Kelly Wright on Testing Retirement Before Making It Permanent

Wealth managers weigh the pros and cons of a summertime retirement ‘trial run’

Kelly Wright, Director of Financial Planning at Verdence Capital Advisors, emphasized that retirement planning involves more than simply deciding when to leave the workforce. It also requires careful consideration of where retirement will take place. In discussing the idea of using a summer vacation as a retirement “trial run,” Wright highlighted the importance of evaluating the financial impact of a potential relocation before making long-term decisions.

Specifically, Wright noted that retirees should compare state tax structures, including how different states treat retirement income, deductions, and adjusted gross income. He also encouraged prospective retirees to look beyond income taxes and assess broader cost-of-living factors such as property taxes, insurance costs, and everyday expenses. His recommendation is to create a state-by-state financial comparison to better understand how a retirement destination may affect long-term cash flow and overall retirement sustainability.

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https://www.investmentnews.com/practice-management/retiring-in-the-summer/266804