5 Best States for Seniors Who Need To Work in Retirement
Written by
Yaël Bizouati-Kennedy
Edited by
Chris Cluff
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Views around retirement have drastically changed since the pandemic due to a slew of factors. First, inflation and cost of living increases have made saving for later years very difficult for many Americans — or have at least eaten away at their nest egg.
This was reflected in Allianz Life’s 2024 Annual Retirement study, which showed that a startling 63% of Americans say they worry more about running out of money than death. This figure is up from 57% in 2022, Allianz noted.
In parallel, attitudes toward retirement itself have shifted — and Americans approach this new phase of their life in very different ways.
For instance, many seniors either work longer, or decide to re-enter the workforce and “unretire” for a variety of reasons — whether it’s to generate more income or to remain intellectually or physically active.
In fact, the Fidelity Investments State of Retirement Planning study showed that “two-thirds of Americans look forward to pursuing work for pleasure while in retirement and hope for a phased retirement — working full-time at first, then part-time, before stopping altogether.”
What’s more, a Paychex survey found that “one in six retirees are considering returning to work,” and “55% of them went back to work because they needed more money.”
Against this backdrop, here are some cities and states that are considered the best for seniors who need to work, according to U.S. News & World Report.
Ann Arbor, Michigan
The biggest employer in the area is the University of Michigan. In addition, the University of Michigan Hospitals-Michigan Medicine “ranks as No. 11 on the U.S. News Best Hospitals Honor Roll and is a major provider of health care jobs,” according to US News.
Miami
Of course, Florida is one of the states that come to mind when thinking about retirement locations. Yet, if you still need to work, you also might want to consider Miami.
As US News noted, the city boasts several large employers, such as “the University of Miami, several health care providers, international banks and cruise lines.”
And there’s another bonus: Florida does not collect state income tax.
Nashville, Tennessee
Nashville, known for its prominent music scene, offers a lot of jobs in the entertainment sector. In addition, US News noted the presence of numerous universities in the area, serving as employment hubs.
Finally, Tennessee “doesn’t tax earned income, which can help your retirement job income to stretch further,” US News added.
Manchester, New Hampshire
One of the Manchester’s advantages is its proximity to Boston. Large employers “include several hospitals and medical centers and Southern New Hampshire University,” according to US News.
While the state doesn’t tax earned income and doesn’t collect sales tax, it does feature high property taxes.
Dallas-Fort Worth, Texas
This metro is host to numerous large corporations’ headquarters — including American Airlines, Exxon Mobil, Cisco and IBM — according to the Dallas Chamber of Commerce.
Another bonus is the metro’s lower cost of living as compared to similar sized cities. Finally, Texas also doesn’t collect income tax.
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