Retirement Friendly States

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ScubaHogg
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Re: Retirement Friendly States

Post by ScubaHogg » Mon Nov 25, 2019 5:41 pm

I’ve always thought you should think more about areas/regions vs “states.” On most criteria, except maybe state income/property taxes, there is more variance *within* a state than *between* states.

Depending on the metro size you are looking for, I think the US News and World Report’s “Best Places to Live” might be a good starting point.
“There is no problem so bad you can’t make it worse.” - Chris Hatfield, Astronaut mantra

ScubaHogg
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Re: Retirement Friendly States

Post by ScubaHogg » Mon Nov 25, 2019 5:42 pm

RickBoglehead wrote:
Mon Nov 25, 2019 10:38 am
vu8 wrote:
Mon Nov 25, 2019 10:33 am
States with no state income taxes: Washington, Nevada, Texas, Wyoming, South Dakota, Florida and Alaska
Now cross reference that against two criteria. Three of these states have most of their population around only a few cities (Wyoming, South Dakota, and Alaska). Now drop out the ones that have a very hot or very cold climate. Take out rainy and nothing is left. :D

State income taxes aren't everything, just one factor.
Tennessee isn’t that hot or cold. Most of it at least. Memphis can be toasty, Nashville has a very nice balance.
“There is no problem so bad you can’t make it worse.” - Chris Hatfield, Astronaut mantra

ScubaHogg
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Re: Retirement Friendly States

Post by ScubaHogg » Mon Nov 25, 2019 5:43 pm

Glockenspiel wrote:
Mon Nov 25, 2019 11:20 am
Couldn’t pay me to live in almost any of the southeastern states. I’ll be staying in Minnesota, where it’s beautiful, but just cold enough to keep out the riff-raff.

How polite.
“There is no problem so bad you can’t make it worse.” - Chris Hatfield, Astronaut mantra

misterjohnny
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Re: Retirement Friendly States

Post by misterjohnny » Mon Nov 25, 2019 5:43 pm

lws wrote:
Mon Nov 25, 2019 1:17 pm
I worked and retired in California.

I chose in SoCal because:
The weather is good.
Activities are plentiful.
Medical facilities are everywhere.
The people I love are here.
SoCal benefits > low taxes, so I am here also.

Now if the people I love move to a different state, that changes the equation a lot!

cherijoh
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Re: Retirement Friendly States

Post by cherijoh » Mon Nov 25, 2019 5:50 pm

vu8 wrote:
Mon Nov 25, 2019 11:37 am
Best South American countries for retirees: Mexico(High crime rate, fantastic immigration policy), Panama, (Florida), Dominican Republic, Chile (any country with a rentista visa, exclusively designed for relatively wealthy retirees)


Best asia-pacific countries for energetic retirees: Singapore, Hong Kong, Thailand and the Phillippines

High cost, paradise-like but no crime locations: Gated communities of Florida, Key Biscayne Florida, Boca Raton Florida, Naples Florida, Monaco, Iceland, Malta, Cyprus
I know several people who retired to Costa Rica.

Isabelle77
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Re: Retirement Friendly States

Post by Isabelle77 » Mon Nov 25, 2019 6:01 pm

ScubaHogg wrote:
Mon Nov 25, 2019 5:42 pm
RickBoglehead wrote:
Mon Nov 25, 2019 10:38 am
vu8 wrote:
Mon Nov 25, 2019 10:33 am
States with no state income taxes: Washington, Nevada, Texas, Wyoming, South Dakota, Florida and Alaska
Now cross reference that against two criteria. Three of these states have most of their population around only a few cities (Wyoming, South Dakota, and Alaska). Now drop out the ones that have a very hot or very cold climate. Take out rainy and nothing is left. :D

State income taxes aren't everything, just one factor.
Tennessee isn’t that hot or cold. Most of it at least. Memphis can be toasty, Nashville has a very nice balance.
This is entirely subjective. I hated the weather when we lived in Nashville, buggy, hot and humid, cold, or tornado season :) People were nice though!

stan1
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Re: Retirement Friendly States

Post by stan1 » Mon Nov 25, 2019 6:07 pm

Isabelle77 wrote:
Mon Nov 25, 2019 6:01 pm
ScubaHogg wrote:
Mon Nov 25, 2019 5:42 pm
Tennessee isn’t that hot or cold. Most of it at least. Memphis can be toasty, Nashville has a very nice balance.
This is entirely subjective. I hated the weather when we lived in Nashville, buggy, hot and humid, cold, or tornado season :) People were nice though!
Yeah, that was our assessment too. Right in the middle and it gets some of everything, but not enough of anything to really be prepared for it. Ice? Shut everything down we aren't prepared for that. Tornado? Run as fast as you can because it is a surprise. Heavy rain and flooding? Wow, we haven't seen that since last year. Heat? Heavens, it didn't use to be like this.

Still, it is on a short list of places we'd consider moving back to because people are nice and because there is a lot of economic opportunity in the city. Maybe the two are related?

chw
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Re: Retirement Friendly States

Post by chw » Mon Nov 25, 2019 6:23 pm

LiveSimple wrote:
Mon Nov 25, 2019 10:07 am
Retirement Friendly States

Folks which states you choose for your retirement and what were the major decisions point for your choosing the state.

Due to retirement income, tax treatment
Due to weather or sue to family and friend
Due to the activities.

As we are thinking on these lines, do want to hear who had the experience or in the planning.
Considerations were mainly 2&3 above. In addition, since DW and I were under 65 by several years, access to affordable, quality healthcare was a consideration. We live in MA, which we were fairly confident would continue with a public healthcare enrollment option if ACA was rolled back in some way.

We live in an area with a high concentration of retirees, and a robust year round activity calendar, which has been a great way to ease into retirement. We did move shortly after retiring to this community, as we both recognized several years before retiring that we did not want to age in place in our old community. While the old neighborhood was a great place to raise a family, activities, entertainment options, and the age demographic of people like us were limited.

livesoft
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Re: Retirement Friendly States

Post by livesoft » Mon Nov 25, 2019 6:28 pm

bengal22 wrote:
Mon Nov 25, 2019 2:29 pm
When I drive others wave at me and some honk.
I'm laughing at that. I'm sure people wave and honk at lots of drivers in New York, Massachusetts, and all other states as well. :twisted:
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fposte
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Re: Retirement Friendly States

Post by fposte » Mon Nov 25, 2019 6:35 pm

livesoft wrote:
Mon Nov 25, 2019 6:28 pm
bengal22 wrote:
Mon Nov 25, 2019 2:29 pm
When I drive others wave at me and some honk.
I'm laughing at that. I'm sure people wave and honk at lots of drivers in New York, Massachusetts, and all other states as well. :twisted:
I believe bengal was referring to a special welcoming gesture when he said "they make you feel your number one." :D

mathwhiz
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Re: Retirement Friendly States

Post by mathwhiz » Mon Nov 25, 2019 7:19 pm

Florida is of course hot and humid but there are parts of north Florida with a more temperate climate such as Jacksonville and St. Augustine. This part of the state also rarely experience direct hits from hurricanes and has never experienced a major hurricane in recorded history because the inward slope of the coastline makes the angle very difficult for a direct hit.

Blue456
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Re: Retirement Friendly States

Post by Blue456 » Mon Nov 25, 2019 7:21 pm

Jack FFR1846 wrote:
Mon Nov 25, 2019 10:19 am
Depends.

There are states that are very tax friendly that you couldn't pay me to live in.

I'll be staying in Massachusetts.
And for me it is the other way around. I spent 9 years in New England and I wouldn’t move there even if you paid me to live there.

ChrisC
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Re: Retirement Friendly States

Post by ChrisC » Mon Nov 25, 2019 7:40 pm

Glockenspiel wrote:
Mon Nov 25, 2019 11:20 am
Couldn’t pay me to live in almost any of the southeastern states. I’ll be staying in Minnesota, where it’s beautiful, but just cold enough to keep out the riff-raff.
Bless your heart for staying in MN. :beer

IMO
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Re: Retirement Friendly States

Post by IMO » Mon Nov 25, 2019 7:55 pm

lws wrote:
Mon Nov 25, 2019 1:17 pm
I worked and retired in California.

I chose in SoCal because:
The weather is good.
Activities are plentiful.
Medical facilities are everywhere.
The people I love are here.
Ironically CA gets labeled as a very high tax state. This is true, when your working. However, due to prop 13, I know many people that have homes appreciate significantly over the years and despite having a highly appreciated home, they have relatively very low taxes. If one has such a home, has other assets/pension/social security to pay for living expensive outside of one's home, it's actually pretty tax friendly. So much so that I often tell people that if you don't need to sell your home for financial reasons, then it really may just make more sense to stay put. You have good weather, a good choice of activities, medical care and you have your friends/family still living there (oh you already said that). Sure traffic is a pain, but it's different being retired vs. working and commuting daily .

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joe8d
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Re: Retirement Friendly States

Post by joe8d » Mon Nov 25, 2019 9:46 pm

vu8 wrote:
Mon Nov 25, 2019 10:33 am
States with no state income taxes: Washington, Nevada, Texas, Wyoming, South Dakota, Florida and Alaska
People primarily on SS may not pay any income taxes, State or Fed.No state tax states may benefit high income working individuals who feel they will come ahead after paying for private schools etc areas that these states are lax in.
All the Best, | Joe

bhsince87
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Re: Retirement Friendly States

Post by bhsince87 » Mon Nov 25, 2019 10:33 pm

I've studied this topic extensively as I approached retirement (early!) age.

My conclusion: there is no one-size-fits-all solution.

The zero income tax states can be great when you are working and making big bucks.

But they tend to replace income taxes with consumption taxes and fees, which can hit retirees harder.

They can also be lacking in elderly services and lower cost healthcare benefits.

Plus many people consider things like climate, access to quality healthcare, education, entertainment, nature, city life, and other "lifestyle" features to be more important than cost of living.
"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace." Samuel Adams

IMO
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Re: Retirement Friendly States

Post by IMO » Mon Nov 25, 2019 10:42 pm

bhsince87 wrote:
Mon Nov 25, 2019 10:33 pm
I've studied this topic extensively as I approached retirement (early!) age.

My conclusion: there is no one-size-fits-all solution.

The zero income tax states can be great when you are working and making big bucks.

But they tend to replace income taxes with consumption taxes and fees, which can hit retirees harder.

They can also be lacking in elderly services and lower cost healthcare benefits.

Plus many people consider things like climate, access to quality healthcare, education, entertainment, nature, city life, and other "lifestyle" features to be more important than cost of living.
Right, otherwise people would be flocking to move to the absolute lowest cost of living city/town in the country. Not sure where that is, but I suspect it's not the most pleasant place to live.

Edit: And anyone failing to move to that place is making a quality of life decision with cost involved.

friar1610
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Re: Retirement Friendly States

Post by friar1610 » Mon Nov 25, 2019 11:13 pm

vu8 wrote:
Mon Nov 25, 2019 11:37 am
Best South American countries for retirees: Mexico(High crime rate, fantastic immigration policy), Panama, (Florida), Dominican Republic, Chile (any country with a rentista visa, exclusively designed for relatively wealthy retirees)


Best asia-pacific countries for energetic retirees: Singapore, Hong Kong, Thailand and the Phillippines

High cost, paradise-like but no crime locations: Gated communities of Florida, Key Biscayne Florida, Boca Raton Florida, Naples Florida, Monaco,Iceland, Malta, Cyprus
I recently took an admittedly short trip to Iceland and enjoyed the visit very much. But I never got the vibe of a retirement paradise like I have in places like Costa Rica, New Zealand, Spain, Portugal, etc. Are there really gated communities for retirees there?

ETA: I did find a lengthy study/report that ranked Iceland #1 in the world by Global Retirement Index (GRI) score (USA was #18).But I'm pretty sure this study is scoring for residents of the countries being scored, not for expatriates. Haven't delved into it but it looks like interesting reading. https://www.im.natixis.com/us/resources ... 019-report
Last edited by friar1610 on Mon Nov 25, 2019 11:38 pm, edited 1 time in total.
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Silence Dogood
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Re: Retirement Friendly States

Post by Silence Dogood » Mon Nov 25, 2019 11:29 pm

Probably whichever state your family and friends are living in.

Small Savanna
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Re: Retirement Friendly States

Post by Small Savanna » Mon Nov 25, 2019 11:36 pm

We moved to the Atlanta area for work, not specifically for retirement, but discovered that Georgia gives favorable treatment to retirement income. Social security is not taxed and people over 65 get a $65K exemption for other retirement income ($130K for a couple) so we expect that our state income tax burden will be very low when we get to that age. Our county also provides a generous property tax break to seniors.

Other factors: The cost of living isn't cheap by national standards, but is more affordable than California, NY, or the DC area where we moved from. Atlanta is a big enough city that there are things to do. The ocean and the mountains are both close enough for a weekend trip. Winters are mild and summers are actually no worse than DC. When we retire I expect we will spend July and/or August on the lake up north, and go someplace warm for a few weeks in the winter. The wild card is that we don't know where our kids will end up settling down, but it will probably be a direct flight from the world's busiest airport.

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Watty
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Re: Retirement Friendly States

Post by Watty » Mon Nov 25, 2019 11:45 pm

Retirement Friendly States
That is way too general a question. Taxes somewhere can be a lot different for someone that is middle class than for someone that has high income.

Likewise most states have a lot of different areas that may vary from urban to rural and from beach to mountain.

3504PIR
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Re: Retirement Friendly States

Post by 3504PIR » Mon Nov 25, 2019 11:57 pm

Glockenspiel wrote:
Mon Nov 25, 2019 11:20 am
Couldn’t pay me to live in almost any of the southeastern states. I’ll be staying in Minnesota, where it’s beautiful, but just cold enough to keep out the riff-raff.
Probably just as well, bless your heart.

StealthRabbit
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Re: Retirement Friendly States

Post by StealthRabbit » Tue Nov 26, 2019 12:07 am

Very much depends on your retirement criteria.
Certainly NOT limited to Taxes or Cost of Living. quick and easy map for taxes, BUT, your taxes may vary according to your situatiojn / location in that state) https://smartasset.com/retirement/retirement-taxes
More important is a sustainable lifestyle / aging in place (moves are not cheap, and eventually not even possible)

Family?
Climate?
Active?
Travel? (internationally or to National Parks?)
Water / snow / hiking / photo / cycling Sports?
Need medical? (Veterans benefits?)

There are a lot of states with 'fair' senior living rates (CoL + Taxes + HC + Property tax benefits for seniors) NE, KS, MN would not be including in that list.

CA is probably best (if you have prop 13 status from LT properties). Coronado is pretty nice. We frequently stay in a guest home walking distance to Airport / downtown. It too is quite nice (but noisy).

I chose WA State for my earning yrs and expected to retire back to WY. AT age 49 retirement (my 3rd) I did a 'weighted' Spreadsheet including several lower tax states and I ended up staying in WA during this season of retirement. Largely due to the convenience at the moment of living peacefully in the boonies in a National Scenic Area, but having an international airport & 25 colleges for activities / free concerts and presentations, / metro area <30 min away. All the medical I'll ever need. (I do have my application all filled out for WY Pioneer home on the site of Thermopolis State Hot Springs, in case I need SNF, such as not returning from my daily racing motorcycle jaunt. )

WY failed due to housing equity risk and commute to international airport.
SD will likely be my LT domicile if they ever issue Enhanced DL and port clearance for CDL holders. I am never in one place long enough to trigger Residency.

Thousands of my co-workers in OR, WA, CO, ID, and CA kept their CA Prop 13 property taxes and retired back to CA. (good idea, as my WA property taxes indexed from <$3 / day to $43/ day due to CA equity inflow to WA. I have the Same property, now just more worn out (and unaffordable taxes).

Lots of ideas / threads here (selecting best place to retire)
There is even a very helpful 'retirement search checklist' if you can find it (no wiki or sticky) (user LauraC author)
http://www.city-data.com/forum/retirement/

International there are many great destinations,

My short list is Equador, Columbia, Thailand, Malaysia (these accept USA Medical / HC refugees with proven (low) income)
I would prefer Italy or Spain in mtns. (also possible choices).

Have lived in Singapore (too expensive), Australia, Canada, Spain, Switzerland, Thailand, Malaysia. Spent many months in Japan, China, Taiwan, France, Portugal. I would live in any of these, but probably forego China!

MathIsMyWayr
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Re: Retirement Friendly States

Post by MathIsMyWayr » Tue Nov 26, 2019 2:09 am

Jack FFR1846 wrote:
Mon Nov 25, 2019 10:19 am
Depends.

There are states that are very tax friendly that you couldn't pay me to live in.

I'll be staying in Massachusetts.
26 miles, 385 yards west of Copley Square : Hopkinton?

MathIsMyWayr
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Re: Retirement Friendly States

Post by MathIsMyWayr » Tue Nov 26, 2019 2:38 am

IMO wrote:
Mon Nov 25, 2019 7:55 pm
lws wrote:
Mon Nov 25, 2019 1:17 pm
I worked and retired in California.

I chose in SoCal because:
The weather is good.
Activities are plentiful.
Medical facilities are everywhere.
The people I love are here.
Ironically CA gets labeled as a very high tax state. This is true, when your working. However, due to prop 13, I know many people that have homes appreciate significantly over the years and despite having a highly appreciated home, they have relatively very low taxes. If one has such a home, has other assets/pension/social security to pay for living expensive outside of one's home, it's actually pretty tax friendly. So much so that I often tell people that if you don't need to sell your home for financial reasons, then it really may just make more sense to stay put. You have good weather, a good choice of activities, medical care and you have your friends/family still living there (oh you already said that). Sure traffic is a pain, but it's different being retired vs. working and commuting daily .
+1
Imagination is often much worse that reality.
SoCal (Orange and San Diego Counties) is the best place for retirees.

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LiveSimple
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Re: Retirement Friendly States

Post by LiveSimple » Tue Nov 26, 2019 3:39 am

Appreciate all the input, so there are many factors and there are many states to consider.

Mr. Rumples
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Re: Retirement Friendly States

Post by Mr. Rumples » Tue Nov 26, 2019 7:10 am

On sperlings.com you can research cities on criteria like taxes, cost of living, crime and so forth.

https://www.city-data.com/forum/ is another resource.

I am somewhat amazed when I see some news articles touting this and that location. Denver as #2? I really like Denver, and we moved to the Front Range when we retired, but the cost of housing and the failure to keep up with transportation demands is unreal. Another magazine touts Williamsburg, VA as a great place. That surly isn't based on someone living there in the summer and dealing with traffic or having a medical condition that requires more than basic care (in which case you have to go to Richmond - just try to find parking at the Medical College of Va. - or Newport News). If I were to move west again, I'd take a good look at Boise, ID.

(On the other hand, on the Front Range, including Denver, they handle the snow well. Most of the plows have tracking devices on them so you can see where they are and get a general idea of when your street will be cleared.)

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JoeRetire
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Re: Retirement Friendly States

Post by JoeRetire » Tue Nov 26, 2019 7:29 am

bhsince87 wrote:
Mon Nov 25, 2019 10:33 pm
I've studied this topic extensively as I approached retirement (early!) age.

My conclusion: there is no one-size-fits-all solution.
I didn't study this topic at all, but came to the same conclusion.
It's the end of the world as we know it. | It's the end of the world as we know it. | It's the end of the world as we know it. | And I feel fine.

Mr. Rumples
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Re: Retirement Friendly States

Post by Mr. Rumples » Tue Nov 26, 2019 7:43 am

LiveSimple wrote:
Mon Nov 25, 2019 10:07 am
Retirement Friendly States

Folks which states you choose for your retirement and what were the major decisions point for your choosing the state.

Due to retirement income, tax treatment
Due to weather or sue to family and friend
Due to the activities.

As we are thinking on these lines, do want to hear who had the experience or in the planning.
I did not think my husband would pass away at such a young age and so close after retirement. We were together over 40 years (we use to like to say we had the longest engagement in history) and after his death, I moved back east to be with our family. Don't forget to look at those resources. I have only to make a call and I have help. We made many friends in Colorado, but frankly we were the youngest. Some are now wondering who will look after them.

Activities are great, but as one ages, you are less able to do them.

ScubaHogg
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Re: Retirement Friendly States

Post by ScubaHogg » Tue Nov 26, 2019 8:02 am

Isabelle77 wrote:
Mon Nov 25, 2019 6:01 pm
ScubaHogg wrote:
Mon Nov 25, 2019 5:42 pm
RickBoglehead wrote:
Mon Nov 25, 2019 10:38 am
vu8 wrote:
Mon Nov 25, 2019 10:33 am
States with no state income taxes: Washington, Nevada, Texas, Wyoming, South Dakota, Florida and Alaska
Now cross reference that against two criteria. Three of these states have most of their population around only a few cities (Wyoming, South Dakota, and Alaska). Now drop out the ones that have a very hot or very cold climate. Take out rainy and nothing is left. :D

State income taxes aren't everything, just one factor.
Tennessee isn’t that hot or cold. Most of it at least. Memphis can be toasty, Nashville has a very nice balance.
This is entirely subjective. I hated the weather when we lived in Nashville, buggy, hot and humid, cold, or tornado season :) People were nice though!
Humid and hot is definitely subjective. No “right” answer. But it’s quite a bit cooler than Florida in the summer (I’ve lived in both—it’s not close) and definitely warmer than the Midwest/northeast in the winter.

Tornados are an overblown threat. The odds of getting hit by one are borderline zero, especially if you aren’t in very particular areas not in tornado alley, which Nashville is not. I’d probably be more worried about getting hit by lightening, but I’m not worried about that either.
“There is no problem so bad you can’t make it worse.” - Chris Hatfield, Astronaut mantra

Wannaretireearly
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Re: Retirement Friendly States

Post by Wannaretireearly » Tue Nov 26, 2019 8:18 am

susa wrote:
Mon Nov 25, 2019 10:23 am
Outside the States, several places. All you need is dual passport and you even get almost free healthcare with world class doctors/nurses.
Ha. +1. But will get screwed somehow with taxes...

This is turning into a great thread.
I'm planning to keep my NorCal house forever. Has a ground floor setup with multiple rooms and bathrooms and space for wheel chair access if/when needed. If any of you have looked after elderly/aging/sick folks you know (or learn) to plan for this early....

1 My dream retirement has me based in NorCal and then bounce/rent wherever else I need to. UK passport gives me access to healthcare options and Europe.

2. My lottery retirement would probably get me a place in Santa Barbera. Love that place.

3. My tax friendly retirement could push me go get a place in Florida. Gulf coast is great or Fort Laudersale and other coastal spots. Need a property downturn to even consider. Even then this could be more hassle than it's worth and stick to #1. Owning property has a lot of downsides...
Last edited by Wannaretireearly on Tue Nov 26, 2019 8:41 am, edited 1 time in total.
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tigermilk
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Re: Retirement Friendly States

Post by tigermilk » Tue Nov 26, 2019 8:28 am

WildBill wrote:
Mon Nov 25, 2019 12:36 pm
Howdy

Texas as a residence state.
While we have no income tax, the high property tax rate is a real drain on income. My MIL is retired, and her biggest expense each year is when the property tax man cometh. She recently moved from the Austin area closer to us in the Houston area, and it was a challenge finding a one story in an area that didn't flood, close to us, in her price range, and not high taxes. Many areas near us are over 3% tax rate.

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HueyLD
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Re: Retirement Friendly States

Post by HueyLD » Tue Nov 26, 2019 8:30 am

JoeRetire wrote:
Tue Nov 26, 2019 7:29 am
bhsince87 wrote:
Mon Nov 25, 2019 10:33 pm
I've studied this topic extensively as I approached retirement (early!) age.

My conclusion: there is no one-size-fits-all solution.
I didn't study this topic at all, but came to the same conclusion.
+1 indeed. One man's trash is another man's treasure.

StandingRock
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Re: Retirement Friendly States

Post by StandingRock » Tue Nov 26, 2019 8:33 am

Silence Dogood wrote:
Mon Nov 25, 2019 11:29 pm
Probably whichever state your family and friends are living in.
Pretty much this. Online people tend to be strange and weird, and probably don't have many family or friends though.

vested1
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Re: Retirement Friendly States

Post by vested1 » Tue Nov 26, 2019 8:39 am

My wife and I lived 66 years in the same location in California that enjoys great scenery and weather. We looked for a retirement home in a different State for about 2 decades before finding exactly where we wanted to relocate. But why move? Because the activities we enjoyed the most were hundreds of miles away through bone crushing traffic. Luckily, owning a home long term in California, then selling it, gives you more options than most have.

We read every article and book, visited every prospective location, and finally realized that saving money on taxes and gas wasn't our first priority. Why should we move somewhere in order to save money we didn't really need, and be miserable the rest of our lives while counting it?

Our main goal was to live on a lake near good health care and shopping, while avoiding the traffic nightmare of where we came from. We sold our home in California and realized enough to make the move, buy a lake house in a community with it's own golf course in South Carolina, furnish the house which is twice as large as the one we sold, with enough left over to buy two new boats. We love baseball and were happy to find that there is a minor league team close by. Our new town is rural in nature, yet a regular venue for top name performers in concert.

Our health care options are much better here, as is the traffic. Gas is about $1.50 less a gallon and property taxes, even though we had prop 13 in Ca, is 1/3 of what it was there. We can walk out to our covered dock and go fishing anytime we want. We fish for bass, crappie, stripers, and catfish on our lake, but can drive 50 minutes one way to a pristine alpine lake that holds the State record trout, or 50 minutes in the other direction for world class theater and the best shopping imaginable. Getting to grocery/decent shopping where we came from took about 20 minutes to go about 3 miles. Where we are now we have better shopping at 10 miles, but still 20 minutes because there is no traffic.

Those who worry about fitting in with a different culture, both politically and socially, should put those fears to rest. People are pretty much the same everywhere you go, and believe it or not, have pretty much the same concerns and values. There will always be outliers where ever you go who insist on being jerks, so just ignore them and live your life, giving back whenever you can. If you're unhappy now, changing locations is likely not going to fix that.

Life is an adventure, but only if you allow it to be. Friends and family thought we were crazy to move. Now they can't wait to visit.

gold99xx
Posts: 88
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Re: Retirement Friendly States

Post by gold99xx » Tue Nov 26, 2019 8:40 am

Hello, I currently line in NYC ( VHCOL) and have been here all of my life. I am ready for a change and am actually looking at some properties in Kentucky and Tennessee next week. I am also considering Arizona, Wyoming, Montana, and Idaho. I love the outdoors, hiking and Horses. Does anybody have any advice or experience relocating to any of these places? Also MUCH lower taxes in these areas... I think between city and state I am at almost 11% taxes. Plus FED.

Thank you

Jack FFR1846
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Location: 26 miles, 385 yards west of Copley Square

Re: Retirement Friendly States

Post by Jack FFR1846 » Tue Nov 26, 2019 8:57 am

MathIsMyWayr wrote:
Tue Nov 26, 2019 2:09 am
26 miles, 385 yards west of Copley Square : Hopkinton?
Exactly!
Bogle: Smart Beta is stupid

Jack FFR1846
Posts: 12092
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Location: 26 miles, 385 yards west of Copley Square

Re: Retirement Friendly States

Post by Jack FFR1846 » Tue Nov 26, 2019 9:04 am

gold99xx wrote:
Tue Nov 26, 2019 8:40 am
Hello, I currently line in NYC ( VHCOL) and have been here all of my life. I am ready for a change and am actually looking at some properties in Kentucky and Tennessee next week. I am also considering Arizona, Wyoming, Montana, and Idaho. I love the outdoors, hiking and Horses. Does anybody have any advice or experience relocating to any of these places? Also MUCH lower taxes in these areas... I think between city and state I am at almost 11% taxes. Plus FED.

Thank you
Take a vacation for a week in any place you're considering. Everywhere is different from NYC. Weather is vastly different in the list you've made. That could be a plus or a minus, depending on what you want.

According to this list, NY has the highest total tax burden of all the states (no surprise). Surprisingly, Massachusetts (Taxachusetts to some) is 19th, behind Mississippi and Arkansas, mainly from sales and exise (personal property) taxes.

https://wallethub.com/edu/states-with-h ... den/20494/
Bogle: Smart Beta is stupid

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RickBoglehead
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Re: Retirement Friendly States

Post by RickBoglehead » Tue Nov 26, 2019 9:07 am

gold99xx wrote:
Tue Nov 26, 2019 8:40 am
Hello, I currently line in NYC ( VHCOL) and have been here all of my life. I am ready for a change and am actually looking at some properties in Kentucky and Tennessee next week. I am also considering Arizona, Wyoming, Montana, and Idaho. I love the outdoors, hiking and Horses. Does anybody have any advice or experience relocating to any of these places? Also MUCH lower taxes in these areas... I think between city and state I am at almost 11% taxes. Plus FED.

Thank you
Use the links that I and others have provided to see the different factors you may want to consider.

One thing to also consider is demographics, i.e. the makeup of the area. Without going near politics, you're going to find a vast difference between NYC and Wyoming, Montana, and especially Idaho.
Silence Dogood wrote:
Mon Nov 25, 2019 11:29 pm
Probably whichever state your family and friends are living in.
Just remember that they can move...

Our sons are in CA and FL. We have no interest in living in either state, but my wife said she wanted to live near one of them. After I pointed out the fallacy of that train of thought, one son said "we'd like to relocate to Michigan at some point", making my argument for me.

Go where YOU are most happiest, considering the factors important to YOU. And remember that things can change - people move, taxes go up or down, climate changes, neighbor sells and rock band moves in next door...
Avid user of forums on variety of interests-financial, home brewing, F-150, PHEV, home repair, etc. Enjoy learning & passing on knowledge. It's PRINCIPAL, not PRINCIPLE. I ADVISE you to seek ADVICE.

mrmass
Posts: 306
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Re: Retirement Friendly States

Post by mrmass » Tue Nov 26, 2019 9:10 am

vested1 wrote:
Tue Nov 26, 2019 8:39 am
My wife and I lived 66 years in the same location in California that enjoys great scenery and weather. We looked for a retirement home in a different State for about 2 decades before finding exactly where we wanted to relocate. But why move? Because the activities we enjoyed the most were hundreds of miles away through bone crushing traffic. Luckily, owning a home long term in California, then selling it, gives you more options than most have.

We read every article and book, visited every prospective location, and finally realized that saving money on taxes and gas wasn't our first priority. Why should we move somewhere in order to save money we didn't really need, and be miserable the rest of our lives while counting it?

Our main goal was to live on a lake near good health care and shopping, while avoiding the traffic nightmare of where we came from. We sold our home in California and realized enough to make the move, buy a lake house in a community with it's own golf course in South Carolina, furnish the house which is twice as large as the one we sold, with enough left over to buy two new boats. We love baseball and were happy to find that there is a minor league team close by. Our new town is rural in nature, yet a regular venue for top name performers in concert.

Our health care options are much better here, as is the traffic. Gas is about $1.50 less a gallon and property taxes, even though we had prop 13 in Ca, is 1/3 of what it was there. We can walk out to our covered dock and go fishing anytime we want. We fish for bass, crappie, stripers, and catfish on our lake, but can drive 50 minutes one way to a pristine alpine lake that holds the State record trout, or 50 minutes in the other direction for world class theater and the best shopping imaginable. Getting to grocery/decent shopping where we came from took about 20 minutes to go about 3 miles. Where we are now we have better shopping at 10 miles, but still 20 minutes because there is no traffic.

Those who worry about fitting in with a different culture, both politically and socially, should put those fears to rest. People are pretty much the same everywhere you go, and believe it or not, have pretty much the same concerns and values. There will always be outliers where ever you go who insist on being jerks, so just ignore them and live your life, giving back whenever you can. If you're unhappy now, changing locations is likely not going to fix that.

Life is an adventure, but only if you allow it to be. Friends and family thought we were crazy to move. Now they can't wait to visit.
Nicely put. I like your outlook.

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jhfenton
Posts: 4635
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Location: Ohio

Re: Retirement Friendly States

Post by jhfenton » Tue Nov 26, 2019 9:18 am

Jack FFR1846 wrote:
Tue Nov 26, 2019 8:57 am
MathIsMyWayr wrote:
Tue Nov 26, 2019 2:09 am
26 miles, 385 yards west of Copley Square : Hopkinton?
Exactly!
I'll be paying you another visit in April. :beer

We live in Cincinnati--and I like it--but I would like to move west in retirement (but not to a coastal state).

Money Market
Posts: 159
Joined: Thu Mar 16, 2017 10:36 am

Re: Retirement Friendly States

Post by Money Market » Tue Nov 26, 2019 9:27 am

RickBoglehead wrote:
Mon Nov 25, 2019 10:27 am
There are clearly states that are not retirement friendly including New Jersey, New York, Massachusetts, Vermont, and more.
What's wrong with retiring in those states? I understand some of them have high state taxes and/or state-level estate taxes with low exemptions. I've been in my CA shell my whole (young) life!

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bengal22
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Re: Retirement Friendly States

Post by bengal22 » Tue Nov 26, 2019 9:35 am

fposte wrote:
Mon Nov 25, 2019 6:35 pm
livesoft wrote:
Mon Nov 25, 2019 6:28 pm
bengal22 wrote:
Mon Nov 25, 2019 2:29 pm
When I drive others wave at me and some honk.
I'm laughing at that. I'm sure people wave and honk at lots of drivers in New York, Massachusetts, and all other states as well. :twisted:
I believe bengal was referring to a special welcoming gesture when he said "they make you feel your number one." :D
Tried to be subtle.
"Earn All You Can; Give All You Can; Save All You Can." .... John Wesley

Dave55
Posts: 714
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Re: Retirement Friendly States

Post by Dave55 » Tue Nov 26, 2019 9:36 am

Money Market wrote:
Tue Nov 26, 2019 9:27 am
RickBoglehead wrote:
Mon Nov 25, 2019 10:27 am
There are clearly states that are not retirement friendly including New Jersey, New York, Massachusetts, Vermont, and more.
What's wrong with retiring in those states? I understand some of them have high state taxes and/or state-level estate taxes with low exemptions. I've been in my CA shell my whole (young) life!
Taxes are high in those states.


Dave

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JoeRetire
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Re: Retirement Friendly States

Post by JoeRetire » Tue Nov 26, 2019 9:49 am

If your definition of "Retirement Friendly" is only "low taxes", then it's pretty easy to choose. A single table of tax rates would probably suffice.

If, like most people, you really mean "the kind of place I would prefer to live in during my retirement", then there are far more important factors than just taxes.

Personally I find those click-bait "The best places to retire" articles virtually worthless. Your mileage may vary.
It's the end of the world as we know it. | It's the end of the world as we know it. | It's the end of the world as we know it. | And I feel fine.

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TomatoTomahto
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Re: Retirement Friendly States

Post by TomatoTomahto » Tue Nov 26, 2019 9:55 am

ScubaHogg wrote:
Tue Nov 26, 2019 8:02 am
Tornados are an overblown threat.
😆 I see what you did there.
Okay, I get it; I won't be political or controversial. The Earth is flat.

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TomatoTomahto
Posts: 10646
Joined: Mon Apr 11, 2011 1:48 pm

Re: Retirement Friendly States

Post by TomatoTomahto » Tue Nov 26, 2019 10:02 am

Money Market wrote:
Tue Nov 26, 2019 9:27 am
RickBoglehead wrote:
Mon Nov 25, 2019 10:27 am
There are clearly states that are not retirement friendly including New Jersey, New York, Massachusetts, Vermont, and more.
What's wrong with retiring in those states? I understand some of them have high state taxes and/or state-level estate taxes with low exemptions. I've been in my CA shell my whole (young) life!
We recently moved to MA. The taxes are high-ish, but not when your comparison is NY-NJ. The estate taxes are hell. Still, I love it here (close to where @Jack FFR1846 lives), and I think of it as our retirement home (I’m retired; wife is employed).
Okay, I get it; I won't be political or controversial. The Earth is flat.

Sconie
Posts: 897
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Location: Arizona

Re: Retirement Friendly States

Post by Sconie » Tue Nov 26, 2019 10:03 am

almostretired1965 wrote:
Mon Nov 25, 2019 4:08 pm
Moved to Washington state, just outside of Seattle, and we are likely to stay here for retirement, though possibly moving further south to Vancouver, WA near Portland.

Advantages:

1. Taxes. No federal income tax. Overall the state/local tax structure here is somewhat regressive (e.g. 10% sales tax), in my assessment, so that helps anyone with high current/expected income. (Note that this is not a comment about whether it is good public policy.)
Don't you mean no state income tax???
I know you think you understand what you thought I said but I'm not sure you realize that what you heard is not what I meant. - Alan Greenspan

EddyB
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Re: Retirement Friendly States

Post by EddyB » Tue Nov 26, 2019 10:26 am

StandingRock wrote:
Tue Nov 26, 2019 8:33 am
Silence Dogood wrote:
Mon Nov 25, 2019 11:29 pm
Probably whichever state your family and friends are living in.
Pretty much this. Online people tend to be strange and weird, and probably don't have many family or friends though.
With family spread across four states (two of which we (separately) left 20 years ago, for good reasons) and most friends in two others, there’s no compelling argument to pick one of them for that reason. Not sure that’s what makes us strange (or weird). Also, the experience of having thrice as adults moved to new locations, made friends and more-or-less gone on with life may make us more willing than some others to try that a couple more times.

ScubaHogg
Posts: 541
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Re: Retirement Friendly States

Post by ScubaHogg » Tue Nov 26, 2019 10:41 am

TomatoTomahto wrote:
Tue Nov 26, 2019 9:55 am
ScubaHogg wrote:
Tue Nov 26, 2019 8:02 am
Tornados are an overblown threat.
😆 I see what you did there.
I wish I could say I did it on purpose! :oops:
“There is no problem so bad you can’t make it worse.” - Chris Hatfield, Astronaut mantra

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