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Could Relocating in Retirement Backfire?
Kailey Hagen admits there are upsides to moving, but she cautions on three items that might give seniors pause before making the leap to a new city or town. Moving in retirement can affect how much you need to save to cover your costs. Moving could also cause some seniors to owe taxes on their Social Security benefits, as 12 states currently have an income tax on these benefits. Lastly, a new community may not always feel like home right away, especially if you don’t have friends or family in the area. Full article here.
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