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The top 10 worst places to retire - on yoo hoo today- wow
At first, it sounds lovely to retire to Hawaii and enjoy perpetually pleasant weather and ocean breezes. There are also some tax perks for retirees, including the ability to subtract Social Security benefits from your federal adjusted gross income, and retirement account distributions derived from employer contributions to pensions and profit-sharing plans are tax-exempt. But living in Hawaii is a far different experience from vacationing there. "We are far from anywhere, so to fly anywhere is much more costly. You don't have the option of driving six hours to be somewhere completely different. That really gets to people sometimes," says Lesley Brey, a certified financial planner for LJ Brey Inc., in Hawaii. "There are lots of things that are more expensive. Food is more expensive here. Housing tends to be much more expensive than people are used to." Senior citizens age 60 and older spend $2,118 per month on housing if they have a mortgage and $539 in other monthly costs if they have paid off their house. The typical retiree renter pays $953 per month. If you end up needing to live in an assisted living facility, it will cost you a median of $3,815 per month, and a semi-private room in a nursing home in Honolulu costs a median of $303 per day.
Seems there may be some bias on certain places. Most may not agree with this information..
The top 10 worst places to retire - on yoo hoo today- wow
Senior citizens age 60 and older spend $2,118 per month on housing if they have a mortgage and $539 in other monthly costs if they have paid off their house. The typical retiree renter pays $953 per month. If you end up needing to live in an assisted living facility, it will cost you a median of $3,815 per month, and a semi-private room in a nursing home in Honolulu costs a median of $303 per day.
My folks and inlaws are spending the same amount here as cited for Hawaii in this article. Not out of line for MN in my experience so far. In fact my Mothers nursing home here is $5,000 a month and it's not even one of the nicer ones.
We have a condo in HI and spend about two months a year there. We are retired and find the COL in HI is very expensive. Even without a mortgage our maintenance costs run $900/month. There are additional costs that we don't have on the mainland, i.e. termites, palmetto bugs or cockaroaches. Food is considerably higher and variety is limited, especially on meat, as most commodities need to be brought into the islands. The homes are more expensive yet most lack insulation or heat. The utilities to run AC can cost $500/month. We love to spend time in HI, but there is a paradise tax to be paid.
And your willingness to "waitress", while you wait for an opening in your "field" (chairlift operator, or maybe, polar bear inseminator) to become available!
you boys are awful. wait...how do you suppose I know you're boys? (I could be wrong)
Indeed, you could, and you are.
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