Hi Larry,
Due to my poor health, I plan on taking my social security at age 62 (my DOB: 03/24/1965)
If I moved to a state that does not tax my social security and has a lower cost of living, will what
I received from Social Security change as I move from California to another state.

What states are best for retiring on a low income.
Thanks, trying to plan this wisely

Janet

Hi Janet,

My expertise is limited to Social Security benefits, so I can't tell you which states are best to retire in for a person with a low income. What I can tell you is that Social Security is a federal program, and your state of residence is irrelevant in determining the amount of your Social Security benefit.

If you are in poor health and you have stopped working or you are earning less than $1220 per month, you may want to consider filing for Social Security disability (SSDI) benefits (https://www.ssa.gov/planners/disability/). If you qualify for SSDI, you could draw what is essentially your full retirement age (FRA) Social Security benefit regardless of how long prior to FRA you become entitled to SSDI. If you don't qualify for SSDI and you start drawing your Social Security retirement benefits at age 62, you'll receive a benefit rate of 25% to 30% less than your FRA rate.

Best, Jerry