Photo: Owen Casey

What is the friendliest state for retirees?

1. Delaware. Congratulations, Delaware – you're the most tax-friendly state for retirees! With no sales tax, low property taxes, and no death taxes, it's easy to see why Delaware is a tax haven for retirees.

kiplinger.com - 10 Most Tax-Friendly States for Retirees - Kiplinger

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About Our Methodology

Our tax maps and related tax content include data from a wide range of sources. To generate our rankings, we created a metric to compare the tax burden in all 50 states and the District of Columbia.

Data sources

Income tax – Our income tax information comes from each state's tax agency. Income tax forms and instructions were also used. Unless otherwise noted, the rates and threshold amounts listed are for the 2022 tax year. See more about how we calculated the income tax for our hypothetical retired couples below under "Ranking method." Property tax – The median property tax rate is based on the median property taxes paid and the median home value in each state for 2020 (the most recent year available). The data comes from the U.S. Census Bureau (opens in new tab). By using data on taxes actually paid and median home values, differences between the cost of housing from one state to another are factored into the equation (although the median property tax rate is still a statewide figure). Sales tax – State sales tax rates are from each state's tax agency. We also cite the Tax Foundation's (opens in new tab) 2022 average combined sales tax rate, which is a population-weighted average of state and local sales taxes. In states that let local governments add sales taxes, this gives an estimate of what most people in a given state actually pay, as those rates can vary widely.

Ranking method

The "tax-friendliness" of a state depends on the sum of income, sales and property tax paid by our two hypothetical retired couples. To determine income taxes due, we prepared tax returns for each state and the District of Columbia for both couples. The first couple had $15,000 of earned income (wages), $20,500 of Social Security benefits, $4,500 of 401(k) plan distributions, $4,000 of traditional IRA withdrawals, $3,000 of Roth IRA withdrawals, $200 of taxable interest, $1,000 of dividend income, and $1,800 of long-term capital gains for a total income of $50,000 for the year. They also had $10,000 of medical expenses, paid $2,500 in real estate taxes, paid $1,200 in mortgage interest, and donated $1,900 (cash and property) to charity. The second couple had $37,500 of Social Security benefits, $26,100 of 401(k) plan distributions, $18,200 of private pension money, $6,000 of traditional IRA withdrawals, $2,000 of Roth IRA withdrawals, $2,000 of taxable interest, $4,000 of dividend income, and $4,200 of long-term capital gains for a total income of $100,000 for the year. They also had $10,000 of medical expenses, paid $3,200 in real estate taxes, paid $1,500 in mortgage interest, and donated $4,300 (cash and property) to charity. We calculated these 2020 returns using software from Credit Karma (opens in new tab) (some adjustments were made to account for certain 2021 tax law changes). How much they paid in sales taxes was calculated using the sales tax deduction tables in the instructions for federal Schedule A (Form 1040) (opens in new tab) and the Tax Foundation's (opens in new tab) 2021 midyear average combined sales tax rates. How much each hypothetical family paid (and deducted on their income tax return, if allowed) in property taxes was calculated by assuming a residence with a $250,000 assessed value for the first couple and a $350,000 assessed value for the second couple. We then applied each state's median property tax rate to that appropriate amount.

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What U.S. city has the best quality of life?

The U.S. Cities With The Highest Quality of Life 2022 San Diego, California. Hartford, Connecticut. Portland, Maine. Reno, Nevada. Fort Collins, Colorado. Boston, Massachusetts. Madison, Wisconsin. Trenton, New Jersey. More items... •

walletgenius.com - The U.S. Cities With The Highest Quality of Life 2022 | WalletGenius

There are plenty of factors to consider when it comes time to decide where you want to live. You don’t want to just choose a city that is the cheapest, since those locations often come with other negative aspects — poor healthcare systems, lower paying jobs, and crumbling public education and infrastructure. On the other hand, some of the most expensive cities don’t really offer the highest quality of life either. So what’s the solution?

The U.S News & World Report has ranked U.S. cities based on a number of important criteria. It includes analyzing the job market, housing costs, healthcare costs, local education systems, crime rates, weather, desirability, and net migration (are more people moving in or moving away). These factors combine to form an entire Quality of Life index score, which is used to rank cities across the nation. Here are the 12 best ranking cities for 2022.

San Diego, California

San Diego is a beautiful city in sunny California. It has great culture, great nightlife, and amazing beaches. There’s a variety of entertainment options, including major concert venues and professional sports teams. The job market is hot, especially for those in the tech industry. At first glance, there’s literally nothing bad about settling down in San Diego.

And then you look at the cost of living.

The median home price in the city is almost $900,000. That’s close to three times the national average. Rental prices are also insanely high throughout the city. Plenty of other important goods and services are also priced above the national average. So the high cost of living makes San Diego a tough sell for anyone not earning at least six figures per year. On the other hand, if you can afford it, San Diego is sunny West Coast paradise.

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