Retiring in Missouri: a comprehensive guide
Learn what you need to know when considering retirement in Missouri.
Summary
There are around 1.125 million people of retirement age in Missouri
Missouri offers retirees a range of options, including large cities such as Kansas City and St. Louis.
The state is physically beautiful, with lakes, forests, and rural farmland.
However, there may be a lack of public resources and harsh weather to contend with.
How many people retire in Missouri?
There are more than a million seniors in Missouri. According to data from the U.S. Census Bureau in 2024, Missouri had a population of approximately 6.25 million people, with over 18% of the population age 65 or older. That amounts to roughly 1.125 million people of retirement age.
Missouri straddles the Midwest and Southern regions of the United States, which means it has some unique cultural quirks and plenty of natural beauty, including scenic countryside and lakes. For those reasons, it may be attractive to prospective retirees.
At what age can you retire in Missouri?
There’s no mandated retirement age in Missouri, or anywhere in the US. This means that 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 Missouri:
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.
Reasons people retire in the “Show-Me State”
There are some compelling reasons to retire in Missouri:
Affordable cost of living: Missouri's cost of living is generally lower than the national average, which could be a significant draw for retirees on a fixed income. Housing and healthcare costs are lower than in many other states.
Scenic beauty: Missouri has numerous lakes, forests, and scenic countryside, providing ample opportunities for outdoor activities such as fishing, hunting, and hiking. The state also offers many charming small towns with a rich history and cultural heritage.
Cities of all shapes and sizes: Missouri has two big cities, Kansas City and St. Louis, and numerous medium and small cities. Accordingly, it’s filled with numerous museums, galleries, and performing arts venues located all over the state. Further, the state hosts several festivals and events throughout the year, including the Missouri State Fair, the Kansas City Renaissance Festival, and the Ozark Empire Fair.
Are there drawbacks to retiring in Missouri?
Nowhere is perfect, and here are some of the downsides to retiring in Missouri:
Natural disasters: Missouri is prone to natural disasters such as tornadoes, floods, and ice storms, which could be a concern for retirees living in certain areas.
Limited public transportation: Despite the big cities, Missouri is a largely rural state, with limited public transportation options. Retirees who do not drive may find it difficult to access services and activities.
Limited healthcare options: While Missouri has several large hospitals and medical centers, some areas of the state may have limited healthcare options, which could be a concern for retirees with complex medical needs.
Best places to retire in Missouri
As noted, there can be all sorts of potential cities and towns to retire in. Here are some to consider:
Branson: Known as the "Live Music Capital of the World," Branson is a popular retirement destination due to its low cost of living, scenic beauty, and abundance of entertainment options. With dozens of theaters, restaurants, and shops, Branson offers retirees plenty of activities to keep them busy.
Columbia: Home to the University of Missouri, Columbia is a lively and affordable city that offers retirees a high quality of life. With a low cost of living, excellent healthcare, and plenty of cultural events and outdoor activities, Columbia is a great choice for retirees who want to stay active and engaged.
Lake of the Ozarks: Located in central Missouri, the Lake of the Ozarks is a popular retirement destination due to its natural beauty, mild climate, and abundance of outdoor activities such as boating, fishing, and hiking. The area is also home to numerous golf courses, restaurants, and shops, making it a great place to retire for those who enjoy an active lifestyle.
St. Louis: As the largest city in Missouri, St. Louis offers retirees a vibrant and diverse urban experience. With a rich history, numerous cultural attractions, and a thriving arts scene, St. Louis is a great place to retire for those who want to be close to the action.
Springfield: Located in southwest Missouri, Springfield is a friendly and affordable city that offers retirees a high quality of life. With excellent healthcare, a low cost of living, and a variety of cultural and recreational activities, Springfield is a great choice for retirees who want to stay active and engaged.
Retirement in Missouri? Do your homework first
Missouri can be a compelling retirement option, especially if you’re looking for a good mix of rural and urban, and for a lower cost of living. Note, though, that you will be contending with the weather and a lack of public services relative to other states.
It's important to seek expert financial advice to weigh up all of the costs associated with retiring in Missouri, 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.
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Content writer
Kate has written for leading publications and blue chip companies over the last 20 years.