Mailbag question:

“My husband and I are assembling our retirement plan and planning to relocate once I quit working.  We’re trying to decide between Tennessee, Florida and Texas, since they’re all states with lower tax and retirement lifestyle costs.  Which do you think is best?  The lists are all different.”

 

Intro:

Financial media love to create lists of the “best” and “lowest cost” states to retire in.  This week we answer a question about the differences between Tennessee, Texas, and Florida as retirement destinations, and what you should consider when relocating in retirement.

 

Resources

The best states to retire in 2024 – Ranked

moneywise.com/retirement/best-states-to-retire-in

 

The Most Affordable U.S. States to Retire in 2024

fool.com/retirement/relocation/cheapest-states-to-retire/

 

A Strong Year for 401(k) Balances Masks the Truth About Long-Term Performance

crr.bc.edu/a-strong-year-for-401k-balances-masks-the-truth-about-long-term-performance/