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EscortRider---I agree with you, and you may have a point about grocery prices; i was flabbergasted when I went to Fort Lauderdale/Miami for the first time in 1979 for a vacation, and was shocked when the cashier at a grocery store in Ft. Lauderdale told me that groceries were taxable. Florida has no state income tax and neither does Tennessee so they obviously have to raise revenue with other taxes; Jason L. Riley pointed out in the WSJ yesterday that the sales tax in Tennessee is second highest in the country, whereas California's taxes are just high across the board.
Choosing a place in which to retire isn't easy; that's for certain.
My remarks about grocery prices were based on 16 years in the grocery industry (1969-85), at which time we had 6 or 7 major chains; nowadays it's Ralphs & Vons as the 'Big Two' with Albertsons being a marginal player and Stater Bros. in the IE and OC.
I didn't know that about Tennessee's energy prices, although I knew that they had to be lower than California's, and that's a pretty hefty difference---thanks for pointing that out.
Another the thing about TN is that while sales tax is high, the state is so narrow it's easy to get to other states for major shopping and save on tax.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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No sales tax on groceries in WA (income tax free state). Groceries and Energy (Electricity) is VERY cheap in much of WA. Some of my retirees friends are in a county that still has <$0.05/KWH rates (Ours were $0.028 most of our last 30 yrs, now 2x+)
Property taxes vary... mine are $40/day.
One of my income properties < 1 minute away is $4/ day. (same cost basis, but different taxing districts and much different assessed value (at the assessor's discretion))
AK is even better (no sales or income tax), but not many retirees either... EXCELLENT place for those working for INCOME !!! (younger earners)
An Income Tax free state was very helpful in me being able to retire pre-age 50 (single earner family / no college degree at the time) / no Gov job/ no pension).
I would have done AK in a heartbeat! Double the wages of well paid WA, (which were double my taxed Colorado wages). There are cheap(er) ways to live in AK, but U need to be resourceful.
If I were a wage earner.. (a very BAD way to make a living BTW) I would be in WY, SD or AK (or more likely overseas in a 'risk/ war' country (excluded USA taxes on $100k + yr).) Not fun... not safe, but work fast and RETIRE (if you live through it) One of my tenants and 2 friends did the 5 yr stint as contractor in Iraq. They are 'retired', but a bit 'jittery' !
I didn't know that about Tennessee's energy prices, although I knew that they had to be lower than California's, and that's a pretty hefty difference---thanks for pointing that out.
I am paying more for electricity and gas in Tennessee than I did in San Francisco. We didn't even have an air conditioner in San Francisco and we rarely ran the heater. That is not the case in Tennessee.
Food prices and alcohol prices are extremely higher in TN. The insurance on my truck doubled when I moved to Tennessee. Gas for the truck and buying a house, plus no state income tax are the only pluses of moving here. I can't wait to leave and I will When I am finished with work. Or sooner, because living here is wrecking my health.
AK is even better (no sales or income tax), but not many retirees either... EXCELLENT place for those working for INCOME !!! (younger earners)
I'm from Alaska. I lived there from age 13 to 36. When I moved away, I was in shock because I wasn't used to taxes. When I lived up there you could still buy a house at a decent price. Now it's much more expensive. The over all cost of living is high. I still have family up there. When I first moved there, the pipe line was only just completed. There was no permanent fund check yet. I remember when it first started, we were so excited about it, but then the oil bust came in the 80s, and it's value was very low. Housing prices took a tumble and people were leaving the state, and their mortgages behind. It took a while but it did rebound. We bought our house while it was still cheap, that same house is now worth double what we paid. If I could afford it, and could stand the long winters again, I'd move back up there to work.
I'm under the impression that it might be wise to find a "Trifecta". Where the property, Sales and State income (if there is one), are reasonable. Just seems when you move to a place that is very low in any of the three, then it's way high in the others. If you find an area that has an over all low cost of living. You can afford to buy a house, the property taxes won't be out of sight, you can buy food reasonably, and hopefully not taxes, and if it's a state with income tax, that they don't tax your retirement, that would be a good choice. And of course it has to have decent weather as well!
Been wondering what people look for in a retirement area. For me, it's low cost of living, low crime, good weather. Also near good health care options. I get frustrated because once I get interested in an area and then start researching it to death, I find major deal breakers. So then I scratch it and start again. For example, for a time TN was high on the list, but now it's been taken off. Too much crime in the state, too high of sale's tax. Then I started looking at states that don't tax retirement. TX is still on my list, but the property taxes in most of the areas are out of sight. So just for kicks, what criteria do you base your searching an area on?
Back to what the OP asked, here are my current thoughts. Of course, they will probably change, but this is the current plan. I still have about three years before I bail the working world.
Very important considerations:
1.) Not a high humidity area, (crosses out anywhere east of the Rocky Mountains).
2.) Within a reasonable distance of a college or university, (for the culture it brings an area, (e.g., concerts, theater), and that I want to take some classes myself).
3.) In a smaller town/city, (I need neighbors, and to be part of a community).
4.) A Church of Christ, or another church in which I would be comfortable being a member and servant to others.
5.) No HOA.
6.) Less rain than more.
Less important considerations:
1.) Fairly safe area to road cycle, (bicycle - is there such a place?).
2.) Within a reasonable distance of a smooth river or lake, (sculling and kayaking).
3.) Near the mountains/hills, hopefully with a view out the window.
4.) A one-story house, (getting tired of stairs).
5.) Near a hospital/medical center, (not important now, but could be in the future).
6.) A fairly active tennis scene, (USTA league play).
Not a consideration at all.
1.) Family, (just one daughter who is living her own life in CO - remaining siblings scattered across the country).
2.) Spouse, (do not have one, and don't really want one at this time).
I'm concentrating my research and visitation efforts on three states, and parts of those states.
1.) Idaho, (current front runner)
a.) northern, has everything on the list, but not sure if I can cotton to the winters.
b.) eastern, closer to Yellowstone, but not too keen on being on the plain.
2.) Wyoming, (a close second)
a.) Bighorn Basin, similar ecosystem in which I was raised and have lived my whole life, however, little tennis and few sculling opportunities.
b.) Northern Powder River Basin, same as above.
3.) Montana, (a distant third)
a.) not very financially friendly for retirees, except for having no sales tax.
If these three states don't work out, I'd consider taking a look at north-central Arizona or Utah away from the Wasatch Front. Not really interested in any other place. Still under consideration is being a part-time expatriot, (Andalusia, Languedoc/Provence, Marche/Abruzzo, or Uruguay).
After I submit my final grades for this current semester, I'm taking a two-week road trip in early December to visit some of the areas I'm keen on, (ID, MT, WY). This time, I think I'll make contact with some realtors. I hope the weather patterns will revert closer to historical normal than the past few years when early December has been more mild than normal.
this is a nice discussion with great inputs, has anyone considered differentiating between Golden years and platinum years or is it too much to move in later face of life ?
Wow Volosong, you have really thought this out. How Awesome that you can take some time off to go visit your states of consideration. All three you mentioned are beautiful states. I hope you find a nice area. Good luck to you.
Sanshaloo: I guess a lot depends on your health. I'd rather move sooner than try to move in my late 70s some where.
Wow Volosong, you have really thought this out. How Awesome that you can take some time off to go visit your states of consideration. All three you mentioned are beautiful states. I hope you find a nice area. Good luck to you...
Thanks. Still a bunch of thinking to do. It's a continuing process. It really just comes down with examining one's life and quantifying what is important in their life and what is not so important. I am fortunate that family or a spouse's wishes aren't something that needs to be considered.
AK is even better (no sales or income tax), but not many retirees either... EXCELLENT place for those working for INCOME !!! (younger earners)
I'm from Alaska. I lived there from age 13 to 36. When I moved away, I was in shock because I wasn't used to taxes. When I lived up there you could still buy a house at a decent price. Now it's much more expensive. The over all cost of living is high. I still have family up there. When I first moved there, the pipe line was only just completed. There was no permanent fund check yet. I remember when it first started, we were so excited about it, but then the oil bust came in the 80s, and it's value was very low. Housing prices took a tumble and people were leaving the state, and their mortgages behind. It took a while but it did rebound. We bought our house while it was still cheap, that same house is now worth double what we paid. If I could afford it, and could stand the long winters again, I'd move back up there to work.
I'm under the impression that it might be wise to find a "Trifecta". Where the property, Sales and State income (if there is one), are reasonable. Just seems when you move to a place that is very low in any of the three, then it's way high in the others. If you find an area that has an over all low cost of living. You can afford to buy a house, the property taxes won't be out of sight, you can buy food reasonably, and hopefully not taxes, and if it's a state with income tax, that they don't tax your retirement, that would be a good choice. And of course it has to have decent weather as well!
I would also recommend NH in that regard, though property taxes are supposedly high.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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[quote=Emigrations;37019075]
Quote:
Originally Posted by tamaralj
I would also recommend NH in that regard, though property taxes are supposedly high.
Climate, wages, utilities, property taxes are just a few challenges to NH. I have to add salt... Pretty tough on my old cars.
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