Episode 116: "Retiring Out of State? CAUTION! Consider These Costs First!"

Are you thinking about retiring out of state? Before making this major life change, it’s crucial to understand the real costs involved and how they could impact your retirement savings. In today’s video, Tom pulls from his 29 years of working with retirees and provides an in-depth guide on the key factors you need to consider before making the move, including: Why People Relocate Comprehensive Cost EvaluationTax ConsiderationsHealthcare CostsHousing Market & Associated CostsMoving & Relocation ExpensesPlanning & Preparation: Don't let unforeseen expenses derail your retirement plans! We’re here to guide you through the financial landscape of retiring out of state, helping you make an informed decision that aligns with your retirement dreams. Watch now and equip yourself with the knowledge you need for a smooth and successful retirement transition. Jump to a segment using the 𝘁𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀 𝗯𝗲𝗹𝗼𝘄! 👇  TIMESTAMPS 00:00 How Moving Out of State Can Impact Your Retirement 00:37 People are Moving to Lower Cost of Living & Taxes 01:44 People are Moving for Better Climate & to Be Close to Family 06:00 Before You Move to Another State: Evaluate the Entire Cost of Living 09:45 Consider all the Taxes 12:00 Consider Health Care 14:40 Evaluate the Housing Market & Associated Costs 17:56 Consider all Your Moving/Relocation Expenses 20:56 Other Costs? Adjust Your Trust/Will & Update Licensing/Registration 23:23 Understand the Estate Tax in Your New State 25:20 Who Can Help You Figure Out All the Costs Before You Move 28:28 Consider Each of These Items & Create Your List of Questions 29:30 How to Secure Help and Get Further Info Have specific questions for Tom and the team at Mosley Wealth Management? Contact us here 👇 https://mosleywealthmanagement.com/contact/ =========================================== If you enjoy this content, please 𝐒𝐔𝐁𝐒𝐂𝐑𝐈𝐁𝐄! https://www.youtube.com/channel/UCPMvD3G1cZA1Kz4CKnwynhA?sub_confirmation=1 ===========================================   ⭐ 𝐂𝐎𝐍𝐍𝐄𝐂𝐓 𝐖𝐈𝐓𝐇 𝐔𝐒 𝐎𝐍 𝐒𝐎𝐂𝐈𝐀𝐋 𝐌𝐄𝐃𝐈𝐀⭐ - Facebook: https://www.facebook.com/mosleyeaseintoretirement - Instagram: https://www.instagram.com/easeintoretirement/ - LinkedIn: https://www.linkedin.com/company/mosley-wealth-management #MovingOutofState #RetirementRelocation #RetirementIncome #RetirementPlanning #RetirementStrategy #FinancialEducation #FinancialLiteracy #HowToRetireEarly #RetirementPlanningAt50 #RetirementPlanningAt60 #HowMuchDoINeedToRetire #HowToRetireEarly #RetirementPlanningTips #FinancialAdvisor #SocialSecurity   DISCLOSURE: Investment advisory services offered by duly registered individuals through Mosley Wealth Management, Inc. (“MWM”). MWM and Mosley Insurance and Financial Services are affiliated companies by common ownership. License # 0K76766 Investing involves risk, including the potential loss of principal. Any references to protection, safety, or lifetime income, generally referred to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength claims paying abilities of the issuing carrier. This content is intended for informational & educational purposes only. It is not intended to be used as the sole basis for financial decisions nor should it be construed as advice designed to meet the needs of an individual situation. All hypothetical examples are provided for illustrative purposes only; they do not represent real life scenarios. Mosley Insurance & Financial Services nor its agents or representatives may not give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any investment decisions. Our firm is not affiliated with or endorsed by the US government or any governmental agency. Some of the information provided may be from one or more third parties which we believe to be reliable sources, but accuracy and completeness cannot be guaranteed by Mosley Insurance & Financial Services.For more information go to: www.mosleywealthmanagement.com