Good Places to Retire

[danh]

Hello,

My wife and I live in the SF Bay Area. I am 51 and my wife 50. We have a Net Worth of appoximately $1.6M. $1.1M is in a mix of 401K, IRA's and Mutual Funds. We have about $500K in home Equity which includes our Primary Residence in the SF Bay Area and two Rental Properties in Fresno, Ca.

Our plan is to work another 5 years, sell our three properties and retire outside of the Bay Area. If we stayed in the SF Bay Area we would have to wait 10 years to retire which does not work for us( We have a $3K/month mortgage in addition to large maintainence costs).

We plan to spend our vacation time visiting possible retirement area. Can suggest great areas to retire? Must be a low crime area and a fairly warm climate.

Thanks.

 

[REWahoo]

Hello danh. I see this is your first post, so welcome to the forum. Sounds like you are in good shape and nearing your FIRE point.

There have been several threads on the subject of where to retire. Here is a recent one:

http://early-retirement.org/forums/index.php?topic=11568.0

I'd suggest you use the search button to look for other threads, then go from there with questions. You will find lots of suggestions and opinions on what qualifies as "good".

 

[Cut-Throat]

Have you thought of just heading north a couple hundred miles?

 

[d0ug]

Have you considered living out side the US? I am a little predigest for the Dominican Republic because I found it very pleasant here. Very reasonable to live here and the countryside is very safe. Stay away from the touist areas.

 

[Donzo]

Have you thought of just heading north a couple hundred miles?

Or east around a hundred? The foothills of/ and the seirras are a great place.

 

[califdreamer]

We plan to spend our vacation time visiting possible retirement area. Can suggest great areas to retire? Must be a low crime area and a fairly warm climate.

Thanks.

Hi danh,

I'll throw out a couple of ideas.

The Tucson area has a lot to offer. I understand crime can be a factor in Tucson proper but I've heard some good things about Oro Valley, a nice area in the Catalina foothills on the far, far NW side of Tucson. Trade off is you would have to drive further to get to cultural/entertainment amenities in town.

The vast Phoenix metro area has some nice spots. Scottsdale, of course. North of there the foothill communities of Cave Creek and Carefree. East of Scottsdale... Fountain Valley. Chandler and Gilbert are nice suburban communities in the SE corner of the metro area.

Austin and the hill country towns of Central Texas. Warm climate, lots of fun, friendly. But there's that darn humidity and it's not close to the West Coast (don't know if you prefer CA or neighboring state).

 

[REWahoo]

Austin and the hill country towns of Central Texas. Warm climate, lots of fun, friendly. But there's...

...scorpions, rattlesnakes, killer bees, mosquitoes, ticks, chiggers, tarantulas, copperheads, cottonmouths, rabid skunks, wild hogs, oppressive heat & humidity, bleak desolate scenery, dirty beaches, polluted air, drought, wildfires, water shortages, recurring floods, rednecks, unbelievably high property taxes, and lack of real estate appreciation.

 

[unclemick]

...scorpions, rattlesnakes, killer bees, mosquitoes, ticks, chiggers, tarantulas, copperheads, cottonmouths, rabid skunks, wild hogs, oppressive heat & humidity, bleak desolate scenery, dirty beaches, polluted air, drought, wildfires, water shortages, recurring floods, rednecks, unbelievably high property taxes, and lack of real estate appreciation.

Keep trying - my neighbor took his Mother to Texas - San Antonio I think until North Missouri warms up.

heh heh heh - wasn't clear whether they snowbird every year or not. I trying to remember - the most 'Winter Texan' plates were Iowa or Kansas when we were RV'ing.

heh heh heh

 

[califdreamer]

...scorpions, rattlesnakes, killer bees, mosquitoes, ticks, chiggers, tarantulas, copperheads, cottonmouths, rabid skunks, wild hogs, oppressive heat & humidity, bleak desolate scenery, dirty beaches, polluted air, drought, wildfires, water shortages, recurring floods, rednecks, unbelievably high property taxes, and lack of real estate appreciation.

There he goes again....

Happen to stumble across article this afternoon that listed these as "Top 10 value cities for retirement":

1. Hot Springs, AR
2. Winston-Salem, NC
3. Fayetteville, AR
4. Bowling Green, KY
5. Lawrence, KS
6. Columbia, MO
7. Pittsburgh, PA
8. Gainesville, FL
9. San Antonio, TX (fire ants, scorpions and all)
10. Colorado Springs, CO

No offense to Kentuckians but I think a move from SF to Bowling Green would be less than ideal.

 

[2B]

When I lived in Kentucky I had a 2% asset tax shoved in my face about 25 years ago. It was so horrible that I changed jobs and moved out of state. I hope they fixed that tax or I'm wondering if anyone in the state has any assets.

 

[JOE_PANAMA]

this is PANAMA

Electricity $44
Direct TV, telephone & internet $90
Water $6 to $8 - if you are renting the home owner pays the water
Medical Insurance for ONE year about $1,000.00
Car insurance for ONE year $600.00
Doctor Visit with insurance, co payment $7.00
Medicine varies. It is cheaper compared to the States

Panagas small tank $5.25 - will last for ONE month. Big tank $54 - will last for SIX months
Meal at local restaurant "El Sobreson" average $2.50
Video rental $2
3 bananas $.10
One pound of Langostino (Jumbo shrimp) $7
Gasoline prices are low right now at $2.51 per gal to $2.73 per gal
If you have pets it is very inexpensive here in Boquete and David.

Regarding homes and lots here in Boquete , when we first arrived here in Boquete we bought
our lots (we bought 2 side by side) for $25.00 per sq. meter. We have a little over 20,000 sq
feet. We are building our house of 289 sq meters ( 3,100.97 sq feet), single story. Our cost
will be $125,000.00. The cost in California would be over $900,000.00. The total we paid for
both lots and house would be $175,000.00. However since we have moved here and spent
10 months, watching new people arrive, the prices have increased for lots up to $55.00 per sq
meter. You can still find less expensive lots here depending on where it is. Potrerillos and
Volcan Baru (both beautiful) you can find lots as low as $15.00 per sq meter. The weather in
both places is cool, like Boquete. Of course the beach areas are more expensive, but have
been told you can find lots as low as $30.00 per sq meter, Las Lajas, Horcancito, etc. and the
weather is a lot warmer there. In David we have a new TGIF, Price Smart, KFC,
McDonalds, Do It Center (prices are U.S. prices), Furniture City (with Brand name furniture
like Ashly) very inexpensive, new Rey Market and they do stock U.S. products at U.S.
prices, but if you by their brand, very inexpensive.


[MODERATOR EDIT]

 

[Sam]

Joe, I thought in earlier posts, you said you bought a condo?

 

[BUM]

Hi danh, welcome aboard! Advice on where to retire is like recommending a putter to a golfer. Its just got to feel right on so many levels. Best you can do is read everything,and don't forget visiting can be half the fun.

I hate the magazine "Where To Retire". Sometime ago they featured my retirement location Pleasure Island, NC. It was very well read. Now its becoming overrun with people like me