One cannot escape taxes even after one retires. But there are certain states that are more tax-friendly than others. And for the individuals who are going to retire and live on a fixed income, these tax-friendly states can be a better choice. So that they can comfortably spend their money as well as enjoy their golden retirement years in peace.

Planning for income to be received after retirement is your responsibility, especially since the traditional employer-funded retirement plans and their popularity is fading. With a high-powered lifestyle and growing needs, Social Security benefits may not be enough to insure a comfortable life after retirement. Without a retirement plan, you could face a future that will be full of financial uncertainties and hardships.

One of the best investment moves you can make is to open a Roth IRA account when you are planning your retirement. It is a legal tax shelter and you will contribute money that has already been taxed. Hence, you will not be taxed again when you withdraw the amount.

Every individual saves for a comfortable retirement life. In order to enjoy a stress-free retirement period, it is important to invest at an early stage and plan your retirement to make the right investment decisions. Consider your current financial condition and set your retirement goal; based on the same, you may make investment decisions that will allow you to grow your wealth.

Retirement can be a costly proposition, so if you’re looking to choose states to retire in, it could be a long and exhausting research process. This is because all the elderly individuals want to spend their golden years peacefully with family and friends. Before finalizing the state that you would like to settle in, here are some of the important factors that you should consider.

Like you, several other retirees work extremely hard to earn a decent amount of money. And they have only one aim, to have a reservoir of finances that will help them lead an independent life even after retirement. You might often mull over the thought, “How do I make sure my savings last as long as I do?” For this you need to have a retirement plan to generate revenue, that can last for the rest of your life irrespective of the income that can withstand inflation, market ups and downs, and unexpected expenses.