Reported 2 days ago
While retiring in cities with low living costs may seem appealing, there are several hidden expenses that could impact your budget. High energy bills, exorbitant home insurance premiums due to climate risks, grocery taxes, and additional community fees can significantly increase your financial burden. Additionally, the tax implications on retirement income vary by state, with some states imposing taxes on pensions and 401(k) withdrawals. It's essential to thoroughly research these factors before making your retirement relocation decision.
Source: YAHOO