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OT Advice- Where to Live During Retirement?
Posted on 4/14/25 at 1:33 pm
Posted on 4/14/25 at 1:33 pm
Need some advice on where to live during retirement. About five years away from retirement. Looking to buy something early in the next year or two. Like coastal AL, GA, and SC. Am I missing anything?
29
Posted on 4/14/25 at 1:34 pm to ratman2233
Well, I suppose that would depend on how much money you have and what you like to do
Posted on 4/14/25 at 1:37 pm to ratman2233
reverse snowbird
in the woods somewhere in the midwest to hunt fall/winter
on the water in the south in the spring/summer to fish
in the woods somewhere in the midwest to hunt fall/winter
on the water in the south in the spring/summer to fish
Posted on 4/14/25 at 1:39 pm to ratman2233
If you would consider coastal Alabama, there is no reason to exclude the Florida panhandle.
Posted on 4/14/25 at 1:40 pm to SloaneRanger
Live in Houston now. Wanna get away from property taxes. Florida has property taxes, I believe.
Posted on 4/14/25 at 1:40 pm to ratman2233
Sorry…coastal Mississippi is full. 
ETA: Mississippi has very low property taxes and just eliminated their state income tax.
ETA: Mississippi has very low property taxes and just eliminated their state income tax.
This post was edited on 4/14/25 at 1:49 pm
Posted on 4/14/25 at 1:42 pm to ratman2233
quote:
Where to Live During Retirement?
You're welcome.
Posted on 4/14/25 at 1:42 pm to ratman2233
What and where is your retirement income coming from?
Alabama will tax your investment income. After the age of 65 Georgia only taxes investment income above $65000 per year.
Of the three, Georgia is the most income tax friendly for retirees.
Alabama will tax your investment income. After the age of 65 Georgia only taxes investment income above $65000 per year.
Of the three, Georgia is the most income tax friendly for retirees.
quote:
Alabama
The first $6,000 of distributions from retirement plans (like IRAs and 401(k)s) are tax-exempt for retirees age 65 and older in Alabama.
Income Tax on Taxable Income: Low of 2% (on up to $500 for single filers and $1,000 for joint filers) and a high of 5% (on more than $3,000 for single filers and $6,000 for joint filers)
Social Security: Not taxable
Pensions: Not taxable
401(k) and IRA Distributions: Partially taxable
quote:
Georgia
Georgia taxes most retirement income, but the state offers a hefty retirement income exclusion. Taxpayers age 62 and older may exclude up to $35,000 of their retirement income, and those age 65 and older can exclude up to $65,000 of retirement income.
Income Tax on Taxable Income: Flat 5.49%
Social Security: Not taxable
Pensions: Partially taxable
401(k) and IRA Distributions: Partially taxable
quote:
South Carolina
South Carolina offers a retirement income exclusion of up to $15,000. If you have taxable income that exceeds that amount, you’ll pay income taxes in South Carolina.
Tax on Taxable Income: Low of 0% (on up to $3,460) and a high of 6.2% (on more than $17,330)
Social Security: Not taxable
Pensions: Partially taxable
401(k) and IRA Distributions: Partially taxable
Posted on 4/14/25 at 1:43 pm to ratman2233
What's you price point?
Posted on 4/14/25 at 1:43 pm to Snipe
Knew I missed something. Much appreciated, sir!
fricking Seinfeld! That's awesome!
fricking Seinfeld! That's awesome!
This post was edited on 4/14/25 at 2:06 pm
Posted on 4/14/25 at 1:44 pm to redneck
Stuck in SoCal for life.
The Warden (no pics) has a HUGE Hispanic family in the area and refuses to budge.
On my side it's just me and my 87 year old mom in hospice.
At least the weather is nice.
The Warden (no pics) has a HUGE Hispanic family in the area and refuses to budge.
On my side it's just me and my 87 year old mom in hospice.
At least the weather is nice.
Posted on 4/14/25 at 1:44 pm to VABuckeye
Appreciate this information.
Posted on 4/14/25 at 1:48 pm to ratman2233
My pleasure. I'm about 4 years out and have been doing a ton of reserach on it. There's a reason other than weather why so many northerners retire to the southern states.
This post was edited on 4/14/25 at 1:50 pm
Posted on 4/14/25 at 1:50 pm to VABuckeye
Retirement income will come from state pension, TRS. I'm a teacher in the Houston area. Other retirement income will come from Roth IRA.
Posted on 4/14/25 at 1:52 pm to ratman2233
Sure. Everywhere has property taxes. I thought Florida’s are a lot less oppressive than in Texas but I really haven’t compared.
Posted on 4/14/25 at 1:54 pm to SloaneRanger
You're probably right. Texas is ridiculous. Florida is most likely better.
Posted on 4/14/25 at 2:03 pm to ratman2233
There's no question that Florida is the most tax friendly place to retire. Having lived in SW Florida I'm not sure it's where I want to end up. I went through hurricane Ian.
Posted on 4/14/25 at 2:04 pm to ratman2233
Some areas have no property tax when you hit 65. Google the areas you are looking at by county.
Posted on 4/14/25 at 2:05 pm to ratman2233
NW Arkansas
Greenville, SC
Boone, NC
Chattanooga, TN
Florida
Greenville, SC
Boone, NC
Chattanooga, TN
Florida
Posted on 4/14/25 at 2:06 pm to ratman2233
quote:
Retirement income will come from state pension, TRS. I'm a teacher in the Houston area. Other retirement income will come from Roth IRA
Mine will be SS, 401k disbursements, IRA disbursements and later in life possibly brokerage account disbursements. At this point I am doing my planning to keep the dreaded RMD at a point where it has minimal affect on my federal tax burden later in life.
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