CRLLS
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You are, of course, correct! I will blame it on not having finished my 1st cup of coffee. 
Illinois ???
- Thread starter militaryman
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Ready-4-ER-at-14
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On thing I have noticed about Illinois is that there are not grocery coupons like we had in another state. Not a big deal, and every store seems to have specials and may have some online coupons, but not like the newspapers used to have and easy to compare.
I would carefully check out crime statistics where ever you think you are going as some of the big city stuff has gone more rural.
Regarding the state's financial health, the state got a huge financial bandaid during the covid bailout and the governor has been bragging about the surplus in the budget. A new casino in chicago will supposedly go toward pension shortfalls, but every new taxing scheme claims that and the problems persist.
I would carefully check out crime statistics where ever you think you are going as some of the big city stuff has gone more rural.
Regarding the state's financial health, the state got a huge financial bandaid during the covid bailout and the governor has been bragging about the surplus in the budget. A new casino in chicago will supposedly go toward pension shortfalls, but every new taxing scheme claims that and the problems persist.
CRLLS
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Like when they said that the Lottery income would go to the state school fund. Well, it technically did. And an equal amount that was normally funded by the general budget was removed. I know it is just paper transactions. It appears that the Illinois leaders have learned the "Money is fungible" phrase and taken it to a new level. I will wait to find out how they will screw up this new casino tax.
OldShooter
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@militaryman, WADR I think you came here, consciously or unconsciously, looking for ratification and support for your plan to move to IL. You're not getting that unanimously, but my sense is that you're pretty much locked into the decision. So be it. It's your life. But assuming you go ahead I would suggest renting rather than owning a home. Between the out-migration trend and the state financial overhang, I would be afraid that a house would be a depreciating asset and a major mobility hindrance if at some point you decide to bail out of Illinois.
Good Luck.
For a similar house, you're probably going to have to pay a lot more in other states that qualify than in Illinois. I know that when I looked at the possibility of moving out of Illinois, it was going to cost a lot more for a decent house, and it's actually gotten even more expensive elsewhere over the last few years compared to here. You can check out housing on realtor.com for the specific areas you are interested in.
Certainly.
We live in northern Kentucky, just across the river from Cincinnati.
No state tax on pensions or retirement account withdrawals.
Less than an hour's drive to WPAFB, a huge Air Force base that will never close.
Great healthcare here, with lots of good, big hospitals.
Property tax is very reasonable. In my county it's less than 1% of assessed valuation.
Here is a map that will let you compare property tax (in a rough way) across the country:
Property taxes: How does your county compare?
But I think the main point is that deciding where to live is an intensely personal choice. There is no way that a mechanical formula will give the right answer because you're the only one who knows what you're comfortable with.
The thing to do is travel around and spend at least a few days in every place that makes your list, preferably at two different times of the year. Then, once you've narrowed down your list, rent for a while until you learn the precise area you like best.
militaryman
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Definitely agree, try before I buy! I'm about 2.5 years from retirement so I have much time to explore and learn.
Mr._Graybeard
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I like college towns -- they have a vitality that many smaller cities lack, particularly in Illinois. Sooo ... on the Illinois side of the St. Louis metro area, I'd consider Edwardsville.
street
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LOL!!!
Not sure I have a fourth type, but I enjoy those beautiful winter days. So many outdoors activities to do in the winter that are relaxing and so enjoyable.
Mulligan
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I dont know if you are aware of it, but MO does have a tax benefit for military pensions. But you would have to do the math. My pension is a public one and I get equivalent of max SS income tax free on my pension. Something like the first 35k or so tax free. The Columbia Ill -Waterloo Ill is quite nice. I frequent over there some. Definitely dont buy gas over there though, ha.
https://myarmybenefits.us.army.mil/Benefit-Library/State/Territory-Benefits/Missouri
Gearhead Jim
Full time employment: Posting here.
An interesting comparison-
We are retired in one of the distant suburbs of Chicago. A couple we are friends with had retired from the same company about the same time, lived only a mile from us. our financial situations were/are very similar. They did the math carefully and calculated that their overall cost of living would be about $500/month less near Phoenix (Chandler). So they moved, partly because of family there.
After they'd been there about 3 years, I asked about the cost of living comparison. They said it was a tie, overall living expenses there are the same as ours. Our high property taxes are offset, as others said, by no state tax on pensions/SS.
DW and I enjoy spending a couple of months each winter in AZ or FL, but don't want to live there.
YMMV
We are retired in one of the distant suburbs of Chicago. A couple we are friends with had retired from the same company about the same time, lived only a mile from us. our financial situations were/are very similar. They did the math carefully and calculated that their overall cost of living would be about $500/month less near Phoenix (Chandler). So they moved, partly because of family there.
After they'd been there about 3 years, I asked about the cost of living comparison. They said it was a tie, overall living expenses there are the same as ours. Our high property taxes are offset, as others said, by no state tax on pensions/SS.
DW and I enjoy spending a couple of months each winter in AZ or FL, but don't want to live there.
YMMV
GravitySucks
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I visited your fair city once. While it was an outstanding place I could never live in that climate. Late September and I couldn't walk 2 blocks without being soaked in sweat. I'd much rather deal with CNY snow and cold.
Different strokes....
(I'm still thinking of visiting again this winter. The food and music is so great I'll deal with the humidity.)
youbet
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You were smart to flee Indiana!
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ERD50
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Hah - that one puzzled me too.
I sometimes don't recall the background details of a poster, but I do recall Midpack's prior location was "Chicago-land", and I do recall that he was in Indiana (which can be legitimately referred to as Chicago-land, the nearby areas get Chicago TV stations, etc). The Chicago-land monicker, but residing in Indiana just stuck with me.
So how can you flee Illinois fiscal policy as an Indiana resident? Perplexing!
-ERD50
Why don’t we just stick to the thread topic …
Agree 100%
This was such a great answer I had to reply. My wife and I chose a very high cost state (Vermont) but with the lifestyle and environment we wanted. Couldn't be happier - even with the higher costs.
This was such a great answer I had to reply. My wife and I chose a very high cost state (Vermont) but with the lifestyle and environment we wanted. Couldn't be happier - even with the higher costs.
We've been in Edwardsville since 2014, and live adjacent to SIUE. Nice quality of life, lots going on in the community, and just 35-40 minutes or so to Scott AFB.
Mulligan
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Nice town! Will be venturing into your home turf this November to the Wildey Theatre to see John Waite again.
Northforker
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Our cemetery plots and headstone are in Illinois, we won't be moving back there until we are buried deep enough to avoid any more tax confiscation from Springfield. Maybe I should buy a BIG backhoe! We owned a farm that we enrolled in a federal conservation program, over the course of the next decade, our property taxes TRIPLED! We had a small house near that farm that we used as a base for hunting and family events worth about $75k, the taxes went from $600/yr to $2000/yr. WE were non residents and received ZERO benefits for those taxes
brett
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We have been retired for 12 years.
There are so many other important ingredients, IMHO, to the choice of a retirement location.
From my perspective the most important is how you like it, how you fit in, how it suits your lifestyle and your connection to relatives, friends, healthcare, etc.
Tax advantages would be fairly low on my list. Could be a decider when it comes down to the final pick on two or three equals of a short short list.
No point in saving tax dollars if you are not going to be happy OR if you would be much happier living somewhere else.
For us, at our age, is not about the money. It is about the experiences and the happiness.
After all...it is only money. And you cannot take it with you.
There are so many other important ingredients, IMHO, to the choice of a retirement location.
From my perspective the most important is how you like it, how you fit in, how it suits your lifestyle and your connection to relatives, friends, healthcare, etc.
Tax advantages would be fairly low on my list. Could be a decider when it comes down to the final pick on two or three equals of a short short list.
No point in saving tax dollars if you are not going to be happy OR if you would be much happier living somewhere else.
For us, at our age, is not about the money. It is about the experiences and the happiness.
After all...it is only money. And you cannot take it with you.
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My wife grew up in Trumball. Her father commuted daily into Manhattan for work. They lived in CT because it was cheaper than living in NY but CT has been one of the highest cost of living states in the country for years. Plus......it snows there!
Mike
Yup, CT's high COL is well-known. Our friends were long-time CT residents for career, but moved to New Hampshire upon retirement. Similar weather, better tax situation.
I have family living there for a few years, and I know they liked it. I had hoped to make it there to visit, but the years fly by so quickly that I never made it.
The HalfBreed
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I grew up in NJ, graduated HS in 73, 73-77 USAF then moved to Chicago in late 1977 to join the FAA....been here ever since, now in near western suburb of Chicago....14 miles from the Lakefront, MDW and ORD. Retired in 2012 (CSRS), just turned 67 and I LOVE Chicago and all it has to offer, including central location.
I can shovel show (110' driveway) but my 8.5 HP self propelled snow thrower does the job (otherwise, I can hire some to do the work as I age).
I only "shovel" about 4-6 times / year at most, many times even less than that.
You're right...Income is not taxed, I'm not taking TSP distributions but they will not be taxed when I do in about 5 years. I DO pay income tax on interest and dividends I get from outside mutual funds, but the home real estate tax credits whittle it down to about $300 state tax.
NJ as I've always said is a "Good place to be FROM". Most of my relatives are in NJ or PA (married children and or siblings) so I can go back to visit and go to "The Shore", have my hoagies and Philly Cheese Steaks etc.
Good Luck in your choice, I have friends who love Southern IL, but come up this way for summertime fun. I also have "The Dells" in WI too.
I can shovel show (110' driveway) but my 8.5 HP self propelled snow thrower does the job (otherwise, I can hire some to do the work as I age).
I only "shovel" about 4-6 times / year at most, many times even less than that.
You're right...Income is not taxed, I'm not taking TSP distributions but they will not be taxed when I do in about 5 years. I DO pay income tax on interest and dividends I get from outside mutual funds, but the home real estate tax credits whittle it down to about $300 state tax.
NJ as I've always said is a "Good place to be FROM". Most of my relatives are in NJ or PA (married children and or siblings) so I can go back to visit and go to "The Shore", have my hoagies and Philly Cheese Steaks etc.
Good Luck in your choice, I have friends who love Southern IL, but come up this way for summertime fun. I also have "The Dells" in WI too.
Bamaman
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I had a college buddy from Edwardsville (back in 1968.) At that time, they had a couple of great bars there--Vanzo's and The Grainery?? Vanzo's sold so much Budweiser that Augie Busch would personally come out and serve beer one night per year.
JoeWras
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When I was going to school in Champaign, we were always told the "real" party school was the other Southern at Carbondale.
The rumors were legendary.
