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Old 08-17-2019, 03:06 PM
 
4,147 posts, read 3,148,107 times
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Quote:
Originally Posted by jrkliny View Post
I don't find these to be at all helpful or interesting.

One reason they are close to useless is the diversity within each State. In NY we have economically low cost areas, a number of major cities and of course NYC. These areas are all very different.
These lists would be more helpful if they were drafted using metropolitan areas rather than full states, although you could argue that the lists are already accurate for small states like Rhode Island or Connecticut which happen to be similarly sized to metro areas in normal size states.
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Old 08-17-2019, 05:46 PM
 
Location: WA
631 posts, read 368,285 times
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Quote:
Originally Posted by Curly Q. Bobalink View Post
Maybe we can share a cab, LOL. I'm hearing the same thing from people every time I turn around, two close friends, my next door neighbor, the neighbor behind me, and most of all, "me", have all repeatedly expressed their desire to join the "exodus". I'm not sure where I'm going to end up, but I can guarantee you, it will be in the state of "Not Illinois". Which is a shame, because I was born here, was (mostly) educated here, and did my career here. And there are still a lot of things I like about living near Chicago (mostly, "choices", it's nice to be able to have so much diversity in things like health care, service providers, restaurants, shopping, etc.). My problem is, I'm not sure how small of a city I can move to and still maintain the "minimum" of choices I can be happy with. I certainly don't need everything Chicago offers, especially the obscene real estate taxes, blood-sucking politicians, politics that make the hair on the back of my neck stand up whenever I turn on the news, etc. - Illinois has become WAY too "blue" of a state for me, I liked it a lot better when it was "purple". It's like the worst parts of Illinois were joined with the worst parts of California, and it turned into.....a place I want to move away from. Soon, thankfully.
Iím in Seattle and feel the same way. I want to find another place but itís difficult these days.
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Old 08-17-2019, 05:52 PM
 
Location: WA
631 posts, read 368,285 times
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Quote:
Originally Posted by GeoffD View Post
And it's not particularly accurate. For retirees, Rhode Island has a means test for their state income tax where you get up to $15K of your Social Security income and another $15K of other income excluded from the state tax. The bottom 3.75% bracket extends to $62K so most retirees aren't paying much tax. You can pick a town with low property tax rates. The mill rate in Little Compton 7 miles from my house is $5.96 per thousand. You're not paying much in the way of property taxes.
How do you like it there?
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Old Yesterday, 08:33 AM
 
Location: R.I.
1,037 posts, read 630,482 times
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Quote:
Originally Posted by GeoffD View Post
The math isn't awful by Northeast Corridor standards. Single family homes are about $250 per square foot. The mill rate is $13.72 per thousand according to Google. You're right on the Newport/Providence bus route with frequent service so your world doesn't end without a car. Rhode Island Hospital is less than 30 minutes in an ambulance with siren going if you need the top medical facility. Rhode Island exempts the first $15K of Social Security income and the first $15K of other income (pension/401(k)/interest income, etc) for seniors who are lower income so you're not paying much income tax.


We've run through this before in the state forums. I'm 15 miles east of you. My Massachusetts math is similar based on my projected retiree income sources, home valuation, and mill rate. My all-in home ownership costs excluding the cable bill are about $6K. I budget for $10K assuming some home improvements. Even if I totally run out of money other than the equity in my paid-for house, I'll be just fine on a Social Security check.
On my 2200 square foot home in Bristol my property taxes alone are $500/month = $6,000/year. And when I add my property taxes to the following additional expenses it costs me 4 x more to live in my home Bristol than it does you to live in your home in South East MA.

Electric - $183/month -(no central AC)
Gas Heat - $183/month
Home & Car Insurance Bundle - $300/month
Water - $90/month
Alarm - $45/month
Cable/Phone/Internet - $164/month
Grass Cutting - & 2 x year yard maintenance - $135
Misc. Home & Other Expenses - $400/month
Total - $2,000/month = $24,000/year

Add to ^ another $6,000/year for healthcare, $12,000/year for food, car gas and maintenance, hair cuts, etc. that total is now at $42,000/year which is $2,000 short of what my expected age 70 Social Security benefit will be. Good for you that you can make ends meet on just your Social Security benefit, and despite you and I living a fairly short distance from each other there is a big distance between us in home ownership expenses even with both not having mortgages.

Fortunately for me I will retire with a FERS pension and TSP/401K which will add a good amount more a year in income to my age 70 Social Security benefit. But, my tax math tells me the amount my 3 income streams will produce as a single filer I will pay in combined Federal and State taxes in the ballpark of $14,600/year. So what remains of my retirement income for fun stuff and throwing some money back in the bank to keep the rainy day fund at a decent level, suffice to say I will likely be going out to eat more often at the Longhorn than at the Capitol Grill.
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Old Yesterday, 08:56 AM
 
4,147 posts, read 3,148,107 times
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Quote:
Originally Posted by kbrkr View Post
I saw this article today and some of the states listed are not as obvious as you would think. Interesting read.

https://moneywise.com/a/the-worst-st...rement-in-2019
New York, New Jersey and Connecticut were called out as being among the worst. These rankings have merit.
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Old Yesterday, 09:16 AM
 
1,507 posts, read 294,334 times
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Quote:
Originally Posted by AtkinsonDan View Post
New York, New Jersey and Connecticut were called out as being among the worst. These rankings have merit.
Over time though these residents did it to themselves with the high taxes.
They want services. They vote for bonds to build those services. Public service jobs increase to run those services. Their taxes go up to pay for those services.

When it becomes a burden they move.

And then you get "Why is there no bus service here ?", "Why is trash only picked up once a week ?", "Where are all the parks ?", etc.
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Old Yesterday, 09:18 AM
 
4,147 posts, read 3,148,107 times
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Quote:
Originally Posted by TMSRetired View Post
Over time though these residents did it to themselves with the high taxes.
They want services. They vote for bonds to build those services. Public service jobs increase to run those services. Their taxes go up to pay for those services.

When it becomes a burden they move.

And then you get "Why is there no bus service here ?", "Why is trash only picked up once a week ?", "Where are all the parks ?", etc.
Yes! I live in New Hampshire and hope to retire in place in 20+ years. My biggest fear is people from New York and Connecticut moving here and ruining New Hampshire.
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Old Yesterday, 09:19 AM
 
11,337 posts, read 8,553,375 times
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My small house in CT was nearly $5K for annual property taxes.

In 2012 I spent 8 months in CT then moved to Hawaii for a year. There wasn't much difference in living expenses.

2018, after another 3yrs in CT I moved to California. Everything's cheaper here except gas. (But I'm in the Mojave desert. )
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Old Yesterday, 10:13 AM
 
Location: Land of the Great Bears
3,615 posts, read 1,985,571 times
Reputation: 4000
Quote:
Originally Posted by AtkinsonDan View Post
.. My biggest fear is people from New York and Connecticut moving here and ruining New Hampshire.
Driving up for weekends/vacations is bad enough, right?

Most of them probably wouldn't be attracted to a long term rural lifestyle though, thankfully.
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Old Yesterday, 10:37 AM
 
190 posts, read 99,238 times
Reputation: 335
Quote:
Originally Posted by in_newengland View Post
I tried. I really, really tried. But the man I was married to at the time only wanted to move to the Boston area. So that's where we ended up. The rest is history--he had a total breakdown from having been in Viet Nam, then he ran off and we ended up divorced. I wanted to live in or around Bristol, RI.
I was just in Newport, on my way back from Cape Cod, a couple of days ago and drove through Bristol and loved it! I went to Cape Cod partly for vacation but also to check it out for possible retirement. After my trip, I ruled out Cape Cod and now I'm focused on RI, Newport area, Bristol and Jamestown, among others. I realize that RI consistently comes up as one of the worst states to retire but I love the area. Unless I was going to pay around $10k more in taxes, which I don't think I will, I won't rule out RI. You only live once and can't take it with you so mind as well enjoy retirement.
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