Retirees in These 12 States Risk Losing Some of Their Social Security Checks
Social Security could end up being a critical income source for you in retirement. This holds true even if you start off your senior years with a healthy nest egg.
Seniors are often surprised to see that a $300,000 or $400,000 nest egg starts to get depleted rather quickly once retirement kicks into gear. The upside of Social Security is that you're guaranteed your monthly benefits for life, whereas there's always the possibility of running out of savings if you're too aggressive with withdrawals or market conditions don't work out in your favor.
But many Social Security recipients are shocked to learn that benefits can be taxable -- and not just at the federal level. There are a number of states that impose their own taxes on Social Security income, and if you're thinking of settling down in one of the states on this list, you'll need to take that into account.
Source Fool.com
