By Ethan Faverino |
Maricopa County has secured a spot among Arizona’s top destinations for retirees, according to a new study by SmartAsset.
The study evaluated counties across the United States based on three key factors: tax-friendliness, access to medical care, and social opportunities, putting Maricopa County as an ideal location for those planning the golden years of retirement.
To assess tax-friendliness, the study calculated effective income and sales tax rates for a retiree earning $35,000 annually from retirement savings, Social Security, and part-time work, determining disposable income after taxes.
For medical care, the study measured the number of doctors’ offices per 1,000 residents, and the same for social opportunities, which measured the number by recreation and retirement centers per 1,000, along with the percentage of seniors in each county’s population.
Maricopa County ranked sixth in Arizona with a Best Place to Retire Index score of 43.1.
The county excels in medical care access, with 3.28 medical centers per 1,000 residents, one of the highest rates in the state.
With a tax burden of 15.82% and an offering of 0.12 recreation centers and 0.4 retirement centers per 1,000 people, Maricopa County provides a balanced environment for retirees seeking affordability, healthcare, and an active lifestyle.
While its senior population is lower at 15.99% compared to the top-ranked La Paz County (42.23%), Maricopa County’s urban amenities and vibrant community make it a standout choice.
Retirement dreams of adventure and relaxation require careful financial planning, often overlooked within daily expenses.
Experts recommend saving 10%-15% of annual income and targeting 25 times the yearly expenses to replace 70%-80% of pre-retirement income. For example, if somebody spends $50,000 annually in retirement, they should aim to save around $1.25 million through 401k, retirement, and other investments.
Maricopa County’s high density of medical facilities ensures retirees’ healthcare needs are met, addressing the rising healthcare costs that often challenge retirement budgets. Its moderate 15.82% tax burden supports financial planning by allowing retirees to stretch their savings further.
Ethan Faverino is a reporter for AZ Free News. You can send him news tips using this link.
