Retirement in Utah

 

Why Should you Consider Utah as a Retirement location?

There’s something about crisp mountain air that makes a day better. And, when you can breathe it in knowing you don’t have to leave for work, it can only be more effective, right? If you are looking for an affordable, scenic location to spend your golden years, then retirement in Utah is a great option for you. The rugged beauty of the Beehive State is among the finest in the world, containing both flat salt pan and jagged Rocky Mountain peaks. When doing your retirement planning for life after your last day of work, here’s what you should know about Utah:

Pros

Senior-friendly settings

As markets all over the country begin making more concessions to attract Baby Boomers, Utah has been out at the front in creating opportunities for communities catering to retirees. Whether it’s a decrease in the tax burden through its flat 5 percent income tax rate and retirement credits or changing property laws to entice new investment, you can be sure there are a variety of financial incentives available to help you settle in quickly.

Gorgeous surroundings

You might not have been a nature lover before you move, but you will be after a short time here. Home to the Wasatch Mountains – where the 2002 Winter Olympic skiing events were held – and the stunning red rocks of Zion National Park, you’ll find Mother Nature’s splendor on full display as you travel across the state. And, if you have an inkling for history, spend some time at Dinosaur National Monument, a vast fossil quarry dating back some 150 million years to when Utah was covered by a giant inland sea.

Cons

Weather Extremes

With an average elevation of 6,100 feet, you might expect Utah to have fairly mild summers and cold winters – and you’d be half right. Snow can begin falling regularly in October and last until late April, giving you plenty to think about if you need to go for a drive. In general, the area is falls under the semi-arid or arid climate designation, meaning the August can be scorching with little relief outside of a sudden downpour from time to time.

Population Density

If you would like the amenities of a large city, then Salt Lake City is your best option. Of the state’s nearly three million inhabitants, almost nine in ten live within the metropolitan area of the capital. The rest of the state, outside of cities like Provo, Park City, and St. George, is wide open space. If you want to have neighbors but don’t want to be in a massive urban area, you might have some trouble.

How much do you Need to Spend in Utah?

 

 

This graph shows the percentage fluctuations in expenditures incurred in Utah, as compared to the nation’s average, which is taken as 100%.

For example, if you are staying in Rhode Island or Pennsylvania, then it may be a good decision to shift to Utah as costs of housing, groceries, and transportation are comparatively lesser in Utah.