Updated
Updated · The Two River Times · Jul 17
Bennett Urges 250,000 Retirees to Weigh Full Relocation Costs, Not Just 9 No-Tax States
Updated
Updated · The Two River Times · Jul 17

Bennett Urges 250,000 Retirees to Weigh Full Relocation Costs, Not Just 9 No-Tax States

1 articles · Updated · The Two River Times · Jul 17

Summary

  • More than 250,000 Americans moved for retirement in 2024, and Michelle D. Bennett says crossing state lines can reshape taxes, healthcare access, insurance, estate planning and long-term retirement sustainability.
  • Nine states levy no broad state income tax, but Bennett argues that metric alone can mislead because property taxes, sales taxes, insurance premiums and estate-tax rules can offset any savings.
  • Retirement income is also taxed unevenly across states, with Social Security, pensions and IRA or 401(k) withdrawals treated differently; Missouri and Nebraska recently ended state taxes on Social Security benefits.
  • About 13% of retirees who moved in 2025 cited health as the main reason, underscoring Bennett's warning to compare Medicare options, provider networks, specialists and long-term care costs before relocating.
  • Bennett says retirees should also confirm residency rules and update wills, trusts and powers of attorney, framing a move as a full financial-planning exercise rather than a simple real-estate decision.

Insights

Beyond income tax, what hidden state costs are derailing retirement budgets?
Is leaving the U.S. the new secret to an affordable retirement?
With Social Security cuts looming, which states offer the best financial safety net?