Six Reasons Retirees Choose to Retire to the Phoenix Area

Unquestionably, Arizona is a retirement destination, with suburbs and towns like Scottsdale, Mesa, Gilbert, Chandler, and others luring seniors with a distinct mix of activities. Thanks to its exciting sports calendar, mouthwatering food festivals, and allure of the great outdoors, the state has grown popular among retirees looking for a rewarding lifestyle. Every year, an astounding 15 million people go to Phoenix, and many choose to make it their home.

However, why do so many people choose Phoenix and its surrounding areas as their retirement destination? Let's discuss the reasons - from lifestyle amenities to tax advantages - that lure retirees to these towns and suburbs.

1. Tax-friendly regulations

Starting your retirement experience in Arizona is like entering a financially friendly world. The state's tax laws provide a wealth of benefits for pensioners, making them a spotlight. With its 2.5% flat income tax as of 2023, Arizona will have the lowest in the country, making it a desirable option for retirees looking for financial simplicity.

Arizona further sweetens the pot for retirees, ranking 12th in the country for the lowest property taxes. The state's dedication to becoming a tax “safe haven” for individuals is shown by the absence of a state tax on social security payments and tax exemptions on retirement income, including pensions and retirement accounts.

Another significant feature is Arizona's exemption from inheritance and estate taxes, which allows retirees to transfer their money and assets to loved ones without paying extra taxes. This tax-friendly atmosphere makes retirement more financially secure.

2. The beautiful weather in Arizona

With the greatest average yearly sunshine in the nation, this “sunshine mecca” offers retirees the perfect retirement to take advantage of the outdoors.

Despite Arizona's well-deserved reputation for being hot and dry, the state's weather is as varied as the retirees who choose to live here. Although the summer months of June through August see a noticeable increase in temperature, the rest of the year presents a climatic symphony that suits different tastes. A dry and steady environment with pleasant temperatures between 40- and 90 degrees Fahrenheit is brought on by Fall and Spring.

3. Living expenses

The cost of living often becomes a deciding issue regarding retirement plans, and Maricopa County - anchored by towns like Phoenix - stands out as an appealing option for anyone looking to be frugal without sacrificing quality.

Arizona is a popular destination for retirees because of how affordable living is in the state's major cities, especially Phoenix. This thriving city offers a unique combination of metropolitan facilities without the astronomical price tag generally associated with major cities, making the cost of living here an incredible deal.

Managing your retirement against the background of Phoenix's affordable housing requires gaining access to several financial advantages. Retirees find that their money goes further toward housing and other everyday costs, enabling them to lead comfortable and satisfying lives. This financial benefit builds a solid foundation for your retirement years.

4. Medical care

Healthcare is one of the most important factors to consider while planning retirement, and the metro Phoenix region, with its many highly regarded medical institutions, presents itself as the best option for retirees looking for both reasonably priced and excellent healthcare.

Retirement is the beginning of a life stage when access to high-quality healthcare becomes crucial. The Phoenix region provides for this demand in its entirety and has an amazing array of medical facilities. The most famous of them is the Mayo Clinic, which is nationally recognized in eight different specialties and is a tribute to the high quality of healthcare this thriving area offers.

Another mainstay in the healthcare industry, Phoenix Medical System, demonstrates its dedication to quality with several facilities around Phoenix and national rankings. Retirees in the metro Phoenix region will always have a multitude of alternatives available to them thanks to this accessibility to reliable healthcare professionals, which will help them feel secure and at ease should health-related issues eventually come up.

5. Activities and Entertainment

With Scottsdale at its energetic center, the metro Phoenix region becomes a haven for those looking for more than simply a place to live—a dynamic community with plenty of activities and events that enhance retirement life.

Bathed in Arizona's extraordinary weather splendor, the Phoenix area is home to internationally recognized events such as the PGA's Waste Management Phoenix Open, Spring Training for many teams, the NASCAR Championship, the Arizona Diamondbacks home games, and the Barrett Jackson car auction. These events bring people from across the region, bringing a tangible excitement to the area and giving retirees a front-row seat to events of the highest caliber.

Beyond these major occasions, the surrounding towns and suburbs offer various activities to suit every preference. Retirement residents may create a lifestyle that suits their tastes thanks to abundant dining alternatives, exciting nightlife, and varied shopping choices. The area is appealing even outside of the city, enabling retirees to enjoy outdoor activities like boating, fishing, and off-roading that are just a short drive away.

Arizona has over 300 golf courses, so those who like relaxing activities have plenty of opportunities to practice their swing in beautiful surroundings. For those who like the companionship of supporting their favorite teams, the existence of professional sports teams provides an extra degree of excitement.

Suppose you're dreaming of retiring to the Phoenix, Arizona region. In that case, you need to be sure your financial plan fits your lifestyle. Schedule an appointment with one of our financial advisors to discuss any concerns and prepare a smooth transition into this vibrant retirement community. The metro Phoenix region is ready to welcome you on your retirement journey, offering a location to call home and a bustling calendar of activities and events to make the most of your golden years.

6. A wide range of outdoor adventures

The natural beauty of Arizona stands out as a strong argument for those looking for an active and rewarding retirement. The combination of amazing weather and varied scenery in this sun-kissed area makes it a sanctuary for outdoor lovers.

In Arizona, hiking and bicycling are popular outdoor activities that invite retirees to discover various paths and mountain ranges. For those seeking adventure and breathtaking scenery, the state offers a multitude of options, ranging from the recognizable Sedona Summits to the untamed splendor of the Superstition Mountains and the magnificent Grand Canyon.

Arizona's colorful vistas provide a never-ending canvas for photographers. Photographing the state's natural beauty, including its many bird species and enthralling animals, is possible in parks and reserves. Deer, javelinas, coyotes, or even the magnificent large horn sheep may be seen on a leisurely walk, leading to intimate experiences with Arizona's natural world.

Both the ardent explorer and those looking for a more tranquil getaway will find plenty of camping opportunities in the state. Retirees are welcome to enjoy the peaceful splendor of the Arizona night sky at both developed campsites and secluded backcountry sites. Stargazing becomes a treasured pastime with less light pollution and a clear sky.

When you decide to retire to the metro Phoenix region, you're not simply picking a place to live; you're committing to a way of life that easily incorporates outdoor activities into your daily schedule. The scenery of Arizona becomes an extension of your house, beckoning you to explore, commune with the natural world, and enjoy the many outdoor activities that characterize retirement in this sun-drenched region of the United States.

Key Takeaway

The metro Phoenix region stands out as an unquestionable treasure, providing retirees with a wealth of benefits that harmoniously combine well-being, finances, and lifestyle. This region of the dry state offers a comprehensive and rewarding environment for your golden years, from the alluring tax-friendly laws and the stunning weather of Phoenix to the reasonably priced cost of living, first-rate healthcare, exciting events, and a wealth of outdoor activities.

When you see yourself retiring to Arizona's beautiful scenery and comfortable weather, it becomes critical to match your goals with a solid financial strategy. Retirement in this fast-paced area has its complexities that need to be carefully considered, along with smart financial choices.

We strongly advise you to get in touch with our financial advisors, who can help you navigate the complexities of retirement financial planning. One of our advisors can create a plan that complements your retirement lifestyle and ensures financial stability and peace of mind, regardless of whether you're considering moving to the metro Phoenix region or have already made the move.