Is It Worth Moving to a State with No Income Tax in Retirement?
Description
Many retirees make the decision to move in retirement but should no income tax be the main reason for relocation? While it might save you money in taxes, the move might not benefit you as much as you think. In this episode of the Money Wisdom Podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® talk taxes in Massachusetts and Connecticut and the considerations that go into moving to another state in retirement.
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Here’s what we discuss in this episode:
0:00 – Intro
0:52 – Reasons people move
2:47 – Ask yourself these things
3:59 – Taxes in Massachusetts
7:20 – Millionaires tax
9:51 – What to think about
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