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Old 07-29-2019, 09:40 AM
 
26,123 posts, read 33,136,429 times
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Quote:
Originally Posted by ReachTheBeach View Post
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.
40s and 50s sounds delightful to me. We had a heat index of 118 last week.
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Old 07-29-2019, 10:14 AM
 
Location: Illinois
12 posts, read 1,349 times
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I am also about 10 years from retirement--actually will be retirement eligible 9 years from next month. My wife who is a few years older is eligible 4 years before me. I will retire at 56, my wife at 57.


We are both federal employees and have our TSP and pensions, we also each have a Roth IRA. I max out my Roth & TSP contributions, my wife falls short of maxing out but has a decent balance in both accounts. I am pretty confident we will be financially stable in retirement--not rich by any means but comfortable.


We are throwing around the idea of being snowbirds...my wife is from Minnesota and wants to spend her summers there and maybe TX for the remainder of the year. No way do we stay in Illinois, neither of us has ties to the area. We have no children so our retirement home(s) location isn't really dependent on being near grandkids or anything.


I like seeing advice of those who are in retirement already and any tips of what they wish they did or what they did that absolutely was a great decision. I want to be prepared, I know its a long ways off but the last 5 years have FLOWN by.
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Old 07-29-2019, 11:08 AM
 
8,008 posts, read 5,087,109 times
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Quote:
Originally Posted by Dreamingisfree View Post
...No way do we stay in Illinois, neither of us has ties to the area. We have no children so our retirement home(s) location isn't really dependent on being near grandkids or anything.
Some (not many?) of us are in the position of (1) having no children, and (2) having no cultural/family/social connections to our current domicile. The latter is because we relocated there decades ago, for career-reasons - and no other reasons. For this group, relocation in retirement makes eminent sense.

Quote:
Originally Posted by TheShadow View Post
This is the second time I've seen this number referred to today. It's wildly inaccurate.
It refers not to the costs of moving, but to the transaction costs of selling/buying a house. It is the real-estate agent's fee, last-minute repairs and preparation of the house for sale and so forth... and on the buying-end, loan-origination fees, closing costs, inspections, title-insurance and so forth. These costs are essentially the same, whether moving across the street or across the country.

Quote:
Originally Posted by walker1962 View Post
If you want Virginia, consider the Tidewater region in the coastal southeast - Virginia Beach, Hampton, Norfolk. over 2 million residents in the area.
Having spent some time in that region, a few observations. First, it is socially-conservative and blue-collar, much resembling the lower Midwest. Second, the summers are oppressively hot and humid. Third, the region is sprawling and spread-out, which means both the curse of traffic and relative lack of nearby amenities. And fourth, is lacks the economic vibrancy of DC or places further up the NE corridor.

For a milder climate and less traffic, one might consider further inland in Virginia, which is to say, west of Richmond. The social/cultural aspects would be the same.

Last edited by ohio_peasant; 07-29-2019 at 11:42 AM..
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Old 07-29-2019, 11:56 AM
 
Location: Loudon, TN
5,875 posts, read 4,889,275 times
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Quote:
Originally Posted by ohio_peasant View Post
Some (not many?) of us are in the position of (1) having no children, and (2) having no cultural/family/social connections to our current domicile. The latter is because we relocated there decades ago, for career-reasons - and no other reasons. For this group, relocation in retirement makes eminent sense.



It refers not to the costs of moving, but to the transaction costs of selling/buying a house. It is the real-estate agent's fee, last-minute repairs and preparation of the house for sale and so forth... and on the buying-end, loan-origination fees, closing costs, inspections, title-insurance and so forth. These costs are essentially the same, whether moving across the street or across the country.



Having spent some time in that region, a few observations. First, it is socially-conservative and blue-collar, much resembling the lower Midwest. Second, the summers are oppressively hot and humid. Third, the region is sprawling and spread-out, which means both the curse of traffic and relative lack of nearby amenities. And fourth, is lacks the economic vibrancy of DC or places further up the NE corridor.

For a milder climate and less traffic, one might consider further inland in Virginia, which is to say, west of Richmond. The social/cultural aspects would be the same.
Thanks for that clarification. I was not going to live in that house in retirement anyway, due to the 4 acres to take care of and being in a high fire zone, in a high COL state that we wanted going to leave. So for us, the real estate and escrow fees were going to happen at some point anyway. But the additional costs of car carriers, pods, truck, motels, gas, etc are the real cost of relocating to a different state in retirement, rather than across town. I save at least $18,000 annually over living in my old location, and now I have a better lifestyle, so to answer S0_CAL_NATIVE's question, yes it was worth it. The savings repaid our moving expenses the first year, RE/escrow fees not included.
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Old 07-29-2019, 03:19 PM
 
2,116 posts, read 890,383 times
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I'm in Howell, NJ. Property taxes on a $300K 3br/2ba 1200 sq. ft. ranch with an attached garage, city water and sewer, on 1/3 acre is about $6K a year. NJ state income tax on a couple over 65 is zero on a 100K income. Very nice place to retire. But 10 years out is too early to plan, except to get your house paid off, pay off and cut up your credit cards, switch to a debit card, and maximize your 401K. We hire a crew to cut our grass, blow our leaves and shovel our snow. Runs about $1K per year.

Last edited by bobspez; 07-29-2019 at 03:28 PM..
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Old 07-29-2019, 04:42 PM
 
Location: Arlington
164 posts, read 162,425 times
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We've got some friends that moved from VA to Hilton Head when they retired. They love it there.
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Old 07-29-2019, 06:25 PM
 
181 posts, read 94,414 times
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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?
I'm also about 10 yrs. away from retirement. I live in VA and am thinking about retiring in CT. Go figure!
I moved to Northern VA from CT almost 20 yrs. ago. While it's a great area to build a career, I certainly don't want to live here in retirement. And vast majority of my friends and co-workers will be moving out of this area, once they retire. I used to really like it here but it's gotten so expansive and congested that I can't wait to move.

If I retired in VA, thus far the only place that I would consider is Williamsburg. VA Beach, Hampton Roads are is also very congested so that would not be a good option. Coming from CT I doubt you would like that area. I also don't think you would NC, again, coming from CT. If you're anything like many individuals from New England, I'm sure you love the small, quaint towns, especially along the coast. I really miss New England summers. Like you, I'm still searching as to where I will retire, but I'm not ruling out CT and New England, despite the fact that everyone seems to moving south. Sounds like you are in a financial position to have a 2nd home, so perhaps it would be best for your to rent for a couple of months in warmer climate and if you happen to like the area, then you can purchase maybe 1 bd. condo a be a snowbird. It's good to plan ahead, but as I read someone else's advise a few months ago, in the retirement forum; a lot can change in even a couple of yrs. What you may like now may change in two yrs. so it's good to do research but wait until you're getting really close to retirement, to make a decision as to where you'll want to live.
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Old 07-29-2019, 06:54 PM
 
19 posts, read 12,841 times
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Thank you to all who have shared there perspectives. You have really given me so much to think about and consider. I especially like that your feedback does have me thinking whether I really want to leave CT. I am a New England native and really can’t see moving elsewhere but the financial realities may come into play as we get closer to retirement. With 3 children and eventually grandchildren I think that may also come into play for the final decision. If we stay in CT we may consider the snowbird option and downsize or move inland for more affordable options. Glad to hear that many of you are also on the 10 year timeline and hope you found some great info here as well.
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Old 07-29-2019, 07:13 PM
 
Location: Mid-Atlantic
25,187 posts, read 24,078,174 times
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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.
Connecticut is one of the, "Thank you sir, may I have another?" states.

North Carolina isn't as retirement friendly as it used to be, but it's better than the other four on the short list.
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Old 07-29-2019, 07:32 PM
 
Location: Florida
4,400 posts, read 3,738,344 times
Reputation: 4158
Quote:
Originally Posted by magnetnh View Post
Thank you to all who have shared there perspectives. You have really given me so much to think about and consider. I especially like that your feedback does have me thinking whether I really want to leave CT. I am a New England native and really canít see moving elsewhere but the financial realities may come into play as we get closer to retirement. With 3 children and eventually grandchildren I think that may also come into play for the final decision. If we stay in CT we may consider the snowbird option and downsize or move inland for more affordable options. Glad to hear that many of you are also on the 10 year timeline and hope you found some great info here as well.
You could rent in the south or rent in the North. In short you can test out snow birding.
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