Retiring in Missouri: a comprehensive guide

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.

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. 

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. 

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.  

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.