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Financial Planning / Tax Strategies
|Subject: Re: What is the best state to retire in?||Date: 5/11/2004 9:25 AM|
|Author: pmarti||Number: 71778 of 120433|
what state does the Fool community feel is best to retire in?
A state of good health with plans for both your financial and day-to-day futures.
Taxes are taxes are taxes. States will support their activities somehow, and it's much more than a question of "do they have an income tax?" For example, NH has no income tax but an outrageous property taxes. DC has outrageous income tax, but cheap property tax. IL has cheap income tax (especially for retirees), but high property,gas and tobacco taxes. I suspect you can find some comparisons at the AARP site, but for my money the starting point of this decision has nothing to do with taxes.
Where to you want to live based on non-tax issues? Unless you're a hermit who cares nothing about the presence of family and friends, cultural activities, etc. I'd start with considerations about how you want to spend your time. If it turns out you have competing places, taxes for your particular situation could turn out to be an issue down the line.
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