Thinking to Relocate When You Retire? - Some People Think Indiana - Why?

When you are sitting with friends drinking coffee, the conversation often leads to retirement. One of the most debated topics is will you move when you retire.

A 2021 Transamerica study showed that four in ten retirees have moved since retiring. Most people end up in states like Florida, where low taxes and warm weather are featured.

However, there are other great locations to consider. The question is what you are looking for and how close to friends and family you wish to be? Indiana is coming up on a lot of people's radars these days. There are several reasons for that, including affordable housing and lower taxes.

Retirement requires careful planning to ensure you and your spouse can spend your 'golden years' without stress and anxiety. It's hard to calculate when you should retire, as the price of living changes yearly and varies by location. However, retirement planning is still essential in determining when and where you will retire. Many people are considering moving to the Hoosier State as a potentially great place to consider retiring.

It's Good for Finances

You can't escape taxes, but you can live in a location where the taxes are lower. Lower taxes generally means a better standard of living. The high tax states can be hard on your budget.

Indiana is a tax-friendly state and has an overall lower cost of living. Property taxes are also lower than average, and income from Social Security is exempt when you file your state income taxes.  

Housing costs are one of the attractions for Indiana. SoFi says the average housing costs in Indiana run from $661 to $1,148 per month. The state is primarily rural and small to medium towns and cities. The state does larger metro areas like Indianapolis, with over 800,000 in the city, plus more in the metro area. The next biggest area is Fort Wayne, with about 253,000 people, followed by Evansville and South Bend.

Many Accessible Attractions

Many people face mobility problems as they get older. Thankfully, many attractions in Indiana accommodate those with mobility challenges. Still, get your disabled parking placard for access to accessible parking.

State parks have ADA wheelchair-accessible trails. Most museums and other attractions can accommodate people with walking and mobility problems. 

Whether you want to be at the beach (along Lake Michigan like the Indiana Dunes State Park, or enjoy the natural beauty of waterfalls at Clifty Falls State Park and McCormick's State Park, there are many outdoor options to appreciate.

Like football? The Indianapolis Colts offer the excitement of the NFL. Big-time college football is available in South Bend at the University of Notre Dame. Watch the Big Ten in Bloomington at the University of Indiana or in West Lafayette, where the Purdue Boilermakers play.

NBA basketball is available in Indianapolis, where the Pacers play. College and high school basketball is huge in the Hoosier State (remember the movie Hoosiers)? Major college basketball programs in Indiana include these schools:

• University of Indiana

• Purdue University

• University of Notre Dame

• Indiana State

• University of Evansville

• Ball State

• Butler University

• Valparaiso University 

There are three minor league baseball teams in the state, Indianapolis, South Bend and Fort Wayne. See the stars before they are stars as you enjoy a beer and a hot dog.

There are many other things to do in Indiana - Things To Do | Visit Indiana

Indiana Is Friendly

Another reason Indiana is so famous for retirees is that it is a friendly state. People are genuinely nice to each other, which you can see in the state's low crime rate. People feel safer as a result of the low crime. This rate is even lower when you consider that most of the crime in the state happens in Indianapolis. It's a fun and wonderful city to live in, but if you are moving to Indiana as a retiree, you may want to consider some of the smaller towns.

Weather Variety

Everyone talks about the weather, and everyone's tastes are different. The state has what most people would agree as five comfortable months with high temperatures ranging from 70-85°. 

Indiana has distinct seasonal weather patterns for everyone to enjoy. Distinct seasons mean you can enjoy warm summers, watch the leaves turn in the fall, enjoy the coats and snow in the winter, and see the flowers bloom in the spring. There's a little something for everyone, so even if you hate the snow or hotter summers, you'll only need to wait a couple of months for your ideal weather season.

Health

With a major city, several medium-size towns, and major college towns, there are many options for quality health care in Indiana. Many top hospitals, clinics, rehabilitation facilities, assisted living, home health care, and nursing homes are available statewide. 

Indiana is a Long-Term Care Partnership state, and the state has reciprocity with other states' long-term-care partnership programs. If you have a Partnership Long-Term Care Insurance policy, the additional dollar-for-dollar asset protection will follow you to Indiana. 

Start thinking about retirement, your finances, possible relocation, and long-term health care planning before retiring.