Tempt Me to Move Challenge (55, financial advisor, weather, moving)
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Today, July 9, 2012 is about as perfect as it gets weatherwise in my part of New England. Low humidity, sunny, breezy, warm, just lovely. As I was walking the dog and then taking time out on the grass while she did her rollover-I'm-happy-just-to-be-alive thing, I had a stern talk with myself.
I love it here, where I was born and brought up (though I don't live in that city, but not far). I have most of what I want here including some great family members. I don't really want to leave, but I have to admit that there is a relocation strategy that would greatly benefit me should I take hold, with or without a partner.
That is if I sold my house and relocated to an area (it won't be around here, lol) where I bought a sweet little bungalow for under $125 K and had annual property taxes of $700 or less. Then I would be gaining a good hundred grand in clear profit and saving $2500/year in prop taxes.
I peruse different places and give up, due to certain things I know I would never live near: historically known tornado path or flooding/hurricane area, hyrdrofracking area, poorly regulated chemical plants, and nuclear power plants.
Overbearing summer heat, No. Humidity OK. Snowy winters, OK.
I wouldn't know how serious I would be about moving until I heard some tempting suggestions (see bold, above). Otherwise I'll stay here. Realtors and others, OK to DM me. I'd like to hear your recommended places, based on your personal experience of living there.
See bold text in my OP. It would be the only reason that would tempt me to move. As I've always said about life, never say never. (–:
Well, ain't been hit by a tornado yet. Somewhat protected down here in the holler on the lake). Weather can be a bit squirrelly at times but this summer has been a bit hot like everywhere else yet the humidity has been pretty low. Tons of folk art throughout the area and friendly, welcoming and helpful people.
But you've been in the general area before so you already have some idea although perhaps not about deep in the Aux Arcs.
As far as costs go, right-on your projection.
Best of all, summer thunder storms - had one here yesterday and were in the middle of one in Springfield today - fire flies and cardinals!
You don't mention HOW important that money would be to you. Is it more important than the contentment you have where you are now? If not, then I'd stay put as what you already have there is hard to find/replace, and maybe you are just RESTLESS and need an extended vacation which you can do for cheap if you do a house exchange in one of the areas you are hankering to visit. Seniors House Exchange is a good one.
Don't I remember you are a widow? Did you check on property tax breaks and collecting your late H's SS at 60? $2500 seems like an awful lot in property taxes on a 'small bungalow'.
I lived in Plainville MA and I remember so many of those perfect days. New England is pretty and you are lucky to be able to afford to live there. Right now, it's 110 here and you don't want to be outside unless you are in the pool. And that goes for the dogs too. They are wet year round.
But along with those perfect days, you also have the days of endless gloom and no sunlight in the winter. Bonechilling cold, snow, and ice. I'm sure you fear the heat bill just like I live in fear of the AC bill in the summer. Also you have April 15th and those 4 days a year the property tax is due. Those days come around here too, but they are less painful. Every place has it's good and bad points!
Locals here rarely pay full price for food and entertainment. Every month the offers for free stuff come in the mail from the casinos. They are trying to get you to gamble. I went out to a buffet last Friday, total cost $1.50 PP. The Friday before that was a seafood buffet for free. I starved all day waiting for those crab legs and shrimp. I've got a pumpkin pie thawing in the fridge right now that was a Thanksgiving 'gift' from one of the local casinos. Wednesday I will go to a couple casinos because it's old people day and they give out 10X points to people over 55. We'll have free buffet for breakfast that will last us all day long and play our comps(free play) and invest about $20 of our own money to keep those comps coming every month. You never know when you will get free or discounted show or movie tickets either. Free bowling even. There's always things to do here for cheap and practically in my own back yard. It may be hot here in the summer but I'm never bored unless I want to be! You can have a ball just people watching and walking on the Strip or Fremont Street. Once a year or so I get a bus pass for a day and ride the Deuce up and down the Strip just to see everything like a tourist. I always have free hotel offers if I just want to get out of the house for a night. There are advantages to living here too.
If after starting seemingly scores of discussions regarding retirement you still can't make up you mind what to do then nothing anyone of us can suggest will be new or convincing. You probably don't really want to move, so why ask? Just wondering. ;-)
You don't mention HOW important that money would be to you. Is it more important than the contentment you have where you are now? If not, then I'd stay put as what you already have there is hard to find/replace, and maybe you are just RESTLESS and need an extended vacation which you can do for cheap if you do a house exchange in one of the areas you are hankering to visit. Seniors House Exchange is a good one.
I always worry when posting anything hypothetical that I'm going to get advice that is tangent to the actual straightforward question asked, which tends to happen with so many OPs. I would more appreciate just taking the OP at face value, without the questioning commentary. (:
My post has nothing to do with restlessness or a need to travel. In this thread I am not seeking "new experiences." I am addressing a retirement financial strategy often presented by financial advisors: relocation.
As for Mass., there is a circuit breaker program that allows an $800 rebate after age 65. By then, an $800 reduction will most likely be on annual property taxes of between 4 and 5 grand (IOW, to more than what I pay now).
Part of the strategy is to gain a very large profit from my current home. That would be part of the retirement plan, for when I completely retire (stopping teaching and freelance).
The question is posed in the OP: where.
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Tempt Me to Move Challenge
