Why Georgia is an Amazing Place for Retirees (And Their Finances)
November 1st, 2019
Those of us who live in Savannah, GA experience first-hand why Georgia is a great place to retire every day. In fact, Kiplinger ranked Georgia as the third best state for retirees in the entire country. From the warm weather to the ideal convenience to anything and everything, our state has everything you need to sit back, relax and enjoy life. Yet did you know that not only are retirees happy, but so are their wallets? It pays to be a Georgian in your golden years in a variety of ways.
Incredible Interest Rates
It’s surreal to think back to the 1980s when interest rates spiked as high as 17% in certain areas. Now in 2019, homebuyers enjoy interest rates as low as 3.7% according to SunTrust Bank, allowing retirees to purchase or build their dream home without worrying about accumulating unreasonable debt. Real Estate experts are glad to say that the damage and risks from the 2008 real estate crash are a thing of the past, and current trends have created a better buyer’s market than ever before. In fact, homebuyers have found that interest rates are allowing them to consider homes they wouldn’t have thought otherwise possible.
Tax-Friendly
Kiplinger also went on to rank Georgia in the top ten states for retirees when it comes to taxes. The best news of all is that Social Security income is exempt from state taxes, as well as up to $35,000 of most types of retirement income from ages 62-64. Georgia.gov states that includes pensions annuities, interest, dividends, rent, royalties and much more. That’s an incredible break when it comes to tax time, allowing retirees to enjoy their hard-earned income and assets.
Cost of Living
Despite having two major metropolitan areas, prosperous growth and development and a healthy population, the cost of living in Georgia is still impressively low and beneficial for retirees. Additionally, the Savannah area is lower than the statewide average in nearly every category. This is perfect for retirees so they can enjoy a sweet Savannah summer day without worrying about their checkbook. In addition to a statistically lower cost of living, there are a variety of competitive employers in the area, allowing retirees the option to take on a part-time job if they feel inclined to.
An Amazing Variety
Since Georgia has all these amazing benefits for retirees, the only question left is, “What kind of homes are available?” All across the Peach State, gorgeous homes line picturesque streets. Savannah Quarters® is the perfect example of a community that offers an incredible variety of homes. Whether you want a completely custom home overlooking golf and nature views in Westbrook Greens or a low-maintenance home with the latest in smart home connectivity in Danbury Park, there’s something for you. Savannah Quarters® is the missing piece of the ultimate retiree lifestyle.
Love Life in Georgia
The time to live your best life is now, and it starts in our amazing state. From low-interest rates to incredible tax deductions for retirees, the answer to where you should live your golden years is obvious. Contact us today to see how Savannah Quarters® delivers unparalleled Modern Savannah Living.
Note: Information is for example purposes only and should be independently verified. All information subject to change.
