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Old 11-16-2018, 01:48 PM
 
26,589 posts, read 52,247,863 times
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Quote:
Originally Posted by sombrueil View Post
The main problem with California is not taxes, which are, despite what conservatives want you to believe, not particularly high. It's real estate values. When you can sell your ordinary suburban tract home for almost a million dollars, you'll think hard about whether to stay in California or go for the windfall. Conversely, few from elsewhere can afford to buy a house, and of course rents are commensurate.

Speaking as a newly retired couple who sold our 1100 square foot 1 bath 2 bed California house on a steep shady mostly unusable half acre in CA, bought a 25 acre farm in a charming Western MA hill town with a new horse stable, a big gorgeous 1790 farmhouse with an upscale new kitchen and great room addition, and had $250K left over.
It is nice when a plan falls into place.

I work in medical and the talk is always where are you going to retire... seems just about everyone I work with cashes out their California stake and moves out of State... years ago it was leaving the city for the Sierra... but now it is leaving the State.

I do find taxes to be very high with a bunch of new ones approved the last election... some have said Oakland CA has the highest overall taxes in the State... I will find out as I just closed on a home within the last 60 days... time will tell if I stay or go... for right now I take care of a parent and work is nearby...
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Old 11-17-2018, 02:44 AM
 
95 posts, read 26,431 times
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There is a lot to be said for not moving too far. I know some friends who moved to a warmer climes only to find that within a year they regretted their decision. They missed both friends and family.
And they realised that although their new home was certainly warmer, it actually lacked the range of facilities that their old area possessed. Unfortunately, due to changes in real estate prices, they could no longer afford to return.
Essentially, think very carefully about any major move and if in any doubt, try renting in your proposed new place before pulling the plug.
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Old 11-17-2018, 11:32 AM
 
26,589 posts, read 52,247,863 times
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Quote:
Originally Posted by Not in Kansas any more View Post
There is a lot to be said for not moving too far. I know some friends who moved to a warmer climes only to find that within a year they regretted their decision. They missed both friends and family.
And they realised that although their new home was certainly warmer, it actually lacked the range of facilities that their old area possessed. Unfortunately, due to changes in real estate prices, they could no longer afford to return.
Essentially, think very carefully about any major move and if in any doubt, try renting in your proposed new place before pulling the plug.
This happens a lot to people that leave the SF Bay Area... known a few divorces too.

Mostly it is the guy that loves his spot in the country with acreage and a tractor... or hunting and fishing, etc.. and the wife who misses her friends and Bay Area Amenities...

It's great when a couple is on the same page but moving is often life changing...
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Old 11-17-2018, 01:21 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,536 posts, read 39,903,732 times
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Quote:
Originally Posted by Ultrarunner View Post
This happens a lot to people that leave the SF Bay Area... known a few divorces too.

Mostly it is the guy that loves his spot in the country with acreage and a tractor... or hunting and fishing, etc.. and the wife who misses her friends and Bay Area Amenities...

It's great when a couple is on the same page but moving is often life changing...
or... with a SoCA DS... let them TRAVEL!!! / be with family, go to the beach, enjoy their old friends.

We travel ~ 50% of the time, but only 30% of that time is together (different interests and responsibilities (Eldercare and siblings))

We do separate fly/drives and separate RV trips (mini Class C) and are home / at our other homes together or separate.

Great time together, great time apart, pleased with both situations.

1 yr RTW together in tight qtrs was a stretch (Camper vans / rental cars / airplanes / ship berths...),
Will do that much differently in the future.

Need a link / Sticky to LauraC's instructional C-D forum "How to determine WHERE in retirement!"

Living in the boonies and <20 min to an international airport and 20+ colleges + coast / Mtn / hiking / urban and wilderness within 1 hr is nice. (income tax free and EZ gardening / fresh salmon, wild berries, cool summers, moderate winters is nice too... but comes at a price (Drizzle) Thus the proximity to Airport for sun escapes!)
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Old 11-17-2018, 01:29 PM
 
Location: Texas or Cascais, Portugal
3,414 posts, read 3,178,832 times
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Cost of living is a consideration but, in retirement what is more important to me is living in a walkable city. I donít want to have to drive or take public transportation to eat out, see a show or attend a concert. The number of cities that offers great walkability, along with lush green space are limited. As we age it becomes more important to stay connected to others. I donít want to be in suburbia or a rural area where people go from their homes to their cars with no interaction with others.
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Old 11-17-2018, 02:43 PM
 
26,589 posts, read 52,247,863 times
Reputation: 20397
Quote:
Originally Posted by StealthRabbit View Post
or... with a SoCA DS... let them TRAVEL!!! / be with family, go to the beach, enjoy their old friends.

We travel ~ 50% of the time, but only 30% of that time is together (different interests and responsibilities (Eldercare and siblings))

We do separate fly/drives and separate RV trips (mini Class C) and are home / at our other homes together or separate.

Great time together, great time apart, pleased with both situations.

1 yr RTW together in tight qtrs was a stretch (Camper vans / rental cars / airplanes / ship berths...),
Will do that much differently in the future.

Need a link / Sticky to LauraC's instructional C-D forum "How to determine WHERE in retirement!"

Living in the boonies and <20 min to an international airport and 20+ colleges + coast / Mtn / hiking / urban and wilderness within 1 hr is nice. (income tax free and EZ gardening / fresh salmon, wild berries, cool summers, moderate winters is nice too... but comes at a price (Drizzle) Thus the proximity to Airport for sun escapes!)
I quickly learned just how many of my Olympia neighbors escape each January like clockwork... they go through the holidays and then it is two weeks warm and sunny....
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Old 11-17-2018, 06:07 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,536 posts, read 39,903,732 times
Reputation: 23634
Quote:
Originally Posted by Ultrarunner View Post
I quickly learned just how many of my Olympia neighbors escape each January like clockwork... they go through the holidays and then it is two weeks warm and sunny....
or 4 - 6 months escape... Southern Hemisphere preferred (=LONG days)

I just try to get home in time to mow before 4th of July (since summer in PNW starts on 5 July (days already getting shorter))
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Old 11-17-2018, 06:40 PM
 
7,895 posts, read 5,024,944 times
Reputation: 13528
Quote:
Originally Posted by LookingatFL View Post
...TN does not have income tax.
TN taxes dividends and capital gains. So, for a retiree with large taxable portfolio, TN would potentially impose a hefty tax penalty.

Quote:
Originally Posted by ansible90 View Post
I have done well here for the past 4 years, by taking some money from regular investments and some from IRAs, so I was able to keep my income low. ...
Again, for retirees with a large taxable account, there will be "income" in the form of dividends, even if the account-holder makes zero redemptions from the account, does no trading or rebalancing, and is too young for RMDs.

Quote:
Originally Posted by DanceswithBeagles View Post
Itís only 13.3% at the top bracket. (See table below.)
Note the stark difference in tax-brackets between single and married filers.

Quote:
Originally Posted by GeoffD View Post
... I don't see that the state income tax is onerous, particularly once you hit age 65 and get to shield up to $30K of income.
Another thing to note, is that tax-bills can be quite different for "traditional" retirees (65+) and early retirees. Imagine the case of a young attorney who finally scores a superstar case, gets an 8-figure payout, and decides to retire. This is the example of a single guy or gal, decades and decades younger than that magical 65 - with a large taxable portfolio. The cost-effective place to retire is a place with no state/local income tax (including tax on investments!), even if houses cost millions.
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Old 11-17-2018, 07:08 PM
 
1,734 posts, read 1,947,792 times
Reputation: 3901
Quote:
Originally Posted by StealthRabbit View Post
or... with a SoCA DS... let them TRAVEL!!! / be with family, go to the beach, enjoy their old friends.

We travel ~ 50% of the time, but only 30% of that time is together (different interests and responsibilities (Eldercare and siblings))

We do separate fly/drives and separate RV trips (mini Class C) and are home / at our other homes together or separate.
Errr...umm...no offense, Stealth, you know I am one of your fans and admire all of your accomplishments.

But. Your. Poor. Wife. It would simply exhaust me, physically and mentally, to travel with somebody as hyperactive as you, lol! Wife is a saint. Bless both of you! You deserve blessings, having made it work for so long! Best, Jane
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Old 11-17-2018, 07:13 PM
 
956 posts, read 1,297,143 times
Reputation: 1309
Quote:
Originally Posted by Ultrarunner View Post
This happens a lot to people that leave the SF Bay Area... known a few divorces too.

Mostly it is the guy that loves his spot in the country with acreage and a tractor... or hunting and fishing, etc.. and the wife who misses her friends and Bay Area Amenities...
Hah Hah. Man oh man how many times I have seen this. And it is so true it is a TV trope (which people of "a certain age" remember, and GenXers and younger do not.


https://www.youtube.com/watch?v=DrbPAt1_vc4
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