Phoenix, Arizona has long been one of the most popular destinations for retirees—attracting both snowbirds and year-long residents. Sun City, the first 55+ adult community in the United States, was developed in Phoenix in 1960. Today retirees are continuing to flock to Phoenix for the weather, low tax burden, recreational activities, and cultural attractions.
Retirees moving from the Midwest or Northeast are especially drawn to Phoenix’s warm and dry climate. Phoenix is one of the sunniest cities in the United States with sunny days over 85% of the time. The winter months are especially enjoyable with highs in the 60s and 70s. Summer can get very hot with temperatures above 100 degrees daily but thankfully there is no humidity to worry about. The climate may help provide relief for retirees who suffer from allergies or asthma.
Retirees often live off a fixed income, so retiring in a tax-friendly city where your money will last is very important. Importantly, in Arizona, Social Security income is not taxed. Additionally, there is no state inheritance tax, gift tax, or estate tax. Property taxes are lower than the national average, and Arizona state/local government pensions are exempt up to $2,500. However, out-of-state government pensions are fully taxed. Finally, in Arizona there is no state sales tax on groceries or drugs prescribed by a licensed physician or dentist.
Phoenix offers wide-ranging recreational activities for retirees to enjoy. Active retirees can hike, bike, or horse ride through the 16,000-acre South Mountain Park and Preserve—one of the largest municipal parks in the country. The park has over 51 miles of trails for people of all ability levels to explore.
On top of that, the Phoenix metro area is home to over 200 golf courses and is one of the world’s most popular golf destinations. Phoenix has golf courses to fit every style, ability, and budget. One of the most popular public golf courses is the scenic and challenging Papago Golf Course.
Phoenix retirees who are sports fans have a team to cheer year-round. Phoenix is home to a professional team in every sport—the Arizona Diamondbacks (MLB), the Phoenix Suns (NBA), Arizona Cardinals (NFL), and the Arizona Coyotes (NHL). Additionally, Phoenix has professional soccer, arena football, women’s professional basketball, and a men’s semi-pro basketball team.
Phoenix has a large number of cultural attractions, including the Comerica Theatre, where Phoenix, AZ retirees can enjoy concerts and sporting events. The Musical Instrument Museum, the world’s only global musical instrument museum, offers a one-of-kind experience where visitors can view a collection of over 15,000 musical instruments and associated objects from over 200 countries and territories. Other attractions include the Phoenix Art Museum, the Orpheum Theater, and the Heard Museum.
Estate Planning for Phoenix Retirees
If you are a retiree living in Phoenix, now is the time to create or update your estate plan. Call Nicole Pavlik Law Firm today at 602-635-6176 to discuss the estate planning options that are best for you and your family.