Considering retirement amidst rising living costs is a common concern. A report by Insider Monkey highlights South Dakota as a top choice for retirees due to its low housing costs, lack of state income tax, and senior-friendly environment. With factors like affordable home prices and ample outdoor activities, retirees can enjoy a fulfilling lifestyle while stretching their income. Wyoming was noted as another favorable state this year, showcasing a growing trend for affordable retirement options in the U.S.
The fear of outliving one's retirement savings is growing now more than ever due to a myriad of factors, including the impending depletion of Social Security funds.
South Dakota has previously topped our list of best states to retire in the US in 2024. It remains one of the most tax-friendly environments for retirees.
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