What are the perceived benefits of moving to a low-tax state in retirement? Is it all it’s cracked up to be?

We’re gonna cover a Wall Street Journal article by Debbie Carlson that delivers an important dose of nuance: “Don’t let the income-tax tail wag the total-spending dog.”

I also answer a very thoughtful question from Lynn about sequence of returns risk, as well as average returns vs order of returns.

Key topics from the article:

🏠 Real Estate & Insurance Can Eat Up the Savings
📊 For Middle-Income Retirees, Sales & Property Taxes Matter More
💵 Homeowners Insurance Is a Big—and Growing—Expense
📚 Don’t Forget State-Level Retirement & Estate Taxes
🧮 Ben’s Take: Look at the Whole Picture

Resource:
Article by Debbie Carlson: https://www.wsj.com/personal-finance/taxes/retirement-low-tax-rate-states-move-cabdb31b

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Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement

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How do you stay calm and confident when the markets get messy? In today's Retirement Headlines we go through Cullen Roche's article from Discipline Funds - "Finding Certainty in a Sea of Uncertainty".

With tariffs, global uncertainty, and market volatility making headlines again offers nine practical steps to help you stay grounded, focused, and on track with your retirement plan.

The 9 Calming, Confidence-boosting steps the article lays out are:

1. Revisit Your Financial Plan
2. Update Your Estate Plan
3. Consider Tax Loss Harvesting
4. Dollar Cost Average Excess Cash
5. Think in Terms of Time Horizons
6. Stay the Course (If You Can)
7. Talk About It
8. Focus on What You Can Control
9. Go Do "Leg Day"

After that, I answer a listener question: “I’ve been paying $1,600 a year for a $500,000 level term life insurance policy, which runs through 2031. I have two financially stable adult children in their 30s, who are the policy’s beneficiaries, and two grandchildren. Should I keep making the premium payments—or let it lapse?”

Resource:

Article by Cullen Roche: Finding Certainty in a Sea of Uncertainty

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Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement

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One of the biggest and often overlooked risks facing retirees is sequence-of-returns risk. The risk of experiencing investment losses early in retirement can have an impact on the sustainability of savings over the long term.

Morningstar researchers dug into this in their latest State of Retirement Income study. Their findings confirm what many retirement planners already suspect: the first five years of retirement are make-or-break.

I'll also answer a listener question: "Are there advantages to moving all your mutual funds into a brokerage firm such as Schwab? "

Resource:
Morningstar article: How to Avoid Outliving Your Retirement Savings? It’s All in the Sequence

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• Work with Benjamin: https://retirementstartstoday.com/start

Get the book - out now!
Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement

Follow Retirement Starts Today in
Apple Podcasts, Spotify, Overcast, Pocket Casts, Amazon Music, or iHeart