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The 10 best states for early retirement

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Where to take early retirement

Thinking of retiring early? You might consider moving to one of these 10 states.

Financial advice company SmartAsset named these the best states for those entering retirement early, based on factors including effective income tax rates on people ages 55 to 64, state and local sales taxes, property tax rates and health care costs.

Of course, before you decide to retire early, make sure you've taken all the associated costs into account, said Andrea Blackwelder, certified financial planner and co-founder of Denver-based Wisdom Wealth Strategies. That means everything from health-care expenses to the cost of collecting Social Security early, if that's your intent. (If you take your Social Security benefits before your full retirement age that could reduce your monthly payment by as much as 30 percent for your entire life.)

"Make sure you have a plan for how you're going to spend that extra time," she said — and a plan for how you'll pay for it — before you start packing up any boxes. But if you're ready to make the move, these states may allow you to stretch your savings a little further.

—By CNBC's Fred Imbert
Posted 20 Oct. 2015

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