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Why do they need a place that doesn't have high taxes?
by stefan_ 5y ago
Why do they need a place that doesn't have high taxes?
- toomuchtodo 5y agoRetirement income can't support high annual tax burden unless you're at the upper end of annual social security benefits and have a significant asset base (whether that's capital market investments or real estate rentals/commercial real estate throwing off passive income). It's why people accumulate wealth in high cost of living areas (typically, where wages are higher), and retire/move to low cost of living areas (pre remote work normalization). High taxes are drag on quality of life when you're on a fixed income and you’re not dependent on services high taxes would provide.