Benefits Of Retiring In Arizona

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Breathtaking National & State Parks

UnitedHealthcare has information Medicare & Retirement in Arizona

As the home of the Grand Canyon National Park, Arizona welcomes the world to one of the natural wonders. Living in Arizona puts this amazing sight only hours away or closer depending on where you decide to live in Arizona.

Red Rock State Park which is near Sedona, AZ is a favorite for residents of the state and more. Its a mecca for riding horses, hiking, and riding bicycles. Surrounded by incredible red rock formations its chalked full of history and beautiful sights.

Something not many know is that the Original London Bridge, direct from London, England was moved to Lake Havasu City, Arizona. Now how neat is that?

Arizona Vs Nevada Taxes

Theres no escaping the fact that the vast majority of retired Americans are on some sort of fixed income. While that income may be high or low, its very important to check out Arizona vs Nevada taxes.

Arizona Arizona charges income taxes on all withdrawals made from your retirement accounts, which can add up to a small fortune over time! However, Arizona exempts Social Security from taxation.

Nevada Nevada has no state tax on income, estate or inheritance tax, which makes it great for individuals with high incomes, large retirement savings or good pensions. This often means more money in your pocket throughout your retirement, which can be a deal-breaker for some.

Especially for those moving to high-tax states such as California, New York, or Illinois, Nevada is a good choice to stretch your retirement dollar. For Californians, you can really see the difference in our California vs Nevada Tax Guide.

For Disabled Veterans And Surviving Spouses To Be Eligible For Arizona Property Tax Exemptions:

  • You must be a resident of Arizona.
  • Total assessed valuation of property in Arizona must not exceed $27,970 for the 2021 tax year.
  • Total income from all sources, excluding social security, cannot exceed $34,301 .
  • If children under 18 years of age or disabled children reside in the household, income cannot exceed $41,151.

For exemptions based on disability, the disability must be total and permanent, and certified by a licensed physician.

For surviving spouses, the applicant and spouse must have been Arizona residents at the time of the spouses death, or the applicant must have been a surviving spouse residing in Arizona prior to January 1, 1969.

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Arizona: A Brief Overview

Indigenous cultures of the Arizona area called the land their home as far back as 12,000 years and included the ancestral Puebloans, Hohokam Mogollon, and Patayan peoples.

The Spanish began exploring the area in 1539 in search of the fabled Seven Cities of Gold and later established Fort Tucson in 1775. After the Mexican War in 1848, America claimed most of Arizona and later added the Gadsden Purchases southern territories in 1853.

Arizona is the heart of Americas Old Wests legends, Geronimo and Cochise, who led their brave followers against the invading frontiersman. Tombstone was the scene of one of the most famous American gunfights called the Gunfight at the OK Corral. Today, almost a quarter of the state is Indian reservations, home to 27 federally recognized Native American Tribes, including the Navajo.

Manufacturing has been Arizonas most important industry, with electrical communications and aeronautical equipment being high on the list. Arizona is known as the Copper State, producing over half the countrys copper. Agriculture and livestock such as cattle and dairy contribute to the states economy.

State Of Arizona Mandatory Retirement Programs

Why Retire In Arizona?
  • Classified Staff participate in the Arizona State Retirement System .
  • Public Safety Personnel participate in the Public Safety State Retirement System .
  • Employees not designated above may make a one-time, irrevocable election to join either the Arizona State Retirement System or the Optional Retirement Plan . Eligible employees must elect a retirement plan within 30 calendar days of their eligibility date. An employee who fails to elect a plan within 30 days will permanently default to membership in the ASRS.

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Are There Any Disadvantages To Retiring In Arizona

If you decide to retire to Arizona, then you will want to carefully research where you decide to live. The crime rate in the state is higher than the national average, but this disadvantage is due to the fact that there are pockets of crime in the major cities like Phoenix that counter the lower rates found in the rural areas.

List Of The Cons Of Retiring In Arizona

1. The crime rate in Arizona is higher than average in the United States. If you decide to retire to Arizona, then you will want to carefully research where you decide to live. The crime rate in the state is higher than the national average, but this disadvantage is due to the fact that there are pockets of crime in the major cities like Phoenix that counter the lower rates found in the rural areas. Several neighborhoods in the urban areas have low crime levels as well, so make sure that you speak to your realtor or rental agent about what the best options for your needs happen to be.

2. The weather in Arizona can get very hot during the summer months. If you live in the mountains when you decide to retire to Arizona, then you can experience all four seasons and have a reasonably moderate temperature profile to enjoy. When you decide to live further south in Phoenix or Tucson, then there is a very different story to consider. The average temperatures of each city exceed 100° as the high from June until September. The coldest month of the year is December, when the high average is 67°. It is very rare for the southern part of the state to have a high temperature that is not higher than 90° after the month of May until you reach the first week of October.

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Pro #: Low Cost Of Living

In addition to a strong economy, Arizona is also more affordable to live in than most other states, according to BestPlaces. Whether you desire to move into a one-bedroom, two-bedroom or even studio apartment, chances are high that youll pay less in the state of Arizona. Combine the affordable living costs with the strong economy and job market, and your financial future seems secure.

Benefits Of Retiring In Arizona

How ASRS Contribution Rates are Set and Determined

There is a good reason why for years now Arizona has been one of the most popular retirement spots. In fact, developed more than fifty years ago was the very first of its kind in the United States, an Active Adult Community which is located in Sun City, Arizona. It is more than obvious why people are choosing Arizona for their retirement years. Its not just for all the days of abundant sun it offers, or all the golf courses. Read about some of the benefits of retiring in Arizona discover how it could be the right place for you.

One of the main reasons for choosing Arizona to retire in would be for the benefits of not being taxed on your Social Security checks by the state. Those who live on a fixed income understands the importance of making it go as far as they can, just as they know it is always better when taxes are in their favor. Arizona is wonderful for retirees, it is a tax friendly state and they are not going to tax your Social Security Benefits, which is significant these days. Approximately half of the states within the United States do tax your Social Security Benefits.

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Property Tax Exemptions For Arizona Veterans

Widows, widowers, and disabled military persons property tax may be waived/exempt from taxation in certain cases.

The assessed value of a property may be reduced by $4,117 or more with a corresponding reduction in tax. The exemption is applied to real estate first, then to a mobile home or an automobile.

There is no state property tax in Arizona. Property tax is administered by county assessors. Valuations for the current tax year are available from the county assessor after January 1st of each year.

Arizona Is Not Well Represented On The Best Places To Retire List

The U.S. News & World Report publishes an annual Best Places to Retire study based on various factors, including taxes, affordable housing, happiness ratings, and desirability. In their 2021 edition, youd have to keep scrolling to find Arizona on the list Phoenix and Tucson were the only cities on their list to crack the top 100. This is a sharp contrast to the state of Florida which dominates the list with 13 of the top U.S. 25 cities and 7 out of the top 10, including #1, Sarasota.

That said, their research isnt the be-all and end-all of studies on top retirement destinations. Google best places to retire in the U.S. and youll find various that better represent Arizona, including cities such as Mesa and Green Valley. And while Arizona, may not be as well represented as Florida, there are reasons beyond the sunny weather and scenic views youd be hard-pressed to find elsewhere as to why so many people are choosing to retire there .

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Delicious Restaurants & Festivals

One of the United States longest running culinary festivals is the Scottsdale Culinary Festival and it attracts more than thirty-five thousand visitors every year. This six-day festival showcases restaurants, micro brews, gourmet foods, celebrity chefs, and fine wines.

One of the top events in Arizona is the Arizona State Fair, attracting more than a million people to the state of Arizona to be at the concerts, and watch the races, enjoy rodeos, view the livestock, and to checkout numerous food booths.

Arizona has many unique foods to offer, such as mesquite honey, prickly pear margaritas, and cactus jelly. The majority of Arizona will not consist of shoveling snow.

Tucson, Arizona has something to offer those wanting to go back in time, to their roots in the 1960s, which is the Tucson Folk festival. This festival attracts over ten-thousand lovers of folk music and it happens to be one of the top United States folk festivals, it offers over twenty hours of free live music featuring bluegrass, old country, western, and Irish music.

The Sun Is Always Out

Retiring in Arizona Archives

Arizona averages 300 days of sunshine every year, only making up for it during its monsoon season. While this does mean that you might have to start carrying sunblock in your bag or car, it also means that seasonal depression isnt really a thing there. If the winter blues get you down every year, Arizona could do wonders for you.

Of course, moving to a place of eternal sun might mean some lifestyle changes. Make sure you always have sunblock and ideally a hat, too and of course, make sure you stay hydrated as well. Those desert rays can get extremely hot.

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Common Questions About Retiring In Arizona

Is Arizona a good place to retire to?

Arizona is a great state for retirees! Its fabulous weather and scenery are perfect for active adults that want to get out and enjoy nature. You can live an exciting, and often allergy-free, life when you spend your golden years in Arizona.

How much do you need to retire in Arizona?

To retire comfortably in Arizona you should have about $1.2 million in savings, slightly higher than national average, but in line with other hot retirement destinations like Florida.

Is Arizona a tax-friendly state for retirees?

Arizona is a tax-friendly state for retirees. Social security benefits are not taxed and income from pensions are eligible for deductions. Income from a 401 is taxed though.

Is it cheaper to live in Arizona or Florida?

Arizona is a more affordable state for retirees than Florida. It offers people more affordable housing, lower property taxes, and lower home prices.

City Name

Arizona State Retirement System

ASRS is a Defined Benefit Retirement Plan administered by the State of Arizona. Participation begins on the first day of the pay period following 183 days of employment. For employees with prior ASRS membership of at least 183 days and monies on account, the waiting period does not apply, and participation is effective on the date of hire. Contribution rates are adjusted annually by ASRS, and the University matches employees contributions up to IRS limits.

Retirement benefit payments are calculated through a formula that includes years of service, age at time of retirement, and recent salary. Several payment options are available.

Participants who terminate employment remain eligible for retirement benefits if they leave their contributions on deposit in the plan. Separated employees who take a refund of their account automatically terminate their ASRS membership.

Long-term disability insurance is provided to active, contributing ASRS members. Both the employee and the University pay premiums for this benefit.

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Living In Nevada Vs Arizona

Both states offer a myriad of activities, entertainment options, and outdoor fun. From rafting and camping to hiking and more, the desert is the perfect playground for active retirees.

Arizona Arizona is known to offer plenty of golf, sure, but its also one of the hottest places in the country. On the other hand, there are several attractions to be found in the cities of Phoenix, Mesa, and Scottsdale.

Considering both Las Vegas and Phoenix for retirement? Check out Living in Las Vegas vs Phoenix.

Nevada Like Arizona, you will find plenty of outdoor entertainment options in Nevadas great open spaces. Yet, unlike Arizona, Nevada is more than just golf courses it has Las Vegas. theres no denying that living in Las Vegas means having instant access to some of the worlds greatest gaming and gambling establishments, casinos and entertainment barely scratch the surface of what Las Vegas has to offer.

Known as the entertainment capital of the world, Las Vegas has quickly become the new trendy place to retire. Its existence really helps to clear up the debate about whether to retire in Nevada or Arizona!

Access To Affordable Health Insurance

Your Benefits As An ASRS Member (Rev. Oct 2019)

The Arizona Department of Administration Benefit Service Division provides health insurance benefits to teachers enrolled in Arizona public schools. These benefits are available to not only you, but to your family members and dependents as well.

Arizona teachers can choose between three different health insurance plans:

Exclusive Provider Organization Teachers must obtain services from a network provider. Out-of-network services can be provided only in emergency situations. The EPO plan is provided by all four networks in Arizona: Aetna, Blue Cross and Blue Shield of Arizona, CIGNA, and United Health Care.

Preferred Provider Organization Teachers can obtain services from in-network and out-of-network providers, but have higher costs for both. The PPO plan is provided by Aetna, Blue Cross and Blue Shield of Arizona, and United Health Care.

Health Savings Account Option A high deductible health plan that allows teachers to open a health savings account that allows tax free contributions, earnings, and healthcare related withdrawals. The HSA plan is provided by Aetna.

For example, if you choose a PPO plan, your overall deductible for in-network providers is $500 those in the EPO plan pay $0. In the HSA option, your deductible would be $1,200 for in-network providers.

The plan estimates that the cost of a normal delivery would amount to $7,540. Under the plan, the teacher would only need to pay $590, with the remaining cost being picked up by the plan.

  • Acupuncture

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Are There Arizona Military And Veterans State Income Tax Benefits

Tax-Free Arizona Resident Military Active Duty Pay: Arizona does not tax active-duty military pay. You can subtract the amount of pay you receive for active duty military service to the extent it is included in Arizona gross income.

Arizona State Tax Exemption of $3500 on Retired Military Pay: Benefits, annuities and pensions up to $3,500 are exempt from Arizona gross income, if they are from one of these funds or systems:

  • The United States government service retirement and disability fund
  • Retired or retainer pay of the uniformed services of the United States
  • The United States foreign service retirement and disability system
  • Any other retirement system or plan established by federal law.

Pima Air And Space Museum

The Pima Air and Space Museum offers one of the worlds largest aircraft collections with over 400 historic aircrafts. From the SR-1 spy plane to the standalone WWII military museum, the museum provides indoor and outdoor exhibits from Wright fliers to a 7878 Dreamliner. The museum covers over 80 acres with six indoor exhibit hangars, three of which are WWII-focused.

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Pros Of Retiring In Arizona

What Are The Advantages of Retiring in Arizona?

When most people think about the pros of living in Arizona the first thing that comes to their mind is sunshine! With over 80% of the year boasting sunny days, its easy to see why this tends to be the driving factor. However, there are a lot of other benefits to retiring in Arizona including world class golf, award winning restaurants, a flourishing fine arts scene and more.

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