Moving to a ‘tax friendly’ state? Do your homework first
Almost 400,000 Americans relocated for retirement in 2020, according to HireAHelper, which conducted a data study using the latest Census Bureau survey to determine how retirees moved during this first year of the pandemic.
“It is my strong sense that these cross-state moves in retirement are strongly motivated for financial reasons,” said Jaclyn Lambert, a spokesperson for HireAHelper.
So, what might you consider if you plan to follow in the footsteps of those Americans who last year moved to a tax-friendly state?