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Where to retire?

4 December 2009 103 views No Comment

There are many things that figure into out decision on where to retire. Family, climate and activities all weigh into the decision. With a 50% or higher retirement benefit, plus possibly 457 or deferred comp payments, it would be nice to make our dollar stretch as far as we can. There are only a few states that offer us the following benefits:

No Income Tax
No tax on our NYS Retirement
No tax on 457 or deferred comp
No tax on Social Security

These states are Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming.

So if one of these states fits into your retirement plan that’s great. If they don’t then it is worth taking a look at the possibility of making a move. In the long run its all about making your retirement stretch as far as possible, for as long as possible.

Disclaimer: This information applies to New York State Police retirements.
If you are reviewing this information to seriously contemplate a move to a particular state, you should be mindful of the fact that states often enact, amend, and repeal their tax laws; please contact their Revenue Agency yourself to verify that the information is up to date.

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