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I know NJ is expensive but I love it compared to NY. At least you get something for the taxes - parks, clean areas and police that actually patrol and will respond when you call them. Maybe the new state motto can be "NJ - we're not as bad as NY". I know it's terrible to be priced out of an area. We fled NY because Brooklyn turned into Manhattan and I never wanted to live in Manhattan.
Well that is a huge deciding factor in the number of retirees fleeing NJ, that and how retirement income is/is not taxed in addition to the homestead exemption some states offer at 65.
Fact is many southern states..TN,NC,SC,GA and I'm hearing now MS as well are the hot southern retirement areas due to tax structure..for those wanting to stay in the NE, Delaware is the one....I think Delaware funds everything on that dam toll booth you hit after you cross the Delaware memorial Bridge..lol
NJ didn't slip from the top 10 because it's losing people. It added 300,000 people between 2000 and 2006 (3.7% growth). Which is quite a feat considering that there really aren't many places to left to build. PA, which a lot of people here seem to get really excited about, grew by 1.3% during the same period.
NC grew at a pace of 10%. Just don't ask anyone about the schools . . . or violent crime . . . or the grinding poverty - rural and urban.
A lot of people from NJ move to Raleigh or Delaware or wherever and they have a great time of it . . . because they have no mortgage when they move there. That's the only way they can afford a lifestyle the same or better than the one they had in NJ - because they cashed out to reap the rewards of what they built in NJ.
I don't fault people for doing it. I'm just saying that I've been to the other side and the grass may look greener from here but in reality it's brown from May 'til October.
You are 100% correct, that's why those states are becoming retirement havens..people want to retire early now, not work until they are 66..they sell up here, buy down there, have no mortgage, take their 401k's and retirement packages, pensions and they live pretty dam comfortable....at the most you're facing what a 12 hour drive to visit the kids?? Don't even have to fly
I'm having this dilemma myself..hubbie wants early retirement and says we can't do it here..I'm trying to hold my ground and tell him I'm not moving to a y'all state (no offense southerners) but REALISTICALLY, I can see his point
Well that is a huge deciding factor in the number of retirees fleeing NJ, that and how retirement income is/is not taxed in addition to the homestead exemption some states offer at 65.
Fact is many southern states..TN,NC,SC,GA and I'm hearing now MS as well are the hot southern retirement areas due to tax structure..for those wanting to stay in the NE, Delaware is the one....I think Delaware funds everything on that dam toll booth you hit after you cross the Delaware memorial Bridge..lol
Yes, Southern Miss (read: around the Gulf of Mexico) gets a big two thumbs up from me, but the fact is the genie has been out of the bottle there for about 10 years now. Also, unlike many other southern states, Mississippi is, believe it or not, a highly leveraged state when it comes to taxation, both on income and on sales. They go very easy on the property there though.
Yes, Southern Miss (read: around the Gulf of Mexico) gets a big two thumbs up from me, but the fact is the genie has been out of the bottle there for about 10 years now. Also, unlike many other southern states, Mississippi is, believe it or not, a highly leveraged state when it comes to taxation, both on income and on sales. They go very easy on the property there though.
They don't tax retirement income there from what I've read.
The gulf coast is beautiful and nothing like the Delta bible thumping area of the state, which would be a real reality check for anyone coming from the NE
I'm having this dilemma myself..hubbie wants early retirement and says we can't do it here..I'm trying to hold my ground and tell him I'm not moving to a y'all state (no offense southerners) but REALISTICALLY, I can see his point
"Slower" Lower Delaware if you want a house in the country. If you want a house in the city - Philadelphia.
Seriously.
Our property taxes are ridiculously low (mine are sub $500 a year), you don't pay the wage tax if you're retired, and if you buy new construction you get a 10-year tax holiday.
Well that is a huge deciding factor in the number of retirees fleeing NJ, that and how retirement income is/is not taxed in addition to the homestead exemption some states offer at 65.
Fact is many southern states..TN,NC,SC,GA and I'm hearing now MS as well are the hot southern retirement areas due to tax structure..for those wanting to stay in the NE, Delaware is the one....I think Delaware funds everything on that dam toll booth you hit after you cross the Delaware memorial Bridge..lol
I have been debating this also since signing on to City Data. Retire and live comfortably in a southern state or keep working and stay in NJ. That should be a no brainer, but I guess I have no brains because I still work and am attached to NJ. Lets face it most people signed on City Data because they have had a desire to move either now or in the future. I'd probably say 80 to 90 percent landed on this website with these intentions.
I have been debating this also since signing on to City Data. Retire and live comfortably in a southern state or keep working and stay in NJ. That should be a no brainer, but I guess I have no brains because I still work and am attached to NJ. Lets face it most people signed on City Data because they have had a desire to move either now or in the future. I'd probably say 80 to 90 percent landed on this website with these intentions.
That was the case for me when hubbie was on the Bluffton/Savannah band wagon
You know I can't lay my hands on it now, but did have an article on the millions of NJ tax dollars that leave the state every month via pension & benefits of civil employees who have retired and left the state...money that will not be spent in NJ, taxes via sales, property etc that will not be collected in NJ, but I certainly can't blame them
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Lets face it most people signed on City Data because they have had a desire to move either now or in the future. I'd probably say 80 to 90 percent landed on this website with these intentions.
