This Strategy Could Save You Money in Retirement
Comedian Rodney Dangerfield said, "When I was a kid, my parents moved a lot, but I always found them." Getting away from the kids may not be your end game in retirement, but how about slashing your living expenses? If your retirement savings balance is lower than you'd like, cutting your cost of living should be high on your priority list -- and relocating out of state may help you do it.
A 2019 report from SmartAsset confirms that tens of thousands of seniors are packing up and moving to a new state. The report does not confirm the reason for these relocations, but it's noteworthy that three of the top 10 most popular states have no state income tax. The over-60 population in Florida, for example, increased by nearly 58,000 in 12 months. The senior populations in Texas and Nevada rose by 7,417 and 6,344, respectively. Other states rounding out the top 10 list for seniors include Arizona, South Carolina, Georgia, North Carolina, Oregon, Tennessee, and Delaware.
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Source Fool.com
