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The pros of retiring in Pennsylvania include low cost of living, no taxes on retirement income, and access to natural beauty, among other things. However, the state also has some drawbacks like an inheritance tax, cold winters, and lack of urban buzz.
Apr 26, 2024 · Many financial experts recommend saving at least 15% of your income for retirement. However, like any location, there are both pros and cons to retiring in the state. Why do people retire to Pennsylvania? Affordability: Pennsylvania has a lower cost of living compared to many other states on the East Coast.
Mar 14, 2023 · Seniors retiring in Pennsylvania can enjoy a low cost of living, low taxes, great healthcare, scenic locations, low crime rates, top-rated cities and towns, historical sites, and winter sports.
- David Bolton
Mar 5, 2024 · Pros and Cons of Retiring in Pennsylvania. It’s important to weigh both the pros and cons of retiring in Pennsylvania before deciding if a move is right for you. So here are some of the main things we think you should know pertaining to living costs, entertainment, healthcare, housing, and more.
May 9, 2018 · Pennsylvania is a great place to retire but can be an expensive place to have an estate. Careful planning is required to take advantage of the low state income tax rates while minimizing the inheritance cost to heirs.
Pros and Cons of Retiring in Pennsylvania. Pros. State tax friendly: Pennsylvania has exemptions for: Social Security income from state taxes, pensions for residents over 60, and retirement account withdrawals. (There’s also has a relatively low state sales tax at 6 percent.) Affordable cost of living: Pennsylvania has a four percent lower ...
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Pros and Cons of Retiring in Pennsylvania. Before you pack your bags and shell out for a moving van, consider both the pros and cons of moving to the “Keystone State.” Pros. State tax friendly: Pennsylvania exempts state