by Leslie Kopp
on Wednesday, June 12th, 2019 at 12:44pm.
If you are thinking of retiring soon and are wondering if Delaware might be right for you, let us share some insight from Jane Meggitt of ZACKS, an investment research firm, the that might be helpful in your decision.
Delaware offers multiple tax benefits for those reaching retirement age. While some of a retiree’s pension and 401K is subject to federal tax and state tax, anyone over the age of 60 is allowed a $12,500 exclusion for pensions or eligible retirement income. Property tax is considered low compared to many other states and if you are a 65 or older homeowner, you qualify for a tax credit of up to $400 on your primary Delaware residence. Also, Delaware does not have Sales Tax, a benefit that those of any age can benefit from.
With a large variety of towns and communities, you are sure to find an area of Delaware that fits your lifestyle. From music enthusiasts and foodies to nature lovers and beach goers, you will find it all in Delaware. There are 28 miles of beautiful beaches from Lewes to Fenwick Island that offer oceanfront retreats, high rise condos, bayfront cottages and everything in between. Towns like Ocean View, Rehoboth and Bethany Beach are all top picks on nationwide rankings such as “Best Places to Live” and “America’s Best Beach Towns”. We think Delaware is a great place to stay, play and retire, we hope you’ll agree.
To find out which Delaware Beach Community is right for you, check out our list of Coastal Towns, give us a call at 302-541-5207 or e-mail us at email@example.com
Meggitt, Jane. “The Advantages of Retiring in Delaware.” ZACKS, 29 May 2019, https://financezacks.com/advantages-retiring-delaware-7076.html.