Should You Consider Retiring in Minnesota?

Minnesota is one of the few places in the Midwest that advocates fitness among the elders. It does not encourage the old and retired to be dependent on their families because life does not stop when one's hair turns gray. That's the beauty of receiving Minnesota long term care.

Minnesota is famous for its fishing spots, hunting destinations, hiking trails, and so many other outdoor activities. Truly perfect for those individuals who love the active lifestyle and can't stay indoors for too long.

Most retirees in Minnesota settle down in the Twin Cities of Minneapolis and St. Paul but the adventurous ones and go-getters just couldn't get enough that they've gone as far as Duluth to engage in skiing, fishing, and sailing among others.

Woodbury is another favorite destination of elderly folks in Minnesota because it is the safest place to live.

Crime rates are low and it has a small population. Everything or anything of interest is just a stone's throw away from one's retirement home, such as restaurants, coffee shops, movie theaters, golf courses, and lots of shopping centers. Mind you, not many senior folks are fans of online Amazon and they'd still rather walk to a shopping area if they want to buy something.

One disadvantage of living in Minnesota would be having yourself subjected to the state's very high sales and property taxes. You'll need a well established nest egg to be able to survive the cost of living here.

While working on your nest egg, why not consider a plan for your long term care (LTC), as well? After all, no one stays young and strong forever no matter how physically active he is.

How to Plan Your Minnesota Long Term Care

If you're a resident of Minnesota, you can start checking the cost of care in your area of residence because the rates vary.

Even if Genworth Financial says that the state's annual median rate for a home health aide is $58,916 it can be higher or lower in certain areas.

For instance, in the Minneapolis area Minnesotans getting assistance from a home health aide pay out $$61,776 every year on average. Meanwhile, those living in Duluth have an annual spending of $50,336 for custodial care.

Rates of LTC facilities also vary from city to city. According to Genworth Financial's 2011 Cost of Care Survey, the median annual rate of a private nursing home room in Minnesota is $ 76,796, but in Duluth families with loved ones in this type of facility are spending as much as $82,026 every year. Minneapolis nursing homes are more expensive as they are offered at $87,418.

Should you need LTC someday, don't forget that you remain responsible for your living expenses. Imagine how you can pay for all these considering the state's high sales tax. Spare yourself from these financial problems by starting a good LTC plan today.

Perhaps it's worth taking a look at a long term care insurance (LTCI) policy. Before you say that it's too expensive, get in touch with a licensed LTCI agent and you will realize that the price of your Minnesota long term care coverage is actually negotiable.

Source: http://business.ezinemark.com/should-you-consider-retiring-in-minnesota-7d33c80fb46c.html

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