Discover the Top Retirement Destinations for Alight Employees in 2023: Where to Thrive After Your Career

Healthcare Provider Update: Alight Solutions is partnered with various healthcare providers to support its employee benefits initiatives, with national insurers such as UnitedHealthcare and Cigna frequently featured in their offerings. Alight focuses on delivering customized health plans that cater to the diverse needs of its workforce while emphasizing cost-efficiency and quality of care. As we look ahead to 2026, Alight employees should brace for notable increases in healthcare costs. With projections indicating premiums for Affordable Care Act (ACA) plans could surge by as much as 66% in some states, the impact will be significant. Additionally, the anticipated expiration of enhanced federal subsidies could exacerbate out-of-pocket expenses, with many households potentially facing a chilling 75% rise in monthly premiums. Amidst this landscape, it is crucial for employees to carefully review benefit changes and explore strategies to manage increasing healthcare expenses effectively. Click here to learn more

Regardless of age, profession, and living location, many individuals possess the ultimate goal of retiring comfortably, including those employed in Alight. With that under consideration, it is imperative to acknowledge that retirement does not necessarily have equal value across state lines. One’s state of residency determines their taxes, cost of living, and climate, making some locations more desirable and fitting for retirement to certain Alight employees. In addition, income and purchasing power can have different values in various locations of the country. For the purpose of this article, we will be ranking the top states that are ideal for retirement.

 

For those employed in Alight, spontaneously moving to a different country with desirable characteristics for retirement may seem appealing. Despite that, it is crucial to consider working with a financial advisor to increase your likelihood of success and consolidate a solid financial plan that will cater to your retirement needs. Research suggests people who work with a financial advisor feel more at ease about their finances and could end up with about 15% more money to spend in retirement . ¹  When taking that into account, those working for Alight may benefit from meeting with an advisor at The Retirement Group and running a complimentary cash flow analysis to better understand their future prospects for retirement.

 

Best States for Minimizing Taxes in Retirement

When contemplating a comfortable retirement, those employed in Alight must recognize how reducing tax liability is a top priority. The following states listed below either have no state income tax, no tax on retirement income, or a substantial discount on the taxes levied on retirement income. These states also have no state income tax, and favorable sales, property, inheritance, and estate taxes.

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• Alaska

• Florida

• Georgia

• Mississippi

• Nevada

• South Dakota

• Wyoming

As an employee of Alight , if those states aren’t appealing to you, you may want to consider the subsequent tier of states with reduced taxation. While the tax benefits aren’t up to par with the ones mentioned above, these following states have no taxes on social security income. As an example, Washington has no state income tax but has a 6.5% state sales tax. With that under consideration, while it is essential for Alight employees to look into the pros and cons of taxation when considering retirement in another state, finding a home that is suitable and comfortable for your needs is of utmost importance as well.

• Alabama
• Arkansas

• Colorado

• Delaware

• Idaho

• Illinois

• Kentucky

• Louisiana

• Michigan

• New Hampshire

• Oklahoma

• Pennsylvania

• South Carolina

• Tennessee

• Texas

• Virginia

• Washington

• West Virginia

 

Reference(s):

https://magazine.northeast.aaa.com/daily/money/retirement/the-true-cost-of-a-financial-advisor-revealed/#:~:text=Still%2C%20research%20suggests%20people%20who,an%20advisor%20over%2025%20years .