A Gold IRA is a self-directed individual retirement account that holds physical precious metals — gold, silver, platinum, or palladium — instead of the paper assets that fill a conventional IRA. The IRS first authorized these accounts in 1997 under the Taxpayer Relief Act, and today they sit alongside stocks, bonds, and mutual funds as…
Wyoming is, by most measures, the most tax-friendly state in the country for retirees. There is no state income tax, no tax on Social Security or pension income, no tax on IRA distributions, no estate tax, and no inheritance tax. The state also has one of the lowest overall tax burdens in the nation when…
Vermont has one of the oldest population profiles in the country — roughly 21% of residents are 65 or older — which means more Vermonters are actively making decisions about retirement accounts than in almost any other state. The Green Mountain State also has one of the higher state income tax structures in the Northeast,…
Utah has one of the youngest median ages in the country, but the demographic that owns the most retirement assets — the 50- to 70-year-old cohort — is also one of the most concentrated in the western United States. Decades of growth in the Wasatch Front tech corridor (often called Silicon Slopes), the financial services…
South Dakota stands out as one of the best states in the country to retire from a tax perspective. The state imposes no personal income tax, no estate tax, no inheritance tax, and no separate tax on retirement income, Social Security, pensions, or IRA distributions. For South Dakota residents in their 50s and 60s building…
Rhode Island residents heading into retirement face an unusual mix of tailwinds and headwinds when it comes to long-term savings. The Ocean State has one of the highest median household incomes in New England, a high concentration of pre-retirees employed by long-tenured Rhode Island institutions like CVS Health, Hasbro, Textron, Brown University, and the Naval…
Oklahoma offers a meaningful blend of low cost of living, retirement-friendly tax policy, and a deep energy-sector retirement base. The top state income tax rate stands at 4.75% with phased reductions continuing under recent legislation, and the state offers a $10,000 retirement income exclusion for taxpayers receiving distributions from qualifying retirement plans. Social Security benefits…
North Dakota offers one of the most favorable retirement tax environments in the United States. The top marginal income tax rate of 2.5% is among the lowest in the country, Social Security benefits are fully exempt from state taxation, and the cost of living statewide sits well below the national average. The Bakken oil boom…
New Mexico has one of the most underappreciated retirement tax profiles in the Mountain West. Under legislation that took full effect in 2024, Social Security income is fully exempt from state taxation for individuals earning under $100,000 and married couples earning under $150,000. The state’s top marginal income tax rate is 5.9%, but a sizable…
Arkansas has quietly become one of the most retiree-friendly states in the Midwest. Top marginal income tax dropped to 3.9% under recent legislation, and retirees receive a $6,000 exemption on each qualifying retirement plan distribution. Combined with one of the lowest costs of living in the United States and a property tax burden well below…
