Retiring to New Jersey?

[Anonymous]

From Virginia. Suddenly New Jersey was a consideration. (Suddenly, New Jersery! (tm))

The advantages to me are *slightly* cooler summers.
Still have seasons.
Proximity to medical care as we age.
Proximity to NYC for visits.
Proximity to travel hubs.
Close to beach/lakes for day trips.

Happy to hear your pros and cons.

(Bracing myself)

[Anonymous]

I see the advantages but you won’t like the high taxes.

[Anonymous]

PA is far more common for retirement for multiple tax reasons.

[Anonymous]

The real estate taxes are insane

[Anonymous]

Anonymous wrote:PA is far more common for retirement for multiple tax reasons.

+1 taxes, OP. My sibling lives there, and their taxes are insane.

PA would be better.

[Anonymous]

What does TM mean?

[Anonymous]

taxes are way, way too high same with CT and NY.

[Anonymous]

When I was growing up in NYC / Greenwich Ct, New Jersey was referred to frequently as the "armpit of North America"

Make of that what you will. Don't move there until you've visited extensively and stayed in different areas, met the people, eaten in the restaurants.

Culturally its nothing like Virginia.

[Anonymous]

Anonymous wrote:What does TM mean?

assuming it means trademark

[Anonymous]

I LOVE New Jersey, and my only caveat for you is the taxes.

[Anonymous]

I grew up in New Jersey, have lots of family and friends there, and would love to retire there. Unfortunately, the taxes (income, property and estate) make it very, very difficult to justify. Only way will be if we can stay more than six months in a second home in Maine, but the winters make that very difficult.

[Anonymous]

Anonymous wrote:When I was growing up in NYC / Greenwich Ct, New Jersey was referred to frequently as the "armpit of North America"

Make of that what you will. Don't move there until you've visited extensively and stayed in different areas, met the people, eaten in the restaurants.

Culturally its nothing like Virginia.

It is not at all surprising that someone who grew up in Greenwich and NYC (upper _____ side, I expect) has that view. Frankly, I view it as a compliment.

[Anonymous]

It’s not cooler, are you kidding? The mosquitoes are insane. Taxes are high. But I do like NJ.

[Anonymous]

Anonymous wrote:I grew up in New Jersey, have lots of family and friends there, and would love to retire there. Unfortunately, the taxes (income, property and estate) make it very, very difficult to justify. Only way will be if we can stay more than six months in a second home in Maine, but the winters make that very difficult.

I would not pick Maine because I hate it that cold. But other than that, all of this resonates with me. (I have been unsuccessfully trying to get my parents to pick somewhere cheaper).

[Anonymous]

Anonymous wrote:

Anonymous wrote:I grew up in New Jersey, have lots of family and friends there, and would love to retire there. Unfortunately, the taxes (income, property and estate) make it very, very difficult to justify. Only way will be if we can stay more than six months in a second home in Maine, but the winters make that very difficult.

I would not pick Maine because I hate it that cold. But other than that, all of this resonates with me. (I have been unsuccessfully trying to get my parents to pick somewhere cheaper).

I agree - but June through September, it's glorious. Unfortunately, that isn't long enough to establish permanent residency so as to avoid NJ taxes.