Friday, July 20, 2018 2:14:57 PM
Fact: The Land of 10,000 Lakes is a hard place for retirees to stay afloat. Above-average living expenses and below-average incomes can equate to imbalanced budgets in retirement. Plus, the tax situation adds an extra burden. One of the 10 Worst States for Taxes on Retirees, Minnesota taxes Social Security benefits to the same extent as the federal government. Most other retirement income, including military, government and private pensions, is also taxable. And the state's sales and income taxes are high.
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