While climate, healthcare, family location, and other factors all play a role in deciding where you want to spend your retirement years, taxes are often the overriding consideration. So consider moving to a no income tax state prior to withdrawing your retirement plan and IRA balances, so that state income taxes can be eliminated on these proceeds. But do so carefully—here’s how to protect your savings from super-aggressive state tax collectors.
Assume you have $3,000,000 in retirement plan and IRA balances. If you withdraw these in equal monthly payments over 30 years with a 6% investment return, you’d receive...
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