Where have you thought of retiring?

[+ Keith30309]

Fort Myers is growing rapidly. I'd go a few miles south and check out Naples and Collier County. Much better run county than Lee County (Fort Myers). No income tax in state. Florida is HOT and HUMID in summer. 55" of rain per year in summer. About 1,000 people A DAY are moving to Florida.

I absolutely love the Lee/Collier county area... I spent a good bit of my childhood there and remember when Big Hickory was nearly deserted. I used to have a canoe and would fish the incoming tide sitting back in the mangroves with the herons and then watch the dolphins in the gulf feeding in the outgoing tide. It was a very special place.

 

I went back a couple of years ago and there's high rise beach clubs/condos there now but I guess that was inevitable. The place still has allot of charm beauty, despite the horrendous traffic.

[+ Just Sayin]

Anyone willing to comment on Fort Myers florida, or Tucson, AZ?

 

I've lived in Tucson for 25 years; there is a world of difference between Southern Arizona (a/k/a Baja Arizona) and the rest of the state; Tucson is politically progressive; the University of Arizona is one of the city's largest employers; real estate is not inexpensive, but real estate taxes are low; income taxes aren't a big deal, and because this is a retirement center too, great health care is readily available. It saddens me that Tucson is also the 6th poorest city in the country, but the downtown has been redeveloped and better jobs will be coming to the area. I'll take a Tucson summer over a midwest winter any year, and if you need a break, San Diego is only 6 hours west on I-8. I've served on several LGBTQ nonprofit boards, and have met truly wonderful and friendly people. I am a big fan of Tucson, and I intend to retire gradually in place here.

[LouieD]

Only two states in the Union offer "Homestead", Florida (FloriDUAH) and Texas (TexASS).

 

A huge benefit to retirees and those skirting the law...

Yes, but there is a CAP to the homestead exemption in Florida. It varies by taxing jurisdiction. It helps somewhat, but not nearly as much as I had hoped.

[Kippy]

Only two states in the Union offer "Homestead", Florida (FloriDUAH) and Texas (TexASS).

 

A huge benefit to retirees and those skirting the law...

I believe Minnesota allows each homeowner to "homestead" their primary in state home for tax purposes. A second home or lake cabin would not qualify for this lower designation if in state.

 

Peace,

 

Kipp

[liubit]

Prague, with a lot of Viagra and its gorgeous boys. Yes, yes, life is beautiful and affordable in Prague.

[+ Charlie]

If you like southern California traffic, you will feel right at home in Austin.

[actor61]

I'm a native of Greater Chicagoland (from the Hamburger section of a relatively affluent suburb). got shipped to the east coast for Undergrad and Medical School.

 

I moved back in the mid-'80's after my mother had some health issues. They lived 15 miles west of Downtown Chicago, and I lived on the Lake Front, at Irving Park Road (and worked on the University of Chicago campus).

 

PROS: Incredibly intellectually stimulating. I sang under the Assistant Director of the Chicago Symphony Chorus (after five years with the Tanglewood Festival Chorus). We went to theatre sometimes. Eating out was always an adventure.

 

CONS: The weather. My mother sent me a clipping one year from the Trib: On July 4th, at Oak Street Beach, it hit 107. On the waterfront.

I remember it hitting -29. Not the wind chill. The noises the Lake made were incredible.

 

I also got incredibly depressed. My apartment building had parking, but it took 20 minutes lead time to get the car. Driving anywhere in the city proved difficult at best (though I daresay that Chicago is a perfect city for Uber).

 

I didn't find it that expensive, but that was after Boston, which is just downright ridiculous at this point.

 

SUMMARY: Chicago's great, but for six to eight seasons of the year, ya gotta stay indoors, or at least significantly insulated. And I know very few people there anymore. I'm retired in place in Central Massachusetts, which isn't too bad, except for years like 2015, when we had three feet of snow that lasted the entire winter.

 

Anyone willing to comment on Fort Myers florida, or Tucson, AZ?

Your pros and cons list is very accurate. Yes, the winters here in Chicago can be brutal and long but I've lived through 2 of them since moving here and coped pretty well. On terrible days, I stay in and read or watch movies - that's the lovely thing about retirement: you don't have to brave the weather to get to a job or an appointment. If it's a crappy day, I make a big pot of tea, find a good movie, put on some warm socks and a sweater and settle in! We've had a very hot summer this year with temps in the 90s and "feels like" temps over 105. I have an a/c unit in the bedroom and retreat there when it gets intolerable in the living room but for the most part, I haven't suffered at all. I'm at the lake on most hot days. The water temp has hovered between 74 and 78, so it's delightful. There are shade trees under which I can sit and read when I've had too much sun, and when I get home, I turn on the a/c and watch the news. I love Chicago and have not regretted moving here for 1 instant.

 

The most important philosophical advice I can give regarding retirement is make sure you don't get bored. I took me about a year to find a routine and activities that kept me happily and productively occupied. The first couple of months after the dust had settled, everything was in place and I could sit back were rough. I just didn't have enough to do and friends recommended that I find a part-time job to fill the time but I retired from work so I wouldn't have to work! It's a cliche, but I found volunteering to be a terrific solution. I also take classes (I'm a 5 minute walk from Loyola University), and tutor. I don't have a wide circle of friends and I miss that but at my age, I find it's difficult to make new friends. I don't have much of a presence on social media and don't want to, so I'm not as "plugged in" as I probably should be. The people I've met always say, "I'll text you" but hardly ever do. In my day, (God, I sound like a codger!!) people said, "I'll call you" and they generally did. I miss answering services and answering machines!

[Rudynate]

I miss answering services and answering machines!

 

Time was when people hated answering machines. They (including me) would not leave messages if they got an answering machine. I know a few people who still use them and they seem positively quaint.

[+ bigjoey]

 

 

The most important philosophical advice I can give regarding retirement is make sure you don't get bored. I took me about a year to find a routine and activities that kept me happily and productively occupied. The first couple of months after the dust had settled, everything was in place and I could sit back were rough. I just didn't have enough to do and friends recommended that I find a part-time job to fill the time but I retired from work so I wouldn't have to work! It's a cliche, but I found volunteering to be a terrific solution. I also take classes (I'm a 5 minute walk from Loyola University), and tutor. I don't have a wide circle of friends and I miss that but at my age, I find it's difficult to make new friends. I don't have much of a presence on social media and don't want to, so I'm not as "plugged in" as I probably should be. The people I've met always say, "I'll text you" but hardly ever do. In my day, (God, I sound like a codger!!) people said, "I'll call you" and they generally did. I miss answering services and answering machines!

 

At 70, I continue to work part time. It gives structure to my week and forces me out of bed in the morning to get to work at 8:30 Monday to Friday. I am taking a class to continue my education (I have a friend who got a masters degree at 90!); never too old to stop learning. Most of my time is spent volunteering; great satisfaction to help others as I was helped and great socialization (made close friends from fellow volunteers). Plus bought a "small" business with two friends that is "fun" and makes a little extra money as well. Keeping busy and socializing is good for a person's health. I am too busy to be bored.

[Rod Hagen]

If I wanted to live in Boystown/WeHo, I'd need $2.2 million to afford this 1380 square foot dump, which is smaller than my townhouse...

http://www.zillow.com/homes/for_sale/West-Hollywood-CA/pmf,pf_pt/20517994_zpid/48424_rid/34.092322,-118.376795,34.078301,-118.397051_rect/15_zm/

 

My guess is that one's likely to be a tear down for yet another apartment complex.

[marylander1940]

Your pros and cons list is very accurate. Yes, the winters here in Chicago can be brutal and long but I've lived through 2 of them since moving here and coped pretty well...

 

Have you ever thought/recommended Milwaukee as a cheaper choice for retirement?

[+ bashful]

I lived in a close in suburb of Chicago when working there. Despite the weather (get yourself an attached heated garage if you're going to have a car in winter), it does have a lot of positive points for retirement. As mentioned, no income tax on pensions or social security, although, with its budget problems, who knows if that will last. Also, great medical care, sports, entertainment, restaurants, culture, and a diverse population. If not actually living in the city (which will save a ton of money on car insurance, and possibly rent or property taxes), living near one of the many commuter rail stations gives easy access to the city without having to deal with traffic. And with O'Hare, you're a non-stop flight away from most anywhere in the world.

[MikeyGMin]

just guessing here, but isn’t the homestead exemption quite generous or perhaps even unlimited in Texas and Florida?

 

Unless I am really uninformed and screwing up, the homestead exemption in Texas simply knocked $25,000 off the appraised value of my house. You can only have one for your primary residence, and you must be a full-time resident on January 1st of each year. As far as I know it does nothing to protect you from liens, lawsuits or anything else. It just lowers your taxes ever so slightly.

[+ MasssageGuy]

Unless I am really uninformed and screwing up, the homestead exemption in Texas simply knocked $25,000 off the appraised value of my house. You can only have one for your primary residence, and you must be a full-time resident on January 1st of each year. As far as I know it does nothing to protect you from liens, lawsuits or anything else. It just lowers your taxes ever so slightly.

"The Florida homestead exemption exempts homestead property from levy and execution by judgment creditors. In Florida, our home is truly our castle, a castle that is impenetrable by creditors as established by Article X, Section 4 of the Florida Constitution. This means that a creditor cannot force the sale of your homestead to satisfy a judgment. Florida courts have liberally expanded definitions of homestead property to include more than just a single family house. Condominiums, manufactured homes, and mobile homes are also afforded homestead protection."

 

It will knock off $50,000 from value for married couple here in Florida. More importantly, once homesteaded, the "Save Our Homes" kicks in which limits assessment increases to 3% or CPI which ever is less. Granted, it won't save you from increase in the mil rate, but you won't take a hit from home price appreciation.

 

Here is a link explaining Florida's Property Tax for Homestead and Seniors...

 

http://dor.myflorida.com/dor/property/taxpayers/exemptions.html

 

There is a reason 1,000 people a day are moving to Florida....

[+ Charlie]

Unless you actually have to choose your retirement location based solely on cost, I don't think that should be the primary concern. Look for a place that will give you pleasure in your surroundings first, because they are going to become much more important than they were when you were working fulltime. At first you will want to take maximum advantage of your new free time, to do all sorts of things that you told yourself you would do when you didn't have to go to work, but gradually you will find yourself spending more and more time just relaxing at home. I never paid much attention to the natural world outside my windows when I was employed, but now I find that the views really matter to me--for the first time in my life, I am very aware of the changing patterns of the sky, the sun, moon and stars, the cloud shadows on the mountains, the birds, etc. I look at the trees and plantings and buildings as I go for slow walks with the dog. I am intensely aware of the weather at all times.

 

Unless you are obsessive about sex, you will find that the availability of escorts/masseurs/pick-up spots becomes less important than finding sympathetic friends and acquaintances of any sexual orientation, and social activities that you enjoy. It is also important to establish a support network of some sort in a new location, so think about how you will find medical care, lawyers, accountants, repairmen, etc., if you can't continue to use those you already have. Don't forget that you will have to replace things you take for granted now, like your favorite stores and restaurants.

 

You may even decide that you would rather just stay in the area where you already live, but change your residence in order to achieve the sense of something new in your living situation.

[sincitymix]

For a person with moderate earnings in retirement from SS, 401(k) & IRA, is Las Vegas or Reno a good option?

i live in vegas. i like it, it does have its short comings, but its only hours from multiple states and cities and national parks.. and no state tax

[klifhangar]

Retire? What is that? Having your last child in your 40's then an extremely expensive divorce tends to shut that thought down.

 

I think I will likely remain in the NW, as I suspect most of my kids/grands will be here. However.. I would prefer some place warmer so I might get selfish in my old age. I do like Florida and would consider moving there.

[+ tristanbaldwin]

i want to retire under tristan baldwin... or kurtis wolfe...

but im going to retire in my house that is paid for.. might not have any water left in vegas by then.. but meh.

Don't threaten me with a good time! When is this day coming; I may retire with you!!!!!