Retirement in Minnesota

Overview of Minnesota

 

Despite experiencing extreme temperatures, the state of Minnesota is gaining popularity as one of the favorable retirement locations in the US. The localities of this "Land of 10,000 Lakes" are based around the lakes, vast parks, and the shores of the Mississippi River. The unique blend of beautiful surroundings and clean environment makes it worthwhile for baby boomers to search for retirement homes in Minnesota.

If you are not willing to abandon the habits and lifestyle of your working life even after retiring, then the twin cities of Minneapolis and St. Paul are the considered among the best places to retire in Minnesota. These metropolitans are followed closely by the cities of Duluth, Rochester, and Bloomington.

Skiing, hunting, golfing, and other sports are the main activities in the state during winter, while during summer, retirees can spend time boating and fishing in the local lakes or watch popular games like soccer, basketball, and hockey. Those inclined towards music can get a share of the cultural environment prevalent in the place by attending events like Minnesota Orchestra, or watch shows in the theaters of St. Paul's Ordway and Guthrie.

 

Minnesota - at a Glance

Population Climate State Income Tax State Sales Tax Median Home Price
5,167,101 (US Census Bureau, 2006) Continental 7.85 % 6.5 % $ 146,881

 

Pros: Apart from the beauty of the surroundings, the comparatively low cost of living and day-to-day expenses make it ideally suited for the retirees in Minnesota to spend the years after retirement in this state.

Cons:The extreme temperatures for both summer and winter, coupled with blizzards, thunderstorms, hail, derechos, and blizzards are causes for concern among residents.

 

Cost of Living in Minnesota

 

The above table shows the percentage fluctuations in expenditures incurred in Minnesota, as compared to the nation's average, which is taken as 100%.