During your working career you can make adjustments on the fly. Paychecks are still coming in, and you can cut some spending to shore up holes in your savings plan.
But once you retire, there’s no more income to offset any unexpected spending you may have done. That’s why you must be acutely aware of how you position yourself and your money in retirement.
After you have invested your money to best avoid risk, the biggest threat to your income is taxation. Retirees must do everything possible to avoid the painful bite of income taxes. To help them, GoBankingRates.com has developed a list of the best and worst states for retiree taxation.
The winners are:
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