Good morning. You really do not want to live in a state like Texas where the state revenue is generated by a property tax rather than an income tax because when you are retired, your income is less. Think of it this way...if you have a $1,000,000 that you have managed to save, if you put it in any other asset than a home, then you don't pay a tax on the asset itself, but if you put it in a home, you have a tax on it....it's like having a permanent mortgage. You are far better to move to a state like Florida and Nevada with no income tax, but that generates their revenue from tourism and don't need to hit the residents.
I hope this has given you the guidance you were seeking. I wish you the best of luck!
If you have a follow-up question, please remember that there might be a delay between your follow up questions and my answers because I may be helping other clients or taking a break.
If I have adequately answered your question, even though the answer might not have been the one for which you hoped, I would appreciate it if you would please click the GREEN ACCEPT button so that I receive credit for my work; otherwise, though you have made a deposit, I do not receive credit.
If you need additional clarification on this question after clicking ACCEPT, please do not hesitate to click Reply and I will be happy to do what I can to help you further. Thanks for allowing me to be of service to you.
The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.