Of the 2022 ten best places in Massachusetts to retire according to Niche.com, there are several that have a population of under 6,000 while boasting many retirees, with many of them on Cape Cod, a longtime retirement destination for state residents. The pros and cons of 'un-retiring' | WJAR You're signed up for our free newsletter! Massachusetts makes a melting pot of diverse cultures and has numerous museums, festivals, and concerts. Education Health Services If your major concern is the health service of Plymouth, then we might as well say welcome to the area. There is a $1000 tax credit forpeople 65+ who qualify on an income basis. Moving To Massachusetts? (The Truth About Living Here) Massachusetts may be home to world-class high-tech industries, but the roads are usually in bad condition since it has a high population density. Cultural Attractions: The state has a rich cultural heritage and offers a wide range of cultural attractions, including museums, theaters, and historic sites. Waltham is less than 10 miles outside of Boston, making it a quick commute if you work in the city. Small city - Extreme western Massachusetts in the Berkshires, 7 miles east of the New York border. But if you value sunshine, affordability, and easy driving conditions, living in Boston might not be for you. The best way to spot these majestic creatures is to take a boat tour from Provincetown or Gloucester, as well as several other spots in the Cape Cod area. The descendants of some of these early tribes are still here today, demonstrating the way they lived and worked long before European settlers arrived. Men retire at an average age of 64.6 years, while women remain at work until age 62.3. From Boston to The Berkshires, MA is full of rich culture, history and opportunities. Regional travel destination The cons: 1. The state ranks among the top 5 states for crime and corrections and has the fifth-lowest murder rate among states. Massachusetts is affectionately known as The Bay State, and with good reason. This is one of Bostons most iconic and well-loved attractions and is the best way to get a taste of the city and its many historic sites and buildings. As you retire, you now have the perfect opportunity to head outdoors and explore what's around you, and Massachusetts offers it all. Allen Meringolo on Twitter: "To recap: The pros of rural NH: 1. Is Walgreens Senior Discount Every Tuesday? WebMoving to Massachusetts, United States. One concern for seniors looking for a place to retire is whether or not there are good nearby healthcare facilities, and Massachusetts has some of the best in the country. Overall, Massachusetts has a fantastic balance of outdoor living to keep you fit, healthy and happy in your retirement, while having easy access to big cities, great hospitals, and world-class entertainment. Although the state does not tax Social Security income, expect high tax rates of up to 7.15% on your other forms of retirement incomes. There are 4 seasons. WebLandmark Credit Union pays 7.50% APY on its high-yield checking account right now. Boston is packed with cultural offerings, from world-class museums and art galleries to historic sites and walking tours, not to mention the incredible gastro scene. Are you planning to continue your education following your retirement? The whole Massachusetts coastline is popular with retirees, and you can find some great retirement communities and supported living services here. Theres even an annual commemorative day, on the first Monday of April, where the 34,000 residents pay their respects to their forefathers. Whether you are a student looking to relocate or a working professional looking for job, the presence of employment opportunities is very important. Around 22,000 people call this neighborhood home, and the vast majority of them are families who gravitate to the area for the truly excellent public school system- Great Schools even awarded it the highest possible grade, 10 out of 10. On the other hand, homes sold in February closed an average of 4.74% below average, and those in October for 2.79% below average prices. Whether you love film, drama, music, or history, there is something for everyone in this culturally-alive state. Social security exemption. 1. Homestead Act which permits a homeowner to shield his or her permanent residence up to $500,000 in equity of that house from creditors. Thriving Economy: Massachusetts has a strong and diverse economy, which can provide retirees with many opportunities for part-time work or volunteer work. Thats a win-win in our books. Best car insurance companies June 2023 - USA TODAY Both have many retirees, the former containing a wildlife refuge which is the home to many migratory birds. Here is the bad news. If youre looking for a more rural setting, then consider towns in the western or central parts of the state. But first, Fantastic Health WebBad winter weather Sloppy mud season High cost of living Lackluster economy and job market Lacking cultural and ethnic diversity We will go through each of these Vermont pros and cons shortly. Theres a young, fresh and hip vibe here, thanks in large part to the 250,000 students studying across various universities in the city. Lexington is an affluent town, where the average household income is almost 150k per year. The 24 Pros and Cons of Living in Boston, Massachusetts And make sure your finances are in order; many landlords expect first and last months rent in addition to the deposit. Winchester is a picture-perfect family-oriented suburb of Boston, less than a 20-minute drive from downtown. Providence, New York City and even Philadelphia and Washington DC are conveniently accessible by train or bus. Its one of the original 13 US colonies, the landing place of the Mayflower, and the home of the first pilgrim settlers. Median home prices can range dramatically apartments in wealthy Boston routinely cost a million dollars or more, while the 3rd quarter of 2016 median home in the Metro sold for $435,300 (source: NAR). @media(min-width:0px){#div-gpt-ad-ablison_com-medrectangle-3-0-asloaded{max-width:250px!important;max-height:250px!important}}if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'ablison_com-medrectangle-3','ezslot_12',617,'0','0'])};__ez_fad_position('div-gpt-ad-ablison_com-medrectangle-3-0');@media(min-width:0px){#div-gpt-ad-ablison_com-medrectangle-3-0_1-asloaded{max-width:250px!important;max-height:250px!important}}if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'ablison_com-medrectangle-3','ezslot_13',617,'0','1'])};__ez_fad_position('div-gpt-ad-ablison_com-medrectangle-3-0_1');.medrectangle-3-multi-617{border:none!important;display:block!important;float:none!important;line-height:0;margin-bottom:15px!important;margin-left:auto!important;margin-right:auto!important;margin-top:15px!important;max-width:100%!important;min-height:250px;min-width:250px;padding:0;text-align:center!important}. West Dennis, a village in Dennis on the Cape, has a median home price of about $397,300. Overall, retirees who are looking for a high quality of life, rich cultural offerings, and access to quality healthcare may find Massachusetts to be a great place to call home during their retirement years. The historic village within Falmouth on Cape Cod has beaches on Buzzards Bay and Vineyard Sound. Bostons summer season is a breath of fresh air, quite literally. Hence, if you want to own a car and drive peacefully after you retire, Massachusetts may not be able to fulfill this desire. The cost of living in Massachusetts is higher compared to the national average, so retirees should consider their budget carefully when deciding where to settle. The Bay State can have hot, humid summers and cold, snowy winters, so be sure to pick a place that will best suit your lifestyle. We Negotiated Discounts With Great Agents. Hip coffee shops occupy historic buildings with gorgeous architecture, and Gen Z-ers with their AirPods stroll the same streets our Founding Fathers once did. The state ranks among the top 5 states for crime and corrections and has the fifth-lowest murder rate among states. T&Cs apply. One of the major concerns for almost all retirees is access to top-quality and affordable health care. To recap: The pros of rural NH: 1. But is living in Boston all its cracked up to be? From the very birth of the nation, Massachusetts has been at the forefront of progress. In what follows, we share some of the cons associated with retiring in Massachusetts, so you are well placed to make an informed decision about whether to retire in Massachusetts or not. Something went wrong while submitting the form. If you find yourself looking for employment in MA, chances are these companies are hiring across a broad range of disciplines and career paths. Retirees can take advantage of potentially There are two universities here, so its population is generally on the younger and more diverse side, with a college town vibe that keeps things fresh and exciting. Strolling the freedom trail is free, but for a more comprehensive insight into the fascinating history here, consider taking a paid guided tour. This comprehensive list provides you with the pros and cons you need to consider before making up your mind. If education is a priority for you, Boston is a dream come true. High energy costs 27 Jun 2023 17:46:35 By now, you already know that every city has its pros and cons. For those who love the outdoors, Boston offers ample public green spaces like the Public Garden and Boston Common. Although there are plenty of benefits to retiring in Massachusetts, there are also a few potential drawbacks. Property Taxes:The Bay State is 9th highest in the nation for property taxes as a percent of income. Its a great city to stay fit and feel good! Overall the cost of food comes in at 8.9% higher than average. The historic charm abounds in the area with many museums and older home tours, as well as a grist mill. He has been featured in Inman, Readers Digest, Fox News, American Express, Fit Small Business, Policy Genius, Lending Tree, GoDaddy, Manta as well as other major websites. State: Massachusetts. Inova Payroll Review (2023): Pricing, Features, Pros and Cons The biggest chunk of New Englands labor force exists within the Bay State, and many of them are working in education, which makes sense given Massachusetts collection of world-class higher education institutes. In Worcester, however, the median home price at $249,600 is still higher than the national median of $240,900. Boston and the coastline are among Massachusetts's most heavily populated areas, which is why the beach and the city center are always crowded. High property taxes 2. The state is home to several high-tech manufacturing industries and traditional trade, fishing, and agriculture. Cape Cods coastline is famous not just across the nation, but throughout the world, so theres always a heavy influx of tourists coming in. Our team works hard to recommend the best products for your needs. And given that traffic congestion is the norm, if you are someone who doesn't want to spend the golden years of their lives stuck in a traffic jam, then retiring in Massachusetts is not a good idea for you. Living in Massachusetts comes with endless opportunities for almost everything. 32 Elderly Pros & Cons Of Retiring In Boston, MA - MM This area has many tidal pools and sections filled with sea life as Cape Cod Bay ebbs and flows. The Bay State is a relatively tax-friendly place to spend your retirement years. Its against the law to bring your pet lion into a movie theatre. History buffs can follow the Freedom Trail, sports fans can catch a game at the world-famous Fenway Park, art lovers can soak up some culture at the Museum of Fine Art. Assisted Living in Massachusetts (MA Taxes were 1.04% on assessed value. Expect heavy snowfall and long spells of cold weather its definitely not a winter wonderland for everyone! Recent population and real estate data reveal that people are moving to New Hampshire at a rate that far exceeds that of those who are leaving, and it makes sense; once you can call the Live Free or Die state home, why If youre someone who prefers wide open spaces, this might be a little overwhelming. The state's small land size and high population density contribute heavily to traffic congestion. Regional travel destination The cons: 1. The pros of relocating: A great place where you can raise a family. Additionally, if you travel frequently for work, like myself, traveling in and out of Massachusetts is convenient; Logan airport is a major international airport and unlike many other big city airports, it is only a 10 minute drive from downtown. Finding a parking spot in the city can be like finding a needle in a haystack challenging and pricey. With landscapes ranging from the Long Island shoreline to scenic mountain ranges, you really are spoiled for choice, and outdoorsy types will love living here. Good public transport. Old, unregulated housing stock 3. Living in Boston is like living in many places at once thanks to its diverse neighborhoods. It includes one of Americas oldest cities, Boston, charming sea coast villages on Cape Cod, and rural towns in the western part of the state leading up to the Berkshire Mountains. Find a home, take a tour, and sign a lease in as little as 3 hours. Can You Earn 7% APY on Savings? Fact Vs. Fiction of High Enjoy up to 15 days of FREE Rent in NYC, LA, DC, Boston, and Austin! While there are several amenities that the state has to offer, they come with a hefty price tag that is often not affordable for an average retiree. Con #1: The Cost of Living Can Be High. Did you know that we can help you save a lot of money when selling your house? Pros and Cons of Living In Vermont The art scene is thriving here, with cute little galleries, craft shops and studios around every corner. 2023 All Rights Reserved. But the best time of the year in Massachusetts is fall. Although there are no bars, restaurants or entertainment here, Leverett more than makes up for it in terms of outdoor activities, gorgeous scenic spots, and picture-perfect landscapes. It has been described as tranquil, with tree-lined streets, while the town of Dennis offers 16 beaches on Nantucket Sound or Cape Cod Bay. Its something to keep in mind when considering Boston as your home. A coming change in the FAFSA (Free Application for Federal Student Aid) form can make it easier for grandparents to help fund their grandchildrens higher High Cost of Living: The cost of living in Massachusetts is higher than the national average, making it an expensive place to live for retirees on a fixed income. There are fantastic hospitals are on your doorstep, and the cost of medical treatment is surprisingly low in comparison to the national averages. Furthermore, the state has one of the lowest burglary and theft rates among states. Scenic 3. Best retirement communities in Massachusetts Topretirements has profiled a number of towns that make great retirement communities; many of these have active adult communities. The median home price in Yarmouth is $551,283, with Wayland coming in at the highest at about $733,300. Brewster, with a median home price of $450,200, is an interesting location which includes Brewster Flats. When it comes to your IRA, 401(k) or other retirement savings accounts, these will be taxed at the states set rate of 5.05%. REGION Massachusetts has its pros and cons when it comes to retiring here. Housing Costs: Housing costs in Massachusetts can be high, especially in popular retirement destinations like Boston and Cape Cod. Retiring in Massachusetts can be a great way to enjoy a peaceful lifestyle. Bostons prestigious Brigham & Womens Hospital is the second-largest employer, with around 13,400 employees on the books. For starters, the state has a wide range of recreational opportunities, from skiing and snowboarding in the winter to sailing and swimming in the summer. It is also important to note that we may have financial relationships with some of the companies mentioned on our website, which could result in receiving free products, services, or monetary compensation in exchange for featuring their products or services. However, it can get incredibly cold during winters which may not be a preferred choice for some people looking forward to retiring in Massachusetts. Our team of writers strives to provide accurate and genuine reviews and articles, and all views and opinions expressed on our site are solely those of the authors. You can see how these early settlers lived their everyday lives and carried out tasks such as growing crops, gardening, cooking, and building. Since you will have ample time on your hands after retirement, you will want to live in a place that keeps your days filled with entertainment and your nights peaceful and safe. The state is home to five colleges where retirees can take continuing education classes. The overall best car insurance company of 2023 is American Family. With Clever: You'll work with a full-service realtor from a top broker You'll earn cash back on qualifying purchases It's free, with zero obligation you can walk away at any time Fill out the form below to get started! Luckily, theres enough beaches and coves that even during the peak season, you can find a little spot of secluded paradise if youre willing to look for it, especially up in the quieter north shore areas. Cool and breezy nights follow the warm, sunny days during summers in Massachusetts. North of Boston, the coastal town of Newburyport also gets high grades for retirees, as does Lenox in the mountainous Berkshire region of Western Massachusetts. Boston is among the safest big cities in the US, with a relatively low crime rate for its size. Some individuals also claim that Massachusetts is a food haven, and its seafood is considered the finest and most fresh among the states. QuickBooks Payroll pros and cons Pros. The median sales price of a Massachusetts home in late 2011 was $354,000 according to Zillow. Retire In Massachusetts Revised Nov. 2016. Its something to bear in mind when moving to the city. This comprehensive list provides you with the pros and cons you What do you think of when it comes to retired life? However, if you need a little more convincing, here are some of the pros of retiring in Massachusetts. With a wide range of recreational opportunities and educational institutions, youll find plenty to explore. Marginal Income Tax Rates. Massachusetts is a state steeped in rich history. The streets are flanked by impressive historical homes that originally belonged to the families of these men, and there are several museums dedicated to the exploration of the trading boom. This site also participates in other affiliate programs such as CJ, ClickBank and more, and is compensated for referring traffic and business to these companies. Right at the very tip of Cape Cod is the picturesque tourist hub of Provincetown. With its rich history, diverse culture and abundance of attractions, its no wonder that retirees are drawn to the Bay State. Enroll now to unlock this valuable masterclass for FREE! Massachusetts sure is a great attraction for citizens looking forward to retiring peacefully. the Five College Learning in Retirement program. WebIt's common for banks to compound interest daily and pay it into your account monthly. So if you are a retiree looking forward to relocating to a state that allows you to spend money on your lifestyle and activities, then Massachusetts doesnt make it to that list. Robust payroll features. The Massachusetts climate is called humid-continental. At Ablison.com, we believe in providing our readers with useful information and education on a multitude of topics. However, like every other state, retiring in Massachusetts has its own set of disadvantages that you may want to consider before settling on this remarkable state. Transportation costs including gas, car insurance, vehicle maintenance costs, and associated taxes and license fees come in at 7.9% above the national average. That said, there are times of the year when you may be able to find a better deal. Some data shows it to be an expensive choice, which is no surprise to those who spent their work lives here. However, before you make the decision to retire in Pros Bountiful beauty. Imagine being able to easily explore the Northeast region from the picturesque Maine coast, the ski slopes in Vermont, or even embarking on a quick road trip to New York City. When it comes to choosing where to retire in Massachusetts, there are a few things to consider. Massachusetts has you covered if you are looking for outdoor adventures ranging from blissful time by the beach to the most adventurous mountain hikes. North Falmouth is a quaint tourist town, with a median home price of $550,200. Before you finalize your plan to retire in Massachusetts, know that the state ranks in the top five most populated states in the U.S. If you are thinking of moving to Massachusetts to live out your golden years or are looking forward to retiring in Massachusetts, you have some amazing reasons to do so.