That’s Why You Shouldn’t Move After You Retire

You might pay less in taxes

Perhaps you are sick of the rainy skies of Seattle or the cold prairie winds of South Dakota and long for the sunny coastlines of Hawaii or California. If that’s your dream, by all means, make it a reality.

Just remember that the price for following your bliss can be steep. In Washington and South Dakota, you pay no state tax. In Hawaii, individual income tax rates soar as high as 11 percent, according to the Tax Foundation. California’s top rate is worse — 13.3 percent. The lesson: Know the tax and other financial implications before you make any move. It might pay off to stay firmly rooted at home.



Mind & Soul




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