The Worst Places to Retire in the U.S., Average 401(k) Balance by Age, Should You Do a Roth Conversion?

Best Places to Retire in the U.S. | The Average 401(k) Balance by Age | Taxes in Retirement: How All 50 States Tax Retirees Created for {EMAIL} | [Web Version]( June 17, 2024 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Youtube]( [Instagram]( [Retirement Tips]( [SIGN UP]( ⋅ [WEBSITE]( [] Quality of Life [] [Best Places to Retire in the U.S.]( [Best Places to Retire in the U.S.]( (Getty Images) Regardless of the reason for moving in retirement -- living closer to family, cheaper cost of living, downsizing, or better healthcare, being informed before you change your address is a smart move. So, what are the [best states to retire in](? We've highlighted the top 10. [] Retirement Savings [] [The Average 401(k) Balance by Age]( [The Average 401(k) Balance by Age]( (Getty Images) Is your 401(k) balance keeping up with the Joneses? Be honest. You can admit it. You -- like most U.S. workers with a 401(k) -- are curious about [how your personal nest egg stacks up against the average 401(k) balance by age](. [Prepare For Retirement Using a Dividend Growth Investment Strategy]( If you invested in an S&P 500 index fund starting in January 2000 until September 2020 your average annualized return would have been 4.2%, a cumulative return of 136%. But if you reinvested all dividend payments your annualized return would have been 6.2%, a cumulative return of 247%. Just reinvesting dividends would have nearly doubled your gains. [READ MORE]( ADVERTISEMENT [] Taxes [] [Taxes in Retirement: How All 50 States Tax Retirees]( [Taxes in Retirement: How All 50 States Tax Retirees]( (Getty Images) If you are considering moving to a different state, it's a good idea to investigate how each state handles taxes on retirement income before you decide. And even if you're not moving, this list can help give you a picture of your [state's tax landscape for retirees](. [] Retirement Accounts [] [Roth Conversions: The Case for and Against Them]( [Roth Conversions: The Case for and Against Them]( (Getty Images) A [Roth IRA conversion]( is the process of moving money directly from a pretax account like a 401(k) to a post-tax account (Roth IRA) and paying the tax bill in that year. Financial adviser Evan Beach lays out the pros and cons of [Roth conversions]( to see if they make sense for you. [Vanguard vs. Fidelity vs. Schwab]( Who are you partnered with? It's no secret these could be considered three of the most popular brokerage firms. But they stack up slightly differently when it comes to fees and their specific suite of services. Learn more about who should work with Vanguard, Fidelity, and Schwab. [See the comparison]( ADVERTISEMENT Featured Content Sponsored Content from Kiplinger Retirement Planning 2024 [Plan and enjoy a worry-free retirement.]( Whether you've already left the workforce or you're just beginning to think about it, [Kiplinger Retirement Planning 2024]( will show you how to maximize your 401(k), select top-performing investments, get the most from Social Security, protect your estate, ensure affordable top-notch health care and much more. [Click to see table of contents.]( [] Spending Habits [] [Can't Stick to a Budget? Eight Secrets to Succeeding Long Term]( [Can't Stick to a Budget? Eight Secrets to Succeeding Long Term]( (Getty Images) According to the financial experts of [Kiplinger Advisor Collective](, there are a few tricks you can use to make budgeting easier and possibly even more fun to do. Read on for their budgeting secrets and how you can finally [stick to your budget for the long haul](. [Strategies to Help Maximize your Income in Retirement]( Spending your hard earned retirement money can be complicated—and it's important to make the right decisions that will help your savings last. Vanguard Personal Advisor is built to provide you an ongoing collaboration with our professional advisors — so you can retire with the support you need. [LEARN MORE]( ADVERTISEMENT [] Quality of Life, Part 2 [] [Worst Places to Retire in the U.S.]( [Worst Places to Retire in the U.S.]( (Getty Images) Unlike the companion [Best Places to Retire in the U.S.](, these ten worst states to retire in 2024 generally have higher taxes and crime rates, and inadequate healthcare facilities. Read on as we highlight the [bottom ten states for retirees](. [] RELATED KIPLINGER ARTICLES WE THINK YOU'LL ENJOY [] [The Extra Standard Deduction for People Age 65 and Older]( The additional deduction stacks on the regular standard deduction and can further reduce taxable income. 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