Advertisement
taxes

Utah: #10 Best State to Retire in 2018

One of our top 10 states for retirement based on financial factors, Utah has the added appeal of national parks and open vistas.

Thinking of retiring out West? Consider Utah. The Beehive State is a great choice for active retirees who love the outdoors. But it's not just lifestyle that makes the state an alluring spot to spend your golden years. Utah snuck in to our top 10 states for retirement for financial reasons, too, despite its unfriendly tax policies. (More on Utah's taxes on retirees later.) After analyzing all 50 states for retirement based on the financial factors most critical to retirees, from health care costs to taxes, Utah ranked 10th on our list of retirement havens. Here's why.

Utah: #10 Best State for Retirement

Population: 2.9 million

Advertisement - Article continues below

Share of population 65+: 10.0% (U.S.: 14.5%)

Cost of living: 4% above the U.S. average

Average income for 65+ households: $53,211 (U.S.: $53,799)

Average health care costs for a retired couple: Below average at $412,641 (U.S.: $423,523)

Tax rating for retirees: Least Tax Friendly

The Beehive State is a sweet spot for active retirees. Utah ranks second in the U.S. for the overall health of its 65-plus population, according to the United Health Foundation, and offers plenty of outdoor recreation options that are sure to keep you buzzing through retirement. There are five national parks, seven national monuments, five national forests and 43 state parks to host all your hiking, climbing, boating and skiing desires.

Advertisement
Advertisement - Article continues below

Maybe the activity can distract you from the state's unfriendly tax laws—Utah is one of the few states that taxes Social Security benefits, for example. Still, the tax man isn't keeping Utah's seniors down: Even with income levels for older adults just about average for the U.S., the state has the third-lowest poverty rate in the country for people 65 and older.

Learn more about how we ranked all 50 states for retirement including our methodology and data sources.

Advertisement

Most Popular

65 Best Dividend Stocks You Can Count On
stocks

65 Best Dividend Stocks You Can Count On

These 65 Dividend Aristocrats are an elite group of dividend stocks that have reliably increased their annual payouts every year for at least a quarte…
July 8, 2020
8 Ways You Might Be Cheating on Your Taxes
taxes

8 Ways You Might Be Cheating on Your Taxes

Don't fall into these common traps that can get you in hot water with the IRS.
July 8, 2020
Find a Great Place to Retire
happy retirement

Find a Great Place to Retire

Our cities provide plenty of space to spread out without skimping on health care or other amenities.
July 2, 2020

Recommended

12 Tax Deadlines for July 15 (It's Not Just the Due Date for Your Tax Return)
tax deadline

12 Tax Deadlines for July 15 (It's Not Just the Due Date for Your Tax Return)

Between due dates for IRA or HSA contributions, paying estimated taxes and other deadlines, there's more to do by July 15 than just filing your federa…
July 10, 2020
Saver's Credit: A Retirement Tax Break for the Middle Class
Tax Breaks

Saver's Credit: A Retirement Tax Break for the Middle Class

Your retirement contributions could be the key to a lower tax bill.
July 9, 2020
8 Ways You Might Be Cheating on Your Taxes
taxes

8 Ways You Might Be Cheating on Your Taxes

Don't fall into these common traps that can get you in hot water with the IRS.
July 8, 2020
2020 Tax Deadline: When Are Tax Returns Due This Year?
tax deadline

2020 Tax Deadline: When Are Tax Returns Due This Year?

The April 15 deadline for filing your 2019 federal income tax return (and paying taxes) has been moved back...but the new due date is approaching fast…
July 8, 2020