Where do you WANT vs where SHOULD you live in retirement?

Posted By on July 10, 2022

While I personally have not worked the numbers, a May 2022 Barron’s Advisor column on retirement offered an enlightening look on “where” to live; it can be eye-opening!


Low income taxes aren’t everything. Many retirees who live in states with high taxes are eager to move to states with no income taxes, says Rhian Horgan, chief executive of Silvur, an app that helps baby boomers navigate retirement. But she says they need to look at their total costs including property taxes, sales taxes, and healthcare costs.

Florida has no income tax, for instance, but has high healthcare costs. A person on Medicare with supplemental medical and drug insurance will face average total medical costs of $8,352 a year in Florida, Horgan says. That’s compared with $6,208 a year in Tennessee, another state with no income tax.

Indeed, Silvur calculates that couple retiring with $1.1 million in total assets will run out of money at age 88 in Florida but age 104 in Tennessee.

That couple’s money would run out at age 77 in Hawaii, even though each spouse there would pay just $5,408 in total medical costs on Medicare, the lowest in the country, according to Silvur. Hawaii has high real estate costs and income taxes.


Desultory - des-uhl-tawr-ee, -tohr-ee

  1. lacking in consistency, constancy, or visible order, disconnected; fitful: desultory conversation.
  2. digressing from or unconnected with the main subject; random: a desultory remark.
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