State-Specific Retirement Savings: 41 States with Tax-Friendly Policies

From Nasdaq.: 2025-06-29 07:45:00

Some states are more tax-friendly for retirees than others, affecting how much of their retirement income they keep. Social Security benefits are crucial for many retirees, with the average monthly benefit at $2,002. Fortunately, 41 states and Washington D.C. don’t tax Social Security income. Furthermore, nine states, including Alaska and Florida, don’t tax any retirement income at all. However, it’s essential to consider factors beyond taxes when deciding where to retire, such as cost of living and quality of life. Additionally, maximizing Social Security benefits can provide a significant boost to retirement income, with potential strategies to increase benefits by $23,760 annually.



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