Discovering The Main Reasons To Retire In Tennessee
Is Tennessee a good place to retire? That’s the question of the day. So, let’s fully explore the answer. First, please allow me to address the question head-on.
Why Is Tennessee A Good Place to Retire?
Tennessee is a good place to retire for anyone seeking reasonable living expenses, a low tax burden, mild winters, access to health care services, and a high quality of life. Furthermore, retirees love Tennessee’s natural beauty, southern charm, culture, and urban amenities.
Next, let’s dig into the details behind the answer so you will better understand the benefits of retiring in Tennessee.
Disclosure: At no cost to you, I may get commissions for purchases made through links in this post.
Reasonable Cost Of Living
Many retirees’ most significant concern is outliving their retirement savings. So, unless you are one of the few with a sizeable nest egg, the cost of living tops the requirements for people seeking a good place to retire.
Here’s the excellent news. Tennessee has one of the lowest costs of living in the U.S.
The state ranks in the top 10 cheapest states based on research by Forbes Home AND the Missouri Economic Research and Information Center (MERIC).
Here is how the data from MERIC’s recent cost of living survey shakes out. A value of 100 equates to the national average.
What sticks out to me is the affordability of Tennessee houses. Housing typically takes the largest share of a family’s budget.
| Expense | % of US Average |
| Grocery | 97.8 |
| Housing | 82.9 |
| Utilities | 93.2 |
| Transportation | 90.0 |
| Health Care | 88.1 |
| Miscellaneous | 92.8 |
| Overall | 90.4 |
Thus, Tennessee retirees can count on living for less, benefiting from reasonable median home values and other costs that won’t put a tight squeeze on a budget.
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Next, I have more great news for your retirement budget.
Low Tax Rates
Tennessee retirees enjoy one of the lowest tax burdens in the United States (source – Finance Buzz.)
Here are the main reasons why. Tennessee is one of only nine states that does not have a state income tax. Plus, retirees here benefit from low real estate taxes.
Thus, the state does not tax retirement earnings from part-time work, dividends, or interest. Neither is retirement income from pensions, social security, or retirement plans taxed at the state level.
Furthermore, Tennessee has some of the country’s lowest average effective property taxes (source – Wallet Hub).
Retiring in Tennessee is a win-win for your finances because Tennessee retirees keep more of what they make from the low taxes. And they spend less of the money they earn because of the low cost of living.
Next, let’s move to other essential topics about Tennessee living besides money, which is critical for retirees.
Mild Winter Weather And Distinct Seasons
Tennessee is known for mild winters and enjoyable changing seasons.
Retirees looking for a new home in the state are attracted to year-round opportunities to get out and about. They are free of worry about prolonged frigid temperatures, snow, or icy periods.
Tennessee winters typically see high temperatures rise into the 50s. At the same time, low thermometer readings fall only to about freezing. Furthermore, snowfall is limited, other than in the higher elevations of the Eastern Tennessee mountains.
Retirees in the Volunteer State also enjoy gorgeous spring seasons that bring the foliage into bloom. In addition, the fall seasons provide a spectacular color show of beautiful changing leaves.
Tennessee is a good state to retire in because of this next point. So, let’s keep moving and consider all the points of view about Tennessee.
Access To Highly-Rated Health Care Services
Tennessee retirees have access to convenient and high-quality health care. This service is essential for all of us as we age and encounter more health issues during retirement.
For example, Nashville, centrally located in the heart of middle Tennessee, is home to the Vanderbilt University Medical Center (VUMC).
VUMC is one of the most highly-rated hospitals in the country. Furthermore, the Nashville metropolitan area has more than 20 other hospitals. Memphis and Knoxville also have top-rated hospitals and healthcare service providers.
So if health care is one of your retirement priorities, consider moving to Tennessee, but relocate to or near one of the state’s larger cities.
An Exceptional Quality Of Life
Tennessee offers a high quality of life mainly because of the diverse lifestyle options and attention to the needs of retirees. Please allow me to explain several of the features you will find.
Urban amenities. Did you know Nashville is one of the top 25 largest cities in the country based on population?
Rural communities. The state offers thousands of small towns and many miles of rural areas. They are perfect retirement destinations for finding a slower pace of life during your senior years.
I immediately think of small Tennessee towns for retirement living, such as Clarksville, Cookeville, Johnson City, and Maryville.
Unique and beautiful outdoor spaces. Tennessee has over 10,000 caves to explore. The state has more than 50 state parks. Furthermore, the Great Smoky Mountains National Park is in Eastern Tennessee and North Carolina. These spaces and places provide for many fun outdoor activities.
Tennessee has an abundance of food and cultural options. Fine dining, excellent barbecue, lots of festivals, and a robust music scene spanning blues, rock, country, and the music of Appalachia are all part of the Tennessee culture.
Retire Tennessee. This unique program consists of rural and urban communities across the state. Each community meets the state’s criteria of providing the resources and amenities needed to be a viable retirement destination.
Okay. That concludes my review of five reasons Tennessee is a good place to retire.
So, please allow me to close with a summary and a few parting thoughts. But before you forget, please save this image to your Pinterest board!
Why Is Tennessee A Good State To Retire In?
Why do people retire in Tennessee? Please allow me to list the main reasons.
Retirees love Tennessee because of the following conditions:
- Reasonable cost of living
- Low tax rates
- Mild winter weather and distinct seasons
- Access to highly-rated healthcare services
- An exceptional quality of life
However, it’s essential to understand that moving to any retirement destination is a big decision. Thus, I recommend you carefully examine the many pros and cons of living in Tennessee before you move.
Best Places To Retire In Tennessee
Finally, here are some places to explore retirement living in Tennessee. From big cities to small villages and everything in between, Tennessee has some of the best places to retire in the country.
Best Places To Retire In Tennessee For City Amenities
- Nashville
- Memphis
- Knoxville
- Chattanooga
Best Places To Retire In Tennessee For A Big City Suburban Lifestyle
- Collierville (Memphis)
- Franklin (Nashville)
- Germantown (Memphis)
- Murfreesboro (Nashville)
- Oak Hill (Nashville)
Best Places To Retire In Eastern Tennessee’s Small Towns Near The Mountains
- Johnson City
- La Follette
- Maryville
- Rockwood
Best Places To Retire In Tennessee For Golf, Arts, And Culture
- Clarksville
- Cookeville
- Crossville
Regardless, best of luck with your decision, no matter where you settle down.
Author Bio: Tom Scott founded the consulting and coaching firm Dividends Diversify, LLC. He leverages his expertise and decades of experience in goal setting, relocation assistance, and investing for long-term wealth to help clients reach their full potential.