Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • How We Are Different
  • Debbie Young
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • Your Survival Guy
  • The Great Reset
  • The Swiss Way
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • COVID-19
  • Dick Young
  • Key West
  • Paris
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Work to Make Money/Invest to Save Money
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve: My Favorite Investor Tool

Maximize Your Retirement by Leaving Income Taxes Behind

November 23, 2018 By E.J. Smith - Your Survival Guy

By Eviart @ Shutterstock.com

If you have a solid retirement portfolio, chances are you are paying federal taxes on the income it generates. If you’re unlucky enough to live in a state with its own income taxes, you could be paying even more.

There is one foolproof way to get more from your retirement revenue streams, and that is to move to a state which doesn’t force you to pay taxes on your income.

I have written a number of posts on how you can determine where best to live in retirement. Here’s a sample:

  • Your Retirement Life: Looking for Tax Freedom? Here’s Where to Find It
  • Your Retirement Life: How Do You Know Where to Live in Retirement?
  • Where to Live to Save for Retirement. It’s Not Where You Think
  • 10 Worst States to Retire in for Taxes
  • Retirement State: Which States have the Highest Estate or Inheritance Tax?

Now, Renwick Wilson, at Fox Business, has assembled a tidy list of the states without income taxation.  He writes:

Recent studies have found that Americans are becoming increasingly concerned that they will outlive their savings, with more than 30 percent of Americans expecting that they will need more than $1 million in retirement, according to NerdWallet.

Taxes on retirement benefits, as well as interest and dividend income, place additional financial strain on Americans’ retirement plans.

For those looking to maximize their retirement income by minimizing their taxes, here are the seven states without an individual income tax.

  1. Alaska
  2. Florida
  3. Nevada
  4. South Dakota
  5. Texas
  6. Washington
  7. Wyoming

Read more here.

Originally posted on Your Survival Guy. 

Related Posts

  • How High are Your State's Corporate Income Taxes?
  • Southern States Strive to Keep Income and Estate Taxes Low or Nonexistent
  • Taxes on Dividends
  • Author
  • Recent Posts
E.J. Smith - Your Survival Guy
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998.

E.J. has trained at Sig Sauer Academy in Epping, NH, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.

E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@yoursurvivalguy.com

Click here to sign up for my free monthly Survive & Thrive letter.
Latest posts by E.J. Smith - Your Survival Guy (see all)
  • Schwab Down 30%, Fidelity, Vanguard, BlackRock, and You - March 31, 2023
  • BEWARE: The Road to Digital Currencies - March 30, 2023
  • Bad Guys Have Guns, Targets Must be Hardened - March 30, 2023

Dick Young’s Must Reads

  • Your Survival Guy’s 2022 Super States: #1 New Hampshire
  • When Is the Best Time for You to Do This?
  • The Four Most Important Words in Investing
  • The Armed American Family: Part I
  • What to Do about China?
  • Victor Davis Hanson: How to Bust DC’s Stronghold
  • Paris, The Palace Hotels: Part I
  • Warning! Your Survival Guy’s on a Boil Water Advisory
  • Progressive Liberalism Has Dragged America near Ruination
  • WAR HAS BEGUN: What Advice Are You Giving Your Loved Ones?

Our Most Popular Posts

  • Freefalling at Stanford
  • Is Vanguard Voting Against Your Political Beliefs?
  • The Forgotten America
  • Does Anyone Still Think Ron Paul Was Wrong?
  • Rand Paul Surprises Moderna CEO with Inside Information about Myocarditis Risk
  • “You Just Have to Be Willing to Move Defensively”
  • Biden's Fake Democracy Summit: Hungary and Turkey Snubbed
  • Your Survival Guy’s #1 Habit of Fairly Successful People
  • Dick & Debbie: Over Three Decades in Key West
  • What’s John Kerry Doing in Mexico?

Disclosure

RSS Youngresearch.com

  • Schwab Down 30%, Fidelity, Vanguard, BlackRock, and You
  • BEWARE: The Road to Digital Currencies
  • Another Habit of Highly Successful and Fairly Wealthy People
  • The Greatest Threats to the American Economy
  • Your Survival Guy’s #1 Habit of Fairly Successful People
  • New Regulation Coming for CDS Market?
  • “You Just Have to Be Willing to Move Defensively”
  • Americans Are Fleeing Bank Deposits
  • If You’re a Highly Effective Person, We Should Talk
  • Trouble Now Brewing at Deutsche Bank

RSS Yoursurvivalguy.com

  • Schwab Down 30%, Fidelity, Vanguard, BlackRock, and You
  • Why Your Survival Guy Eschews Annuities
  • Government Debt Service a Growing Burden for Americans
  • BEWARE: The Road to Digital Currencies
  • Bad Guys Have Guns, Targets Must be Hardened
  • Another Habit of Highly Successful and Fairly Wealthy People
  • The Greatest Threats to the American Economy
  • Is America about to Deploy Star Wars-like X-Wings on the Battlefield?
  • Your Survival Guy’s #1 Habit of Fairly Successful People
  • Western Real Estate: From Zoom to Bust

Our Friend from Hungary Holding Court at “Thirsty”

Schwab Down 30%, Fidelity, Vanguard, BlackRock, and You

My Grandkids All Own Guns

Globalism Has Made America Dependent on Foreign Countries

The County Sheriff: America’s Last Hope

Is Modern Warfare Causing Cancer?

Copyright © 2023 | Terms & Conditions | About Us | Dick Young | Archives