Florida Top State For Military Retirees

After a lifetime of serving their country, where is the best state for military careerists to retire?

A recent ranking says it’s Florida.

So while we honor those who gave their lives serving our country on this Memorial Day holiday, let’s also take a moment to consider the needs of our country’s veterans.

Florida was just rated the best state for military retirees by personal-finance site WalletHub. Florida is home to the third-largest veteran population in the country.

WalletHub rated all 50 states and the District of Columbia on 22 key  metrics measuring “retirement friendliness” toward veterans, including job opportunities, the quality of VA hospitals, quality of life, and economic factors.

WalletHub notes that veterans often have different needs in retirement than your typical retiree.  For one thing, military veterans are often younger. The average officer is only 45 years old at retirement. In addition, “many of those who reenter the job market face tough challenges during the transition while others struggle with more difficult problems, such as Posttraumatic Stress Disorder, disability and homelessness,” says WalletHub.

In the ranking, Florida’s VA hospitals and tax-friendly policies compared favorably to other states. Military retired pay and survivor benefit plans are tax exempt in Florida, according to reporting by the Miami Herald.

About Mari Adam

Mari Adam, Certified Financial Planner™ has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

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