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Old 08-31-2014, 05:49 AM
 
Location: Southwestern, USA
15,365 posts, read 12,119,741 times
Reputation: 16603

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Quote:
Originally Posted by popcorn247 View Post
I live 12 miles inland from the ocean (Biscayne Bay) in south Florida.
I have a home built in 1956, 1345 sq. ft.
My homeowners' insurance (including windstorm) is $4500.00.
Thank you for that info...picking my jaw off the floor now...

What I read is $9000 in just 2 years...oh my...
or $13k in just 3...staggering to me.
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Old 08-31-2014, 07:10 AM
 
2,626 posts, read 4,950,140 times
Reputation: 2224
Quote:
Originally Posted by Miss Hepburn View Post
Thank you for that info...picking my jaw off the floor now...

What I read is $9000 in just 2 years...oh my...
or $13k in just 3...staggering to me.
Yes, I plan on moving out of Florida after I retire.
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Old 08-31-2014, 08:14 AM
 
Location: Loudon, TN
5,769 posts, read 4,827,803 times
Reputation: 19395
Quote:
Originally Posted by Miss Hepburn View Post
Thank you for that info...picking my jaw off the floor now...

What I read is $9000 in just 2 years...oh my...
or $13k in just 3...staggering to me.
I know! $4500/year is more than my homeowners' + car ins (3 older cars), motorcycle & boat ins, + property tax, + state income tax (LOL), + HOA fees. No, thank you! Any time spent in FL in our future will be as a renter.
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Old 08-31-2014, 09:42 AM
 
Location: Central Massachusetts
4,800 posts, read 4,844,519 times
Reputation: 6377
Quote:
Originally Posted by nurider2002 View Post
Love to visit the desert but don't think I could live there. I need green hills, songbirds and water. Love a sunny climate but not extreme heat. Retirement forces me to look at states that do not tax pensions, social security, don't have insane sales taxes but have a decent climate, healthcare, and some decent restaurants, music venues. For me it's looking like Asheville, N.C. It has a decent music and food scene, beautiful scenary, rural feel and moderate temp.s Would prefer Costa Rica but not in the budget yet! Arizona is great to visit but I can only look at rock for so long. I need green!

FYI

NC does tax pensions unless it falls under the Bailey Decision ruling.

See below

Quote:

Taxes by State: New York to Wyoming
NORTH CAROLINA

Sales Taxes

State Sales Tax:4.750% Prescription drugs, medical equipment exempt, food subject to 2% county tax. Counties may add an additional 2% to 3% tax.
Gasoline Tax: 56.2 cents/gallon (Includes all taxes)
Diesel Fuel Tax: 62.2 cents/gallon (Includes all taxes)
Cigarette Tax: 45 cents/pack of 20
Personal Income Taxes

Tax Rate Range: Low – 6.0%; High – 7.75%
Income Brackets: * Lowest – $12,750; Highest – $60,000
Number of Brackets: 3 The tax brackets reported are for single individuals. for married taxpayers the same rates apply to income brackets ranging from $21,250 to $100,000. Lower exemption amounts allowed for high-income taxpayers. For tax year 2012 the starting point for calculating a taxpayers taxable income is the taxpayer’s federal adjusted gross income (AGI). The previous starting point was the taxpayer’s federal; taxable income.
Personal Exemptions: ** Single – $1,200; Married – $2,500; Dependents – $0 Click here for more information.
Standard Deduction: Single – $3,000; Married filing jointly – $6,000. If you or your spouse are 65 or older you may claim an additional deduction (See state tax instruction booklet)
Medical/Dental Deduction: Federal amount. Income tax credit for premiums paid on long-term care insurance that covers the individual, a spouse or dependent. Credit is equal to 15% of premium cost but may not exceed $350.
Federal Income Tax Deduction: None
Retirement Income Taxes: Social Security is exempt. At least $4,000 in exclusions for federal, state and local pensions (depending on dates and length of service); up to $2,000 exemption for qualified private pensions, including IRAs. Out-of-state government pensions also qualify for the $4,000 exemption. State retirees with at least 5 years of creditable service as of August 12, 1989, will be permanently exempt from state income tax on their retired/retainer pay. Be sure to investigate the Bailey decision. Taxable income also includes income derived from gaming in North Carolina. For more details on retirement income deductions, click here and on the tax form page 13 – click here.
Retired Military Pay: If an individual had five years of creditable service as of August 12, 1989, all military retired pay is exempt from taxes. Otherwise, a deduction of up to $4,000 is allowed for military pay or survivor’s benefits.
Military Disability Retired Pay: Retirees who entered the military before Sept. 24, 1975, and members receiving disability retirements based on combat injuries or who could receive disability payments from the VA are covered by laws giving disability broad exemption from federal income tax. Most military retired pay based on service-related disabilities also is free from federal income tax, but there is no guarantee of total protection.

Last edited by oldsoldier1976; 08-31-2014 at 09:44 AM.. Reason: Missed a point so needed to clarify
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Old 08-31-2014, 11:41 AM
 
Location: St. George, Utah
756 posts, read 883,265 times
Reputation: 1971
Quote:
Originally Posted by TheShadow View Post
I know! $4500/year is more than my homeowners' + car ins (3 older cars), motorcycle & boat ins, + property tax, + state income tax (LOL), + HOA fees. No, thank you! Any time spent in FL in our future will be as a renter.
I've been looking into the insurance rates as well. If one could factor them in during the decision making process and count on them to be stable, that would be one thing. I could accept the rates as high as they are right now as part of the deal. But flood maps are constantly redrawn, and with the federal flood insurance situation in a state of flux I'm not sure I can count on a reasonable rate of increase even for a home that is currently in compliance. Lots of things could happen to change that (I've been reminded repeatedly by posters on this forum that sea levels are rising in Florida, for example, and I don't know really know how to research that accurately)....Going into retirement, we are hoping to have our expenses as fixed as possible, even for a beach house that could also be an income property. We are trying hard to remain cautious and reasonable even as we try to fulfill a few dreams.

In our lower price range it probably wouldn't do us in if we had a beach home lose considerable value due to rising insurance rates & attendant difficulty in selling. But retirement isn't the time I want to be finding out if it would, either!!

This is where my husband and I start flipping through sailboat listings, lol. Anchor in any given secluded island bay and call that beach our own!

I will be glad when we find our spot. Labor Day weekend and here in MT it's in the 60s. Bleh. I gotta go/where there ain't too much snow..../ I gotta go/ where it's warm!
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Old 08-31-2014, 12:45 PM
 
Location: Forests of Maine
30,678 posts, read 49,430,310 times
Reputation: 19129
Quote:
Originally Posted by nmnita View Post
... I think we can all agree, unless we are independently wealthy cost of living is near the top of everyone's list: good medical facilities are up there as well and decent housing. After that, everyone's wants are a little different.
I agree.

For us COL has got to be low. I could not retire in any state that charged me income taxes, which is partly why we settled here.

Medical is an important factor.

Low cost housing also.
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Old 08-31-2014, 02:24 PM
 
Location: Mid-Atlantic east coast
5,371 posts, read 9,859,230 times
Reputation: 10243
I know that the best state for retirement, beyond the shadow of a doubt...the best state, bar none...is...drum roll, please...the State of Happiness.

Without happiness, one can miserable in Eden and dour in Utopia.

You know why? Where ever you go, there you are. Your problems, your outlook travel along with you.

Bliss does not come with a move to a low COL locale. Bliss comes when you cultivate it. You can live frugally anwhere you go if you have a plan, an attitude of can-do instead of can't do

Worth considering, yes??

There are no perfect Edens--- except the Eden you create in your mind. and reflect outward to others.

My advice? Choose the best climate location because you cannot change the cold and the heat...you can cope with just about everything else with creativity and ingenuity. (and California has the best climate, temp wise, but is suffering from a dire drought--and is quite pricey, has earthquakes, wildfires, earth slides.)

Might be smart to re-locate to a place with ample water--and the fewest natural disasters.
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Old 08-31-2014, 04:28 PM
 
Location: Idaho
4,621 posts, read 4,460,757 times
Reputation: 9035
Quote:
Originally Posted by LauraC View Post
...
1. The very first thing you should figure out is what’s important to you.
This is where I'm stuck right now, and this one decision will determine where I move to and where I won't. I'm concentrating my state-side research to the three northern Rocky Mountain states, (i.e., MT, ID, and WY). Staying physically active is very important to me, primarily for the health benefits, but for many other reasons also. I have a lifetime membership in the USTA, (United States Tennis Association), and enjoy league competition. I also cycle, but can do that just about everywhere.

The decision I have to make is just how important playing in a tennis league is to me. If I want to continue into my retirement years, I will be limited to the larger cities in Idaho. There are zero USTA leagues in northwest Wyoming, and the only leagues in Montana are in places I would not want to spend my golden years.

It's a really difficult decision. But I have a couple more years yet to figure out exactly what I want.
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Old 08-31-2014, 04:33 PM
 
Location: Los Angeles area
14,018 posts, read 17,729,443 times
Reputation: 32304
Quote:
Originally Posted by LittleDolphin View Post
.............

You know why? Where ever you go, there you are. Your problems, your outlook travel along with you.
.
So true. Changing locations, while there's nothing wrong with it, will not solve our basic problems.
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Old 09-01-2014, 03:31 AM
 
Location: Buckeye
601 posts, read 715,082 times
Reputation: 1389
Quote:
Originally Posted by Escort Rider View Post
So true. Changing locations, while there's nothing wrong with it, will not solve our basic problems.
No matter where you go, there you are.
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