Retiring in Happy Valley

January 13th, 2014 By: Sarah Boha

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Retiring?  Who wouldn’t want to enjoy their golden years in a town lovingly known as “Happy Valley”?  More retirees are moving to college towns like State College, Pennsylvania.  With a youthful spirit during football weekends, cultural events year round and the latest advances in medicine happening at the top research university next door; living in vicinity to the Penn State University campus in State College has its perks for the 55+ population.   January 13th, 2014 By: Sarah Boha

State College offers several low maintenance condo communities, some of which are specifically tailored to tenants 55 and up.  These condos offer many opportunities for retirees to live a settled down, yet active, social and stimulating lifestyle.  One condo community in the area has a program for their 55+ tenants to attend classes at Penn State.  Another condo boasts resort style amenities, aerobics classes and a movie theatre.  A retiree may also opt to downsize to a smaller single family home in the area and employ one of many local lawn care and yard maintenance companies to maintain the lawn and snow removal in the winter.  

Whether a retired resident chooses an active adult condo community or a single family property, they will be within walking distance or a short drive to a variety of shopping and restaurants.  North Atherton Street, one of the main streets through State College, is seeing a business boom.  In the last year, stores like Trader Joe’s, Ulta and Pier 1 are just the beginning with more stores such as the Gap, Old Navy and more to come to the area.   

Once settled into their perfect home and enjoying what the vibrant college town has to offer, retired Pennsylvania residents will enjoy tax benefits unique to the state.  Social security benefits are not taxed in PA and income earned during retirement will not be taxed after the age of 59 ½, if the person has reached retirement by age and years of service.  For more information on the tax benefits older Pennsylvanians are entitled to, visit http://www.kiplinger.com/tool/retirement/T055-S001-state-by-state-guide-to-taxes-on-retirees/index.php?map=&state_id=39&state=Pennsylvania#jo4FsWdWb3fiqGCb.03.

Among the chants at Beaver Stadium during a Penn State vs. Ohio State game in the cool of autumn, the unique artwork from around the world featured at Arts Fest in the summer and the cultural events held all year by the university, there is no lack of amenities, recreation and fun for a retiree in State College.  If you’re ready to retire, I invite you to put on your Penn State sweatshirt and get ready to feel forever young in the town known as “Happy Valley”.   

If you would like to know more about the condo communities for the 55+ in State College or have any questions about the area, call our team of specialists to learn more.