10 States for Retirees 2011 - The Good and the Bad - Fiberglass RV


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Old 06-26-2011, 10:51 AM   #1
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10 States for Retirees 2011 - The Good and the Bad

When retired, the idea is to keep as much of your retirement funds as possible...

A Kiplinger report here for tax-unfriendly states: tax-unfriendly-states-retirees: Personal Finance News from Yahoo! Finance

and the tax-friendly states here: 10 Tax-Friendly States For Retirees 2011 - Kiplinger
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Old 06-26-2011, 11:22 AM   #2
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Very interesting!
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Old 07-04-2011, 11:29 AM   #3
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While it is good to consider taxes when deciding on a move, I would tend to put that aspect on a lower level than other reasons, such as weather, distance to kids, health care access, crime rate, etc. However one should not ignore it.

Another thing is the charts don't always tell the whole picture. Recently we considered moving further south to Oregon. If we were to do so, our retirement income would be subject to state income tax, where it is not in Washington. Further investigating this I found that the date of one's retirement affects the percentage. In my case, it makes retiring in Oregon very attractive, tax-wise. YMMV.

Are we ready to move? Ummmm. Nah! At least, not yet!
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Old 07-04-2011, 02:28 PM   #4
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Tax avoidance is legal, tax evasion is not. There is nothing improper making decisions that will have an impact on your taxes, you need to become knowledgeable in state and local taxes. Although Pennsylvania state is a friendly retiree state, it's archaic school and property taxes are very high. My local taxes are double what it would be elsewhere. In the end, we all have to pay taxes or fees or high trash/water/sewerage just to own a home that is declining in value! That is another reason people are full timing and giving up home ownership.
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Old 07-30-2011, 06:04 PM   #5
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Washington is such a retiree-friendly State that a few years ago it got involved in a tussle with the State of California over its (Cal.'s) taxation of moneys earned in that State by retirees "living" in Washington State. Outcome of the battle unknown.
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Old 07-30-2011, 06:22 PM   #6
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Quote:
Originally Posted by Donna D. View Post
When retired, the idea is to keep as much of your retirement funds as possible...

A Kiplinger report here for tax-unfriendly states: tax-unfriendly-states-retirees: Personal Finance News from Yahoo! Finance

and the tax-friendly states here: 10 Tax-Friendly States For Retirees 2011 - Kiplinger

Hmmm, Wonder why Oregon is No. 4 on the tax unfriendly states. I know the chart and data are aimed at people making more than $250,000 per year in retirement income. A small percentage of retirees I would imagine.

Since I don't make any where near that, this Oregonian is in a pretty good place.
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Old 07-31-2011, 12:15 AM   #7
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Oregon doesn't have a sales tax, just an income tax. Triple-check to see if your retirement "income" would be taxed in Oregon before you move here! Remember in retirement, its not about what you earn (including taxes) but what you SPEND.
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Old 08-02-2011, 08:28 AM   #8
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Several years ago when I looked into possibly moving to Oregon because my kids lived there at the time, your date of retirement was a used in your income tax calculations. I just happened to have an official retirement date that made residing in Oregon very attractive, tax wise.

The kids weren't settled yet and moved on. There's also the possibility that Oregon has, or will, make tax law changes that would remove the advantage. Then there's also a possibility that if they do, they will 'grandfather' in the rates for those already enjoying the benefits. Who knows?

The reason I mention this is because most times those retirement charts are based on some assumptions that don't apply to one's individual case, as others have mentioned above. I don't know of any one place where all the info is located, but usually each state has a web site that deals with taxes. What I did was to download the forms and stick my personal data in, as if I were actually living in Oregon and paying the taxes. Tedious, but probably the only way to really know.
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Old 03-31-2013, 08:12 AM   #9
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Why not Florida a good choice?

Weather is great most of the year. We have NO state income tax. Sales tax where I live is just 6% on what I buy, which isn't that much anymore. No sales tax on food. My property taxes have been increasing, though.
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Old 03-31-2013, 08:17 AM   #10
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As the federal government shrinks, the states and local governments will have to find other sources of revenue!!
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Old 03-31-2013, 08:34 AM   #11
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Michigan started taxing pensions and also reduced a rebate for low incomes on real estate taxes.

I have my eye on Vancouver, WA.
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Old 03-31-2013, 08:46 AM   #12
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WA has a high sales tax and regulations on everything. It takes an act of the state to cut down a tree on your own property.

I do admit WA is a visually attractive state. I guess I'm use to no sales tax.
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Old 03-31-2013, 08:51 AM   #13
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Another benefit of NH is the lowest crime rate in the USA, not to mention low unemployment, high SAT scores, no sales tax and no income tax.
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Old 03-31-2013, 09:02 AM   #14
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WA has a high sales tax and regulations on everything. It takes an act of the state to cut down a tree on your own property.

I do admit WA is a visually attractive state. I guess I'm use to no sales tax.
I was planning to shop in Oregon with no sales tax, just across the border.
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