Considering Tennessee Retirement?
You’re not alone if you are thinking about a Tennessee Retirement! Tennessee is a perfect place to retire – for so many reasons. It’s a blessing to be able to choose where you live – and Tennessee surely is a good place to be! Here are a few
reasons to retire in Middle Tennessee:
- Weather – We do have four seasons – but winter is short (typically January and February) and usually mild. It does get cold sometimes – but the abundance of sunshine makes it feel warmer. You will see very little snow in Middle Tennessee. Spring is glorious, summers can get hot in July and August…and the fall season is absolutely beautiful! The location here is great because (1) we’re too far south for the heavy snows
- and blizzards, and (2) too far north and west for the hurricanes. The soil around Memphis is sandy near the Mississippi River, and could have problems with liquification in case of a New Madrid earthquake. But, the Nashville area soil is on a rock foundation…and in my opinion, is a much safer place to live.
- Taxes – Tennessee has no income tax! Social Security and retirement benefits are not taxed at the state level. There has been a flat 6% tax on interest and dividend income – but even that is going away. The Hall Tax Bill cut it down to 5% in 2016 – and it continues to go down to the point of being eliminated by 2022. In the meantime, there is a $1,250 per person exemption on interest income. We do have a high sales tax of 9.25%, and there is an inheritance tax on estates larger than $1,000,000.
- Real Estate Taxes – People from all over the country tell me that our real estate are much lower than what they are accustomed to paying in other states... read more