Move to a tax-friendly state
States have slightly different laws in terms of how income is taxed but there are certain states that don’t tax benefits at all. That’s where you’ll want to retire if you dream of maximizing your Social Security income. There are 37 states that do not tax Social Security income, making them the best places to retire, in terms of finances. More than that, 9 states have no income tax, which is like a godsend for retirees.
Therefore, do your homework and choose the state that suits you best, because some that don’t tax benefits might ask for a bigger chunk of your other types of retirement income. To simplify your choice, here are the Most Important Financial Benefits For Retirees Offered By Each State.
