Quote:
Originally Posted by NotaBRG
You shouldn't 'retire' in Minnesota because it has the fourth highest income tax rate?
"Retire" doesn't mean what it used to mean.
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Most people save money for retirement in 401ks and/or have annuities, pensions etc.
Drawing money out of accounts like that can be considered income in many instances. Paying taxes on retirement savings can be a really, really big deal.
My parents are retired but they pay quite a bit in taxes every year.
They bank more money than they spend so it doesn't hurt them that bad but still ...