3 Steps to Prepare for an Out-of-State Retirement скачать в хорошем качестве

3 Steps to Prepare for an Out-of-State Retirement

Have you thought about what moving to a new state might mean for your retirement budget and lifestyle? In this Ready for Retirement episode, the focus is on preparing for an out-of-state retirement. James outlines three essential considerations for retirees planning a move: 1. Housing Costs and Expenses: From property values and local property taxes to potential capital gains from selling a current home. 2. Overall Cost of Living: Everything from groceries to utilities varies widely between regions. It’s also wise to consider personal lifestyle goals—like travel or access to nature—as these can impact ongoing expenses 3. A Solid Tax Strategy: Particularly if moving to a state with different tax laws. Retirees can benefit by adjusting their tax strategy based on the state they’ll be in, potentially saving thousands over time. These tips offer invaluable guidance for anyone considering a fresh start in a new state after retirement. Questions answered: How can moving to a different state impact my retirement expenses? What tax strategies should I consider if I plan to retire out of state? ======================= 🔗 Connect with us → https://learn.rootfinancialpartners.c... Get access to the retirement software I use and more → https://retirement-planning-academy.m... _ _ ⏱Timestamps:⏱ 0:00 - An overview 1:27 - Compare housing costs 4:04 - Moving to higher property tax state 6:32 - Moving to lower property tax state 7:12 - Compare cost of living 10:48 - Dial in your tax strategy 13:44 - Consider state tax rates 14:51 - Summary Other videos we think you'll like: -- Advisory services are offered through Root Financial Partners, LLC, an SEC-registered investment adviser. This content is intended for informational and educational purposes only and should not be considered personalized investment, tax, or legal advice. Viewing this content does not create an advisory relationship. We do not provide tax preparation or legal services. Always consult an investment, tax or legal professional regarding your specific situation. The strategies, case studies, and examples discussed may not be suitable for everyone. They are hypothetical and for illustrative and educational purposes only. They do not reflect actual client results and are not guarantees of future performance. All investments involve risk, including the potential loss of principal. Comments reflect the views of individual users and do not necessarily represent the views of Root Financial. They are not verified, may not be accurate, and should not be considered testimonials or endorsements. Participation in the Retirement Planning Academy or Early Retirement Academy does not create an advisory relationship with Root Financial. These programs are educational in nature and are not a substitute for personalized financial advice. Advisory services are offered only under a written agreement with Root Financial.