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Are you dreaming of retirement, or currently in retirement and dreaming of a new chapter in life? 

Once a year everyone should take the time to review and update their financial plan.  In addition to your financial needs, it’s also a good time to take inventory of your wants and wishes in life.  We encourage people to have a plan that can carry out your dreams in retirement, as well as provide direction to your investments.  Having a financial mentor to lead you down the retirement road map can keep you accountable and quite often lead to new ideas about these amazing chapters in life! 

Ask yourself these questions:

  • Where will retirement take you?
  • Who will you share it with?
  • Are you prepared? 
  • Do you have enough?
  • Are your investments on track?
  • Who will help guide you?

Now is your time to get started and live out an amazing retirement.  Listed below are a few creative places to retire, save money, and start a new adventure.  If not now, then when!?

Washington, Oregon and Nevada:

  • Live in the states Washington and Nevada with no state income tax and border the state of Oregon with no sales tax
  • Imagine living in Vancouver, WA with no state income tax and shopping in Portland, OR with no state sales tax
  • it’s a 23-mile drive between the two cities
  • Washington has lower home prices, then cross over the bridge of the Columbia river to Oregon and shop for food, clothing, electronics and anything else you can load into your SUV
  • Beautiful part of the country to live in and the Portland airport offers retirees quick access to travel
  • Oregon also borders Nevada, if you’re up for a bit more of a drive once or twice a month Reno, NV

South Dakota and Montana:

  • Live in South Dakota with no state income tax and shop in Montana with no sales tax
  • Rapid City and Sturgis, both in South Dakota are within a five-hour drive from major cities in Montana such as Billings
  • South Dakota is ranked one of the top places to retire covering multiple categories such as low cost of living, low taxes, high overall well-being, and excellent health care quality

Wyoming and Montana:

  • Live in Wyoming, beautiful cities such as Sheridan and Cody with no state income tax
  • Bigger cities such as Billings and Bozeman, MT being only 2-3 hours away for tax free shopping in Montana
  • Wyoming has one of the lowest crime rates in the country, making a safe place to retire
  • Adventure awaits at Yellowstone National Park, offering year-round activities

New Hampshire – no state income tax and no state sales tax:

  • One of the most tax friendly states for retirees in the U.S. 
  • 90 minutes to Boston and within one-hour drive to the beautiful east coast beaches
  • NH ranks in the top 5 states for senior health, hospitals and nursing care according to the United Health Foundation

Alaska – no state income tax and no state sales tax:

  • Social Security income and pension income is not taxed by the state
  • Some cities exempt seniors from part of their property tax
  • Anchorage is a three-hour direct flight from Seattle
  • Living in bigger cities like Anchorage keeps you close to good healthcare options while still being close to all the beautiful scenery and outdoor activities for active seniors
  • The number of people ages 65 and older is growing in Alaska, up to almost 10% of the population, compared to about 15% for the rest of the U.S.

Other no income tax states to consider:

  • Tennessee, Texas, and Florida

Other states with no income tax and have bordering states with low sales tax:

  • Tennessee – No state income tax, borders Georgia with a 4% sales tax, Missouri 4.225%, and North Carolina with 4.75% sales tax rate
  • Texas – No state income tax, borders Louisiana at 4.4% sales tax and Oklahoma at 4.5%
  • Florida – No state income tax, borders Georgia with 4% sales tax

All information and numbers provided are for discussion purposes only.  All tax numbers listed are from 2019 and may change at any-time. 

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