Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Retiring in Maine
Old 08-17-2005, 08:37 AM   #1
Recycles dryer sheets
Join Date: Oct 2003
Posts: 452
Retiring in Maine

I visited Maine (the Kennebunks and Portland) and loved the area, but seems a bit (or a lot) expensive. One store clerk says that Maine taxes it's citizens the highest in the nation.
So, my questions are: what is retiring to Maine like? cost of living? taxes on retirees ?, property and income taxes ?
thanks for any responses,
Ray (bennevis)

renferme is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Retiring in Maine
Old 08-17-2005, 11:10 AM   #2
Recycles dryer sheets
Kitty's Avatar
Join Date: May 2005
Location: Dunnville
Posts: 190
Re: Retiring in Maine

I checked it out thourghly; made four visits in less than two years and prospected for a home with acreage. I found that Mainers are nice although you will always be an outsider unless you were brought up there. No big deal as more and more NY, MA, CN, RI folks are moving in for either the long haul or for part-time living.

The prices for anything is going up fast, anything on the coast is high and headed for unreasonable. This is making the Mainers upset as they are being priced out of the market.

Yes, taxes are high there do a search on Maine taxes and you may come across a report done a few years ago that bears this fact out with charts and graphs. There is no good reason for it accept that the Mainers want it that way.

Maine is beautiful any season but the winters are long and travel can be a problem. Some folks live there part-time and therefore avoid the state tax system altogether.


>My blogs
Kitty is offline   Reply With Quote
Re: Retiring in Maine
Old 08-17-2005, 11:31 AM   #3
Thinks s/he gets paid by the post
Join Date: Jul 2003
Location: Pasadena CA
Posts: 2,717
Re: Retiring in Maine

Not by itself a problem but you will never be an insider. A friend moved there 20+ years ago and is still an outsider. One of the few places where you may need to be there three generations before you are a real insider. But that is part of the charm of the place. Also don't miss the two warm weeks in summer or you just missed all of summer.
I kind of like cold and like kayaking and I'm an outsider everywhere so Maine would work for me but really check it out. Its pretty but it really is a different kind of place.
T.S. Eliot:
Old men ought to be explorers
yakers is offline   Reply With Quote
Re: Retiring in Maine
Old 08-17-2005, 12:06 PM   #4
Recycles dryer sheets
Join Date: Oct 2003
Posts: 452
Re: Retiring in Maine

I don't really know what it means to "not be an insider", like so what, what does it matter ?
What I found out on my short vacation there, is that the median home price in Kennebunkport is a mere $800,000 ! !
But if you're not on the beach, say like the suburbs of Portland, won't the housing prices be more reasonable ?
I also found out that the islands off of Portland are becoming too pricey for many of the residents; property taxes are soaring and many people have to sell out.
As far as the weather - the summers are nice, but the winters might be to snowy for me. But, part time residency is appealing (if affordable).
renferme is offline   Reply With Quote
Re: Retiring in Maine
Old 08-17-2005, 01:38 PM   #5
Posts: n/a
Re: Retiring in Maine

I lived in Maine for 14 years.* Like any state, it has its pluses and minuses.* But please, please don't be seduced by the six week summer.* Also, Portland and Kennebunk are essentially suburbs of Boston, and the prices reflect that.* Don't confuse the southern coast with "Maine."

Poverty, and all the social problems that attend, is rife in Maine.* *The state regularly battles with Mississippi for lowest per capita income in the US.* However, Maine does not have the luxury of a low cost of living.* And as others have mentioned, the taxes (for those that declare anything) are the highest in the country.* I've always wondered if the harshness of life there contributed to the taciturn nature of the natives.*

That said, Maine can be stunningly beautiful.* Most who live there would never live anywhere else.* It doesn't strike me as an obvious retirement destination, though, unless you have a luxury of a second home.

  Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
What stops you from retiring early? bongo2 Young Dreamers 38 08-31-2007 12:02 AM
An actual GOOD article on retiring early slepyhed FIRE and Money 16 03-14-2007 03:03 PM
Mom is Retiring Vincenzo Other topics 5 03-04-2007 04:44 PM
Real retiring age of Spaniards highest ForeignExchange Life after FIRE 0 01-20-2006 07:58 AM
Retiring from the Military? FlowGirl Young Dreamers 11 09-17-2004 07:08 AM


All times are GMT -6. The time now is 07:51 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.