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2
Posted on 5/16/21 at 9:57 am to notiger1997
quote:
Which states are the most tax friendly to retirees?
Great question. School taxes vary by county. Cobb County, GA does not hit those over 62 with school tax and those over 65 get reduced property tax. In most places you fund the schools until you die. LINK
Posted on 5/16/21 at 10:22 am to notiger1997
quote:
Which states are the most tax friendly to retirees?
Eliminating everything north of I-40....
Top tier:
Mississippi, Tennessee, and Florida. In fact Mississippi currently has it all, including low costs of living. But it does tax capital gains at 5%. Tennessee lacks income taxes but they do tax capital gains.
Texas has very high property taxes in most areas. It’s sales tax isn’t great either.
Second tier:
Alabama and Georgia are decent all around. They have higher property taxes but some districts freeze them for retired people.
Louisiana has income taxes, but it excludes social security income or public pensions from income taxes...so if that’s you Louisiana might be a great option. It also has some of the lowest property taxes in the country which is a big deal. But very high sales tax.
Avoid:
Maine, Vermont, California, etc.
This post was edited on 5/16/21 at 10:24 am
Posted on 5/16/21 at 10:25 am to Ramblin Wreck
quote:
Fairhope is gorgeous, but $600K will pretty much only buy you a vacant lot. I noticed from real estate websites that you can buy the same view from the other side of the bay for about $80K. I haven't driven around over there, so am not sure what the drawback is other than not being Fairhope.
I hear fairhope is getting crazy crowded and real estate is just stupid so maybe the western shore makes sense.
I’m familiar with the western shore. Used to do some boat inspections in my former life over there. Theodore, bayou labatre etc.
There are some dicey areas which you’ll discover when you drive around. Some areas are real nice though. Dog river area is nice. Some marsh views, some River, maybe bay views.
The big difference with that area will be the dining options. Fairly limited. Also no sunset. Only sun rise but it’s inspirational.
Back to the eastern shore though, there’s Spanish fort which is nice. Daphne is real nice but quiet.
Then farther east to the area north of orange beach where you can get on that area north of Wolf bay.
Orange beach area is nice too.
This post was edited on 5/16/21 at 1:25 pm
Posted on 5/16/21 at 10:38 am to FLObserver
quote:
If you never retire you do not need to worry about saving money.
THis will be be me. My gravestone will read "Finally Retired."
Sometimes you don’t get to make that choice, I know plenty of people that got taken down by health issues in their late 50s, early 60s, and were forced to quit working. The human body really starts to fall apart in the early 60s no matter how healthy a lifestyle you have lived up to that point.
Posted on 5/16/21 at 10:41 am to James11111
Punta Cana?
Posted on 5/16/21 at 10:43 am to EA6B
quote:
. The human body really starts to fall apart in the early 60s no matter how healthy a lifestyle you have lived up to that point.
That's a fairly broad brush statement. Last year I was playing tennis a few times a month against a guy who was 88 and still moved great and his mind was super sharp.
I know several runners who are still going strong well into their 70's.
Posted on 5/16/21 at 10:49 am to James11111
quote:
You can buy Chalmette for $600,000
Can you start throwing people out though? Keep only the pretty ones. Or try to until you realized that only works if they're 14 and you are starting a creepy cult?
Posted on 5/16/21 at 10:49 am to member12
quote:
Top tier:
Mississippi
It's a long ways off and a lot can change, but this is why I kind of am thinking of getting a little place in Bay St. Louis or Ocean Springs in 10 years or so.
Posted on 5/16/21 at 5:19 pm to notiger1997
quote:
That's a fairly broad brush statement. Last year I was playing tennis a few times a month against a guy who was 88 and still moved great and his mind was super sharp. I know several runners who are still going strong well into their 70's.
Those in their 80s that fit that description are usuallyoutliers . I’m 66 a avid runner and bicyclist, but the point is at my age that could easily change overnight. People will plan for disabilities when they are young, and carry appropriate insurance etc. but at the same time not adequately fund retirement assuming that if they enjoy their work they will just keep going untinthey die.
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