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Old 02-07-2016, 02:57 PM
 
Location: Central IL
15,253 posts, read 8,552,827 times
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Soooo many people move when they retire...but not necessarily to lower COLA...maybe to be closer to family/grandkids but that's no guarantee they'll get any assistance as they age. People are willing to move, but not to move JUST to get to lower COLA. And that's a shame because it's a HUGE factor in quality of life. No, Arkansas may not be as sophisticated as LA but by god you can get a helluva house for $300k!
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Old 02-07-2016, 03:00 PM
 
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Trading our life with our kids and grand kids for a low cost area is this last thing we would ever do
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Old 02-07-2016, 04:26 PM
 
Location: Central IL
15,253 posts, read 8,552,827 times
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Quote:
Originally Posted by mathjak107 View Post
Trading our life with our kids and grand kids for a low cost area is this last thing we would ever do
I'm not saying you WANT to...but if you don't have $12k for property taxes...what exactly do you do? Perhaps check to see if the grandkids can come to you? Or get your kids to pay your property taxes? It's all easy to say, but when the rubber hits the road and you don't want to eat cat food for the rest of your years....?
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Old 02-07-2016, 04:39 PM
 
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Currently I live in a fairly low cost of living area in the Midwest and have a house I can live in when I retire (can live one level if needed).


Would like to look into an area with a milder climate upon retirement. Certainly would be a low COL area.
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Old 02-07-2016, 05:34 PM
 
71,756 posts, read 71,853,273 times
Reputation: 49307
[MQUOTE=reneeh63;42925721]I'm not saying you WANT to...but if you don't have $12k for property taxes...what exactly do you do? Perhaps check to see if the grandkids can come to you? Or get your kids to pay your property taxes? It's all easy to say, but when the rubber hits the road and you don't want to eat cat food for the rest of your years....?[/quote]

Renting an apartment in a building outside of manhattan can be reasonable in

comparison to owning a whole house in long island. Very few folks in the tristate area rent on the level they would buy.
Homes in our area are 600-800k for a small one. But i would never rent that if i wasn't buying. In fact we live in a 2 bedroom apartment in the area in a big rental building for a fraction of what is cost to buy a house.

If folks really want to stay where their family is there are ways. Even golden girling it is an option.
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Old 02-07-2016, 06:14 PM
 
13,964 posts, read 7,434,967 times
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Originally Posted by nicet4 View Post
If SS disappears and you think Trump is volatile then you ain't seen nothing yet. SS is a promise, a promise everyone has worked towards for 50 years only to have it taken away by a political yahoo? Yeah, right.
Social Security isn't going away no matter what political rhetoric they spew. With our wealth and income stratification problem, half of the seniors in the country would be well below poverty level in 30 years without Social Security. The income numbers for retirees only look good now because so many have defined benefit pensions. The next wave of late-boomers won't have those unless they had a public sector job. It's only going to get worse as the public sector curtails pension benefits for younger workers.

You'd see recall elections for any Congressman who voted to kill Social Security. Nobody is going to step on that third rail. On the other hand, I think Medicare is going to see huge changes. For me, it's really hard to plan for it. It's hard to guess if they'll slash benefits, boost premiums for anyone "wealthy", or just increase payroll taxes and keep it as it is now. For sure, Social Security taxes are going up for somebody.
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