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Is Pennsylvania the Best State for Retirement in the US?

Pennsylvania may be one of the best states for retirement in the US in 2024, but it certainly doesn’t come out at the top. Discover our detailed rankings to uncover the Best State for Retirement in the US in 2024.

Meanwhile, here are our statistics on the Keystone State:

Insider Monkey Score: 21    

IM Healthcare Rank: 16       

Cost of Living Index: 95.6   

Tax Friendliness: Tax Friendly

So how does the state of Pennsylvania rate for retirement? Based on our Insider Monkey rankings, Pennsylvania is number six on our list of best states to retire in the US in 2024. Five more states beat this Keystone State to the top due to their combined rankings in healthcare, cost of living, and tax-friendliness.

Nevertheless, Pennsylvania is a good state to retire for seniors and our findings verify it. The cost of living in the state is 4.4% lower than the national average. As of April 2024, home prices in the state were up 7.9% year-over-year. Yet, the median sale price of a home in this state is an affordable $285,700. This is considerably lower than the national median of $426,056, as per Redfin. While the average effective property tax rate is higher than the national average of 0.99%, eligible seniors aged 65 and over can avail expanded property tax or rent rebate of up to a $1,000.

For those looking to rent, Zillow notes that median rent of a two-bedroom apartment in the state is $1,550, lower than the national median of $1,906. That’s not all, Pennsylvania has also made it to our list of states that don’t tax retirement income.  This state wont tax your Social Security income, neither will it tax the income coming from your retirement accounts such as 401(k)s and IRAs. Moreover, pension income is also exempt from taxes that comes from an eligible employer-sponsored retirement plan.

This state isn’t just best to retire tax-wise, but it’s also good for seniors in terms of health. Our rankings show that of all the states, Pennsylvania ranks at number 16 when it comes to healthcare. Some of the best hospitals in the state are Lancaster General Hospital, Temple University Hospital, and Hospital of the University of Pennsylvania. Faring well on all major grounds, it is safe to say that Pennsylvania is a retirement-friendly state.  Nevertheless, just like there are many pros of retiring to Pennsylvania, there are some cons too. The one thing that may put off retirees choosing this state as their home in their golden years is that it has a humid continental climate. Hot summers and cold winters aren’t exactly ideal for people who prefer milder year-round weather.

Nevertheless, Pennsylvania is one of the best states to retire, especially for those on a fixed-income. If you’re looking for some of the best places to retire in Pennsylvania on Social Security, your best bet are places like Harrisburg, Elizabethtown, Erie, and New Castle. Read our detailed article to see more places to retire on in this wonderful state.

Pennsylvania ranks 6th in our list of Best States to Retire in the US.

Click to see the 5 Best States to Retire in the US Better Than Pennsylvania.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

The best part? You can discover everything about this company and its groundbreaking technology right now.

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Wall Street calls this $3 stock a “Melting Ice Cube.” They said the same thing about BTI before it returned 90%.

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

My name is Inan Dogan. I’m the co-founder and Research Director of Insider Monkey. I have an important message for you today.

Since March 2017, my stock picks have returned 16.5% annually. Today, I’ve found an opportunity even bigger than my British American Tobacco call.

Two years ago, Wall Street wrote off British American Tobacco (BTI) as a “melting ice cube.” The stock had crashed 40% from its peak, and consensus said the business was dying.

We looked under the cover and realized they were wrong.

We alerted our subscribers, and BTI returned 90% in just 16 months.

Now if you had invested just $10,000 in BTI in June 2024, you’d be sitting on $19,000 in October 2025.

Today, we have identified a nearly identical pattern in a digital-first giant trading at $3.

While the market panics over a surface-level revenue decline, our PhD-led research shows management has actually surgically cut $100 million in waste to focus on high-margin growth.

This pattern is a hallmark of our 16.5% annual return track record. The current opportunity offers a 400% upside potential—dwarfing even our 90% BTI return.

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