Retirees and near retirees...

[AnnaS]

This reminds me of House Hunters International when the new buyers are moving to Cabo or Puerto Vallarta (or someplace similar). They love vacationing there and figure they'll love living there as much. It's one thing to stay near the beach/town in either of those places for a week, but as a resident it would probably get old pretty quick. I've read accounts of petty crimes driving ex-pats away in Mexico and Central America. It's one thing to visit those places on vacation, but quite another to live there.

I would love to see updates on these stories - wether they bought an island, a house or condo in Mexico, Bahamas, etc. How did their rental go? Were any of them affected by hurricanes, do they still live in their dream place, etc. etc.

 

[_19disnA]

I often wonder how much of those home buying TV shows are staged and/or how much $$ the people get paid to appear?

 

[barkley]

growing up and living in a tourism laden area well into my adulthood i would suggest that anyone inclined to retiring to one of their favorites that they do a few things in researching-

spend some time there off season-you might find that the cute little bistros, coffee bars, bakeries and shops you dream of spending endless hours wandering shutter closed when the tourists are not around, the wealth of activities, entertainment and 'community activites' have closed shop until the next tourist season. take some time and realy drive around to what the neighborhoods you are likely to live in look/feel like vs. the areas you've likely spent your time as a tourist.

read the local on-line newspaper and get a feel for what is happening and what pro/con comments locals are speaking about/expressing concerns over.

look into the day to day services you will want/need and investigate the availability and cost. you may be fine with paying inflated grocery store prices while on vacation and having limited choices but how does that fit with your budget/personal choice 365 days a year? are you going to do what many locals do and drive an hour away to get to something as simple as a costco b/c the tourism powers that be have successfully fought one local for decades (same with many traditional grocery chains). are there medical providers that take insurance that would be available (and are they even taking new patients)? is that urgent care medical center you passed by on your recent trip truly the only point of care local to the area so you will have to travel (or be transported) out of the area?

it's very different living in a highly sought after vacation destination vs. visiting-frequently the entire focus of services and supports are geared to visitors. the cost of living is often based on living there while on vacation which is grossly more expensive than most people can or will spend day to day 'in the real world'.

 

[fortwildernessishome]

Yeah this is a common issue - you save on one thing but something else makes up for it.
New Hampshire has no Income tax, and raise a lot of money form the state liquor stores, but the property taxes can be ridiculous. Not sure its still like that but I think it is.

Oh yes, it still is!

Our tax rate in NH is 31.72! I think we are the highest in the state or very close to it. We keep talking about moving, but we've lived here for 36 years.

 

[Southernmiss]

Re Tennessee - mil and her husband retired 1st to Palm Coast Florida from Hawaii in 2000. By 2005, Palm Coast had grown so fast that they sold and moved to Southern Middle Tennessee on 14 acres. He has since died, but she loves it there. Small town feel, an hour from Huntsville or Nashville for city needs.

Low crime. Mild weather, just a nice place to live. Bil moved there a year ago and also couldn't be happier.

 

[dvcgirl67]

I would love to see updates on these stories - wether they bought an island, a house or condo in Mexico, Bahamas, etc. How did their rental go? Were any of them affected by hurricanes, do they still live in their dream place, etc. etc.

Oh, I totally agree. Occasionally I've been able to google and find some of the participants who go to a resort area to buy a property to open up an AirBnb or retreat. So some really do it. Others who retire to these places do really seem to be chasing vacation vibes, which isn't reality. I haven't seen Acapulco on any of the HH international shows, but they just got decimated by a Cat 5 hurricane. A good amount of them are renters and I'm always amazed at how little most of them are willing to spend and how much they expect to get. Wish lists are whittled down by the end of it. Of course, a lot of that stuff is just part of the formula of these shows. "She loves traditional....he wants modern. He needs a pool....she wants the beach. He's willing to live under a bridge.....she needs a palace." lol.

 

[dvcgirl67]

I often wonder how much of those home buying TV shows are staged and/or how much $$ the people get paid to appear?

I read an article a few years about HH International. They paid the couple $1,500....a flat fee at the time. People apply to be on the show, and for the international show they are quite far along in the process....many already own the property they appear to be "touring". When they show the "3 months later" shot at the end....it's not. That's always been obvious to me though because the hair length is always the same...etc. They are "real people" who are moving abroad for some reason, the rest of it is a production if you will.

 

[Skywalker3]

Re Tennessee - mil and her husband retired 1st to Palm Coast Florida from Hawaii in 2000. By 2005, Palm Coast had grown so fast that they sold and moved to Southern Middle Tennessee on 14 acres. He has since died, but she loves it there. Small town feel, an hour from Huntsville or Nashville for city needs.

Low crime. Mild weather, just a nice place to live. Bil moved there a year ago and also couldn't be happier.

They're probably close to where we live. We're in Williamson County, not all that far from Nashville, but far enough that it's a hassle to go there much. But almost everything we need is close. Traffic still awful, and they are completely building irresponsibly here. I think Huntsville is about 1.5 hours, DS might consider UAH for college, but we'll see.
My in-laws are in a nearby county, but it's muchmore rural. They got a LOT more house for their money, but I think it's too far for medical care. They usually come up this way. When MIL was going through cancer treatment, she had to go to Nashville, and it was over an hour, plus the Nashville traffic. But they moved from rural Kentucky, so were used to that.
There are lots and lots of rural areas in TN (and most other states in the South,) that I'd never want to live in. I've never liked driving on winding, back roads, or making long commutes, so I wouldn't want to live too remotely.

 

[_19disnA]

it's very different living in a highly sought after vacation destination vs. visiting-frequently the entire focus of services and supports are geared to visitors. the cost of living is often based on living there while on vacation which is grossly more expensive than most people can or will spend day to day 'in the real world'.

I agree. The place you like to go for 1-2 weeks of vacation may not be the best choice of where to live full-time.

 

[lifesavacation]

My husband is 19 months from retirement at his job with the railroad and then we own a successful business together. We’ve had a lot of retirement discussions. This is what we‘ve come up with.

State that doesn’t tax RR retirement and pension
Need to be within 1 hour from a decent airport
Husband loves to fish so needs to be in an area with decent salmon & steelhead fishing
Low property taxes
Needs to be within 1 hour of excellent medical care
Has some culture to it, like art, restaurants, music
Low crime

Nice, but not must haves are good weather and near kids.

 

[lifesavacation]

With the kids scattered in San Francisco, Seattle, and Washington, DC, we sold the family home and moved to be near the only one that is married, owns a home, has a job that will keep her & her DH here, and has produced a grandson. Cost of living is much higher than SW PA, but N. VA has a lot to offer - walkability, lots to do, most importantly the chance to see grandson weekly. Weather is a bit better than Pittsburgh, but as a true northerner this is as far south as I will ever live. Very happy here.

Most of my close friends have kids that are scattered around the country too. We have four adult kids and this is one of our toughest considerations. I wouldn’t want to make a decision like where to live based on their proximity and then have them move for a job. And then which kid would you pick to live close to? My daughter is engaged. She met her fiancé at college and he is from Brazil so she may end up leaving the country in a few years. Being geographically close is a consideration for us, but not a requirement is what we’ve come up with. Hopefully, our health will permit us to travel and see all of them for many years.

It‘s so hard to know how we’ll want to experience a full meaningful life in retirement. Maybe priorities will change when we have grandchildren. I wouldn’t want to live somewhere I couldn‘t develop a good social life. I guess we’ll play it by ear. It be fun to figure out and we can change course if necessary

 

[georgina]

Most of my close friends have kids that are scattered around the country too. We have four adult kids and this is one of our toughest considerations. I wouldn’t want to make a decision like where to live based on their proximity and then have them move for a job. And then which kid would you pick to live close to? My daughter is engaged. She met her fiancé at college and he is from Brazil so she may end up leaving the country in a few years. Being geographically close is a consideration for us, but not a requirement is what we’ve come up with. Hopefully, our health will permit us to travel and see all of them for many years.

It‘s so hard to know how we’ll want to experience a full meaningful life in retirement. Maybe priorities will change when we have grandchildren. I wouldn’t want to live somewhere I couldn‘t develop a good social life. I guess we’ll play it by ear. It be fun to figure out and we can change course if necessary

Yeah, lots of considerations. DS in Seattle has been working from home for 7 years, his company is based in NJ and he could really live anywhere, and I doubt he will ever get married or have kids. Youngest DD is software engineer in SF and she keeps threatening to quit her job for something more fulfilling. Son-in-law here works in national security and will most likely always be in DC.

Finding new social groups is the hardest. DH has found his people in a couple of scuba groups, and I joined a church with many friendly people and opportunities to get involved in the community. It took over a year to really feel settled.

Regarding your previous post, PA didn't tax pensions or IRA withdrawals, sadly VA does, but I don't think they have salmon there!

 

[gmi3804]

Finding new social groups is the hardest.

Isn't that why God invented pickleball?

 

[tvguy]

Isn't that why God invented pickleball?

No, pickleball is designed to create conflict, not new social groups. Disputes with the tennis players that are mad that their tennis courts have been converted to pickleball courts......or where new courts have built, disputes with homeowners upset at the noise. Never seen anything like it. A very popular sport that is very unpopular.

 

[gmi3804]

No, pickleball is designed to create conflict, not new social groups. Disputes with the tennis players that are mad that their tennis courts have been converted to pickleball courts......or where new courts have built, disputes with homeowners upset at the noise. Never seen anything like it. A very popular sport that is very unpopular.

Well, then that's why Satan invented pickleball.

 

[Christine]

Yeah, lots of considerations. DS in Seattle has been working from home for 7 years, his company is based in NJ and he could really live anywhere, and I doubt he will ever get married or have kids. Youngest DD is software engineer in SF and she keeps threatening to quit her job for something more fulfilling. Son-in-law here works in national security and will most likely always be in DC.

Finding new social groups is the hardest. DH has found his people in a couple of scuba groups, and I joined a church with many friendly people and opportunities to get involved in the community. It took over a year to really feel settled.

Regarding your previous post, PA didn't tax pensions or IRA withdrawals, sadly VA does, but I don't think they have salmon there!

One good spot of news for VA--the state has started *not* taxing military retiree pensions. They are easing into it so the cap goes up each year. Not sure where we are now but I'll take it. My husband pulls in a pension from being an electrician as well as from his military time. It's nice to have a break on one of them.

 

[georgina]

One good spot of news for VA--the state has started *not* taxing military retiree pensions. They are easing into it so the cap goes up each year. Not sure where we are now but I'll take it. My husband pulls in a pension from being an electrician as well as from his military time. It's nice to have a break on one of them.

DH's pension from his job is relatively small, at least VA doesn't tax SS. When he turns 70 in June and starts taking that, it will be twice as much as his pension!

 

[Christine]

DH's pension from his job is relatively small, at least VA doesn't tax SS. When he turns 70 in June and starts taking that, it will be twice as much as his pension!

That's my goal for SS-wait until 70. It's quite a bit of money.

 

[Dan Murphy]

That's my goal for SS-wait until 70. It's quite a bit of money.

Yes it is and good for you, good decison.

 

[JaxDad]

That's my goal for SS-wait until 70. It's quite a bit of money.

I haven’t decided how I’m going to handle SS yet. The break-even point is around 77 2/3 years, so the higher monthly payment doesn’t really matter until then. It all depends on how well I think I would manage the money up to that point (and how much risk there may be with the SS system in the future).