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What Are The Most Tax-Friendly States for Retirees

Retirement EducationWhen contemplating a move prior to retirement, factors such as the location of friends/family, local weather, and recreational activities seem to come to mind first. However, one must not exclude tax law when weighing pros vs. cons because they are one of the largest expenses people face in retirement. Fortunately for us all, a lot of the number crunching has already been performed and the results are highlighted in a recent article posted by Robert Powell. In it, he describes the various factors that were analyzed and gives insight into how the top states scored so well.

Their list of the top 7 states are of course notional, so you will need to account for your personal spending habits, sources of income, and standard of living before coming to any conclusions on which state is best for you. Here is the list in their ranked order from 1st to 7th place:

1. Alaska

2. Nevada

3. South Dakota

4. Wyoming

5. Texas

6. Florida

7. Washington

If you are interested in seeing the specifics about each of the listed states, please see the full article linked here.

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