Before ending your career and enjoying a well-deserved retirement, it is a good idea to learn about the best retirement states.
Experts claim that people focus too much on income taxes when they choose the best retirement states. Instead, they should check the property-tax situation first because with properties, things have gone from bad to worse every year.
The best retirement states are also called “no tax havens” but things may not be as bright as you expect even though taxes are low. Lots of people talk about “tax-foul” and “tax-friendly” states, but who will move just to save money?
Income taxes aren’t the only things that concern retirees.
Consider home ownership taxes and the sales taxes before deciding to move. Maybe some of the best retirement states have a friendly income tax policy, but real estate taxes might be very high.
Because a home’s location affects its local tax burden, real estate issues may impact retirement lifestyle for many retirees and their families.
The Internet provides plenty of information about specific states, and even specific neighborhoods. Many books describe America’s best retirement towns.
People can compare the cost of living, the climate, the criminal rate, the access to leisure and cultural activities in parallel with the tax condition using services available online. (Don’t forget to consider the cost of utilities.)
Few Americans willingly move far away. Retirees find it difficult to leave family and friends behind, and they don’t want all the hassles involved with moving.
Identifying the best retirement states is neither easy nor simple. Whatever we may think, it’s easier to say than do, and lots of people face high income tax rather than leave their home!
January 2nd, 2010
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