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How to Find the Best Place to Retire

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Everyone looks forward to the freedom that retirement living offers. But with the financial realities of living on a fixed income, how can you make your savings go further? The choice of where you want to live in retirement will affect not just your lifestyle but also your finances.

In the following video, Motley Fool investment-planning editor Lauren Kuczala talks with longtime Fool contributor and retirement expert Dan Caplinger about deciding the best place to live when you retire. Dan notes that while there are obvious non-financial considerations, cost of living, taxes, and available benefits make a big difference for retirees trying to make ends meet. He notes that for those with substantial savings, looking for low-cost states without an income tax is often the best way to minimize taxes on investment income. Yet for those who want to live in higher-cost states, Dan has suggestions that can help you reduce taxes to the fullest extent possible.

Retirees often seek income for their portfolios, and midstream operator Kinder Morgan has enormous potential for profits. In The Motley Fool's premium research report on Kinder Morgan, we break down the company's growing opportunity -- as well as the risks to watch out for -- to uncover whether it's a buy or a sell. To determine whether this dividend giant is right for your portfolio, simply click here now to claim your copy of this invaluable investor's resource.


Read/Post Comments (4) | Recommend This Article (3)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On April 28, 2013, at 12:46 PM, mr091468 wrote:

    We've owned KMR in our otherwise taxable account to defer taxes on current dividends. Encorage KMR, KMP, KMI and the many other MLP's to begin payouts on a monthly basis as opposed to quarterly as LINE/LNCO has done. People need monthly cash income not quarterly. Bills, et al come in monthly not quarterly.

  • Report this Comment On April 28, 2013, at 1:20 PM, KnockKnock20 wrote:

    How can you claim to know how to invest, but cannot manage your money on a quarterly basis?

  • Report this Comment On April 28, 2013, at 1:48 PM, MCCrockett wrote:

    Having just retired from work, I'm curious about the emphasis on retiring to somewhere else.

    Consider housing costs. My housing cost consists of utilities and property taxes. If I retire to somewhere else, my housing costs will increase substantially as I would have to pay rent or a mortgage.

    Most states don't have income taxes on Social Security retirement benefits. Some don't tax pensions.

    States with no income taxes appear to make it up with higher property, sales, and excise taxes but most of these seem to be in states where the weather sucks.

  • Report this Comment On April 29, 2013, at 3:12 PM, carlytx wrote:

    Some of the best places to retire in 2013 both in the US and abroad are listed on a new retirement site called retirementandgoodliving.com Some great information about various retirement topics.

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Dan Caplinger
TMFGalagan

Dan Caplinger has been a contract writer for the Motley Fool since 2006. As the Fool's Director of Investment Planning, Dan oversees much of the personal-finance and investment-planning content published daily on Fool.com. With a background as an estate-planning attorney and independent financial consultant, Dan's articles are based on more than 20 years of experience from all angles of the financial world.

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