Looking to make your retirement savings last as long as possible? Just jump the border. No, not that border, the state border. Living in a high cost and high tax state like New Jersey or New York will eat through your hard-earned nest egg much faster than living in a lower cost and lower tax state like Pennsylvania, just a short drive away. And, consider ditching the property to move into a Continuing Care Retirement Community (CCRC). In fact, one news source reports that more residents left New Jersey than any other state in 2018, and more than a third were retirees. With so many deciding to jump the border, shouldn’t you at least consider doing the same?
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