Connecticut
This is the place that captures all the essence of New England, and this makes it a very attractive location for many retirees. But beneath this nice and charming surface, Connecticut poses some challenges for those who want to retire here.
The tax environment is not friendly to retirees because the state imposes high property taxes and taxes on Social Security income based on the adjusted gross income. Also, if you want to withdraw from your retirement accounts, you will be fully taxed, and in case you are living on a fixed income, these are not the best news.
If we are talking about combined sales and income tax, Connecticut ranks as having the fifth-highest tax burden in the whole country! Combine all of these factors, and you get a state where financial planning is a nightmare for seniors.
The cost of living in Nutmeg State is one of the highest you can find in the US, with housing, healthcare, and utilities making people pay a little fortune for them. While the state has a higher quality of healthcare compared to many others, accessing it can come with a steep price tag.
We need to also mention the harsh and cold winters. The landscapes might be beautiful and look straight out of a fairytale, but those who want to retire here will most probably not appreciate them at all. The frequent snowstorms are a dealbreaker for anyone suffering from mobility issues.
we have already paid taxes on our social security, so how do they qualify taxing us again when we file our taxes every year.
Stop taxing social security it’s shameful
There is no excuse for State in the Union to tax Americans to this extentt, especially, retiree’s. This is shameful conduct by our Representatives not to look after our most precious Americans, babies and seniors.