As a State of Alaska employee, you have access to excellent retirement benefits. However, you may worry that your state retirement still doesn’t fully meet the financial needs of the life you envision after working. Thankfully, you can take advantage of several options to bolster your retirement income and ensure your golden years are secured […]
What States Don’t Tax Retirement Income?
You’ve worked hard your entire career to earn a living and save for retirement. Now, you want to make sure your retirement is protected and lasts as long as possible. You don’t want to hand over a portion of your retirement income to the IRS if you don’t have to.
Unfortunately, many states tax retirement income. Depending on where you live, the money you worked so hard to build up for the future could be subject to taxes down the road. States like Arizona and New Mexico are popular for snowbirding Alaskans; however, it’s important to be aware that they do tax your retirement income.
The good news is that not all states operate this way. Alaska, for instance, does not tax your retirement income at all. However, many Alaskans plan to move out of state for retirement for lower cost of living, easier climates, closeness to family, and access to healthcare.
Continue readingHow to Maintain Good Spending Habits During a Pandemic
The pandemic has moved many people into uncharted territory, from experiencing social isolation to figuring out how to work and teach our children at home. Some people are transitioning back to work and some kids are going back to school, but routines are hardly back to normal. These abrupt shifts in living situations are often […]
Keeping perspective on what you can financially control
I understand that it can be confusing to know what financial decisions are most important to pay attention to and which ones should be left alone or passed off to others. I may encourage you to pay attention to your budget so that you are set enough aside for financial independence. And yet, at other […]