Best and worst places for retiree taxes
Where you live can make a lot of difference in how far your retirement dollars stretch, and the story goes way beyond which states have no income tax.
VIDEO ON MSN MONEY
.Well I am tired of The R and D. If The government shut down Friday the house and senate will still get paid. Bull no pay for you either. They taxes us to death. Food, fuel. electric, heating oil, insurances the list goes on and on. It is time to stop all the big CEO giving themselves a raise and those guys in Washington voting themselves a raise. We should vote there raise. They need to pay health care like we do and into SS. Also you only get SS if you played into it if they all kept there hands out of the pot we would not have ****blem. They pay to much for everything in washington down to you local government it is all paybacks. Come on people get a grip and call and complain and use your right to vote. Maybe we could live anywhere then. It is a runaway train and only we the legal citizens can stop it .Those that are on well fair that can work can clean streets parks earn that check. This is the place to come to live it up while we worked all of our lives now we have to worry about if we can afford our homes. United we stand divided we will fall. Common sense would go a long way God Bless you all and our wonderful troops that keep us safe.
gamerk, it is worse then that. This article limits the choices. For instance, I have tenants in Costa Rica. US retirees all. They left the country to get better health care, better tax treatment, and a higher standard of living. The cost of health care like banking is represented in the cost of everything. It is killing this countries competitiveness. We cannot even hold on to our elderly populations and you know what is happening with our manufacturing base.
The government for the people by the people is no longer functioning that way and multi national corporations that are running things have no country.
Try Kansas if you love taxes, every county taxes you to the point you can not afford to own a place, at least not on fixed income.
I love how we give billions to every other nation, but not one red cent to the US citizens. First tax cut medicare and Social Security. Why not cut money to illegal's, I mean, what part of illegal do they not understand?
Pennsylvania should not be on the list of best places - property taxes will destroy you. Example: A house valued at $100K will cost at least $4K - $5K per year in county and school property taxes. There are 500 school districts and they all have their own taxing authority. A 5-year effort to eliminate property taxes has fallen on deaf ears in the corrupt legislature and a flaming tax-and spend governor - Ed Rendell. PA is in a state of financial ruin and the new governor is cutting state services to the bare-bones. Don't worry about inheritance taxes - you won't have anything left to inherit.
new york is as bad or worse than california the socialist school tax here is obscene people need to stop breeding or pay for their own brats schooling
legal jockey wrote, quote: "REPUBLICANS HAVE CLOSED FACTORIES, SENT JOBS TO CHINA" End Quote
to legal jockey, it was CLINTON, right before he left his office who signed the GLOBAL ECONOMY aggreement that allos companies in the U.S. to makes their product in another country.
to blame somebody else, one need to know the truth.
We need to start producing our "made in USA" again and compete with those chinese product before they mastered what they are doing. Their chinese product broken so quick anyway I would rather to spend my money paying higher for American Product. The problem is, there is not much "made in USA" anymore out there.
I am retired and living in the South. Those top 5 states must have paid some money to get their plugs. At 72 I know I don't want to live in a remote snow covered area where I would be totally isolated in the winter or iced over - that's just plain crazy. I want a good transportation system, convient to shopping and good healthcare system - or yeah and I like the beach, too.
You have to do some real research on best states for retirement. If you are looking to minimize taxes, I suggest you check out the southern states. Mississippi, for example (I know) has a top rate of 5% on income; a 7% sales tax rate; very reasonable property tax rates, with retirees having a $75000 homestead exemption; not taxes on earnings from pensions, annuities, or IRA/401k; and no taxes on Social Security. Summers are miserable, but Fall and Spring are fantastic. Short drives to Birmingham, New Orleans, Memphis, the beach. Casinos with all the good and some of the bad. Friendly people and great medical care. State has cities designated retirement areas and plenty of golf and universities. Oxford, Starkville, are two college towns. Moved here from California with a job transfer. Hated the first year--then it kinda grew on me.
Hey, I'd like to thank the knuckleheads who respond to this article with political spewage.
Total taxes and life quality are what matter to me.
I just have to balance it all out.
Once you move away from Winter, you may never go back.
Forget Alaska......property, food, etc, is high priced......and forget Pennsylvania unless you don't have a pot to piss in......property taxes are very high (e.g., in order to subsidize people who are sending their kids to schools but own no property).
Copyright © 2014 Microsoft. All rights reserved.