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Arizona has become a hot spot forretirees.
If youre thinking about moving to the Grand Canyon State, there are a number of points to consider.
Ask yourself the following questions todetermine whether Arizona is the right place for you to spend your retirement years.
Can You Afford a Home There?
Can you afford a home in Arizona?
Do You Have Over $1 Million in Savings To Last 25 Years?
Do you have enough saved to comfortably retire here?
Can You Fund Long-Term Care in Your Old Age?
One of the unfortunate side effects of getting older is the increased likelihood that you will need long-term care.
This may be care in your home or anassisted living facility.
In Arizona, costs for long-term care are particularly pricey.
Your spouse, if applicable, should also be ready to cover this cost.
Can You Protect Yourself From an Elevated Consumer Fraud Risk?
But Arizona happens to be particularly high risk when it comes to consumer fraud.
Can You Tolerate Extreme Heat?
Retirees may be attracted to Arizona because of its famously warm weather.
But warm can be quite an understatement.
Here, extreme heat is not uncommon during the summer months.
All data was collected on and is up to date as of Jan. 8, 2024.
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