Retire in Maine: 8 Great Reasons to Consider It | OceanView (2024)

If you are at the point in your life where you’re ready to retire and enjoy your golden years to the fullest, Maine could very well be the place for you! Boasting a combination of breathtaking natural scenery, unique local art and culture, award-winning food, and endless opportunities to learn and explore, there is something for everyone in the Pine Tree State. Keep reading for 8 reasons you should retire in Maine!

1. Reasonable Cost of Living

Maine has the lowest cost of living in New England, with Portland being ranked as one of the most affordable cities in the nation for an active retirement lifestyle. While the cost of living in New England is generally higher compared with more southern states, you can enjoy lower costs of groceries, amenities, and healthcare with the same wonderful seasons, nature and coastline that New England states offer.

2. Abundant Outdoor Recreation

Regardless where you choose to live in Maine, you’re never more than an hour from some of the best hiking, skiing, biking, boating and fishing in the region! Maine is home to:

  • 7.5 million acres of forest
  • 3,600 miles of coastline
  • 97 mountains
  • 3,400 lakes

It’s more than likely you will have a beautiful nature trail, lake or even ocean within a few miles of your home, so you can enjoy the best Maine has to offer anytime you’d like!

3. Safe Cities and Towns

If you find yourself wondering, “Is Maine a good state to retire in?” this should be a major factor on your list of pros! Due to its extremely low crime rates, Maine has been ranked as the #1 safest state in the country for over a decade by the Institute for Economics and Peace (IEP). Consider that one less thing to worry about, so you can enjoy a stress-free retirement!

4. Unique Local Culture

Maine boasts a culture unlike anywhere in New England, with incredible food, world-renowned art, endless outdoor activities and much more.

The Portland Museum of Art has thousands of pieces ranging from local artists to Picasso, Homer and Matisse; you can also find world-class collections at other museums across the state, including Bowdoin College Museum of Art, Colby College Museum of Art and Farnsworth Art Museum.

Looking to pick up a new class or refresh your skills? The University of Southern Maine’s Osher Lifelong Learning Institute (OLLI) offers local programs that encourage seniors to continue their education. Whatever your interests may be, there are endless local cultural experiences to enjoy in Maine – truly something for everyone!

5. Award-Winning Cuisine

The dining scene in Maine has caused quite a stir in recent years, garnering attention from major food and travel writers. If you consider yourself a foodie, you’re in luck! There are award-winning restaurants not only in Portland, but up and down the coast of Southern Maine, waiting to be experienced.

6. Fun for Family & Friends

When we say there is something for everyone in Maine, we don’t just mean for active seniors enjoying their retirement! Maine draws an astonishing amount of visitors each year, and for good reason – with its pristine beaches, outdoor opportunities, amusem*nt parks and more, it’s a destination for all ages. Your family and friends will be begging to come and visit!

7. Accessible Healthcare

Maine’s strong network of healthcare providers and accessible insurance continue to rank it as one of the healthiest states in the country. Several of our hospitals are considered some of the top-performing in the country – this includes Portland’s Maine Medical Center, but also more rural hospitals such as Rumford Hospital, Mount Desert Island Hospital Organization, and Inland Hospital in Waterville. Consider retiring in Maine to be an investment in your lifelong health!

8. Easy to “Go Green”

With sustainable living at front of mind (and more important than ever), Maine is the perfect place for those who are trying to live a “greener” lifestyle with its abundant natural resources. At OceanView, we prioritize green living in our retirement community – since 2009, we’ve eliminated more than 1.4 million pounds of carbon pollution by harnessing abundant solar energy!

Retire in Maine with OceanView at Falmouth

OceanView at Falmouth is an active retirement community located just minutes north of Portland in scenic Falmouth, Maine, overlooking Casco Bay and the Presumpscot River Estuary. For more than 30 years, OceanView has combined active and carefree living with environmental sustainability and nature to provide you with retirement for the 21st century!

OceanView offers a wide variety of cottages and apartments that are as unique as each resident. Leave any worries about home ownership and maintenance in the past – our 100% refundable entrance fee arrangement and 24/7 maintenance services are designed to give you the most stress-free, enjoyable retirement experience possible!

When you retire in Maine, you truly get to experience your active retirement “The Way Life Should Be.” To learn more about our community at OceanView, please contact us today!

Retire in Maine: 8 Great Reasons to Consider It | OceanView (2024)

FAQs

Retire in Maine: 8 Great Reasons to Consider It | OceanView? ›

Tax benefits: Maine offers a property tax relief program for eligible residents aged 62 or older. Additionally, the state exempts Social Security benefits and up to $10,000 of pension income from state income taxes.

What are the benefits of retiring in Maine? ›

Tax benefits: Maine offers a property tax relief program for eligible residents aged 62 or older. Additionally, the state exempts Social Security benefits and up to $10,000 of pension income from state income taxes.

Where is the best place to retire in Maine? ›

Waterville is one of the best places to retire in Maine for retirees, given its low cost of living, access to greenery, and peaceful environment. A college town, Waterville is home to two universities - Colby College and Thomas College - earning it the title of 'The University City of Maine'.

Is Maine a good place to retire for taxes? ›

While Maine does not tax Social Security income, other forms of retirement income are taxed at rates as high as 7.15%. It also has above average property taxes, as well as an estate tax. To find a financial advisor who serves your area, try our free online matching tool. Maine is not tax-friendly toward retirees.

How does Maine rank for retirement? ›

29 among the 50 U.S. states, according to a new report by personal finance website WalletHub. Despite a high quality of life and decent health care compared to other parts of the country, Maine remains one of the priciest places to retire, according to a new barometer by personal finance website WalletHub.

How does Maine State retirement affect Social Security? ›

Under the WEP, your Social Security benefit is figured using a modified formula. As a result, you receive a lower Social Security benefit than if you were not entitled to a MainePERS benefit. This provision reduces, but does not totally eliminate, your Social Security benefit.

How long do you have to be vested in Maine State retirement? ›

A: Being vested means you have met the requirements to receive a monthly benefit at normal retirement age under your plan. In order to be vested, members in service on or after October 1, 1999, must have five years of creditable service.

How much money do you need to live comfortably in Maine? ›

The average cost of living in Maine

As well as being a popular tourism destination, Maine is home to around 1.4 million people. According to Bureau of Economic Analysis data for 2021, the average annual cost of living in Maine is $50,559.

What is the cheapest part of Maine to live in? ›

The Most Affordable Cities in Maine
  • Sanford.
  • Waterville.
  • Lewiston.
  • Augusta.
  • Bangor.
  • Auburn.
  • Westbrook.
  • Biddeford.
May 6, 2024

Does Maine tax Social Security? ›

Maine Tax on Retirement Benefits: Maine does not tax Social Security or Railroad Retirement benefits. Military benefits are also tax-exempt. Retirees who receive MainePERS benefits may qualify for a pension exclusion of up to $30,000. The exclusion increases to $35,000 in 2024.

What is the tax cut for retirees in Maine? ›

For tax year 2023, Maine allows for a deduction for pension income of up to $30,000 that is included in your federal adjusted gross income. The $30,000 must be reduced by all taxable and nontaxable social security and railroad benefits.

Does Maine reduce property taxes for seniors? ›

In 2022, the Maine Legislature adopted the Property Tax Stabilization Program for Seniors. Approximately 360 seniors in Orono signed up for this program for the FY24 tax year. This program was then repealed by the Maine Legislature on July 6th, 2023 with an effective date of October 11th, 2023.

Is it better to retire in Maine or Vermont? ›

Maine received a score of 47.50 making it the 29th worse state to retire. Maine received a 43 for affordability, a 6 for quality of life, and a 23 for healthcare. Vermont got a 47.12 making it the 34th worse state to retire and right behind them is Connecticut with a 47.11.

What is the #1 retirement state? ›

Best & Worst States to Retire
Overall RankStateQuality of Life Rank
1Florida1
2Colorado27
3Virginia13
4Delaware34
46 more rows
Jan 22, 2024

Where can I retire on $2000 a month in the United States? ›

5 US Cities Where You Can Retire on $2,000 a Month
  • Chiang Mai, Thailand. Advantages: Very inexpensive. ...
  • San Juan, Puerto Rico. Advantage: In the United States. ...
  • Claremont, New Hampshire. A couple who found a place to retire on $2,000 per month. ...
  • Decatur, Indiana. Advantages: Potentially low rent. ...
  • El Paso, Texas.
Mar 19, 2024

Where are most retired people moving to? ›

Top 10 states that gained the most retirees
  • Florida. Retirees moved in: 171,343. ...
  • Arizona. Retirees moved in: 61,688. ...
  • South Carolina. Retirees moved in: 40,663. ...
  • Texas. Retirees moved in: 68,754. ...
  • North Carolina. Retirees moved in: 43,619. ...
  • Georgia. Retirees moved in: 38,583. ...
  • Alabama. Retirees moved in: 18,719. ...
  • Tennessee.
1 day ago

What are the benefits of senior citizens in Maine? ›

Maine offers several programs that help seniors cover health insurance and prescription costs. MaineCare pays for medically necessary services based on your age and medical needs. Covered services may include doctor and hospital visits, X-rays, labs and prescriptions.

What state has the most benefits for retirees? ›

1. Iowa. Iowa ranks as the number one state to retire to. It offers an affordable cost of living and home prices and a strong economy, making it an attractive place to make retirement savings last longer.

What state has the best tax breaks for retirees? ›

1. Wyoming. Wyoming is considered to be very tax-friendly towards retirees. There is no state income tax in Wyoming, which means that residents do not pay state taxes on distributions from retirement plan accounts, public or private pension payments or Social Security benefits.

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