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05-27-2015, 08:00 AM
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#41
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Location: No fixed abode
Posts: 8,764
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I'm sure all of you good citizens who live in no income tax states and shop in no sales tax states are duly reporting and paying the use taxes each April, so I don't think I'd let that determine where I want to live.
Also, I'm chiming in with those who say don't worry about the taxes, live where you want to. Keep in mind that you could move to Chicago from NYC and still be paying lower taxes. Anywhere you go you'll be paying less. So why worry about it?
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
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05-27-2015, 08:41 AM
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#42
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Recycles dryer sheets
Join Date: May 2008
Location: Treasure Coast
Posts: 472
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I am one of those who considers the tax situation when determining where to domicile. We recently changed from Illinois to Florida, although we still have the Illinois house and also have a very pleasant place where we spend the summers.
The fiscal situation in Illinois is a mess and will get much worse before it gets better. So, the current modest income tax will go higher. Also, at 16% the estate tax is a killer for us. I refuse to give $3+ million to Illinois instead of my heirs. Property taxes in FL are also reasonable compared to IL. The property taxes are about the same, even though the FL placee is worth 40% more than the one in IL. Sales taxes also lower in FL.
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05-27-2015, 09:11 AM
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#43
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Recycles dryer sheets
Join Date: Jun 2010
Location: Sac suburb
Posts: 437
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DH and I seriously considered relocating to WA state, particularly the Sequim area. We ultimately decided to stay in Northern California, although we'll likely visit the Olympic Peninsula a lot in the coming years. Taxes were not at all a factor in our consideration of WA state, btw, we simply like the area. Now that we're relatively wealthy, we're in a position to give back, and we don't waste our time freaking out over taxes. To each their own {shrug}.
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05-27-2015, 09:18 AM
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#44
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: Les Bois
Posts: 5,761
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Quote:
Originally Posted by Rosie
DH and I seriously considered relocating to WA state, particularly the Sequim area.
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We have a rental house in PA and two five acre parcels in Agnew, WA.
We bought the property after visiting the area in the late 90s.
Originally we had planned to retire there until we landed in paradise.
PA/Sequim is hard to beat...well except for the winter...
__________________
You can't be a retirement plan actuary without a retirement plan, otherwise you lose all credibility...
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05-27-2015, 09:54 AM
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#45
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Recycles dryer sheets
Join Date: May 2015
Location: Country
Posts: 140
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I have lived in Texas all my life, retired recently. True we do not have a state income tax, but the old saying from the good Texans that state "you never own your property you just lease it from the state" is there for a reason. I probably will not leave Texas due to family ties etc but as several have mentioned live where you want because life is too short. We have our share of fees & other taxes to make up for the non state income tax at times IMO.
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05-27-2015, 10:36 AM
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#46
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Dryer sheet wannabe
Join Date: May 2015
Location: Gardiner, NY
Posts: 12
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Quote:
Originally Posted by catman2020
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I looked into this program recently and PR may be great for a vacation, but to have to live there at least six months out of every year may be too much. Once you leave your locked down resort, the crime rate in PR is very high. Would love to hear from some people that have actually done it though as crime statistics can be misleading.
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05-27-2015, 10:47 AM
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#47
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Thinks s/he gets paid by the post
Join Date: Feb 2012
Posts: 1,499
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Quote:
Originally Posted by Rosie
DH and I seriously considered relocating to WA state, particularly the Sequim area. We ultimately decided to stay in California, although we'll likely visit the Olympic Peninsula a lot in the coming years. Taxes were not at all a factor in our consideration of WA state, btw, we simply like the area. }.
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+1
We also considered and visited the area, but decided against it.
Like DayLate and Rosie, we think it is a beautiful area, but we know we cannot live there because of the weather. We are both solar powered.
I spent a lot of time reading another forum while looking for our next spot. The screen name of one CA transplant to that area is "thisplacesucks." 😳
We are staying put in CA. We pay relatively little in income and property tax here, and we have no kids so are not concerned with estate taxes.
__________________
Chief Retirement Strategist
The AR Group
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05-27-2015, 11:04 AM
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#48
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2013
Posts: 9,358
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A few lessons I learned from friends who either cashed out of a high COL / taxes area or stayed:
1. Watch for the Green Acres effect. If you are used to having highly educated urban friends and co-workers, you may not fit in well in a rural or blue collar area.
2. Consider all possible financial factors. Some of our friends that stayed after they retired came out way ahead financially after 10 years because of home appreciation.
3. If you move some place less interesting or a harsher climate, your travel budget may go up.
Taxes are a good consideration, but I'd look at factors like happiness, fitting in socio-economically and total expected net worth in 10 years or so. If you look at the research, nonmonetary factors such as having friends and being connected to the community are often bigger predictors for happiness than factors like taxes or income (after a certain point of affluence).
And for some people, levels of sunshine do matter:
http://www.huffingtonpost.com/2013/1...n_4014477.html
"new research implies the antidepressant benefit comes from exposure to ultraviolte rays that act on the skin to stimulate vitamin D production."
__________________
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
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05-27-2015, 11:46 AM
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#49
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by daylatedollarshort
A few lessons I learned from friends who either cashed out of a high COL / taxes area or stayed:
1. Watch for the Green Acres effect. If you are used to having highly educated urban friends and co-workers, you may not fit in well in a rural or blue collar area.
2. Consider all possible financial factors. Some of our friends that stayed after they retired came out way ahead financially after 10 years because of home appreciation.
3. If you move some place less interesting or a harsher climate, your travel budget may go up.
Taxes are a good consideration, but I'd look at factors like happiness, fitting in socio-economically and total expected net worth in 10 years or so. If you look at the research, nonmonetary factors such as having friends and being connected to the community are often bigger predictors for happiness than factors like taxes or income (after a certain point of affluence).
And for some people, levels of sunshine do matter:
Sunshine & Happiness Study Links Time Outdoors To Improved Mood
"new research implies the antidepressant benefit comes from exposure to ultraviolte rays that act on the skin to stimulate vitamin D production."
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All of these are very good points.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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05-27-2015, 02:16 PM
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#50
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Recycles dryer sheets
Join Date: Jun 2010
Location: Sac suburb
Posts: 437
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Quote:
Originally Posted by Accidental Retiree
Like DayLate and Rosie, we think it is a beautiful area, but we know we cannot live there because of the weather. We are both solar powered.
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Likewize. That was my biggest concern in relocating to the PA/Sequim area (even in the rain shadow), that and the relative remoteness. DH would be fine there, he's a hermit by nature, but I need a bit more sun & civilization.
That said, once we're settled in our new digs, we'll probably spend a good amt of time up there, it's waaay up on our Nice Place to Visit list (esp since it's a convenient ferry ride to Vancouver Island, which is #1 on that list). And thanks to the booming SF Bay area RE market, we'll have more set aside for travel than we originally planned.
Quote:
I spent a lot of time reading another forum while looking for our next spot. The screen name of one CA transplant to that area is "thisplacesucks." ��
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I didn't realize she was from CA.
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05-27-2015, 09:04 PM
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#51
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Thinks s/he gets paid by the post
Join Date: Feb 2012
Posts: 1,499
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Quote:
Originally Posted by Rosie
Likewize. That was my biggest concern in relocating to the PA/Sequim area (even in the rain shadow), that and the relative remoteness. DH would be fine there, he's a hermit by nature, but I need a bit more sun & civilization.
That said, once we're settled in our new digs, we'll probably spend a good amt of time up there, it's waaay up on our Nice Place to Visit list (esp since it's a convenient ferry ride to Vancouver Island, which is #1 on that list). And thanks to the booming SF Bay area RE market, we'll have more set aside for travel than we originally planned.
I didn't realize she was from CA.
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Yea, SoCal, not at all far from where we now live.
__________________
Chief Retirement Strategist
The AR Group
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05-28-2015, 07:24 AM
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#52
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Recycles dryer sheets
Join Date: Jun 2011
Location: W Colorado
Posts: 476
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In some of the larger cities health is reasonably available. If you are a vet there are VA hospitals in both Cheyenne and Sheridan. Some people prefer the "border" areas for access to more healthcare options (i.e. Evanston for access to Salt Lake City, Cheyenne for access to Ft. Collins or Denver).
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05-28-2015, 12:01 PM
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#53
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
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Quote:
Originally Posted by Fermion
I wouldn't bank on WA state being a no-income tax state for much longer. There are some rumblings about establishing a tax for higher earners that I think may gain legs.
I am not sure how much that catastrophe in Seattle with the giant tunnel boring machine is going to end up costing the state (hard to imagine Seattle eating the whole cost overrun) and there are other money sinks that sales tax may not keep up with.
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Income tax in WA is a third rail, just like sales tax in OR. It is not impossible, but unlikely IMHO. Both states may be far left, but so much that they have left their brains on the floor in the voting booth--yet.
__________________
I have outlived most of the people I don't like and I am working on the rest.
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05-28-2015, 12:09 PM
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#54
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
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With respect to Sequim, I understand that there is a relatively high turnover in property there because folks move there to take advantage of the lowest rainfall in the state (in the rain shadow of the Olympic Mountains) but they get bored after a while.
As to the Olympic Peninsula, it is pretty rural for my taste and has a true rain forest in it. We love to visit, but we wouldn't move there.
There are many really attractive areas in WA which are away from the urban sprawls but they have a disadvantage of being remote from the better health care centers as well. Here in Bellingham we have a great health care center. One problem for retirees is that it is hard to find a primary physician who will take new Medicare patients, but I suppose that is everywhere.
__________________
I have outlived most of the people I don't like and I am working on the rest.
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05-28-2015, 01:45 PM
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#55
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 7,111
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Quote:
Originally Posted by Ed_The_Gypsy
With respect to Sequim, I understand that there is a relatively high turnover in property there because folks move there to take advantage of the lowest rainfall in the state (in the rain shadow of the Olympic Mountains) but they get bored after a while.
As to the Olympic Peninsula, it is pretty rural for my taste and has a true rain forest in it. We love to visit, but we wouldn't move there.
There are many really attractive areas in WA which are away from the urban sprawls but they have a disadvantage of being remote from the better health care centers as well. Here in Bellingham we have a great health care center. One problem for retirees is that it is hard to find a primary physician who will take new Medicare patients, but I suppose that is everywhere.
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I second Bellingham as a nice community but don't know the price of land. Check to see if Group Health's Medicare Advantage plan is available.. no problem then with finding a PCP who accepts Medicare.
One advantage of Clark County (and probably the other SW counties I mentioned) is that both Kaiser and Providence have top rated Medicare Advantage plans. Portland also has a large Veteran's Hospital, ancillary clinics in Vancouver, WA.
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Duck bjorn.
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05-29-2015, 06:22 PM
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#56
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Recycles dryer sheets
Join Date: Feb 2014
Posts: 188
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New Hampshire is pretty close to NYC if you want to stay in the Northeast - no sales or income tax
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05-29-2015, 06:24 PM
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#57
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Dryer sheet wannabe
Join Date: May 2015
Location: Gardiner, NY
Posts: 12
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Quote:
Originally Posted by LastOfTheBoomers
New Hampshire is pretty close to NYC if you want to stay in the Northeast - no sales or income tax
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Ruled NH out long ago. Pretty state but long cold winters.
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05-29-2015, 10:35 PM
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#58
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by LastOfTheBoomers
New Hampshire is pretty close to NYC if you want to stay in the Northeast - no sales or income tax
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That must be some unusual definition of pretty close.
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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05-30-2015, 06:10 AM
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#59
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2007
Posts: 13,202
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Quote:
Originally Posted by javeline86
Ruled NH out long ago. Pretty state but long cold winters.
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And Wyoming doesn't? LOL. Well, you did say you liked desert type areas more. Maybe look at hill country in Texas, west of Austin and San Antonio. I don't know enough about the towns to recommend any specific one.
One thing you've already learned about this forum, you can ask specific questions but that doesn't stop people from chipping in with whatever they want to answer. I swear you could ask what 2+2 is, and before you get your answer someone will give you the answer to 3+3, another person would say you should really concern yourself with subtraction, and someone else will tell you how cool multiplication is.
That said, the comments about not letting taxes dictate where you go seem right to me. Or at least be sure to consider the whole tax picture. Even though your income sounds like it'll still be high, I'd think it'll be a lot less than it was. But, if paying taxes is going to bug you and you can find a great area you love in a tax-free state, go for it.
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05-30-2015, 08:06 AM
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#60
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: Les Bois
Posts: 5,761
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Quote:
Originally Posted by RunningBum
And Wyoming doesn't? LOL. Well, you did say you liked desert type areas more. Maybe look at hill country in Texas, west of Austin and San Antonio. I don't know enough about the towns to recommend any specific one.
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Ah the myth of the TX hill country.
Every bit as hot as the coast and every bug that bites lives there.
WY is pretty brutal. Harsh wind and cold most of the year.
OP have you considered tri-cities WA? Way better climate, no state income tax.
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You can't be a retirement plan actuary without a retirement plan, otherwise you lose all credibility...
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