If you currently live in a high tax state like California, New York, New Jersey, Georgia, or Missouri, if you’ve looked at your paycheck you see a ton of taxes going to the state government. What are the chances you remain in that state at retirement? They’re probably pretty low given that the average person moves almost 12 times during their lifetimes. I suggest taking a look to see if your 401k is tax deductible from your state’s income tax. Most likely it is, and that means you should max your 401k right away if you can afford to. Continue reading “State Taxes Should Make You Want to Max Your 401k”