Retiring Soon? Top Reasons Why Las Vegas is a Great Bet
Despite its rowdy reputation, living in Las Vegas means much more than casinos and entertainers. In reality, this desert city is an amazing place for retirees to settle down and enjoy their Golden Years to the fullest. A growing number of seniors are starting to realize the potential of Las Vegas as a retirement hotspot. Per the most recent U.S. census, the 65+ population in Clark County, Nevada reached 15% of the total population.
Choosing to retire in Las Vegas is a gamble worth taking – below you’ll find just a few of the many reasons why:
Activities Abound for Retirees in Las Vegas
Although Las Vegas, or “Sin City” as its often referred to, is more than just casinos, it would be remiss to not mention their contribution to the overall atmosphere of the city. Casinos, renowned restaurants and vibrant nightlife are the staples of the famed Las Vegas Strip – and retirees looking for a little fun can bet they’ll always find it. Even if you’d rather avoid the gambling scene, you will find that the city offers plenty to do. Attractions such as the Mandalay Bay Aquarium, the National Atomic Testing Museum, and the wide array of golf courses offer a great alternative to the casinos for retirees.
Las Vegas also offers many activities beyond the strip – and many of them are accessible all year round due to the endless sunshine, limited rainy days and year-round warmth enjoyed by those who live there. Retirees can take advantage of the many scenic outdoor attractions in and around the city. There are a variety of parks and recreational areas for you to enjoy. Also, if you’re up for a drive, the Grand Canyon is not far and Lake Powell is only a few hours away. Both Zion and Bryce Canyon National Parks can be visited on a weekend.
Retirees in Las Vegas Can Save Big on Taxes
Your Golden Years should be a time of relaxation and enjoyment, but in order to achieve those things, you’ll need to make sure you plan for your future and live within your means. Luckily, Las Vegas is a great place to live for seniors looking to stretch their retirement dollars as far as possible. According to SmartAsset, the state of Nevada is very tax-friendly for retirees. Social security income and income from other retirement accounts are untaxed, which is good news for any senior planning on living primarily off of their fixed income during retirement.
Beyond retirement income tax benefits, there is no state income tax for people who live in Las Vegas, which means if you can keep more of what you earn if you choose to continue working during the earlier years of your retirement. There is also no estate or inheritance tax to think about, which is an added bonus for retirees.
Las Vegas is Home to a Variety of Senior Living Options
Getting everything you want and fully enjoying your retirement are top of mind concerns for many seniors, but it’s important to remember that your housing and living needs will likely change as you continue to age. You may require different living arrangements to accommodate for changing health and mobility needs.
If you want to stay independent, but would rather not manage an entire house, an active adult living community could be the right option for you. These “55-plus” communities offer many amenities – including pools, fitness centers, and transportation options. Living in one of these communities typically requires payment of extra fees, so be sure to discuss these fees with your real estate agent prior to deciding on any given community.
If you currently have or anticipate having complex health needs or concerns with mobility, you may want to consider moving into an assisted living facility. Assisted living facilities have staff members that assist with activities of daily living such as managing medications, bathing or keeping up with general housework. There are more than 50 top-rated communities in Las Vegas and its surrounding neighborhoods.
Contact Cambridge Realty today to get started on planning your retirement in Las Vegas! Stephanie has represented buyers and sellers in the Las Vegas market for over 20 years, and she’s ready to channel that experience into helping you find your dream home.
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