Your Life
Retirement.
For many, it’s the ultimate career goal. One of the more fun parts to consider when thinking about retirement is “where do you want to live?” Really, the world is your oyster. There are many wonderful places around the world to retire. One of my guilty pleasures is watching this show called Mediterranean Life on HGTV. This show demonstrates that most anyone with any budget (modest to high) can find a place in their dream area. Of course, every dream area has sections that range from affordable to extreme. So, for example, you may not be right on the beach, but with a car, you can be within a few miles away.
Marketwatch.com has a nifty tool that takes attributes important to you and gives residential recommendations that might appeal to you in the US. It’s a fun start but just a start.
Where should I live?
According to MarketWatch, most people retire and stay within their state. Those in the US that move, tend to go South and West with Florida being the most popular destination due to the mild climate, affordable properties, and zero state income taxes.
By the way, there are seven states that have no personal income taxes: Alaska, Florida, Nevada, South Dakota, Texas, Wyoming and Washington. Two other states, New Hampshire and Tennessee do not tax wages, but they do tax investment income and interest. However, it is anticipated that both states will eliminate those taxes soon.
Lastly, while you might be dreaming of a margarita on the beach, there are obviously other things to consider aside from taxes, affordability, and climate. How far do you want to be away from family—especially those relatives with little ones? That decision can be a game-changer. What is the quality of area healthcare services? How accessible is it from a major airport? Does it have the cultural environment you want? So, start with the tool above, then know that you have to just dig deeper. From there, visit! Now, it starts getting fun again…
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