Charleston is 7th-best city for retirees, Fidelity.com says | News

CHARLESTON (WCSC) - As we wait for the New Year and prepare to say goodbye to 2011, Charleston is again receiving plaudits as a top 10 U.S. city.

Fidelity.com, the website of the well-known financial services company, says Charleston is the 7th-best place to retire in the country.

Fidelity.com had this to say about the Holy City’s prospects for retirees:

South Carolina’s state taxes are the lowest in the country -- one of the many budget-friendly factors that make Charleston a good home for retirees. There are no taxes on Social Security benefits in the Palmetto State, which also provides a $15,000 retirement-income deduction for people over 65. Retirees can spend their savings in one of historic Charleston’s many theaters or soul-food restaurants. The city is known for its mild climate, and tourist draws such as Savannah, Hilton Head and Myrtle Beach are just two hours away by car.

Click here to check out the other top 10 U.S. cities for retirement.