Planning on Moving During Retirement? It Could Affect Your Social Security Benefits
Although many older adults choose to stay put during retirement, nearly 40% of Americans age 55 and older say they'd like to move at least once more, according to a survey from Freddie Mac.
Moving during retirement is a lot of work, but it could also be one of the best decisions you ever make. Particularly if your savings are sparse, moving to a city with a lower cost of living can help you stretch every dollar -- and live your senior years much more comfortably.
However, it's important to consider all aspects of your financial life before you start packing your bags. If you choose to move to a new state when you retire, it could affect how much you get to keep after taxes on Social Security benefits.
Source Fool.com
