Top 5 Reasons to Retire in Connecticut

Top 5 Reasons to Retire in Connecticut

time icon 4 min read update icon Sept. 26, 2019

Connecticut is not a typical retirement state, although some seniors who have lived in Boston or New York City like to move out to the countryside for retirement. Many seniors also stay here to be closer to family also. One thing is for sure, Connecticut is not a state for retirees who need to live on a tight budget. Taxes are some of the highest in the country and home prices are up there as well. In spite of the high costs, Connecticut still offers several valuable reasons for seniors to live here. Connecticut is conveniently located between Boston and New York for those who like to enjoy jaunts to the city now and then. There are many quality hospitals and medical centers here and it’s hard to beat the charm of New England culture and history.

Location

One of the best things about living in Connecticut is that it's at the heart of New England. From nearly anywhere in the state, you can hop on a train and be somewhere else in no time. You can spend a day in Manhattan or a weekend in Boston or Philadelphia with minimal planning. It’s easy to visit one of these major cities on a whim. You don’t even need a car.

New England Charm and History

Connecticut has its share of larger cities and ritzy modern suburbs, but it also has charming small towns with an old New England feel. The villages along the coast are especially nice for seniors like Milford, Old Lyme, and Guilford. These small towns are quaint and friendly, with a great community atmosphere and a strong sense of history. The downside is that buying property in this area is expensive, so start your financial planning

Proximity to Health Care

Because the state is small, no matter where you settle down in Connecticut, you'll never be far from quality medical care. As a senior, it's probably important to be able to get to a hospital or medical center quickly and to know that you'll receive the best care possible. Two hospitals in Connecticut - Hartford Hospital in Hartford, and St. Vincent’s Medical Center in Bridgeport - were recently ranked near the top of a list of best heart attack survival rates in the U.S, according to the U.S. Department of Health & Human Services.

Arts & Culture

Although you can find rural places in Connecticut, you're never far from a center of arts and culture. You can hop on a train and be in Manhattan or Boston in a matter of hours, but you can also find art, fine dining, and entertainment right in Connecticut. New Haven is the home of Yale University and all art, theater, and education it has to offer. Hartford, the capital, hosts the Connecticut Opera. Stamford also has a professional opera as well as the Stamford Symphony Orchestra, and the Stamford Center for the Arts. Bridgeport has several professional theaters and the states only zoo.

Tax Exemptions for Retirees

For many residents, the taxes in Connecticut are quite high. However there are some important exemptions for seniors that can greatly reduce the burden. Social security and pensions are taxed as income here, but only after $50,000 per year for singles and $60,000 for couples. Seniors who take in less than that in their retirement, will not pay any income taxes in Connecticut.

Sharp Seniors - Editorial Staff

This guide was originally published on Sharp Seniors. Grandfolk acquired SharpSeniors.com in 2017 and restored it's content for readers.