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Depends how much you have to retire on. Weather is best in the U.S. and I've been here over 50 yrs and can't imagine anywhere else. Love light clothing. All year. No Boots. No umbrellas...but we could use some rain NOW.
One thing to consider is that CA is second only to IL in squeezing their citizens to pay for VERY generous public pensions. It's only going to get worse. California's pension system is grossly underfunded and guess who is going to be picking up the slack on it.
One thing to consider is that CA is second only to IL in squeezing their citizens to pay for VERY generous public pensions. It's only going to get worse. California's pension system is grossly underfunded and guess who is going to be picking up the slack on it.
They could easily do like other states and go to a 2 Tier system.
In Utah - anyone hired after July 1, 2011 gets a lesser pension
They could easily do like other states and go to a 2 Tier system.
In Utah - anyone hired after July 1, 2011 gets a lesser pension https://www.urs.org/Members/Tier2
California already did that, PEPRA impacts employees hired after 2013
This is none of my business but this topic has fascinated me as I recently knew someone of an older age who is semi-retired and lives in the LA area as a renter and is happy and satisfied.
I did my own research and found that it seems a senior couple could feasibly retire in CA depending on where they choose to buy and what they're willing to spend. There are some decent 1 and 2 bedroom condominiums in nice cities in nice safe areas in places like Huntington Beach, Mission Viejo, San Marcos, Mira Mesa, Chula Vista, Palm Desert, Indio for under $400k. I saw newer buildings, older buildings, but most had updated interiors with all the fixings like crown moldings, granite countertops. etc. HOA's were under $300. This is very feasible for a couple with decent savings. And if a couple don't plan on buying, they could easily rent in these areas for under $2500 and live out their retirement without the headache of a mortgage and still enjoy a nice quality of life.
Last edited by allenk893; 07-30-2018 at 09:53 AM..
You could definitely get a place in a senior manufactured home park with golf in Palm Desert for under 400k. You could rent there too. This is just not the lifestyle we were looking for, and we like a 4 season climate, and don't like the desert. We needed a home with more space, and a large garage, for our hobbies. For us, we also wanted relief from high property taxes, income taxes, high car registration taxes, kooky fees on our rental property, multiple fees and taxes for utilities, and fire protection, etc. If we wanted to completely change our lifestyle and divest ourselves of our hobbies, we could AFFORD to stay, we just didn't WANT to make those compromises in order to do so.
So the answer to OP's question, can "we" afford to retire there, depends on who the "we" is and what they want in retirement, as well as how much money do they want to spend.
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