When you think of warm weather retirement destinations, Mississippi might not be the first place that comes to mind. But while many people might default to thinking of a place like Florida when considering their retirement destination, Mississippi has a lot to offer seniors looking for a warm and affordable place to retire. With low living costs, some of the best taxes for retirees in the entire country, and access to quality healthcare, senior living and cultural attractions, Mississippi is a hidden gem for senior retirement. If you or a senior loved one is thinking about retiring to a southern or warm weather destination, make sure to consider whether Mississippi is right for you.

Great Retirement Taxes

It’s probably a bit of an understatement to just say that Mississippi’s retirement taxes are great - in fact they’re some of the lowest taxes in the entire country for retirees. Mississippi’s retirement taxes are so amazing for retirees because Mississippi exempts nearly all forms of retirement income from its taxes. In addition to exempting Social Security retirement benefits from state income taxes, Mississippi also exempts common sources of retirement income like 401(k)s, IRAs, and pensions (just to name a few of the many forms of retirement income exempted from Mississippi taxes). 

In addition to amazing income taxes for retirees, Mississippi has some of the lowest property taxes in the country. In addition to having already low property taxes, Mississippi also has a homestead exemption for Mississippi seniors over the age of 65 which exempts the first $7,500 of home value.

Low Cost of Living

One of the most important things to think about in your retirement years is making sure that you have enough money both to fund your retirement and also all the additional senior care that you will need as you age. One of the best ways to save money in your retirement is to spend less of it, and an easy way to do that is to move to a low cost of living state like Mississippi. Mississippi is one of the most affordable states to live in, making it a great place for seniors to retire on a budget. The cost of living in Mississippi is significantly lower than the national average, with housing costs and healthcare expenses being particularly affordable. This means that seniors can make the most of their retirement savings and enjoy a comfortable lifestyle without breaking the bank (an especially important concern when living on a fixed income).

Access to Quality Healthcare

Access to quality healthcare is essential for seniors, and Mississippi has some of the best healthcare facilities in the region. The state is home to several top-ranked hospitals, including the University of Mississippi Medical Center in Jackson and Baptist Memorial Hospital in Oxford. These facilities offer a wide range of medical services and specialties, ensuring that seniors can receive the care they need as they age. While it might not be the most exciting thing to think about, the reality is that as we age we require more medical care and daily assistance. Making sure that you retire in a place with easy access to both can pay huge dividends down the line in your retirement years.

In addition to hospitals, Mississippi also has a range of senior living communities that provide care for seniors who need assistance with daily tasks. With senior living communities across the acuity spectrum, from independent living communities to nursing homes, seniors have an amazing variety of senior living options in Mississippi. 

Natural Beauty and Outdoor Recreation

Mississippi is home to some of the most beautiful natural landscapes in the country. The state boasts miles of coastline along the Gulf of Mexico, as well as several state parks and nature preserves. Seniors can explore the great outdoors by hiking, fishing, and bird watching. The state also has several golf courses and other outdoor recreational opportunities that are perfect for seniors who want to stay active. Mississippi is also close to many vacation and retirement hotspots like Florida and Texas, meaning that it will always be easy to visit friends and family.

Cultural Attractions

Mississippi has a rich history and is known for its contributions to music, literature, and art. Seniors can explore the state’s cultural heritage by visiting museums, historical sites, and music festivals. The Mississippi Delta region is particularly famous for its blues music and hosts several festivals throughout the year. Other cultural attractions in the state include the Mississippi Museum of Art in Jackson and the Mississippi Blues Trail, which highlights important blues landmarks throughout the state. 

Great Local Communities

Mississippi is known for its friendly and welcoming communities. Seniors can join clubs and organizations that cater to their interests, volunteer in their communities, and attend events and activities that promote health and well-being. Mississippi is also home to several universities that offer opportunities for lifelong learning and social interaction. Seniors can take classes, attend lectures, and participate in cultural events on campus such as going to see student-lead theatrical performances or sporting events.

Mississippi might not be the first state that comes to mind when you think of moving down south for your retirement years, but it is certainly worth considering as your retirement destination (as so many people do each year). From affordable living costs to access to quality healthcare and a range of cultural attractions, Mississippi is a hidden gem for senior retirement. Whether you want to relax on the coast, explore the great outdoors, or immerse yourself in the state’s rich cultural heritage, Mississippi has something for every senior retiree.

To learn more about how Sunbound can help make paying for senior living and senior care more affordable for you or your senior loved one, send us an email at info@sunboundhomes.com or request more information on Sunbound. Sunbound is the best way to pay for senior living and senior care, and we’re on a mission to make senior living and senior care more affordable for everyone.