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.
- 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.
- 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.
- 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.
- 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.
- 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!
- 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.
- 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.
