Tax Friendly Living In Retirement

Tax Friendly in RetirementWhich states are the most tax friendly for seniors?  This might include Social Security benefits, pensions, withdrawals from IRAs and 401K plans.

Kiplinger Magazine publishes a chart of the most tax friendly states.

Click here for State by State Guide for Retirees.

For example, Florida is consistently one of the top states with no state income tax; however, they do impose a sales tax.  Florida is also appealing with its warm temperatures.  New Hampshire is always on the list.  Like Florida, it has no state income; but it also boasts no sales tax.  Some of these benefits are offset with some of the highest property taxes in the country. You should not base your residence solely on tax considerations. Your quality of life should take first priority. Access to family and friends, weather, cultural, and recreation activities are but a few of the other considerations.