Where do you want to live when you retire?

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Re: Where do you want to live when you retire?

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@Candy3954 wrote:

Property taxes and sales tax in IL are near the highest in the nation and going up, if they’re not the highest.  I live in a starter home in an area that hasn’t recovered as well economically as most others and for a small property I’m paying $5,600/year in real estate taxes.  People who live in areas that have recovered faster can pay up to $14,000 a year in real estate taxes - over a thousand dollars a month.  That’s a huge chunk of most retirees’ Budget.


That would be huge chunk of anyone regular working persons budget. Brtween that and Property Insurance it would be almost impossible to own a home.

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Re: Where do you want to live when you retire?

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Message 122 of 357
Grove city Ohio had new house built.
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Re: Where do you want to live when you retire?

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Message 123 of 357

Property taxes and sales tax in IL are near the highest in the nation and going up, if they’re not the highest.  I live in a starter home in an area that hasn’t recovered as well economically as most others and for a small property I’m paying $5,600/year in real estate taxes.  People who live in areas that have recovered faster can pay up to $14,000 a year in real estate taxes - over a thousand dollars a month.  That’s a huge chunk of most retirees’ Budget.

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Re: Where do you want to live when you retire?

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Do you have any idea where in Arizona?  I live in the Southern area (think Tombstone). the Northern area is beautiful too, cooler climates, snow, more evergreen.  Phoenix (central) can be unbearbly hot in summer.  Ive been here since 2008 this time but lived here (military) 3 other times in my life.  I'm in same situation like you under 2 years.  Originally from Indiana, I'm heading to Tennessee for cooler temps, like you are for hotter temps.

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Re: Where do you want to live when you retire?

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I'm confused about your Taxes everything statement.  The information I received does speak about sales tax Thats the consumables you mention(most states do)  Where I am in Arizona, its 9%. Property tax too but here too.  

But wjhen I see:

No State tax

IRAs, 401a, private and public pension Not taxed

Tennessee gives tax break on property tax for 65, disabled, veterans (me). 

 

If you are only talking sales tax.....I can accept that

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Re: Where do you want to live when you retire?

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Message 126 of 357

I want to move to Arizona from Illinois when I retire in less than 2 years...I am moving because they have a lot of sun and warm weather...I'm tired of the cold...

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Re: Where do you want to live when you retire?

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Message 127 of 357

House is paid for. Looking to retire in about 7 months. Would like to work part time at an Apple store. Do not want to stay in Illinois, however, as taxes are killing me. Looking for place with international airport, excellent healthcare, education opportunities, arts, education, recreation, friendly town, walkable, that I can afford.  Can be overseas.  In the meantime, I'll stay put and work on that Apple job while I decompress from this one. 

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My wife and I plan out of retiring to Florida's Palm Coast where we plan on volunteer our time with our religious organization there.

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Re: Where do you want to live when you retire?

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With 4 years until my husbandf retires , we are planning now of where to live. Currently we live in NE PA which is a tax friendly state for retirees however we are looking for less hustle and bustle. I was considering NC but read it isn't tax friendly. So now we are considering southern VA. We ant 4 seasons but a more less snow than here. It is such a major decsion and there is so much to research. 

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I'd love to retire in Tennessee. We've vacationed in Tennessee and loved the Smokey Mountains, no state income tax and low costs for housing compared to Maryland. 

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