How to Reduce Your Taxes in Retirement

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5. Find the best place to relocate

Another way to minimize your taxes in retirement is relocating. We know, we know, it’s no easy task, but, if you weigh the pros and cons of it, you’ll be shocked to learn how much you can save.

Since some U.S. states have virtually no income taxes, you might want to move there in your golden years. So, depending on the state you choose to live in, you’ll enjoy reasonable rates for most types of taxes, such as property and sales taxes.

However, you should make a decision only based on taxes in retirement. Opt for a place that suits you entirely.

Wondering which states are good for you? Here are the best of the best!

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