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I'm outta here when I retire in about 20 years from now. As soon as the kid is done with school the for sale sign goes on the yard. I'm not paying these taxes to educate other people's kids. I can only imagine what average NJ property taxes will be 20 years from now...40k annually? I'll probably head to an east coast warm weather state with no income tax. Florida sounds about right. I definitely won't be in NJ. I'm here solely for the great schools and proximity to NYC. I will require neither when I retire.
We will probably leave NJ when we retire due to cost of living and property taxes. We will probably move to New England. This is all partly dependent on where our son is. We will not want to be too far from him.
LMAO, favorite time of the day. Happy hour and early bird specials. We did one last night. As to relocating in NJ from northern to central or southern NJ it was a no brainer for us. Beautiful waterfront home for 310K with property taxes of 6K in Ocean County in a fairly quiet area.
Nice. I relocated pre-retirement from Bergen to Monmouth because it was more affordable. Bought a condo I knew I could pay for on my projected pension.
I do like this area. Just came back from the Jersey Blues and Jazz Festival at Long Branch. All the free music in summer in one of the advantages of living near the ocean.
Our plans have been on hold due to the same dilemma shared by Mighty Queen — we won't abandon elders. But now we've lost three of our four parents within the past 13 months so the question is coming up again. (The survivor is able and willing to relocate with us.)
More so, although we're empty-nesters, half of our adult children are still here in North Jersey. Therefore, our NJ links are likely to remain for life.
But yes, due to the high costs of living (including taxes) and ludicrous costs of government, we will leave Metropolitan North Jersey. The poisonous social/political environment is also a turnoff; but that disease seems to be spreading nationwide, with the current crop of Presidential candidates as standard bearers, so it probably doesn't play much in our decision. However, our fellow Jerseyans refusal to deal with the excessive costs of multi-layered government does.
Therefore for us, options include South Jersey, West Jersey, Pennsylvania, Florida, or ???.
• We have extended family and friends who've already moved to Pennsylvania.
• We have a son in Florida and many lifelong friends who've already moved there.
• South Jersey is presently so ridiculously inexpensive it's tough to ignore.
• If a significant draw caught our attention elsewhere, we'd consider it — maybe even snowbirding from New Hampshire or NY's Finger Lakes.
More so, we are well aware that there is no Utopia. We're not looking for it. We're looking for reasonable, nothing more.
How is PA treating them? I often think of moving to PA. I love the houses and the prices.
I will most likely keep my house in NJ, but I will make sure to spend 183 days out of the state so I can claim another state as my residence. Most likely Florida, because of how "tax friendly" it is.
I will most likely keep my house in NJ, but I will make sure to spend 183 days out of the state so I can claim another state as my residence. Most likely Florida, because of how "tax friendly" it is.
You really don't save much money if you keep your home.
NJ does not tax social security and has many deductions and credits for seniors. Income tax is not much. My dad has a retirement income of over $80K and he pays peanuts in income tax.
I'm not paying these taxes to educate other people's kids.
Love this one. What happened to helping people out, looking for diversity, etc, I don't have kids in school and pay school taxes and don't say" I don't want to pay to educate OTHER peoples kids" LMAO Oh well.
You really don't save much money if you keep your home.
NJ does not tax social security and has many deductions and credits for seniors. Income tax is not much. My dad has a retirement income of over $80K and he pays peanuts in income tax.
My income will be considerably more than that, and so will the tax. But more importantly it is expensive to die as a NJ resident. A spouse is not subjected to the NJ estate tax, but children are. So I suppose if one of us were to die, the other could move at that point in time. But I think when I'm retired, I'll probably want to spend winters in Florida, summers on Long Island, and spring and fall in NJ. So if I will be out of the state for those 183 days anyway, there is no real reason to be a NJ resident.
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. We did one last night. As to relocating in NJ from northern to central or southern NJ it was a no brainer for us. Beautiful waterfront home for 310K with property taxes of 6K in Ocean County in a fairly quiet area.
so the question is coming up again. (The survivor is able and willing to relocate with us.)
I'm not paying these taxes to educate other people's kids.
LMAO Oh well.
