Las Vegas Sun

October 23, 2014

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Report: Despite low taxes, Nevada bad for retirees

Add a checkmark in the “worst” column.

Nevada's low taxes are appealing to retirees, but that's offset by negative factors that help make Nevada the worst state in the country for retirees, according to personal finance website Money-Rates.com.

The criteria used in the ranking look at economic factors, climate, crime rate and life expectancy. MoneyRates spokesman Richard Barrington says in the report that Nevada got high rankings for having the second lowest tax rate in the country, but scored poorly elsewhere.

“Gambling enthusiasts may disagree, but high crime rates and a dismal economy make Nevada a bad bet for retirees,” Barrington writes.

The economic factors looked at cost of living, unemployment and the tax burden. The report says Nevada’s unemployment rate is 14.3 percent (it has since climbed to 14.4 statewide and 15 percent in Las Vegas), but had only a 6.6 percent tax burden.

When it comes to climate, the study used 68 degrees as the standard temperature and rated states according to how far their monthly temperatures varied from 68 degrees.

According to the report, Nevada is third in the nation in violent crime and 13th in property crime. And the life expectancy in Nevada is 75.8 years.

The following states, in order, are MoneyRates’ worst for retirees: Nevada, Michigan, Alaska, South Carolina, Maryland, Tennessee, Ohio, North Carolina, Missouri and Arkansas.

On the other end of the spectrum, MoneyRates ranked New Hampshire as the best state to retire in, followed by Hawaii, South Dakota, North Dakota, Iowa, Virginia, Utah, Connecticut, Vermont and Idaho.

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  1. Wrong - The eastern states have extremely high utility rates and property taxes. Drivers are insane anywhere you go. Retired people don't want to take care of yards. I'm 61 and am planning on hiking Mt Charleston soon. Housing is very inexpensive in Vegas right now and crime can happen anywhere when you least expect it - even in so called "safe" communities.

  2. TheSerfAttack,

    Five of the top ten states listed have the some of the highest electric rates in the country.

    There is lots of good food in this town. You don't have to just eat at Casinos but some of them also have some great food.

    What do you know about Hospice care in Vegas. I have had dealings with some and it has been good.

    Retired people are not looking for houses with huge yards so your argument there holds no water.

    Go to the Marina's at lake mead. You will find tons of retired people there. They love it and can afford some of the nicer boats in the marina.

    There are area's of town that you need to watch for crime but in the 50+ years I have spent here I have not hand any problems. I am one of the "older" ones you are warning Vegas about. I love it here.

    If you feel it is so bad there are buses leaving hourly. ;-)

  3. I just retired and moved here from Oregon. I escaped the rain, cloudy depressing days. I will miss the ocean and mountains that were only an hour away, as well as my hunting trips. However, I was not going to let Oregon keep my retirement money through the high taxes. I bought a very nice house here and have enjoyed the sun. The traffic is no worse, but the drivers need some lessons. Gas is cheaper, as well as garbage rates and power. I have not experienced any health problems yet, so no comment. So far so good. I will not move to the snow or an island. It is good here. As for the crime, I carry.

  4. Why did Sherm Fredrick of the RJ go to AZ for medical treatment?

    I thought the Sheriff was bragging about a low crime rate?

  5. I think the article is untrue. The quality of cancer care is excellent. The cost of living is great since we do have outrageous income taxes that they have in California or New Jersey. The quality of restaurants is pretty good as well. Las Vegas does not lack in too many things for retirees. The author did not do much research for the article.

  6. Another stupid report with bad methodology.

    Why would unemployment rate be a factor for a retiree index? THEY ARE RETIRED?

    Why look at overall life expectancy? THEY ARE RETIRED. Look at life expectancy for people age 65 - that is actually relevant.

    As for crime rate I wonder how much of that is Strip related. That is controlling for the fact that retirees are most likely to live in retirement communes, what is the crime rate out in these communities?

    Also, Nevada has harsh drug laws that are probably contributing to more violent crime.

  7. Interesting comments - presume that retirees don't care about education when you encounter people who look normal but can't read and who have little hope. Something is wrong. Yes, doubtless the healthcare is bad - I am happy with my docs but I am not seriously ill. Ok, so I am also moving to Louisiana where corruption is rampant and the natives are charming.

  8. Agree with Patrick Gibbons. If you aren't out at night and you aren't involve in drugs, you're probably not going to be impacted by the crime rate. If you're in bad health, you might be better off living near UCLA or the MAYO clinic but otherwise not. No employment issues either. So it's warm, taxes are relatively low and you're near an airport for family visits.

  9. The libertarian loons with their "low tax crap" have ruined this state. CNBC rates Nevada at the bottom because of poor education so far as business climate.

    Raise taxes, improve education, infrastructure and reduce crime. People pay for the high crime rate by having to live in a "gated community" and paying higher insurance costs.

    The libertarian loon right wing stink tanks have taken a wrecking ball to this state with their sick crackpot philosophy. I wish they would move to some third world hell hole with the "small government" they crave.

  10. No place like Las Vegas, Go to Ellis Island and enjoy a Prime Rib for $12.00 That would run much More anywhere and the Quallity, would not compare!
    Some folks would find reasons to complain
    ANYWHERE!!,
    If $$$, and Med Care is the issue, try Panama, Nicaragua and Costa Rica, and U malcontents will find reasons to COMPLAIN there TOO!!!

  11. Since when did retirement become a job??? You can not get laid off from it. I plan to retire to Vegas soon if I survive the high cost of living in NYS and another cold freezing winter. Every FEE (Tax) has gone up here and will be going up again as soon as the next bunch of crooks get elected. Compare Nevada to NYS state of finance and Nevada comes out ahead. NYS is 9 Billion$$$ in the hole.Who ever did this article ought to be sued for slander. New Hampshire may be cheaper but you are living in small one horse towns miles away from services such as hospitals and etc and if you live anywhere near a populated area housing prices will scare you. The weather sucks like where I live in NYS. The person who wrote this article must think living on Golden Pond is a real year around thing. Every article I have read rates Nevada as one of the top Ten states for retirees. Crime happens every where.

  12. I am still a few years away from retirement age. However, I somewhat hope that the water issues will be resolved by then and the pipelines from "anywhere-ever-land" will be finished so there will be enough water available for the future generations in Las Vegas. Don't make a bet that Lake Mead water level will continue to climb again. It will be a longshot and this event will probably never happen again. Therefore, building a new dam is a waste of money and they should focus on the water pipeline from the North (Utah, Canada, Alaska, wherever). Once this is done, I might apply for a permanent residency in Las Vegas. I think it's a great place for people with a fixed income and people that like the sun and gambling. Nothing beats dry heat and warm weather when it's cold anywhere else during the boring winter period.

    From Switzerland