10 Tax-Friendly States For Retirees (Hawaii #7) (rent, to buy, bankrupt)

[EdLo]

From Kiplinger.com:
"The cost of living can be high, and Hawaii has an 11% top rate for state income taxes, the highest in the U.S. But the Aloha State can be a tax paradise for retirees because it exempts Social Security benefits as well as military, federal, state and local pensions, and some private pensions from state income taxes. All out-of-state government pensions are tax-free. Its combined state and local sales-tax rate, at an average 4.35%, is one of the lowest in the nation."

I'm about ready to retire (next year) and thinking of retiring to Hawaii (we're from HI originally with family still there) for three or so years. I'm ready to leave the People's Republik of KA and afraid HI, being a democratic stronghold will be as bad as here. I know gun laws are archaic in HI and will miss UOC and my monthly shooting. Apart from that, how is the politically atmosphere? Is it as bad as CA with the state nearly bankrupt? We don't plan to buy, just rent and enjoy the grands and great grands.
TIA
Eddie
btw, the first 6 with the exception of CO would be the last place I'd considerl

[mdand3boys]

Originally Posted by EdLo

From Kiplinger.com:
"The cost of living can be high, and Hawaii has an 11% top rate for state income taxes, the highest in the U.S. But the Aloha State can be a tax paradise for retirees because it exempts Social Security benefits as well as military, federal, state and local pensions, and some private pensions from state income taxes. All out-of-state government pensions are tax-free. Its combined state and local sales-tax rate, at an average 4.35%, is one of the lowest in the nation."

I'm about ready to retire (next year) and thinking of retiring to Hawaii (we're from HI originally with family still there) for three or so years. I'm ready to leave the People's Republik of KA and afraid HI, being a democratic stronghold will be as bad as here. I know gun laws are archaic in HI and will miss UOC and my monthly shooting. Apart from that, how is the politically atmosphere? Is it as bad as CA with the state nearly bankrupt? We don't plan to buy, just rent and enjoy the grands and great grands.
TIA
Eddie
btw, the first 6 with the exception of CO would be the last place I'd considerl

There is a lot wrong with the article. That low "sales" tax is an excise tax, placed upon the gross receipts of all businesses, including services and medical costs. That makes it a cumulative tax and helps to drive up the cost of everything. (Hawaii even taxes wholesale sales!)

If health care is an issue - make darn sure you will be on the island that has the care you require, or you will be on routine plane flights to Oahu just for the care.

Not trying to be negative, but you must carefully look at all of the issues before making the move.

[cloudcroft]

EdLo,

Yes, re: the RKBA, Hawaii has got to be one of (if not THE) most repressive states there is. I think it'll take a lawsuit to get HI to stop denying 2nd Amendment rights to its citizens...don't know why/how it has gotten away with being unconstitutional all ths time but it sure has. I do, however, hope that someone else brings suit before I get there and have to do it! ;-)

As for healthcare -- if you're a veteran and talking about living on Oahu -- you've got Tripler Army Medical Center and Matsunaga VA Medical Center right next door to it (I'll be using them for my medical care).

Good luck...

[AFDDS]

Ok, I'll bite...tell us the other 6 states

[mdand3boys]

Here is the link to the article:

Kiplinger.com

[AFDDS]

Thanks great web site