Where to Retire?

[ToMorrow44]

My buddy has a retirement gig with Fedex in Memphis as a QA Manager in their aviation division. Makes $150k a year. Lives about 30 minutes away from work because taxes are way cheaper in Mississippi. He lives in Hernando. Lives like a king, lived in Cave Creek many years and loved it. Here’s a place not too far down the road from him and closer to Memphis.

https://hotpads.com/2465-wood-hill-dr-horn-lake-ms-38637-1k5kswq/pad-for-sale

Wow! Probably the biggest and most expensive house in town! All the locals will think you’re a millionaire.

 

[ilmormark]

Go to legalzoom and setup a FL llc and put your home in cali and az in it then put the llc in a trust My company does all billing and such out of fl my llc although is out of fl is owned by a corp in delaware this way no one knows who you are and what its all about. im not trying to hide cali is very crafty at trying to find out of state people staying or renting in cali

 

[Taboma]

Go to legalzoom and setup a FL llc and put your home in cali and az in it then put the llc in a trust My company does all billing and such out of fl my llc although is out of fl is owned by a corp in delaware this way no one knows who you are and what its all about. im not trying to hide cali is very crafty at trying to find out of state people staying or renting in cali

I've had a few friends over the years who were well versed in the various plans in order to avoid various taxes, or fees, or or or ---- that the rest of us schmucks were burdened with.
Over beers or cocktails, they enjoyed the attention their special status garnered them.
Of course most within ear shot wanted to know more, it is after all human nature, I was no exception.
But as much as these mostly legal loopholes were attractive, I found myself conflicted.
Money must be collected, otherwise the system we live under the umbrella of will fail.
I live in that system and enjoy the benefits it offers. I may not agree with how all the dollars are spent, but there's another system for affecting change in that regard.
If I don't pay my share, then either services are reduced or somebody else must pay more.
Common sense tells me, the person who will pay more is most likely less well off than am I.
This is the source of my personal conflict, so I continue playing the roll of the schmuck, but I think I feel better knowing I'm pretty sure I'm paying my share.
I think , of course then there's those times I read something like this and feel really dumb
I've always wondered why all the really really big boat in the California harbors are all home ported out of Delaware ?
Sure a long way from home, LOL No I fully realize why, I mean who'd want to boat out of Delaware ??

 

[Go-Fly]

Retirement planning starts at age 18. Some do it and the rest wish they did. The wife and I are traveling this great country after a three year cruise and day after day people tell us we are lucky. Noooooo.....we worked hard and planned for this, hard times and good.

 

[fmo24]

We just retired and are setting out on our tour of the country. Sold the house and belongings, packed the Moho and hitting the road. There is so much out there to see and do that we did not want to limit ourselves to one location yet. Maybe somewhere down the road we will find our Paradise and park ourselves there but for now it is going to be one long adventure

 

[Taboma]

Retirement planning starts at age 18. Some do it and the rest wish they did. The wife and I are traveling this great country after a three year cruise and day after day people tell us we are lucky. Noooooo.....we worked hard and planned for this, hard times and good.

It's obvious there's a whole lot of talent involved in your case, plus come on, call it luck or precision timing, but there's only a certain amount of variables we've got control over.
Regardless, I really like your style !!

 

[Long Way Home]

America's most expensive states to live in..
https://www.homesnacks.net/most-expensive-states-in-america-1211632/

1. California
2. New York
3. Massachusetts
4. Maryland
5. Connecticut
6. New Jersey
7. Virginia
8. Alaska
9. Hawaii
10. Colorado

 

[CoolCruzin]

37 States That Don't Tax Social Security Benefits on state level..but may be subject to federal income tax.


https://www.fool.com/retirement/2018/05/27/here-are-the-37-states-that-dont-tax-social-securi.aspx

I never thought the feds tax SS ,
good to know Thanks .Getting closer and I need to leave ca

 

[nameisbond]

Eastern ore , WA or ida. If you can deal with any snow . Banana belt and God's country, but alas it's closed to all but staunch Republicans!

I plan on building in Eastern Washington when have enough too retire.

 

[TITTIES AND BEER]

Texas Property Taxes cut in half. I wish somebody would tell my tax appraiser that. The actual deal is your property tax rate and value are frozen on your 65th.
Somebody said Tennessee, actually I am looking at KY, no tax on SS and/or the first $40k pension income. Want to go boating check out Kentucky Lake and Lake Barkley, they are connected by a canal and fed by the Tennessee River and Cumberland respectfully (which are also connected by the Ohio River). This is the biggest water body between the Great Lakes and the Gulf of Mexico and you can boat that whole distance from there. Friendly NON liberals, clean air and LOTS of water.
Good Luck

I have family in science hill , very pretty

 

[buck35]

It is closed ,you know...
I love it that many don't do snow .lol!

 

[Carlson-jet]

I want to find the other 7 states Obama said he visited. They must be utopia compared to the real options.
Every place has it's pros and cons. A soul must give up one thing for another. It all depends on what one is willing to give up vs gain. I don't want to Die in Illinois during the winter. I have that much figured out.

 

[PDQH2O]

37 States That Don't Tax Social Security Benefits on state level..but may be subject to federal income tax...

California

https://www.fool.com/retirement/2018/05/27/here-are-the-37-states-that-dont-tax-social-securi.aspx

Kind of misleading article since SSI is a small fraction of most CA retirement incomes. While CA may not tax Social Security in retirement, they tax nearly everything else and at ever increasing rates. All told, they'll take something like 25% right off the top. That makes CA among the most retiree unfriendly states in the country.

 

[BajaMike]

Texas.

Especially if over 65, as property takes are cut in half when you reach that age.

Or buy a place in Baja CA (North of Rosario) in an expat community in the beach[emoji106]


Sent from my iPhone using Tapatalk Pro

Love Texas, spent 5 years in Austin on what started as a 90 day consulting project.

Left there for family back in California, I didn’t know about the 1/2 price property taxes (I was renting) and I might be going back. California is heaven if you are an illegal alien, criminal or homeless person. If you make good money, most of it goes to Moonbeam to support the above and too your house payment. And you can’t have the guns you have.

 

[Dalton]

Top 10 cheapest places to retire in U.S.
10. Montgomery, Ala.
Annual expenditures: $36,971
Annually spent on ...
Housing: $7,149
Groceries: $3,500
Transportation: $6,746
Utilities: $3,796
Health: $5,335
9. Akron, Ohio
Annual expenditures: $36,147
Annually spent on ...
Housing: $5,401
Groceries: $3,767
Transportation: $7,291
Utilities: $3,442
Health: $5,514
8. Cleveland
Annual expenditures: $36,056
Annually spent on ...
Housing: $4,448
Groceries: $3,821
Transportation: $6,746
Utilities: $3,513
Health: $6,474
7. Augusta, Ga.
Annual expenditures: $35,781
Annually spent on ...
Housing: $6,672
Groceries: $3,385
Transportation: $6,337
Utilities: $3,477
Health: $5,574
6. Brownsville, Texas
Annual expenditures: $35,461
Annually spent on ...
Housing: $6,513
Groceries: $3,178
Transportation: $6,746
Utilities: $3,477
Health: $5,694
5. Toledo, Ohio
Annual expenditures: $35,095
Annually spent on ...
Housing: $4,925
Groceries: $3,375
Transportation: $6,814
Utilities: $3,513
Health: $6,174
4. Memphis
Annual expenditures: $33,859
Annually spent on ...
Housing: $6,354
Groceries: $3,221
Transportation: $6,133
Utilities: $3,016
Health: $5,694
3. Jackson, Miss.
Annual expenditures: $33,676
Annually spent on ...
Housing: $4,925
Groceries: $3,135
Transportation: $6,541
Utilities: $3,796
Health: $5,514
2. Detroit
Annual expenditures: $33,356
Annually spent on ...
Housing: $3,177
Groceries: $3,403
Transportation: $6,950
Utilities: $3,654
Health: $5,994
1. Birmingham, Ala.
Annual expenditures: $33,219
Annually spent on ...
Housing: $5,242
Groceries: $3,285
Transportation: $5,860
Utilities: $3,619

https://www.usatoday.com/story/mone.../top-10-cheapest-cities-retire-u-s/699701001/

no times 10, maybe 20 just for good measure, gotdam that was a bad list. Ive lived in poor parts of the country (TN), just having a boat or some toys puts you in a totally different and very small group of people, most people around you will be just scraping by, with subsidized health care paying for prescription opiates as their only refuge from shocking poverty.

 

[LuckyStrike]

Ive got the Cape Coral Waterfront house on the Market Now..Jus saying..LOL

 

[CarolynandBob]

Retirement planning starts at age 18. Some do it and the rest wish they did. The wife and I are traveling this great country after a three year cruise and day after day people tell us we are lucky. Noooooo.....we worked hard and planned for this, hard times and good.

Same with us. We are always asked. How did you do it. I always say. We saved our money.

 

[Taboma]

Ive got the Cape Coral Waterfront house on the Market Now..Jus saying..LOL

Would you be inclined to share how much your property taxes and flood insurance was for that place AJ ? I don't normally ask financial questions like this, but I've had a hell of time trying to get any fairly accurate flood insurance cost estimates --- they seem all over the board and I know most of it depends on your elevation. I would think in your area most homes are similar in elevation, at least appear so.
The other thing I was concerned about was the method the Florida counties (At least in your area) determine property taxes is on an as needed basis --- at least I thought that's what I was reading. Meaning a hurricane like last years, which I'm sure cost the county millions, could cause a sudden spike in property taxes to cover the losses. Is this the case or are they stable and predictable year to year ?

 

[Go-Fly]

It's obvious there's a whole lot of talent involved in your case, plus come on, call it luck or precision timing, but there's only a certain amount of variables we've got control over.
Regardless, I really like your style !!

Thank you for the compliment. The facts are, that most people fall into the marketing trap that you have to spend every penny you make, as soon as you make it. Add that to peer pressure to do the same, as a norm and you are in the trap. If you have a credit card balance, a car loan, a toy loan, a mortgage over ten years and not saving ten percent of your income. You are in the trap. The marketing is to live the moment, not live your life. Being debt free is the greatest feeling of freedom you will ever have. Life also has choices of free will. There is no real reason why everyone can't have a good retirement plan. There are moments and places in time that some people excel to higher income. Anyone could have done the same thing if they were there. My father used to say, "some day your ship will come in and you will be at the airport, don't be at the airport with everyone else".

 

[Go-Fly]

Same with us. We are always asked. How did you do it. I always say. We saved our money.

Saving money is the key to a good retirement. Most people just can't understand it.

 

[fmo24]

Saving money is the key to a good retirement. Most people just can't understand it.

Exactly. I would always tell my new hires start saving. Company has a great 401 plan and then every time you get a raise bump up your contribution a percentage of the raise. It is amazing how quickly the funds grow if left alone thru your career.

 

[Go-Fly]

This thread was where to live when you retire. First thing I did when I retired full time was to sale my house and buy something smaller down south in the sun. When you own everything outright, all you have to cover is taxes, utilities and maintenance. Ass, grass and gas, nobody rides free. No matter where you go it's going to cost you on one end or the other. All states need cash flow. Find the state that best fits your needs and live there or stay where you are at. Some people move and some people nest. If you start chasing dollar, you will drive forever.

 

[wsuwrhr]

For prosperity, what exactly is an "assault rifle"?

Brian

Or you can retire to "NorCal, The Other California" where:

5. Guns. Just not assault rifles.

 

[Go-Fly]

For prosperity, what exactly is an "assault rifle"?

Brian

Any scary looking gun that's FULLY semi automatic, that shoots more then one round at a time, can be held with two hands, can be pointed at a human being and has a number in it's name. Don't you watch the news.

 

[wsuwrhr]

Fully semi automatic. Noted.

Any scary looking gun that's FULLY semi automatic, that shoots more then one round at a time, can be held with two hands, can be pointed at a human being and has a number in it's name. Don't you watch the news.

 

[Bobby V]

Retirement planning starts at age 18. Some do it and the rest wish they did. The wife and I are traveling this great country after a three year cruise and day after day people tell us we are lucky. Noooooo.....we worked hard and planned for this, hard times and good.

Yep. Started in my trade at 21 with 25 cents an hour going into a 401 type fund. Its snowballed into quit a large amount now after 36 years. Some years at contract time we would ask that more $$$ goes into this fund then on our check.

 

[Go-Fly]

Fully semi automatic. Noted.

Military fully semi automatic combat style.

 

[wsuwrhr]

That's quite an assault on our language.

Military fully semi automatic combat style.

 

[Go-Fly]

Yep. Started in my trade at 21 with 25 cents an hour going into a 401 type fund. Its snowballed into quit a large amount now after 36 years. Some years at contract time we would ask that more $$$ goes into this fund then on our check.

Most employers match your contributions. And people still won't save. Enjoy your retirement, you worked for it.

 

[wsuwrhr]

Never worked for one who did. Employer contributions "were discretionary" that always made me laugh.

Brian

Most employers match your contributions. And people still won't save. Enjoy your retirement, you worked for it.

 

[Taboma]

Thank you for the compliment. The facts are, that most people fall into the marketing trap that you have to spend every penny you make, as soon as you make it. Add that to peer pressure to do the same, as a norm and you are in the trap. If you have a credit card balance, a car loan, a toy loan, a mortgage over ten years and not saving ten percent of your income. You are in the trap. The marketing is to live the moment, not live your life. Being debt free is the greatest feeling of freedom you will ever have. Life also has choices of free will. There is no real reason why everyone can't have a good retirement plan. There are moments and places in time that some people excel to higher income. Anyone could have done the same thing if they were there. My father used to say, "some day your ship will come in and you will be at the airport, don't be at the airport with everyone else".

I couldn't agree with you more. This is exactly the life lesson my father instilled, credit was a foreign word to him. I must admit, there were a few times I'm sure I had him stirring in his final place of rest, but overall I'd give myself a "B" at minimum.
My rather strict adherence to this philosophy cost me a marriage, or should I say, revealed a irreconcilable difference.
The frustration has been trying to convey this to my two children, I've made good progress with my son, hopefully not to late. For my daughter and her husband, I fear there's little hope, oh well.
The Luck or Timing issue was the other guy, or other things, those things we simply write off as fate or chance, we can mitigate, but that's about it.
So I'm given to think that as much as retirement is a worthy goal, there's two notable problems, or variables.
Living long enough to reach it and being physically able to enjoy it once you do.
Certainly you can improve those odds, but not completely control all the variables, especially the ones controlled by others.
My point is, you can save for retirement as being a major destination, but you'd be wise to enjoy the journey, else your life story becomes rather tragic.
Personally, I certainly enjoyed the journey, in fact to the extent that I feel damned lucky to have even made it to my Golden Retirement Years !!!
Our biggest problem is, now that we're here and hearing the life clock ticking --- no more screaming in my ear, what to do and where to go ??
Oh and how to feel good about spending the money we've worked so hard to save ---- laugh all you want, but that money has become this great big cuddly Teddy Bear, or security blanket if you will.
I feel like we've got one good shot to get it right, not enough time or money for several do-overs.
It's like picking which of the three doors, or being granted one wish, what I really wish for is more wishes !!!
I'm envious that you've got it all going on --- We seem to be stuck at the gate, which isn't a bad gate to be stuck at, we've got our lake place and a very comfy home place and our toys, all paid for -- BUT, I'm craving one really big last adventure, and with that I'm truly struggling.
Travel Safe !!

 

[LuckyStrike]

Would you be inclined to share how much your property taxes and flood insurance was for that place AJ ? I don't normally ask financial questions like this, but I've had a hell of time trying to get any fairly accurate flood insurance cost estimates --- they seem all over the board and I know most of it depends on your elevation. I would think in your area most homes are similar in elevation, at least appear so.
The other thing I was concerned about was the method the Florida counties (At least in your area) determine property taxes is on an as needed basis --- at least I thought that's what I was reading. Meaning a hurricane like last years, which I'm sure cost the county millions, could cause a sudden spike in property taxes to cover the losses. Is this the case or are they stable and predictable year to year ?

Just Listed...Property Taxes 7500.00 Year Flood Insurance 600.00 year Flood...My Home...As well as others in my area of the SW Cape...We Are fairly High...No real increase for next year according to locals

 

[Go-Fly]

That's quite an assault on our language.

I couldn't agree with you more. This is exactly the life lesson my father instilled, credit was a foreign word to him. I must admit, there were a few times I'm sure I had him stirring in his final place of rest, but overall I'd give myself a "B" at minimum.
My rather strict adherence to this philosophy cost me a marriage, or should I say, revealed a irreconcilable difference.
The frustration has been trying to convey this to my two children, I've made good progress with my son, hopefully not to late. For my daughter and her husband, I fear there's little hope, oh well.
The Luck or Timing issue was the other guy, or other things, those things we simply write off as fate or chance, we can mitigate, but that's about it.
So I'm given to think that as much as retirement is a worthy goal, there's two notable problems, or variables.
Living long enough to reach it and being physically able to enjoy it once you do.
Certainly you can improve those odds, but not completely control all the variables, especially the ones controlled by others.
My point is, you can save for retirement as being a major destination, but you'd be wise to enjoy the journey, else your life story becomes rather tragic.
Personally, I certainly enjoyed the journey, in fact to the extent that I feel damned lucky to have even made it to my Golden Retirement Years !!!
Our biggest problem is, now that we're here and hearing the life clock ticking --- no more screaming in my ear, what to do and where to go ??
Oh and how to feel good about spending the money we've worked so hard to save ---- laugh all you want, but that money has become this great big cuddly Teddy Bear, or security blanket if you will.
I feel like we've got one good shot to get it right, not enough time or money for several do-overs.
It's like picking which of the three doors, or being granted one wish, what I really wish for is more wishes !!!
I'm envious that you've got it all going on --- We seem to be stuck at the gate, which isn't a bad gate to be stuck at, we've got our lake place and a very comfy home place and our toys, all paid for -- BUT, I'm craving one really big last adventure, and with that I'm truly struggling.
Travel Safe !!

Adventures can be small in size and big in rewards. Most of what I do, I don't share with the group. I've had breakfast with a man that walked on the moon, lunches with bank CEO's and dinner of Bean & Weenies around a camp fire with a Nam vet. One of those had an impact on my life. Do for you at this stage of the game.

 

[CarolynandBob]

When I started saving at age 21 I started at 1%. Then every month I increased it 1%. Eventually I got to the max you could put in 401k. When they would increase the max I would up it. After i was maxed out in the 401k I started put 1% into after tax investments. I would increase that 1 or 2% quarterly. Eventually, we got up to saving about 30% of our pay.

Just start and increase slowly. Never really missed the money. Also, try never take money out or take a loan on it until retirement. I did one time. It was for a new car. I took the money out and paid cash for the car. I set a payment plan to put the money back each month. i included interest to myself.

 

[Taboma]

Just Listed...Property Taxes 7500.00 Year Flood Insurance 600.00 year Flood...My Home...As well as others in my area of the SW Cape...We Are fairly High...No real increase for next year according to locals

Excellent information AJ, thank you.
The property taxes are about what I was figuring and it at least seems like they've planned enough for contingencies so they don't increase dramatically due to natural events. The flood insurance is much lower than I expected, so that's great news.

 

[WhatExit?]

From the RDP Facebook thread...

 

[LuckyStrike]

From the RDP Facebook thread...

Wheres TBI I need my face Photo chopped on that...Fucking Love It

 

[was thatguy]

From the RDP Facebook thread...

Ain’t that the truth.

 

[Classic Daycruiser]

Saving money is the key to a good retirement. Most people just can't understand it.

It starts with staying out of debt, and saving enough money to pay off your first home, before 30y/o. After that it's all gravy, except staying healthy.