Retiring in Louisiana: what you need to know

Is Louisiana a good place to retire?

Louisiana, situated on the Gulf Coast and bordering Texas and Mississippi, is a popular retirement destination for many Americans seeking a relaxed and vibrant environment with access to outdoor activities, a rich history, and delicious cuisine. 

Louisiana is a unique state, with a culture and history unlike most of the United States. 

As such, Louisiana offers a unique retirement experience that attracts many retirees every year. 

According to 2024 data from the U.S. Census Bureau, Louisiana is home to roughly 4.4 million people, and 810,000 of them over the age of 65.

At what age can you retire in Louisiana?

There’s no set retirement age in Louisiana, or any US state. So, individuals are free to retire whenever they choose, as long as they are able to financially support themselves. 

However, there are some age-related benefits and considerations for retirees in Louisiana: 

• Social Security benefits: The earliest age at which you can begin receiving Social Security benefits is 62, but if you delay taking benefits, your monthly payments will increase. Full retirement age (FRA) is between 66 and 67, depending on your birth year. Delaying benefits until after FRA can result in even higher monthly payments. 

• Medicare eligibility: Medicare eligibility begins at age 65, regardless of retirement status. However, if you choose to retire before age 65, you will need to find alternative healthcare coverage until you become eligible for Medicare. 

• Age discrimination: It is illegal for employers to discriminate against employees or job applicants based on age. 

• Retirement savings: Regardless of retirement age, it is important for individuals to start saving for retirement as early as possible. Many financial experts recommend saving at least 15% of your income for retirement. 

It’s important, of course, to consider the pros and cons of retiring in Louisiana before making the jump.

Why do people retire to Louisiana?

There are some compelling reasons to consider retirement in Louisiana: 

• Relaxed environment: Louisiana is known for its laid-back and friendly atmosphere, providing retirees with a relaxed and comfortable environment to enjoy their golden years. 

• Outdoor activities: Louisiana is home to numerous state parks, wildlife refuges, and beautiful waterways, providing plenty of opportunities for outdoor activities such as fishing, boating, hiking, and birdwatching. 

• Rich history and culture: Louisiana is steeped in history and culture, with a unique blend of French, Spanish, and African-American influences. The state boasts numerous museums, historic sites, and festivals celebrating its cultural heritage. 

• The food: Louisiana is famous for its delicious cuisine, including gumbo, jambalaya, crawfish, and po'boys. Retirees can enjoy exploring the many restaurants and markets that serve up these delectable dishes. 

If you plan on retiring to Louisiana, it's worth speaking to a qualified financial advisor to find the best city for your budget. Find out more about how to match with an advisor.

What are some drawbacks to retiring to Louisiana?

Conversely, here are some reasons that retiring in Louisiana may be a turn-off for some:

• Hurricanes: Louisiana is prone to hurricanes, which could be a concern for retirees living in certain areas. However, the state has taken steps to improve its disaster preparedness and response systems. 

• Humidity: Louisiana has a humid subtropical climate, which could be a concern for retirees who prefer a drier climate. Summers can be hot and humid, but many retirees find the mild winters to be a welcome trade-off. 

• Healthcare access: Some areas of Louisiana have limited healthcare access, which could be a concern for retirees with certain medical conditions. However, the state has made efforts to improve healthcare access in rural areas. 

Best places to retire in Louisiana

If you’ve zeroed in on Louisiana, here are some of the top cities that retirees may want to consider:

• Baton Rouge: The capital city of Louisiana, Baton Rouge, is a great place to retire. It has a low cost of living, mild climate, and a rich history and culture. The city has a number of retirement communities, senior centers, and healthcare facilities. 

• Lafayette: Lafayette is located in the heart of Cajun country and is known for its rich culture, great food, and lively music scene. 

• Lake Charles: Lake Charles is located in Southwest Louisiana. It has a low cost of living, making it an affordable and comfortable place to retire. The city has a number of retirement communities and healthcare facilities. 

• Alexandria: Alexandria is a small city located in central Louisiana, known for its beautiful scenery and outdoor recreational opportunities. It has a low cost of living, with affordable housing options and a variety of healthcare providers. 

• Shreveport: Shreveport is a mid-sized city located in northwestern Louisiana, near the Texas border. It has a rich cultural heritage, with a variety of museums, galleries, and music venues to explore. Shreveport also has a low cost of living, with affordable housing and healthcare options. 

Retire on the Gulf Coast?

Retiring in Louisiana offers a unique and relaxed environment with access to outdoor activities, rich culture, and delicious cuisine. However, retirees should be aware of the potential for hurricanes, humidity, and limited healthcare access in some areas. 

It's important to seek expert financial advice to weigh up all of the costs associated with retiring in Louisiana, including property taxes, insurance, and living expenses, in order to make an informed decision about whether the state is the right choice for your retirement. 

Match with an expert financial advisor now.