EatLeadCommie
Tommy Elrod
So I know a few of you are already in that spot, and more have hit 50 and are starting to contemplate a few years down the line in terms of states/locations for retirement. I'm in the contemplation stage, thinking maybe I can remote work at some point for another decade, then cash in my chips. Ideally, I could remote work where I wish to retire, and thus be all set up and ready when that day comes.
I may yet end up in Texas with its lack of income tax, etc, but I've been here long enough, frankly. I miss having actual seasons of the year, no longer enjoy the simmering summers, and DFW in particular has just turned into about 5 million square miles of concrete. If I do stay in the state, it won't be here-- maybe further east toward Louisiana or slightly west of Ft. Worth where there is some actual topography. And in those spots, one could easily get a little more bang for the buck too-- sell the overvalued DFW property and buy something in the sticks kind of idea.
The Carolinas are tempting, but it seems like NC is becoming a bit too full in recent years, with SC possibly following soon. NC (RDU area) seems to have become what Atlanta was 20 years ago, and what DC was before that). Really enjoy the idea of eastern TN somewhere where I can be not necessarily in the mountains, but among them-- good tax rates too. I don't know much about northern Alabama or Mississippi, though I've seen people settling there. I put those places in the same spot as southern Kentucky-- maybe something to look at closer.
OK, KS, MO, and AR would all give me more seasonal weather, but the tax rates are up there-- perhaps offset a bit by the cost of property. There are desirable places to live in all those states (believe it or not), but not to the extent of a Carolina or TN retreat, IMO. The midwestern weather can just be brutal too, with all the heat of Texas in some years and the usual cold winters. I don't think I'd be considering any of those states if I didn't have some roots in them, and the resulting affinity that often comes from that. Yet they are unlikely landing spots.
I'm wondering if any of you have started your retirement and/or are close to it, what factors you looked at, and what you ultimately decided and why. Taxes are not a small part of my equation, but different states tax differently. Some tax income but not certain kinds of retirement (like military or social security). Affordable real estate is another-- buy somewhere that isn't overvalued, which can offset tax considerations. People another-- too many GD people in DFW. Don't need a small town, but 30-50k size is acceptable.
I welcome any factors that I may not have considered, or may need to consider more. Also, would be curious as to how inflation has affected those who are already retired.
I may yet end up in Texas with its lack of income tax, etc, but I've been here long enough, frankly. I miss having actual seasons of the year, no longer enjoy the simmering summers, and DFW in particular has just turned into about 5 million square miles of concrete. If I do stay in the state, it won't be here-- maybe further east toward Louisiana or slightly west of Ft. Worth where there is some actual topography. And in those spots, one could easily get a little more bang for the buck too-- sell the overvalued DFW property and buy something in the sticks kind of idea.
The Carolinas are tempting, but it seems like NC is becoming a bit too full in recent years, with SC possibly following soon. NC (RDU area) seems to have become what Atlanta was 20 years ago, and what DC was before that). Really enjoy the idea of eastern TN somewhere where I can be not necessarily in the mountains, but among them-- good tax rates too. I don't know much about northern Alabama or Mississippi, though I've seen people settling there. I put those places in the same spot as southern Kentucky-- maybe something to look at closer.
OK, KS, MO, and AR would all give me more seasonal weather, but the tax rates are up there-- perhaps offset a bit by the cost of property. There are desirable places to live in all those states (believe it or not), but not to the extent of a Carolina or TN retreat, IMO. The midwestern weather can just be brutal too, with all the heat of Texas in some years and the usual cold winters. I don't think I'd be considering any of those states if I didn't have some roots in them, and the resulting affinity that often comes from that. Yet they are unlikely landing spots.
I'm wondering if any of you have started your retirement and/or are close to it, what factors you looked at, and what you ultimately decided and why. Taxes are not a small part of my equation, but different states tax differently. Some tax income but not certain kinds of retirement (like military or social security). Affordable real estate is another-- buy somewhere that isn't overvalued, which can offset tax considerations. People another-- too many GD people in DFW. Don't need a small town, but 30-50k size is acceptable.
I welcome any factors that I may not have considered, or may need to consider more. Also, would be curious as to how inflation has affected those who are already retired.