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Retirement home in Vermont or New Hampshire
Old 08-29-2020, 08:58 AM   #1
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Retirement home in Vermont or New Hampshire

Born in New England (Needham, Ma) but spent my entire *orking life in Ohio. Still in Central Ohio, where my wife grew up. I have been retired 5 years so far, she still *orking for another 2-3 years. Initially was thinking of moving to Asheville NC for cooler summers and lots of active retirees nearby, but now wondering about Vermont or New Hampshire. Anyone out there whoís done this would you please share your thoughts? Pros and cons?
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Old 08-29-2020, 03:29 PM   #2
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Quote:
Originally Posted by Al in Ohio View Post
Born in New England (Needham, Ma) but spent my entire *orking life in Ohio. Initially was thinking of moving to Asheville NC for cooler summers and lots of active retirees nearby, but now wondering about Vermont or New Hampshire.
I know Needham. VT is paying some people 10k to move there, to work remotely, iirc.
Start advising people online

I'd certainly "rent" somewhere 8-12mo. before going all in!
Things change as you well know.
Good Luck & Best wishes.....
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Old 08-29-2020, 03:56 PM   #3
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We were born and raised in Vermont, went to Boston area for about 6 years for school/work and have lived in Vermont since. Moved into our lakefront home in 2011 and retired soon thereafter.

When I was working and living here I used to say that the great summers here are our dividend for tolerating winter.... but now I don't stay here for winters but still get the great summers.
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Old 08-29-2020, 04:01 PM   #4
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We raised our kids in Vermont and now are snowbirds - Southern Utah winters and Vermont summers.

Pros:
glorious summers
beautiful rural areas
lots of outdoor opportunities
nice people
great schools (doesn’t matter if you are retired)
Has done a good job with covid
Some nice smaller cities/towns - Burlington, middlebury, Montpelier, etc.
Good ACA insurance options - good coverage and no age based pricing
lots of interesting people from all over end up in vermont - from somalia to wall street

Cons
Winters are long, cold and gray
it is expensive - COL and taxes are high (see good schools)
large airport are typically a couple hours or more away (Montreal - if border is open, Boston)
lack a robust job market

Another factor is political climate which may or may not be your cup of tea.

Rent and spend a year here and decide. Good luck with your search.
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Old 08-29-2020, 06:09 PM   #5
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I often here that taxes are much higher in both NH and Vermont.

We migrated to Maine after I retired, so obviously we do not pay income taxes, and our property taxes are fairly low. [2400 sq ft house on 150-acre farm We have been paying around $800/year in taxes. Though right now with COVID-19 spending our state is broke and our governor may need to raise our property taxes to get through the rest of this pandemic].
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Old 08-29-2020, 08:10 PM   #6
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We migrated to Maine after I retired, so obviously we do not pay income taxes
Why would that be obvious? IIRC, you have military pension, and IIRC Maine does not levy tax on those? But Maine does have a normal tax on other income, right?
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Old 08-29-2020, 08:19 PM   #7
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Why would that be obvious? IIRC, you have military pension, and IIRC Maine does not levy tax on those? But Maine does have a normal tax on other income, right?
I personally would not wish to settle anywhere that taxed my income.

My other income streams I am able to keep sheltered from taxation.
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Old 08-30-2020, 04:12 PM   #8
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We are retiring in Exeter, NH. It is a relatively small town but, vibrant with some colonial history to it. And don't forget the Aliens !! (Incident at Exeter)
Property tax is high but, otherwise great area to live. Near the seacoast. (7mi to ocean), Portsmouth and Maine are close, and the White Mountains are reachable for day trips.
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Old 08-30-2020, 04:40 PM   #9
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Originally Posted by jabbahop View Post
We raised our kids in Vermont and now are snowbirds - Southern Utah winters and Vermont summers.

Pros:
glorious summers
beautiful rural areas
lots of outdoor opportunities
nice people
great schools (doesnít matter if you are retired)
Has done a good job with covid
Some nice smaller cities/towns - Burlington, middlebury, Montpelier, etc.
Good ACA insurance options - good coverage and no age based pricing
lots of interesting people from all over end up in vermont - from somalia to wall street

Cons
Winters are long, cold and gray
it is expensive - COL and taxes are high (see good schools)
large airport are typically a couple hours or more away (Montreal - if border is open, Boston)
lack a robust job market

Another factor is political climate which may or may not be your cup of tea.

Rent and spend a year here and decide. Good luck with your search.
We lived (as retirees) in VT for 8 years. I generally agree with all the points above (at least those that applied to us.) In retrospect, we probably selected a too rural area with too much land to care for. So when we decided to relocate we also decided to leave VT to come back to MA. (A large part of that decision was to be closer to family in MA.) We have many fond memories of our time in VT. Often wonder if we would have stayed there if we'd originally bought closer to Burlington or Montpelier (we weren't too far from

Feel free to PM me with any specific Qs.
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Old 08-30-2020, 06:41 PM   #10
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NH/Vermont have great summer weather, but the winters are very long. Make sure you give that a lot of thought before you retire in a place like that. I'm in Michigan, and the summers are great here too, but as I got older, the winters became harder and harder to tolerate. So now we snowbird to the South for 5 months, which works for us. I would not want to spend the whole winter in Michigan anymore, but I don't want to spend summers in the deep South, either.
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Old 08-31-2020, 10:25 AM   #11
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We were born and raised in Vermont, went to Boston area for about 6 years for school/work and have lived in Vermont since. Moved into our lakefront home in 2011 and retired soon thereafter.

When I was working and living here I used to say that the great summers here are our dividend for tolerating winter.... but now I don't stay here for winters but still get the great summers.


Thatís what I remember about growing up. Great summers with clear skies. I wonder if we could stand the winters or would need to snowbird.
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Old 08-31-2020, 11:15 AM   #12
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Live in SW NH. moved here in 1988 from MA.

We love it here and still enjoy winter activities. September is my favorite month cool nights, warm days, no bugs etc.
Overall we have fared very well here financially.
20 years plus of no income or sales tax has saved us over $200,000 in state taxes. There are taxes on dividends to consider (5% after the first $2400) Our real estate taxes in this town have been slightly over comparable MA towns but not much. NH RE taxes are known to be high but it varies considerably from town to town. We have been lucky.
Having said that if you don't like winter you would have to snowbird or own a second home in a warm locale.
So far we both love winter but it could change when we get into our 70's and beyond. I hope not but we would still stay here 8 or 9 months a year and snowbird the rest.
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Old 09-01-2020, 10:10 PM   #13
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Originally Posted by Offgrid Organic Farmer View Post
I often here that taxes are much higher in both NH and Vermont.

We migrated to Maine after I retired, so obviously we do not pay income taxes, and our property taxes are fairly low. [2400 sq ft house on 150-acre farm We have been paying around $800/year in taxes. Though right now with COVID-19 spending our state is broke and our governor may need to raise our property taxes to get through the rest of this pandemic].


Interesting. Pethaps we should also consider Maine.
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Old 09-01-2020, 10:15 PM   #14
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Live in SW NH. moved here in 1988 from MA.

We love it here and still enjoy winter activities. September is my favorite month cool nights, warm days, no bugs etc.
Overall we have fared very well here financially.
20 years plus of no income or sales tax has saved us over $200,000 in state taxes. There are taxes on dividends to consider (5% after the first $2400) Our real estate taxes in this town have been slightly over comparable MA towns but not much. NH RE taxes are known to be high but it varies considerably from town to town. We have been lucky.
Having said that if you don't like winter you would have to snowbird or own a second home in a warm locale.
So far we both love winter but it could change when we get into our 70's and beyond. I hope not but we would still stay here 8 or 9 months a year and snowbird the rest.


Living in Ohio and remembering winters in Mass Iíd say our winters are both milder and a month shorter. I have found I still prefer to escape February and March by driving to FL and stay with snowbirds in a condo each year the last 3 years. I donít mind a small amount of winter, but itís nice to escape most of it.
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Old 09-02-2020, 04:32 AM   #15
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I'd certainly "rent" somewhere 8-12mo. before going all in!
+1
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Old 09-02-2020, 06:15 AM   #16
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Living in Ohio and remembering winters in Mass Iíd say our winters are both milder and a month shorter. I have found I still prefer to escape February and March by driving to FL and stay with snowbirds in a condo each year the last 3 years. I donít mind a small amount of winter, but itís nice to escape most of it.

Sounds like a plan.


We lived in MA growing up in the 60's and 70's (and 80's) were you there in the infamous blizzard 0f '78? it was certainly interesting.
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Old 09-02-2020, 06:17 AM   #17
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Interesting. Pethaps we should also consider Maine.
We have some friends who moved from Vermont to Maine and they say that Maine taxes are brutal.
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Old 09-02-2020, 06:20 AM   #18
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I wouldnít let taxes be a primary factor in where I retired.

If you are subject to any significant income tax it means you have some money and the taxes alone wonít make or break your retirement financially

What will make or break it is retiring in a location that offers the people, activities , weather and amenities that allows you to have a fulfilling retirement
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Old 09-02-2020, 06:45 AM   #19
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We have some friends who moved from Vermont to Maine and they say that Maine taxes are brutal.



Yes and in NH the total would only be the $16334. No state income tax.
Also no state sales tax. 6% in VT and 5.5% in Maine.
When your income is double that you double the savings (obviously).

Of course in retirement the advantage could be less as you most likely would have much lower taxable income and may have income sources that receive favorable treatment.
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Old 09-03-2020, 03:17 PM   #20
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I wouldnít let taxes be a primary factor in where I retired.

If you are subject to any significant income tax it means you have some money and the taxes alone wonít make or break your retirement financially

What will make or break it is retiring in a location that offers the people, activities , weather and amenities that allows you to have a fulfilling retirement


Good point. Thanks
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