Retirement by Location

[TommyIV]

Quick everyone to Mississippi!

[FONT=Verdana,Arial,Tahoma,Calibri,Geneva,sans-serif]Are you on track? This is how much it costs to retire comfortably in each state [/FONT]

 

[dave123]

Not to be a jerk, but I think it depends almost as much where in the state you retire. I'm leaving Miami area and going to a small town in central Florida. My cost of living will be drastically lower.

Coupled with no income tax and friendly inheritance laws, I think Florida is better than it appears.

 

[Valkyrie]

https://www.kiplinger.com/tool/reti...by-state-guide-to-taxes-on-retirees/index.php

They update it every november. states change, for i.e., Pa was tax friendly last yr, this yr is it not.

 

[evilanne]

I like the Kiplinger page because you need to look at the taxes. In Mississippi, although retirement income is not taxed, other income would still be subject to State Income Tax. Tax breaks on property taxes typically don't start until you turn 65 or are totally disabled. Texas is not friendly based on Property taxes.

The comparison tool is pretty nice https://www.kiplinger.com/tool/reti...es-on-retirees/compare.php?ids=51-25-44-43-10

I took Tennessee & Mississippi based on TommyIV's post. I added Florida,Texas & Wyoming with No Income Tax for comparison.

 

[evilanne]

https://scorecard.commonwealthfund....sjCTYdQGcZjgMN2xClcfE2QvXwOGQEmkaAgrXEALw_wcB Move to Hawaii is you are looking for best State Health Care system

Another on Taxes https://smartasset.com/retirement/retirement-taxes

 

[alevin]

I love the SmartAsset site. been studying it for awhile. btw, I'm back! been way tooo long. feels great.

 

[evilanne]

:flowers1: Welcome Back alevin!!!!!!


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