Las Vegas is a popular destination for retirees, thanks to its warm climate, numerous golf courses, and abundant entertainment options. However, there are also some potential downsides when deciding whether to retire in Las Vegas. This blog will explore the pros and cons of retiring in Las Vegas.
Pros Of Las Vegas for Retirement
It’s Indescribably Gorgeous
The weather in Las Vegas makes it an ideal location for retirees who want to escape cold winters. But it has other benefits too, namely, its natural beauty. From its famous strip with all its bright lights and casinos to its spectacular views from the mountain tops, Las Vegas has plenty of sights to take your breath away.
Las Vegas Has A Great Economy
The economy in Las Vegas is doing very well because there are so many tourists coming into town each year to visit gambling venues like casinos and poker rooms. These tourists bring money into the city that helps keep it running smoothly and allows people who live there to make a living off of their businesses or jobs without worrying about how they will pay the bills every month.
If you’re over 55, you may be eligible to live in a 55+ community in Las Vegas. These communities offer fitness centers, pools, spas, and more. You’ll also have access to transportation services that can take you anywhere in town, so you don’t have to worry about driving yourself around anymore! These communities are great for retirees who want to live an active lifestyle without worrying about the maintenance involved with owning a home.
Las Vegas Has Low Taxes
Las Vegas has no income tax on wages or interest earnings, making it among the most tax-welcoming states for retirees. Plus, no estate taxes are levied on property left behind by a deceased person’s estate either. When it comes time for your loved one’s estate planning attorney to settle their affairs after they pass away, additional fees won’t be added to what they already paid out during their lifetime.
Cons Of Las Vegas for Retirement
Las Vegas Has High Crime Rates
While many retirees enjoy living in Las Vegas because of its low cost, there are also some downsides to consider. One is the high crime rate in Nevada, which ranks 8th in the nation for violent crimes per 100,000 people (FBI). If you’re looking for a peaceful retirement community where you can feel safe outside and inside your home, then Las Vegas may not be suitable.
Las Vegas Is Very Hot
Las Vegas is one of the hottest places in America, especially during the summer. The average temperature in July and August hovers around 100 degrees Fahrenheit (38 Celsius), with some days reaching over 110 F (43 C). The heat can be debilitating for many people, especially seniors, who are more sensitive to heat than younger people.
Las Vegas Can Be Tempting For Recovering Addicts
Las Vegas has a large population of recovering addicts who have come to Las Vegas for treatment or temporary stays. Many of these recovering addicts find themselves tempted by casinos and other activities associated with gambling and alcohol abuse. This can cause many problems for those trying to stay sober or abstain from gambling.
Las Vegas Has A High Cost of Living
Living in Las Vegas is higher than average for the United States. For instance, the median home for sale in Sun City Summerlin price is about 10 times higher than the national figure. This makes it difficult for retirees on fixed incomes to afford housing in Las Vegas without significantly taking on debt or downsizing their homes.
Overall, Las Vegas has both pros and cons as a retirement destination. On the positive side, it has a low cost of living, plenty of entertainment options, and good healthcare facilities. On the downside, it can be a crowded and noisy city with hot and dry weather and a high crime rate. However, Las Vegas can be a great place to retire for those who enjoy the vibrant atmosphere and are willing to deal with the potential drawbacks.