Relocating when you’re a senior, depends on a lot of things. But, one of the most common ones is taxation. Retirees choose to move to a much tax-friendlier state due to their overall income, which is considerably small. Most seniors live paycheck to paycheck, and with that lemonade money, they can’t enjoy retirement life as they should and deserve.
So, no matter if you’re already retired or close to doing it, you should know the taxes in your state; maybe you’ll want to move to another one. To help you make a tough decision, we’ve highlighted taxes on Social Security and other types of retirement income, tax exemptions (if there are any), and, of course, the state’s overall income, sales, and property taxes.
Click on the “NEXT” button to see your state’s ranking!