3. Arizona
Arizona, a southwestern U.S. state with a population of roughly 7.279 million, offers so much more than that striking pit in the ground; it is also one of the tax-friendly states where you would love to move.
If you want to spend your golden years away from the cold weather forever, then Arizona is your state. You can enjoy a warm climate year-round, but you can still find areas that get their fair share of snowfall.
Retirees thinking of moving to Arizona should be aware of the fact that the state normally has average to low tax rates compared to the rest of the country. Arizona is generally one of the most tax-friendly states.
Living in Arizona as a retiree allows you to save on your Social Security benefits, inheritance, and estate taxes, allowing you to pocket more money and, hence, leave more for the next generation.
8 Responses
I am astounded you have left out NH. Taxes were a primary consideration after I retired from the Army in 1992. We have have NO income tax or state sales tax in our state. Need I say more? In addition we have the lowest state tax on gasoline in New England. The argument that our high property taxes wipe out the other tax advantages does not fly!
Utah would be a much better place to live than Nevada with its dependence upon gambling taxes.
very informative wish that I had known before retiring,
we live in Arkansas and we are at full retirement age. if we still work do we need to have taxes held out of our social security checks
Does anyone have personal experience with retirement in South Carolina? Is it as tax-friendly as it sounds?
Does anyone know if Arizona has an income tax for seniors? I’ve been thinking of moving there to be closer to family, but I would like a first-hand account from someone who retired there!
I’m considering relocating to Colorado. What are the long-term financial implications for retirees?
I’m moving from Florida to North Carolina any suggestions