Wednesday, January 27, 2010

In this week's "Money Matters" we have some tips for picking the right spot to spend your golden years.

1. Cost of Living: Moving top a place with lower housing, food and entertainment costs is an obvious way to stretch your nest egg.

2. Low Tax Locales: Taxes vary considerably by location. Seven states don't have an income tax. Two states tax only dividend and interest income and five states have no sales tax. Don't forget to check out property taxes and any exemptions for seniors.

3. Health Care Facilities: Just because you're in good health now, that doesn't mean you will be 10 years from now. You'll want to know the availability of doctors, hospitals and senior health care facilities where you are going.

4. Proximity to Family: You may want to be near your grandchildren and children. Or, you may want to live near an airport that has reasonable air fares to where they live.

5. Public Transportation: Retirees often reach a point when they no longer want to drive. Consider the cost and the quality of a town's public transportation system.