Retirement is something on the minds of many who have dedicated their lives to the workforce. When planning for this exciting milestone, many contemplate where they would like to live once they retire, if they are not already in their desired location. When thinking about where to retire, why not consider Delaware?
From the beaches, to its rich history and overall charm – Delaware might just be the perfect option for your retirement. Here are just a few of the benefits of retiring in Delaware.
Close Proximity to Major Cities
One important aspect of relocating after retirement is finding a state (and city) that will match the needs and interests of the retiree. Some search for a quiet, charming and scenic location to spend their retirement years. Others want to be in an area that will allow for a more social daily life. Delaware provides the best of both worlds.
Delaware is conveniently located near a number of major northeastern states including, Maryland, Pennsylvania, Washington D.C., New Jersey and New York. With all of these exciting destinations just a short drive away, retirees can plan fun-filled day trips to explore all that these areas have to offer.
Tax Friendly State for Retirees
Retirees oftentimes cut down costs wherever possible, especially when living in a state where retirement funds are taxed. There are certain tax benefits that make Delaware ideal for retirees.
Delaware does not impose a sales tax, meaning tax free shopping. In addition, the state waives taxes on social security income. Retiring in Delaware means that state income taxes allow for an exclusion of $12,500 from retirement income, including IRA’s, pensions and 401K plans. An added perk is that retirees over the age of 65 receive an additional standard deduction of $2,500.
Ideal Location for Nature Lovers
Delaware is a dream state for retirees in search of a visually stunning location and a desire for the great outdoors. With 28 miles of pristine beaches including the famous Rehoboth Beach, Bethany Beach and Dewey Beach, Delaware is an obvious choice for those seeking to relax and recharge in the sun and sea breeze. But the beaches aren’t the only way to connect with nature in the First State. Delaware’s 17 state parks offer something for every nature lover including fishing, bird watching and miles of hiking trails that meander through forested parks, open fields, salt marshes and shoreline.
If you are contemplating retirement and think Delaware may be the location for you, Foxlane Homes has two beautiful neighborhoods in Delaware that will make your retirement dreams come true. With prime locations, stunning views, and beautiful homes offering convenient one floor living, Foxlane’s Bayfront at Rehoboth and Sweetbay neighborhoods are sure to make your transition into retirement a treat.