Relocating in retirement can bring you closer to family, hobbies, and better weather. But it's not always kind to your wallet. To maintain your financial security after leaving the workforce, you need to understand how your move will affect your budget and your tax bill. Here are three of the most important financial factors to keep in mind if you plan to move to another state in retirement.

You'll have to save more for retirement if you plan to move to an area with a higher cost of living. Conversely, you might be able to retire on a smaller nest egg if you choose a more affordable state.

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Source Fool.com