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Old 12-05-2007, 06:00 PM
 
Location: Teton Valley Idaho
7,395 posts, read 13,096,282 times
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We're also not experiencing the population growth and sprawl that NH is in some of it's areas, we have little crime, good health care for seniors, and supportive communities.
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Old 12-05-2007, 06:10 PM
 
Location: Maine
5,054 posts, read 12,418,445 times
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Quote:
Originally Posted by mollysmiles View Post
We're also not experiencing the population growth and sprawl that NH is in some of it's areas, we have little crime, good health care for seniors, and supportive communities.
Reason #4,338 to move to Maine!
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Old 12-05-2007, 06:25 PM
 
Location: Northern Maine
10,428 posts, read 18,673,204 times
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Sportsmen love Maine. Whether you fish, hunt, canoe, camp, ski, golf or ride your motorcycle, Maine has the best experience in those sports. In addition you can walk anywhere safely. Our winter sports are second to none. I own five pairs of snowshoes so I have the right pair for whatever snow conditions we have. Today it's deep powder. I'm old enough to retire, but I'll work as long as I'm able. I like my work. My grandfather was splitting wood at 92.
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Old 12-05-2007, 07:31 PM
 
Location: Forests of Maine
37,441 posts, read 61,352,754 times
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Quote:
Originally Posted by TootsieWootsie View Post
It seems to me if a retiree has more than $18,250 in earnings a year that they would choose New Hampshire or another State that would not tax them at 8.5%, which is where the tax rate lands when you earn over the $18,250 in salary or investment earnings from those stocks. Yet tons of retirees are moving to Maine. Are they living on SS and pensions? Do they have no earnings from their investments to tax?
So exactly why are so many retirees choosing Maine over their neighbor New Hampshire I wonder? Anyone have any insight on this subject?
Just because you have a bracket set at a level does not mean that folks are paying taxes at that point. You have to subtract your exemptions and standard deductions first.

I am not going to look it up right now, but try this. If your exemptions add to $6k and your standard deductions add to $10k, then you have to earn $16k before you can even consider paying state taxes. And even then you start at the lowest bracket. To get up to 8.5% you need to earn another additional $18k on top of your first $16k.

I itemize my taxes so I keep my AGI low. Often very near zero or a negative number. So I am not going to pay the highest tax bracket.

Retirees [like me] tend to earn less than we did when we were working.

I do receive a pension. It comes from the Federal government.

I do have earnings from my investment portfolio. However those earnings are fully sheltered. So I am not paying taxes on them anyway.

"So exactly why are so many retirees choosing Maine over ..."

Lower taxes.

Lower cost-of-living.

Much higher standard of living.

Cleaner environment.

Abundant wildlife.

Rural surroundings.

May God bless you
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Old 12-05-2007, 07:33 PM
 
Location: Forests of Maine
37,441 posts, read 61,352,754 times
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Quote:
Originally Posted by TootsieWootsie View Post
Parrotpaul: If you go to retirementliving.com and click on Taxes by State, you can find any tax information about any State you wish. FYI.
Which is horribly easy to misconstrue without an education on finance.

Which I highly recommend that anyone get when considering earning money and investing.

When you set down to play Monopoly, you will do better if you first read the game's rules.
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Old 12-06-2007, 09:24 AM
 
Location: Log "cabin" west of Bangor
7,058 posts, read 9,074,602 times
Reputation: 15634
Quote:
Originally Posted by Northern Maine Land Man View Post
Sportsmen love Maine. Whether you fish, hunt, canoe, camp, ski, golf or ride your motorcycle, Maine has the best experience in those sports. In addition you can walk anywhere safely. Our winter sports are second to none. I own five pairs of snowshoes so I have the right pair for whatever snow conditions we have. Today it's deep powder. I'm old enough to retire, but I'll work as long as I'm able. I like my work. My grandfather was splitting wood at 92.
I looked at a property in Plymouth with two houses. It was being sold by a woman who was somewhere in her 60s or 70s (hard to tell just how old she was and I didn't ask, but she was retired). She had done most of the work building the houses herself, was still cutting and splitting her own wood, and was building and selling post-and-beam sheds for extra money.

When I asked her why she was selling, she said it was because it was getting too populated around there and she wanted to buy a place further into the woods.
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Old 12-06-2007, 09:27 AM
 
Location: Log "cabin" west of Bangor
7,058 posts, read 9,074,602 times
Reputation: 15634
Quote:
Originally Posted by forest beekeeper View Post
Which is horribly easy to misconstrue without an education on finance.

Which I highly recommend that anyone get when considering earning money and investing.

When you set down to play Monopoly, you will do better if you first read the game's rules.
LOL, keep telling 'em Forest. Maybe some of them will catch on...someday.
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Old 12-06-2007, 09:39 AM
 
Location: Teton Valley Idaho
7,395 posts, read 13,096,282 times
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Quote:
Originally Posted by Zymer View Post
LOL, keep telling 'em Forest. Maybe some of them will catch on...someday.
I just appreciate that he doesn't give up!

I love hearing about the independence of our older people....it inspires me.
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Old 12-06-2007, 10:13 AM
 
Location: Maine
7,727 posts, read 12,378,632 times
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Quote:
Originally Posted by mollysmiles View Post
I just appreciate that he doesn't give up!

I love hearing about the independence of our older people....it inspires me.
Forest? Older people? HAH,... He's just a young'un
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Old 12-06-2007, 10:16 AM
 
121 posts, read 414,970 times
Reputation: 126
Quote:
Originally Posted by TootsieWootsie View Post
So exactly why are so many retirees choosing Maine over their neighbor New Hampshire I wonder? Anyone have any insight on this subject?
Well that's easy, it's a lifestyle choice. It's not all about money.

I'm not retired yet, and I'm moving from NH to Maine. I take a large paycut (same job, I work from home) due to the income tax I will now pay. So if that's what it was *all* about, why move?

Well, there's a bigger picture to tax burden. Property tax in NH is very high, and there's not a year since I've lived here that it doesn't keep rising.
Plus, you get what you pay for....no state income tax means limited state services. You don't want to find yourself hit with hard times in NH.

NH (except the very northern parts) just doesn't have the character of either Vermont (where I lived for 5 years) or Maine. Can't put my finger on it but it's just not as "quaint", certainly (besides the white mountains)nowhere near as beautiful, and the people are not as friendly. Maybe I'm tainted as I live in Southern NH which is basically massachusetts. (The people that refer to southern Maine as northern massachusetts have never lived in southern NH ;-) )

Already, even in Southern Maine, greater Portland, we've been "welcomed to the neighborhood" by our neighbors and we aren't officially moved in yet. Here, in NH, no one even knows their neighbors unless their kids go to school together. (We have no kids....) When you go to stores, restaurants, people are actually friendly. Not just polite, but friendly. What a refreshing change. I'm especially struck by the kids and teenagers in Maine that we've encountered....outgoing, friendly, respectful...whew!

We are moving to Maine mainly to be nearer to the ocean (we have a sailboat) and enjoy the scenery, the people, etc. We wouldn't change a thing, we already love it there. Have lived in NH for 15 years and it never felt like "home"....we aren't going to miss it a bit when we move.

If it's all about money, please, move to NH. It is cheaper to live there. In fact....I have a great 3 bedroom 2.5 bath house for sale :-)
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