Wyoming is a nature lover’s paradise and a traveler’s dream destination. But as it turns out, the Equality State is also a great place to spend your golden years, especially if you consider senior safety, community engagement, and taxes.
Wyoming State Law includes statutes that require residents to report suspected abuses, exploitation, or neglect of vulnerable populations, including elders, while the state’s Department of Family Services is tasked with the protection of the elderly and disabled. According to US News, the state has the eighth-lowest violent crime rate in the country and ranks 10th in public safety.
Seniors in Wyoming also enjoy many volunteering opportunities, and they are certainly up to the task as retirees there, who make up almost a fifth of the state’s population, score one of the highest senior volunteering rates, according to WalletHub. As a consequence, as the website pointed out, the risk of social isolation for retirees is much lower.
And since cost of living is often a number one priority when deciding where to settle post-retirement, this is also a category where the state excels. Not only is Social Security income not taxed in the state, but it is also one of only nine states with no income tax. Estate or inheritance taxes are also non-existent, and seniors can keep all their retirement incomes tax-free.
Lastly, Wyoming continues to be one of the most affordable places to live, where the cost of living is almost eight percent lower than the national average, or $53,886, according to a recent report. The same survey estimated that you’ll also need about $793,731 in savings before you can retire there.