Virginia Ranked Among Best States for Retirement
Virginia Beach, VA (Law Firm Newswire) June 5, 2014 – Personal finance website Bankrate.com has ranked Virginia as the 10th best state in the country in which to retire.
The top three spots went to South Dakota, Colorado and Utah. New York was ranked as the worst state for retirees. Bankrate based its rankings on a number of factors, including health care quality, cost of living, taxes, crime rates and amount of sunshine. Virginia’s relatively low crime rates, reasonable cost of living and moderate taxation earned it its high rank.
“Virginia is a great state for retirees,” said Andrew Hook, a Virginia elder law attorney. “But regardless of where one lives, good financial and estate planning are key factors in ensuring a comfortable retirement.”
Taxes are always a factor in financial planning. To calculate its rankings, Bankrate relied on data from the Tax Foundation, which showed that in fiscal year 2011, Virginians paid an average of 9.3 percent of their income on state and local taxes (below the national average of 9.8 percent).
Health care quality is also of great senior citizen importance, and in this area, Virginia’s performance was average. Bankrate used performance data from the Agency for Healthcare Research and Quality, which measures states’ performance across several types, settings and clinical areas of care. Virginia’s performance in the setting of home health care was measured as very strong, but the state was weak in its nursing home care measures.
Virginia’s low crime rates also contributed to its placement as 10th best for retirement. In terms of violent crime per capita, only Vermont, New Hampshire and Maine were safer. Only seven states saw less property crime than Virginia.
Hook Law Center
295 Bendix Road, Suite 170
Virginia Beach, Virginia 23452-1294
5806 Harbour View Blvd.
Suffolk VA 23435
- Eye and smell tests may make early detection of Alzheimer’s possible
Results of four new research trials suggest that changes to the eyes and ability to smell may be valuable in the early detection of Alzheimer’s. Reports presented at the 2014 Alzheimer’s Association International Conference in Copenhagen revealed that eye exams could be used to identify build-up of beta amyloid in the brain, while a decreased [...]
- Seniors may qualify for Medicaid by spending down assets safely
Federal law dictates that only someone below a benchmark level of assets can qualify for Medicaid, beyond which it is determined that the individual does not have the assets to pay for his or her own care. Many seniors who apply do not receive Medicaid because their asset level is too high to qualify. In [...]
- Facts to know about Medicare and retirement
If your 65th birthday is approaching, you should make sure you are aware of your Medicare options and are prepared to enroll in Medicare if necessary. Here are a few things you should know. First, if you are receiving Social Security benefits already, then you will be enrolled in Medicare Part A (hospital insurance) and [...]
- Bill would fund Hampton Roads veteran care center
A bill has been introduced in the Virginia state legislature to provide state funding for a new health care center for veterans in Hampton Roads, The facility would supplement the care provided by the Hampton VA Medical Center. The new center has been proposed before, but funding was stalled. Now, a dispute over a new [...]
- Advance Medical Directives Need Easy Accessibility
Many people are aware of the importance of advance medical directives. In the event that you become incapacitated, these directives detail what procedures you do or do not want and who should make decisions for you. Because these are important documents, people often keep copies in safe deposit boxes or leave them in the care [...]