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Top 7 Things to Know About Retiring in Salt Lake City

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If you’re considering retiring in Salt Lake City, you’re not alone. Utah is becoming an increasingly popular place to move to, especially for those heading toward retirement. Before you make the decision, here are some things to keep in mind. 

Retiring in Salt Lake City: What You Need to Know

These tips will help you prepare for a relaxing retirement in beautiful Salt Lake City if you decide that’s where you want to end up.

  1. The 55+ Community is Thriving. 

More people are coming to Utah to soak up the beautiful surroundings. If you’re planning a Salt Lake City retirement, you’ll be in good company. 

  1. There’s High-Quality Healthcare.

Healthcare is an essential factor as you decide where to retire. Luckily, Salt Lake City is home to three top-rated hospitals and reasonable premiums. In fact, Utah has one of the best healthcare systems in the country. 

  1. Salt Lake City Has a Low Crime Rate. 

Another advantage of retiring in Utah’s capital is its low crime rate—about half the national average. Enjoy this beautiful city without worrying about your safety.

  1. Getting Around Town is Easy. 

Salt Lake City’s light-rail transit system – TRAX – makes it easy to soak up all of the cultural attractions and scenic views. 

  1. It’s Easy to Get Away.

For some, retirement is the perfect time to travel. Whether you’re staying state-side or heading abroad, Salt Lake City’s airport, which includes Delta’s western hub, makes it easy to get where you want to go! 

  1. It’s Moderately Tax-Friendly Towards Retirees. 

In Utah, Social Security and withdrawals from retirement accounts are both fully taxed. Pensions – private and public – are partially taxes. It also has a flat rate income tax. 

  1. There’s Plenty of Desirable Senior Housing. 

Salt Lake City has plenty of senior housing to choose from, with a range of options so you can find the space that works best for you. 

Is Utah a Good Place to Live? 

Utah is a great place to live, especially for the 55+ population. This is partly due to its proximity to nature, plentiful housing opportunities, strong economy, and high quality of life.  Salt Lake City, in particular, offers many advantages to retirees.  

Helping You Navigate Utah Retirement Taxes

As mentioned above, Utah is moderately tax-friendly toward retirees, which can cause some people concern. Contact our Trajan Wealth Utah fiduciaries if you have questions about current or future Utah retirement taxes. We’d love to help you navigate them with ease and confidence so you can keep as much of your hard-earned money as possible. 

Work With Caring Salt Lake City Fiduciaries at Trajan Wealth

Whether retirement is fast approaching or far in the future, there’s no better time to begin preparing alongside our Salt Lake City fiduciaries. Learn more about what makes us different. Then, schedule an appointment to meet with our Trajan Wealth Utah team virtually or in person. 

We look forward to serving your financial needs and helping you plan for a comfortable and exciting retirement. 

© 2024 Trajan® Wealth LLC. Nothing in this blog is intended as investment advice, nor is it an offer to buy or sell any security. Please consult your financial advisor for questions about your personal financial situation. All investments involve risk, including the potential for loss. Trajan Wealth clients and employees may have a position in any of the securities mentioned. Portfolio holdings and other data are subject to change at any time and without notice. Additionally, the above links provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by Trajan Wealth, L.L.C., of any of the products, services or opinions of the corporation or organization or individual. Trajan Wealth, L.L.C., bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. These materials are for informational and educational purposes and are not designed, nor intended, to apply to any person’s individual circumstances. It does not take into account the specific investment objectives, tax and financial condition, or particular needs of any specific person. Please consult with your legal and/or tax advisor before making any tax-related decisions.

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