Top Five Places to Retire--Where Would You Go? Stay? (communities, state, years)

[Elizabeth_G]

Charles, You'd be surprised how many retired folks "jump ship" and head to warmer areas, children, etc.
I think my main concern will be living near a major airport so we can travel. I would love to live near my kids and grandkids. That will be a major decision for us when the time comes, I'm sure.

[skinem]

I'll be bouncing between several places...Lincoln County, eastern Oregon, eastern Washington, Ruidoso, NM, and finally east TN. All depending upon weather and family happenings.

[HB2HSV]

Everybody makes excellent suggestions. I find myself agreeing with many parts. I love the water and the ocean, but having lived in So. Cal for 25 yrs I will probably explore Southern California/ San Diego for retirement. A fishing buddy retired to PNW on an island just outside of Seattle, the pictures and stories he tells is just down right heavenly - a fisherman's paradise, so I'll explore there as well.

Having say that, I'll also like to travel the world to see other cultures and how they live, and fish when I can. Would definitely go to Costa Rica, Panama, but also New Zealand & Australia. Here in the States, I plan to go fish in N. Carolina for giant blufin, the GOM for big tuna, and Alasaka just for its shear beauty. Other than that, I'll be happy to accompany the wife whereever she wants to go & see, just my way of thanking her for putting up with me all these years.

Charlies brought up a good point, that is money. Most folks when retired do not move from one low cost area to a higher cost area. People 'down size' their houses as well as their expenses. If this is true, then I'd say most posters here will find themselves retire in the greaer Huntsville area. The key is to have a good investment profolio so you can afford to move somewhere that maybe a higher cost of living when you retire.

[Charles]

Originally Posted by Elizabeth_G

Charles, You'd be surprised how many retired folks "jump ship" and head to warmer areas, children, etc.
I think my main concern will be living near a major airport so we can travel. I would love to live near my kids and grandkids. That will be a major decision for us when the time comes, I'm sure.

According to

Where to Retire: America's Best and ... - Google Books

only 3 to 10 percent of people move out of state when they retire and less the 20% move anywhere at all.

So, the overwhelming majority of people don't move when they retire - probably for many of the reasons I mentioned.

But the original post asks where we would move assuming we did move. Somewhere expensive. Why? Medicaid planning. I'd want to own a very expensive home, not necessarily a large home. When nursing home time comes around, a primary residence is not a countable asset when it is time for the government to pay for my nursing home. Medicaid planning involves giving away all countable assets (bank accounts, stocks, etc) to people like your kids. And you want to do it before the look back period. Your primary residence doesn't count. You could have a $2M home and qualify for Medicaid while the guy in the next room over - who has 1/3 net worth you have, is spending down his assets for the nursing home.

Medicaid Planning


The Homestead and Medicaid Planning - Seniorlaw

[StilltheSame]

Northern California.

[Elizabeth_G]

Good points Charles. I guess I have my Realtor hat on, thinking of all my past clients that retire and move on to warmer/greener pastures. I'm surprised the numbers are as low as they are. I'm 'outta here when it's time. See the world, like HB2HSV. (without the fishing, lol) Costa Rica would be amazing!

[mrgoodwx]

Originally Posted by Charles

According to

Where to Retire: America's Best and ... - Google Books

only 3 to 10 percent of people move out of state when they retire and less the 20% move anywhere at all.

So, the overwhelming majority of people don't move when they retire - probably for many of the reasons I mentioned.

But the original post asks where we would move assuming we did move. Somewhere expensive. Why? Medicaid planning. I'd want to own a very expensive home, not necessarily a large home. When nursing home time comes around, a primary residence is not a countable asset when it is time for the government to pay for my nursing home. Medicaid planning involves giving away all countable assets (bank accounts, stocks, etc) to people like your kids. And you want to do it before the look back period. Your primary residence doesn't count. You could have a $2M home and qualify for Medicaid while the guy in the next room over - who has 1/3 net worth you have, is spending down his assets for the nursing home.

Medicaid Planning


The Homestead and Medicaid Planning - Seniorlaw

Charles...maybe I am missing something (and I haven't read the links you provided), but would you be prepared to pay the property tax on an expensive home? I can think of places where the annual property tax bill on a $2 million home would exceed $50,000.

[DavidH74]

Asheville, NC
Georgetown, DC
Savannah, GA
Italy (Rome, Lake Como, Sardinia, Tuscany)
Napa, CA

A boy can dream.

[Charles]

Originally Posted by mrgoodwx

Charles...maybe I am missing something (and I haven't read the links you provided), but would you be prepared to pay the property tax on an expensive home? I can think of places where the annual property tax bill on a $2 million home would exceed $50,000.

The $2M was just an example; I doubt I would buy a home that expensive in today's dollars. However, if it were in Huntsville, and the home was $2M, then the property tax would be around $11,600/year. If in Southern California, the property taxes would be around $20K/year.

So, yes I would be prepared to pay the property tax on an expensive home. I would know that going in and figure it in to the overall affordability.

[ionlife]

Okay-

1) Somewhere near an international airport so I can travel easily and see the grandkids/daughter/family
2) Orlando area, but maybe closer to Tampa
3) South Carolina
4) Houston, TX
5) France, near Paris (my dream cause I really am a world traveler)