If you have a few minutes I believe your time will be well spent reviewing this piece I posted back on February 16, 2018.
During your working career you can make adjustments on the fly. Paychecks are still coming in, and you can cut some spending to shore up holes in your savings plan.
But once you retire, there’s no more income to offset any unexpected spending you may have done. That’s why you must be acutely aware of how you position yourself and your money in retirement.
After you have invested your money to best avoid risk, the biggest threat to your income is taxation. Retirees must do everything possible to avoid the painful bite of income taxes. To help them, GoBankingRates.com has developed a list of the best and worst states for retiree taxation.
The winners are:
1. Alaska
2. Wyoming
3. Delaware
4. New Hampshire
5. Washington
6. Nevada
7. Florida
8. South Dakota
9. Tennessee
10. Hawaii
The worst states for retiree taxation are:
50. Nebraska
49. Minnesota
48. Connecticut
47. Kansas
46. Missouri
45. Vermont
44. Rhode Island
43. New Mexico
42. West Virginia
41. Utah
If you want to make the most of your retirement, you may have to consider moving to a state that treats you and your money better.
Read more here from GoBankingRates.com.
