The 10 Most and Least Tax-Friendly States for RetireesThe 10 Most and Least Tax-Friendly States for Retirees

Taxes can be a major drag on a client’s investment portfolio, but it can also hurt their overall income and savings accounts. If more money’s going to the state, that’s fewer dollars they can put to work in the markets.

And the problem is magnified for retirees—those in the decumulation phase of life. The good news is, location can help, according to a recent analysis by Kiplinger.com. The website analyzed tax breaks across all 50 states and identified the 10 most and 10 least tax-friendly jurisdictions.

“Location plays a major role in the quality of retirement years—we hope to make this decision easier for those in the midst of this exciting life stage,” said Sandra Block, senior editor, Kiplinger’s Personal Finance.