The Only 10 East Coast States Where Retirees Likely Won’t Run Out of Money

Where you live has a massive impact on your retirement plan. As many older Americans reach retirement age, they wonder whether they have the savings to last through their golden years. Moving to an expensive state is a surprising retirement mistake that too many Americans make, sapping their savings and putting them in dire financial straits. It's a better move to choose a state with favorable economic conditions for retirement.

Using data from a recent Seniorly.com study, along with other sources of data about retirement destinations, we found the top 10 East Coast states that are best for retirement.

10 East Coast states where your money stretches the furthest in retirement

1. Maryland
2. South Carolina
3. Delaware
4. Virginia
5. North Carolina
6. Georgia
7. Florida
8. Pennsylvania
9. New Jersey
10. Maine

1. Maryland

With its abundance of natural beauty, excellent public transportation, and favorable tax structure for retirees, Maryland is an ideal place to retire. The state allows for tax exemptions on retirement income along with property tax credits, so you can stretch your savings out.

The state also features great health care facilities and access to plenty of cultural adventures. Maryland is one of the few states where retirees are expected to have a savings surplus, making it one of the most attractive states on the list.

2. South Carolina

Great weather, coupled with a low cost of living and favorable tax rules for seniors, makes the Palmetto State an ideal retirement destination. South Carolina has special tax rules for people aged 65 and older, so you can claim up to $10,000 in deductions from your retirement accounts.

Beyond just the financial savings, the state has plenty of rich history and incredible scenery, so you'll find plenty of things to occupy your time.

3. Delaware

This is one of the hidden gems for retirement states on the East Coast. With no sales tax, low property taxes, and exemptions on pension income and Social Security benefits, Delaware is an ideal place to retire. One of the biggest advantages is that you'll have easy access to large East Coast cities like Philadelphia and New York, not to mention plenty of idyllic beaches along the Delaware coast.

4. Virginia

The state has very reasonable tax laws for seniors, with no tax on Social Security and the ability to deduct up to $12,000 in pension benefits from taxable income. Coupled with gorgeous scenery and a plethora of beaches, it's easy to see why Virginia is a retirement destination. Additionally, the state has some of the highest-rated health care facilities in the region.

5. North Carolina

With numerous high-quality health care facilities and moderate tax benefits for retirees, North Carolina is an ideal destination for those looking to relocate later in life. Additionally, the cost of living is manageable for people on a fixed income, and there are loads of outdoor and cultural attractions.

6. Georgia

The Peach State boasts a relatively mild climate and offers generous tax benefits for retirees, along with a wide variety of cultural and outdoor attractions. The state is welcoming to transplants, and for good reason. Georgia boasts a vibrant arts and culture scene in its major cities, as well as a number of spots for outdoor recreation. You can get a mix of beachfront towns and secluded woodland adventures that's hard to find for this price elsewhere.

7. Florida

While the cost of living can be high, there's a good reason: Florida is still an ideal retirement location. Between year-round warm weather, no state income tax on Social Security or pensions, high-quality health care, and a large retirement community, moving to the Sunshine State is a no-brainer. If you are willing to move to less popular retirement spots, you'll find that Florida is quite affordable for those on a fixed income.

8. Pennsylvania

With no state tax on Social Security or any retirement accounts, the Keystone State has plenty to offer retirees. Between two major cities, Pittsburgh and Philadelphia, you've got miles and miles of outdoor adventures. Combining the excitement of city life with the calmness of the outdoors is a significant plus for anyone during retirement. Multiple smaller towns in the countryside, such as Lancaster, are highly rated as top destinations for retirees.

9. New Jersey

Excellent public transportation, proximity to many major cities, and a favorable tax structure for Social Security and other retirement benefits make New Jersey a good place to retire. There are plenty of historic colonial towns, along with many beachfront communities on the Jersey Shore. You can enjoy the hustle and bustle of the big city while living a quieter suburban lifestyle when you want.

10. Maine


Those looking to retire in New England should consider Maine as a potential destination. It's close enough to all major attractions in the region, but it's less expensive and has more rural charm than other parts of New England. That, plus generous tax breaks for retirees, makes it an affordable place to settle down in.

Bottom line

Retiring on the East Coast doesn't have to drain your nest egg if you choose the right state. From Maryland's projected savings surplus to Delaware's tax perks and Florida's no-income-tax edge, several coastal states blend affordability, quality health care, and lifestyle benefits to stretch retirement dollars further. While big cities grow pricier, many smaller towns and inland communities remain affordable.

With the average retiree facing a $150,000 shortfall between savings, Social Security, and expenses, location could mean the difference between outliving your money or retiring comfortably, not to mention withstanding any sudden economic downturns that arise.