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A third of Americans (32%) are considering relocating in retirement, led by those in the Northeast (41%) and West (37%) who often face higher tax burdens, according to new research from the Nationwide Retirement Institute. Grappling with a variety of financial headwinds, many employees remain concerned about their retirement prospects – 4 in 10 (41%) now expect to retire at age 66 or later.
“There are a variety of reasons why investors may want to relocate – driven by both financial and lifestyle needs,” said Eric Stevenson, President of Nationwide Retirement Solutions. “Although the rationale is likely to be different for every investor, inflation, local and state taxes, and access to health care and senior services are likely big factors driving this trend.
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