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.