Florida and Texas have long been popular destinations for retirees, especially those with high income. In addition to offering mild weather year-round, both Florida and Texas have no state income tax. They also generally have a lower cost of living than coastal states like New York and California. But these so-called “cheap” states have some financial drawbacks as well, prompting many seniors to reconsider where and how they want to spend their golden years.
Here’s a look at what those costs are and where many retirees are moving instead.
