When you are deciding where to retire, it is critically important that you take a variety of factors into account. Otherwise, you might be missing out on the relaxing retirement of your dreams, simply because you have found yourself in a location less than suited to you.
In many ways, deciding where to retire is similar to deciding where to move at any point in your life or career. However, compared to what you may experience earlier in life, there are fewer limitations on your options. With retirement, your possibilities are broadened, and you have the freedom to move wherever is best suited to you and your own interests, rather than the location best suited to your career.
Have You Considered El Dorado Hills?
For many, a thriving suburban area like El Dorado Hills, California is a fantastic option for retirement. It is comfortable but also exciting and full of life as well as new opportunities and experiences. In El Dorado Hills, you will experience a quaint rural feel, but will also retain quick and easy access to all that is available in the Sacramento region.
To help you decide if El Dorado Hills is the right retirement destination for you, the associates at The Law Office of Black & DePaoli, PC have compiled a list of factors worth considering before retiring. We also offer you further insight regarding how El Dorado Hills, CA stacks up against the rest of the state, as well as national averages. In the end, of course, it is important that you retire to the location that feels right to you.
Consider this list of major factors regarding retiring in El Dorado Hills.
1. Keep Amenities in Mind
As a retiree, it is important to settle down somewhere with a high retiree livability constant. In part, this includes access to important amenities, including routine healthcare services, top-quality hospitals, and assisted living opportunities. Fortunately, In El Dorado Hills, you can expect to find a little bit of everything on the list above. To begin, the area has fantastic access to healthcare services. In fact, El Dorado Hills lists “Access to Health Services” as one of its four areas of community health focus. This means that considerable attention is dedicated to ensuring that adequate healthcare and health services are available to residents. There is also a continued focus placed on improving the quality and accessibility of healthcare from year to year. Healthcare is affordable in El Dorado Hills. The current health cost index of El Dorado Hills sits at 87.1, compared to the national average of 100. By this calculation, the cost of health services in the area is nearly 13% beneath the United States average. In retirement, having access to affordable, quality healthcare can help to further reduce your stress. In addition, as of 2016 data, about 83.2% of adults in El Dorado County are in possession of health insurance. Only around 13.1% of individuals in the area have reported experiencing either delay or difficulty obtaining healthcare.
If you choose to retire to El Dorado Hills, you’ll also have access to El Dorado Hills Senior Care Village, should the necessity ever arise. This luxurious assisted living community features six comfortable homes and promotes a relaxed and comfortable lifestyle. Daily living in the community includes medication management, caregivers, and nutrition monitoring. The community hosts a variety of activities including social events, daily exercise, arts and crafts, and non-denominational weekly services.
2. Recreational Opportunities Are Important
Choosing a city for retirement also means focusing on finding a variety of resources to promote overall wellness, including amenities like golf courses and fitness centers. Other key amenities depend on your preferences and interests, but may include things like parks or recreational land, retail and arts venues, historic landmarks, and public libraries. Again, it is important to consider which activities will bring you the most happiness and fulfillment in retirement. On the recreational side, El Dorado Hills boasts a bustling town center, packed full of retail and social opportunities. The area also features a number of parks, as well as an abundance of hiking trails. If your interests lie in nature and experiencing the great outdoors, then El Dorado Hills is a fantastic retirement option for you.
3. Factor in Safety and Crime Rates
If you are currently deciding where to retire, you have likely already begun to focus on the safety and crime rate of the area. This is, of course, highly understandable—if you do not feel safe in your living situation, there is a definite possibility that you will miss out on the relaxation and leisure time that should accompany retirement. This is why it is crucial that you do your research on crime rates, including violent crime rates, in each of the areas you are considering for retirement. However, the safety of a region involves much more than the city’s crime rate. Surely, you’ll want to retire somewhere that values road safety and maintenance, as well as having a low number of public safety incidents. This is an area where El Dorado Hills truly ticks all the necessary boxes. Thankfully, crime rates in the region are low— certainly, lower than both the national and the California average.
So, is El Dorado Hills a good place to retire? Consider these facts:
- For every 100,000 residents, El Dorado Hills sees an average of 246 instances of violent crime each year. Compare this to the national average of 379 cases of violent crime per 100,000 citizens, or the California average of 441 instances of violent crime. The El Dorado Hills area is considerably safer than other areas throughout the Golden State.
- Property crime is another concern, but these rates are also low in the El Dorado Hills area. The region faces around 1,300 instances of property crime per 100,000 residents. The national average sits at around 2,110 instances of property crime, and the California average at around 2,331 cases of property crime. Again, in this regard, El Dorado Hills is considerably safer than other popular retirement areas.
- The overall crime rates in El Dorado Hills are 38% below the national average.
- El Dorado Hills has a lower crime rate than around half of other United States cities.
- Yearly, the crime rate of El Dorado Hills drops by an average of 2%. The crime rate is only improving.
Additionally, in the El Dorado Hills region, you will be able to feel safe both on and off the roads. Traffic related fatalities occur far less frequently in the El Dorado County region, compared to both the national and California averages. In 2018, El Dorado Hills saw just two traffic fatalities per 100,000 residents, while the state of California averaged around ten fatalities for every 100,000 people. That same year, the national average came in at around 16.07 road fatalities for a comparable number of people.
Overall, if you are looking to retire somewhere that can truly be considered an all-around safe location, El Dorado Hills, CA is a suburb option.
4. Don’t Forget About Cost of Living
Even in retirement, financial responsibility is important. On average, a pre-retiree can anticipate spending between 55% and 80% of their current income during retirement. For this reason, it is especially important that retirees select a location that suits their budget. With an affordable cost of living, you will be able to live comfortably on your retirement income. The median home value in El Dorado Hills is approximately $630,000, according to recent statistics. This is considerably above the national average of just $217,500. While El Dorado Hills provides retirees with wonderful living conditions and great opportunities, it does not come without a price tag. Make sure the cost of living in El Dorado Hills fits within your budget before choosing to retire in the area.
5. Consider Tax Rates
As a retiree, there are three primary areas of taxation to account for when you are deciding where to live: state income tax, retirement exclusions, and dividend income tax.
- What do the state taxes look like? Currently, just nine states lack an income tax.
- 36 states provide retirement income exclusion in some form. This includes a total of thirty states which fully exempt Social Security benefits from taxes.
- You might also consider taxes paid on dividend income. Currently, the only states that tax only dividend and interest income are New Hampshire and Tennessee.
Notably, states that are more lax on taxation are not necessarily more affordable when it comes to the overall cost of living. When it comes to the financial side of planning for retirement, it is vital that you look at the issue from all angles and determine what is affordable for you.
With regard to taxation, California has both benefits and drawbacks. One of the most significant benefits is the fact that the Golden State exempts Social Security benefits from taxation. For retirees, this exemption is a definite positive. If you make the decision to retire to El Dorado Hills, your future Social Security benefits will remain 100% in your pocket.
Your El Dorado Hills Attorneys
If you choose to retire in the Sacramento or Folsom areas, including El Dorado Hills, it is important to know where to turn if you are ever involved in an accident leading to personal injury. At The Law Office of Black & DePaoli, PC, we care for our community and the surrounding areas. Our Sacramento personal injury attorneys are here to welcome you to El Dorado Hills and fulfill all your legal needs. If you are ever in need of a personal injury attorney, contact us online to arrange a consultation.