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Arizona beckons to retirees for a number of reasons, ranging from its great climate to its senior-friendly population and tax-friendly financial opportunities. But how much do retirees really need ...
Arizona’s retiree-friendly tax policies, including no state taxes on Social Security benefits and relatively low property taxes, make Cottonwood an attractive option, especially considering ...
The median income for an older household in Florida is $46,182, versus $48,964 in Arizona. Retirement Savings: ... Both Arizona and Florida are among the more tax-friendly states for retirees ...
Alaska. State sales and average local tax: 1.76% State tax on Social Security: None Effective property tax: 1.04% Income tax rate (65+): 0% Alaska is the most tax-friendly state for retirees ...
25. Michigan. State sales and average local tax: 6% State tax on Social Security: None Effective property tax: 1.44% Income tax rate (65+): 4.25 Retirees can benefit from Michigan's low income tax ...
Consider moving to a tax-friendly state. Taxes are an important component of retirement planning. Some retirees end up moving to lower-tax states to maximize their income.
SEE ALSO: 50 Best Places to Retire in All 50 States Moving from a pricey part of the country to one with low housing prices could also lower your expenses and make your retirement savings last longer.
If you want to stretch your retirement savings as far as possible, don't focus solely on the cheapest places to retire. Pay attention to taxes in the places you're considering, too, because they ...
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