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Use income taxes to improve retirement

Posted: Mon Mar 09, 2020 9:13 am
by Christopher wayne
One way to boost your retirement chances is to leave states with high income taxes. Prime example: California. An income as low as $43k, incurs an 8% tax bracket for singles. $53k gets you a 9.3% bracket. As a bonus, you can reap a big profit on overpriced California home, and buy a cheaper, bigger house elsewhere. This is the best financial literacy advice anyone has given me; leave for a low tax and affordable state.
This is why millions of wealthier retirees leave California. To often be replaced by poorer, low-skilled immigrants or the super rich who work for the tech companies. That means the Cali economy is spiraling into the toilet...yet another reason to leave that state.