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.
Tis the Season for Charitable Giving Charitable Giving Taxes In addition to investing intentionally by aligning your portfolios with your values, I believe in spending intentionally on things that are most meaningful. Studies have shown people have greater happiness when they spend on things they value, such as experiences. With the holiday season on its […]
Keeping Perspective on What You can Financially Control Savings Spending Investments Taxes 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 […]
Tips for Investing During a Volatile Market Investments Taxes Although economic instability is not directly connected to bear markets, a struggling economy and these unusual circumstances can cause fear that your accounts will lose money with market volatility. The first casualty of a bear market is an investor’s ability to distinguish between temporary volatility and […]