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Old 04-13-2018, 04:03 PM
 
214 posts, read 85,253 times
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Quote:
Originally Posted by Pine to Vine View Post
Actually, PA is often one of the states typically listed as very tax friendly for retires. There is no tax on pensions (public or private), social security, IRA distributions, or 401!(k) distributions. Further there is no sales tax on clothing or food. Our property tax is about 75% of what paid in Texas - on a property valued over times to that of our house there! There is a modest capital gains tax of around 3%.

Additionally, though this is not tax-related, all public transportation through the Philly metro is free to those 65 and above. Most we know here live with only one car or none at all: quite a savings to the pocketbook.

As to your observation that someone who moves to the northeast from Florida would experience "urban stress," I would imagine they have a good idea of what they are getting in exchange and consider it a worthwhile deal.

Retirement to an urban city in the northeast is not everyone's cup of tea. But then again neither is Florida. As always, YMMV
Nice post... keep it to a quiet whisper .
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Old 04-13-2018, 05:13 PM
 
Location: Washington State
18,705 posts, read 9,653,739 times
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I think it's a viable option that would be very fulfilling and safe as long as you can afford it. I ran a comparison and NYC is 71% more expensive (yes I know housing is multiple times more expensive but the overall cost is 71% more) to live in than Tampa for example. So if it costs you $4K/mo to live in Tampa, you'll need $6800/mo in NYC....also factor in inflation.
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Old 04-13-2018, 05:20 PM
 
71,971 posts, read 72,020,102 times
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We had a second home in the poconos we were going to retire too .

We decided not to because the area just lacked much of what we wanted in retirement or would be important .

Housing costs were not cheaper for us than queens. Here in the city we have a 2 bedroom 2 bath apartment in a building . No one lives with us as all the kids are local .

In pa we needed a 3000 sq ft house since everyone stays over . The house cost us more a month than the apartment
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Old 04-13-2018, 07:17 PM
 
Location: Washington State
18,705 posts, read 9,653,739 times
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Quote:
Originally Posted by mathjak107 View Post
We had a second home in the poconos we were going to retire too .

We decided not to because the area just lacked much of what we wanted in retirement or would be important .

Housing costs were not cheaper for us than queens. Here in the city we have a 2 bedroom 2 bath apartment in a building . No one lives with us as all the kids are local .

In pa we needed a 3000 sq ft house since everyone stays over . The house cost us more a month than the apartment
NYC is one of the 3 to 4 top cities in the world and many would say the top city in the world and it offers benefits than can only be obtained in one of those top cities....I've lived and worked in Moscow, Seoul, Shanghai and all of these large cities offer so many benefits at a cost for those that can afford it.

On the cost, are you suggesting that NYC is not that expensive or just that in your particular circumstance, housing is not a huge cost (from your previous posts, I gather that you have retired in a substantially better financial position than the average)? While I agree you can save on things like cars and there are rent controlled areas, to most people, housing will be much more expensive as well as restaurants, parking, taxes, services etc. will be more expensive than lower cost areas.
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Old 04-13-2018, 07:38 PM
 
Location: Atlanta
110 posts, read 50,483 times
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Quote:
Originally Posted by Nevada2012 View Post
Nice post... keep it to a quiet whisper .
PA has an inheritance tax. Even to your children.
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Old 04-13-2018, 08:29 PM
 
1,092 posts, read 526,180 times
Reputation: 1859
Quote:
Originally Posted by mathjak107 View Post
We had a second home in the poconos we were going to retire too .

We decided not to because the area just lacked much of what we wanted in retirement or would be important .

Housing costs were not cheaper for us than queens. Here in the city we have a 2 bedroom 2 bath apartment in a building . No one lives with us as all the kids are local .

In pa we needed a 3000 sq ft house since everyone stays over . The house cost us more a month than the apartment
I bought a second home in NH thinking it might be a good place to retire. I had family in the area and grew up nearby.

No thanks. Once you have a taste of great weather and amenities, it’s a hard adjustment to give that up. This was one of the nicest areas in NH ( neighbors all doctors and lawyers, their kids all at Ivy’s and top liberal arts schools) but I just couldn’t handle feet of snow and having to drive 5 miles for a quart of milk.
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Old 04-13-2018, 09:17 PM
 
Location: Washington State
18,705 posts, read 9,653,739 times
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Quote:
Originally Posted by Cabound1 View Post
I bought a second home in NH thinking it might be a good place to retire. I had family in the area and grew up nearby.

No thanks. Once you have a taste of great weather and amenities, itís a hard adjustment to give that up. This was one of the nicest areas in NH ( neighbors all doctors and lawyers, their kids all at Ivyís and top liberal arts schools) but I just couldnít handle feet of snow and having to drive 5 miles for a quart of milk.
Also to me climate and amenities are a huge factor and that is why I considered and still considering California as a retirement destination. However, my current plan is in Washington state for most of the year to be near kids and grandkids but wintering in the Phoenix area.
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Old 04-13-2018, 09:26 PM
 
Location: Chapel Hill, NC, formerly DC and Phila
8,572 posts, read 12,694,678 times
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Quote:
Originally Posted by elnrgby View Post
In my case, I just like to be in the center of everything, with so many people and so much activity going on, even if I do not participate too much in the activity - I guess just being in a place like NYC completely protects me from any thoughts about boredom or death, which is a good thing for a retiree. The only real amenity that I need to actively use is a world-class public library and bookstores, and it is nice to have a lot of inexpensive authentic ethnic restaurants (one can have a lunch in a different country every day - a cheap way to constantly travel the world).
You sound exactly like me! I like being in the center of things and especially love being walkable to a library!
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Old 04-13-2018, 09:27 PM
 
1,092 posts, read 526,180 times
Reputation: 1859
Quote:
Originally Posted by Tall Traveler View Post
Also to me climate and amenities are a huge factor and that is why I considered and still considering California as a retirement destination. However, my current plan is in Washington state for most of the year to be near kids and grandkids but wintering in the Phoenix area.
I live in California. The Bay Area. It is really not that costly aside from housing. I own my house, don’t have a great property tax situation - 9k a year - but at least increases are limited.

Aside from housing, it’s relatively cheap on the coast. Heating/cooling costs are low. Food costs were actually lower than NH, and the cost of services, thanks to all the illegals, can be cheap. Ie.... my lawn maintenance costs here are a third what they were in NH, even though there was snow on the ground (and thus snow removal costs) half the year in NH.

I spent 30k last year. I bet it wouldn’t be much more if I owned a place in NYC.
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Old 04-14-2018, 02:54 AM
 
71,971 posts, read 72,020,102 times
Reputation: 49554
Quote:
Originally Posted by Tall Traveler View Post
NYC is one of the 3 to 4 top cities in the world and many would say the top city in the world and it offers benefits than can only be obtained in one of those top cities....I've lived and worked in Moscow, Seoul, Shanghai and all of these large cities offer so many benefits at a cost for those that can afford it.

On the cost, are you suggesting that NYC is not that expensive or just that in your particular circumstance, housing is not a huge cost (from your previous posts, I gather that you have retired in a substantially better financial position than the average)? While I agree you can save on things like cars and there are rent controlled areas, to most people, housing will be much more expensive as well as restaurants, parking, taxes, services etc. will be more expensive than lower cost areas.
we figured out that over all living in the poconos was about 30% cheaper than queens . but wages for what i did were less than 1/2 .so while at one point we thought about relocating it was actually a better deal for us here .

not to mention the higher wages here grew a nice size social security check . which we can take anywhere now .

many transplants from the tristate area do very very well . if they own a home here with lots of equity and sell it , a 600k home going up 3% a year is a lot more than a 150k home going up 3% a year , plus the higher wages producing higher ss checks usually leave the transplants in great shape relocating to cheapsville . far better than most locals are.

so hcola areas do have their own benefits .
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