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Old 07-28-2019, 10:25 AM
ERH
 
Location: Raleigh-Durham, NC
1,175 posts, read 1,651,878 times
Reputation: 2110

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North Carolina has become a top retirement destination in recent years. We've had an influx of "half-backers," those who thought they'd retire to FL, got there and hated it, and ended up heading north again.

I don't know how the COL in CT compares to NC, but in the Raleigh-Durham and Charlotte areas, COL is higher than most of the rest of the state, which is largely rural. There are plenty of opportunities to live in the perimeters of these cities without breaking the bank.
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Old 07-28-2019, 04:52 PM
 
Location: NE Mississippi
13,793 posts, read 8,654,673 times
Reputation: 20088
Quote:
Originally Posted by magnetnh View Post
I have decided that I would like to retire in 10 years. I contribute to my 401k and Roth IRA's and also live within my means. What else should I be doing now with 10 years left? I am in CT and just not crazy about FL, which is where most family and friends have retired. I think I like VA but which areas would be affordable for retirement? What other cities/states to consider on the eastern seaboard?
Not really enough information here.
Without knowing your age, your income requirements, and how you plan to make that income, there really isn't anything to work with.
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Old 07-28-2019, 05:22 PM
 
Location: Scottsdale, AZ
7,873 posts, read 4,828,192 times
Reputation: 28773
How old are you now, OP? Will you be 65 or older in ten years so you qualify for Medicare or do you have other health insurance lined up?

After what I've been through, I don't think it's ever too early to start learning about Medicare, if you're going to need it.
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Old 07-28-2019, 06:23 PM
 
Location: NC Piedmont
3,961 posts, read 2,902,156 times
Reputation: 6353
Quote:
Originally Posted by ERH View Post
North Carolina has become a top retirement destination in recent years. We've had an influx of "half-backers," those who thought they'd retire to FL, got there and hated it, and ended up heading north again.

I don't know how the COL in CT compares to NC, but in the Raleigh-Durham and Charlotte areas, COL is higher than most of the rest of the state, which is largely rural. There are plenty of opportunities to live in the perimeters of these cities without breaking the bank.
The grass is always greener...

Actually, 7 or 8 months of the year I am okay with NC. I just don't like much winter anymore and just because it's worse elsewhere doesn't fool me into thinking 40s and 50s is warm. We get our share of freezing and below also.

That said, I do know a few people who really enjoy retirement here. Lots of golf year around. The beach isn't far, nor are the mountains. About 3 hours in each direction.
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Old 07-28-2019, 07:22 PM
 
1,295 posts, read 621,353 times
Reputation: 1015
Quote:
Originally Posted by magnetnh View Post
I have decided that I would like to retire in 10 years. I contribute to my 401k and Roth IRA's and also live within my means. What else should I be doing now with 10 years left? I am in CT and just not crazy about FL, which is where most family and friends have retired. I think I like VA but which areas would be affordable for retirement? What other cities/states to consider on the eastern seaboard?
If you want Virginia, consider the Tidewater region in the coastal southeast - Virginia Beach, Hampton, Norfolk. over 2 million residents in the area. The U.S. Navy's Atlantic Fleet is based there as is Newport Ship Building and several colleges, so the economy is pretty stable. Weather is more than tolerable. Beaches are in good shape. Cost of housing is nothing like what you see from D.C. north to Boston.
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Old 07-28-2019, 07:22 PM
 
Location: Florida
4,400 posts, read 3,738,344 times
Reputation: 4158
Make up a projected income budget for the first 10 years of retirement. Reasonably accurate. Add 10% to each year.
Start figuring out what part of the country you would like to live in. Weather and cost.
Pick a state or two and then locations within the states- on the ocean, a lake, mountains, away from bad weather, size of community, medical facilities, etc.
Start looking at various types of housing. You can start locally as you are looking for type not a final home..
start visiting possible retirement locations. Remember evaluate as a resident and not a tourist. Think about year round.
As you narrow down the location look at costs and start getting specific on housing.
The above can be done a little at a time and you should start to get vary serious 3 to 5 years out.
If you can visit at various times in the year.
Once you are ready to retire rent in the area if you can before you buy.
Before you buy redo the costs. Utilities can vary a lot, even within the same community.
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Old 07-28-2019, 07:38 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,733 posts, read 40,145,633 times
Reputation: 23925
Take as much PAID vacation, time off without pay, sabbaticals as possible.

If hourly, work OT for more vacation / comp time

Visit new 'potential' spots (NC, SC, GA to start)

Couple C_D posters have very happily chosen Greenville, SC. As their Retirement spot.
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Old 07-29-2019, 06:28 AM
 
Location: annandale, va & slidell, la
7,462 posts, read 3,077,962 times
Reputation: 6313
Quote:
Originally Posted by magnetnh View Post
I have decided that I would like to retire in 10 years. I contribute to my 401k and Roth IRA's and also live within my means. What else should I be doing now with 10 years left? I am in CT and just not crazy about FL, which is where most family and friends have retired. I think I like VA but which areas would be affordable for retirement? What other cities/states to consider on the eastern seaboard?
In ten years a couple the same age at retirement will need about $3M-plus to maintain a comfortable lifestyle. And yes, comfortable is a matter of opinion!
Keep saving!

Beyond that, we have no idea what you like to do. Where will you dock your sailboat? Will you try your hand at growing hops? Will you need a separate building for your new woodshop? Is beach proximity important? Mountains or marshes?
So much for you to figure out.

We spent almost ten years traveling east coast and gulf coast towns before making a decision.
Good luck!
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Old 07-29-2019, 08:42 AM
 
Location: Pennsylvania
16,413 posts, read 10,397,046 times
Reputation: 28730
The 1st question is do you want to or have to move? It's not mandatory unless for financial reasons.


If you want to move, you've got 10 yrs to find a place. research to find places you might like, then start eliminating.

Meanwhile, develop hobbies, both ones that can be done alone and ones that can be done in groups.

Buy needed equipment, take appropriate classes, etc. Places to live aren't the only things that need exploring; interests do too.
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Old 07-29-2019, 09:36 AM
 
Location: Loudon, TN
5,873 posts, read 4,889,275 times
Reputation: 19774
Quote:
Originally Posted by SoCal_Native View Post
Ask us in nine years. A lot can change.
How is your health and what is its trajectory?
Where are your kids?
Where does your spouse want to retire?
Where did ten years come from? Is there a analytical reason for it?
Is it really worth it to spend 8%-10% of the price of your current house to move?
This is the second time I've seen this number referred to today. It's wildly inaccurate. I moved cross country (2500 miles) from a $450k home to a $350k home, and including moving two extra cars on car carriers, two large PODS, a 32 foot truck, 2 dogs, a third car driving behind the truck, containing me, a cat and my 86 year old MIL, including 5 nights in 2 motel rooms per night, and meals it cost me about $14,000-$15,000 all in. About 1/3 of your imaginary 8-10%.

And we had a heck of a lot of stuff to move, including all the furniture from a 3000 sq ft home, those 3 cars, 4 motorcycles, a 28 foot rowing shell, an 8 ft pool table broken down and crated, multiple, multiple large stand up tool boxes, a wealth of large power tools like air compressors, welding tanks, etc. Far more stuff than your typical retiree might be moving.

Last edited by TheShadow; 07-29-2019 at 09:48 AM..
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