Retirement: Getting the Most Bang for Your Buck

retirement savingsThere are many things to consider when choosing where to retire: being near family and friends; having access to the medical care you need; choosing a climate that makes life easy and enjoyable. But another huge consideration for people is where they can make the most of their retirement savings.

Kiplinger recently conducted a study on state taxes and found the 15 states with the lowest taxes on retirees. Most of the states exempt a portion of other retirement income, such as pensions or withdrawals from a tax-deferred retirement plans. And all but one of the states exempt Social Security benefits entirely from state taxes.

Which state came in #1? Beautiful Alaska. Alaskans pay no state income tax and no state sales tax! Below is the top 10. Not surprisingly, my state is not on the list!

1. Alaska
2. Wyoming
3. Nevada
4. Georgia
5. Arizona
6. Mississippi
7. Delaware
8. Louisiana
9. South Dakota
10. Florida

To see the rest of the list, visit: Top 15 Friendly States for Retirees

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Author: Heather Zachariah

Former Art Director for Home Magazine, Heather Leahy Zachariah, left her career in publishing after baby number number one. She now works from home as a freelance graphic designer and a chauffeur to her 3 busy kids. "Working on TipsFromTown has been a wonderful outlet for me. It renewed my love of publishing where I can design colorful, enticing pages online and allows me to share the things I love about being a mom." Heather grew up in Shaker Heights, Ohio, a place that still is near and dear to her. " After living in Brooklyn for 18 years and studying Graphic Design at Pratt Institute, she now lives in the Jersey burbs. "I love living so close to NYC, but in my heart, I'm an Ohio girl."


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