Episode #245: Should We Move to Tennessee, Texas, or Florida to Reduce Costs in Retirement?

Financial media love to create lists of the “best” and “lowest cost” states to retire in.  This week we answer a question about the differences between Tennessee, Texas, and Florida as retirement destinations, and what you should consider when relocating in retirement.

Show Notes

[01:56] Market update – Market update for the month of July.

[03:34] Article of the week – Grant shares an article on 401(k) balances from the Center for Retirement Research at Boston College.

[06:01] Financial success – Grant explains how continuously putting money into your retirement plan can lead you to long-term financial success.

[09:00] Lowest Cost States – Grant shares why it’s not a good idea to relocate based on the lists provided by financial media on lowest cost states for retirement.

[14:22] Trial run – Grant explains the first step you need to take if you are hoping to relocate.

[20:00] Blue Zones – Grant shares the places around the world where people have longer and happier life spans.

Resources

The best and lowest cost states to retire in 2024 – Ranked

moneywise.com/retirement/best-states-to-retire-in

 

The Lowest Cost States to Retire in 2024

fool.com/retirement/relocation/cheapest-states-to-retire/

 

A Strong Year for 401(k) Balances Masks the Truth About Long-Term Performance

crr.bc.edu/a-strong-year-for-401k-balances-masks-the-truth-about-long-term-performance/