New Data Reveals the 5 Best States to Boost Your Retirement Savings in 2024

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1. Tennessee

Insider Monkey Score: 95

Based on our methodology, the best state to help boost your retirement savings is Tennessee. The state boasts one of the lowest overall tax burdens in the nation -6.07 %. The state doesn’t have an individual income tax, and retirement savings and Social Security are also not taxed. With living expenses 9.2% below the national average, Tennessee is a cost-effective choice for maximizing retirement savings.

Check out our complete analysis and more of the best states to retire here: 15 Best States to Help You Boost Your Retirement Savings.

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