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Old 09-03-2018, 01:11 AM
Location: SW Florida
4,614 posts, read 6,274,166 times
Reputation: 7809


Originally Posted by cattusbabe View Post
My Tx license is good until 2023 so I'm good there. Re. taxes. Philly is a whole another kettle of fish. Pa. is fine which is why I plan to establish residency outside of Philly.
Well, don't get pulled over, and have a story ready if you do. You're supposed to re-register your out-of-state vehicle within 20 days of establishing residency in PA, and you have 60 days to get a PA driver's license....but you can't register your car unless you already have the PA ID. Just bringing this up because when I moved back from CA, I took my good old time and wound up getting pulled over for making an illegal U-turn. (I was so used to U-turns being legal all over the place in CA.) I didn't get a ticket but the cop did let me know I was supposed to have gotten that stuff done already.
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Old 09-03-2018, 07:59 AM
Location: Center City
7,087 posts, read 8,218,872 times
Reputation: 10154
Originally Posted by cattusbabe View Post
That is true for most of the state. Philadelphia being an exception. There is a school income tax on retirement earnings from investments. It can get pretty significant. When you are on a fixed income every dollar counts so in my opinion one should take that into consideration before considering a move as a retiree to Philly.
PA is one of the best states to retire in terms of taxes. The SIT is roughly 3.9% of unearned income. Any retiree with the bulk of their wealth in unqualified accounts rather than IRAs and 401(k)s has been misled by their financial planner (or they are too wealthy to worry about the SIT).
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