The 10 Best and Worst States for Military Retirees

Chela Mibei
Advertiser Disclosure

Hey there! We just wanted to let you know that some of the links on this site are affiliate links. That means we may get a commission if you click on the link and make a purchase. As an Amazon Associate we earn from qualifying purchases. You can read our affiliate disclosure in our privacy policy. Don't worry, though - we only recommend products that we personally use and love, and we promise to drink all the coffee from the money we make from affiliate sales. Thanks for your support, and we hope you find our content helpful! Read our disclosure.

So, you’ve served your country, navigated the high seas, or flown through the wild blue yonder, and now you’re looking to hang up your boots and settle down. I’m sure you’re wondering, “Where’s the best place to enjoy my hard-earned pension?” or maybe even, “Where should I absolutely avoid?”

According to Statista Research Department, by 2033, the number of military retirees in the United States is expected to reach 2.36 million, an increase from an estimated 2.25 million retirees in 2022. From the sun-soaked beaches of Florida to the snow-capped mountains of Alaska, here are the ten best and worst states for military retirees based on factors like cost of living, quality of life, and those pesky taxes.

Florida

The 10 Best and Worst States for Military Retirees
abluecup via Canva.com

Florida isn’t just for snowbirds and Disney fanatics anymore. With the low cost of living, ranked at number 30 out of the 50 states, and a large veteran population at 6.9%, it’s a retirement paradise for our heroes. Military retirement income is not taxed.

Alabama

The 10 Best and Worst States for Military Retirees
Provided by Frenz via Canva.com

This “Heart of Dixie” state ranks at number 4 out of 50 in terms of cost of living. The state funding per veteran is $12.68, making it an attractive option for military retirees.

Virginia

The 10 Best and Worst States for Military Retirees
paulbrady via Canva.com

In Virginia, funding per veteran is $10.89, and the veteran population is 8.3%. The military retirement income is partially taxed.

South Dakota

The 10 Best and Worst States for Military Retirees
MCCAIG via Canva.com

It ranks at no. 23 out of 50 states in terms of cost of living. State funding per veteran is at 13.57%, and military retirement income is not taxed.

North Carolina

The 10 Best and Worst States for Military Retirees
SochAnam via Canva.com

Known for its beautiful beaches and southern charm, North Carolina boasts a strong veteran population of 6.5%, and state funding per veteran is 13.86%

Hawaii

The 10 Best and Worst States for Military Retirees
TomPelisson via Canva.com

With its tropical climate and stunning scenery, Hawaii is a dream destination for many. And for military retirees, there’s the bonus of no state income tax on retirement pay. The state funding per veteran is at $10.59 and has a 7.8% of veteran population.

Nebraska

The 10 Best and Worst States for Military Retirees
Thinkstock via Canva.com

Don’t sleep on Nebraska, folks. This underrated state’s cost of living ranks at no.15 out of 50. The state’s funding per veteran is $11.90, making it a solid choice for retirement. The military retirement income is not taxed.

Ohio

The 10 Best and Worst States for Military Retirees
pabradyphoto via Canva.com

Wow, Ohio? Who would’ve thought? But yes, folks, with a whopping $15.28 in funding per veteran and a large population of veterans at 6.2%, Ohio is definitely worth considering for military retirees.

West Virginia

The 10 Best and Worst States for Military Retirees
MCCAIG via Canva.com

Next, we have our previous pick’s neighbor – West Virginia. This state may not be known for its sunny beaches or bustling cities, but it knows how to care for its veterans. This mountainous state is a hidden gem for retirement, with $19.15 in funding per veteran and a veteran population of 7.6%.

Arizona

The 10 Best and Worst States for Military Retirees
Thinkstock via Canva.com

Let’s head out west to the picturesque state of Arizona. With its warm climate and stunning landscapes, it’s no surprise that many retirees flock here. But what sets Arizona apart is its dedication to veterans, with a funding per veteran of $10.86 and a veteran population of 6.8%.

So why do these states favor military retirees? Besides the obvious financial benefits, they also have a high concentration of veteran-owned businesses, proximity to military installations and medical facilities, and a supportive community for veterans. Let’s not forget about all these states’ outdoor activities and attractions!

The worst states for military retirees are;

New York

The 10 Best and Worst States for Military Retirees
MCCAIG via Canva.com

High taxes and a high cost of living, which is 30% higher than the national average, make this state less than ideal for retirees living on a fixed income.

California

The 10 Best and Worst States for Military Retirees
MCCAIG via Canva.com

While the Golden State may offer beautiful beaches and vibrant cities, its high cost of living is 42% higher than the national average, and heavy taxes can burden military retirees. As of 2021, 145,308 military retirees were living in California.

New Jersey

The 10 Best and Worst States for Military Retirees
MCCAIG via Canva.com

With one of the highest tax burdens in the nation, there are more financially friendly options for retirees than in this state. The cost of living is 13% higher than the national average.

Illinois

The 10 Best and Worst States for Military Retirees
Pabradyphoto via Canva.com

Heavy taxes, budget deficits, and a higher-than-average cost of living make this state a less attractive choice for military retirees. The average cost of living in Illinois is $49,558 per year.

Connecticut

The 10 Best and Worst States for Military Retirees
MCCAIG via Canva.com

Another state with high taxes and a high cost of living, Connecticut, may not be the most budget-friendly option for retirees. The cost of living is 16% higher than the national average.

Massachusetts

The 10 Best and Worst States for Military Retirees
Jill_InspiredByDesign via Canva.com

While this state offers plenty of cultural and historical attractions, its high taxes and cost of living can make it a challenging place to retire. The cost of living is 50% higher than the national average.

Rhode Island

The 10 Best and Worst States for Military Retirees
Rex_Wholster via Canva.com

With one of the country’s highest property tax rates(1.30%), retirees may need help to make their retirement savings last in this state.

Maine

The 10 Best and Worst States for Military Retirees
MCCAIG via Canva.com

While this state offers beautiful scenery and a low crime rate, its high property taxes(1.09%) and cost of living($2214) can be challenging for retirees on a fixed income.

Vermont

The 10 Best and Worst States for Military Retirees
csreed via Canva.com

With one of the highest median home prices in the nation, retirees looking to purchase a home may need help in this state. The median home in Vermont sold for $315,000 during the first half of  2023.

Mississippi

The 10 Best and Worst States for Military Retirees
Travelview via Canva.com

Despite its lower cost of living,16% lower than the national average, Mississippi’s lack of resources for seniors may make it a difficult place to retire.

So why do these states not cut for military retirees? Aside from the financial factors, they also have a low concentration of veteran-owned businesses, limited job opportunities for veterans, and a less supportive community for retired military. Plus, let’s face it – who wants to deal with high taxes and a high cost of living during their golden years?

15 Most Expensive States To Own A Car

15 Most Expensive States To Own A Car
Provided by Frenz via Canva.com

Well, folks, it’s time to buckle up and take a ride through the priciest states to own a car. We’re not talking about a leisurely Sunday drive, either. This is more of a white-knuckle journey through the land of towering auto cost mountains, where ‘budget-friendly’ is a foreign language, and your wallet might need a seatbelt.

15 Most Expensive States To Own A Car

The 9 Best Travel Backpacks For Women in 2024– A Review Guide

The 9 Best Travel Backpacks For Women in 2023- A Review Guide
Provided by Frenz via Canva.com

Embarking on long-distance travel can be quite challenging. It entails carefully selecting the right clothing, footwear, and everything in between. Moreover, there’s the inevitable uncertainty about the destination’s climate: will it be scorching hot or frosty cold? And once you’ve arrived, pondering over the various activities you might engage in becomes paramount.

The 9 Best Travel Backpacks For Women in 2024– A Review Guide

20 Most Embarrassing States in America

Alabama
Provided by Frenz via Canva.com

Prepare to embark on a hilarity and mild mortification journey as we count America’s 20 most embarrassingly amusing states. Brace yourself for a coast-to-coast tour of the quirky, the strange, and the downright ridiculous.

20 Most Embarrassing States in America

10 States Where Americans Struggle With the Most Tax Burden

10 States Where Americans Struggle With the Most Tax Burden
Provided by Frenz via canva.com

In the land where opportunity meets aspiration, a different kind of struggle unfolds—one that transcends the realm of dreams and delves into the realm of dollars. The tax landscape in the United States is a complex terrain where the weight of financial responsibilities can sometimes cast a shadow over the pursuit of happiness. As the stars and stripes wave proudly, they also unfurl a mosaic of tax codes, regulations, and rates that vividly represent fiscal challenges across the nation.

10 States Where Americans Struggle With the Most Tax Burden

The 12 Worst States to Retire in 2024 in the US

The 10 worst states to retire in 2023 in the US
Provided by Frenz via Canva.com

As the golden years approach, many of us dream of a comfortable and relaxing haven to stretch our legs, soak up the sun, and savor our hard-earned retirement. With considerations like cost of living, healthcare accessibility, and quality of life, some states may not make the cut for your happily ever after.

The 12 Worst States to Retire in 2024 in the US

 

 

Author

  • Chela Mibei

    Chela excels in crafting insightful pieces, drawing from her background in finance and commerce. Her passions for reading, travel, writing, and volunteering enrich her contributions.

Spread the love

Leave a Comment

Frenz Lifestyle & Wellness Blog

For Lifestyle trends, tips, and best product reviews

Join Our Subscriber List Today!

This will close in 0 seconds