If you retire early, where have you considered moving to?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I've been looking at Cary, NC. It's diverse, near two biggish cities with a university and airport nearby. I'm not 100% about their taxes, though.

I struggle with where to retire. MoCo is too expensive, tax wise. But, MD has much better healthcare facilities. So, that's a big factor.

Cary is not diverse!!!

It is white white white vacation bible school white stupids.

NC has terrible politics and now that there will be no hurricane warnings good luck with that .. and no fema monies. Yes Cary gets hurricanes and it sucks.

Well, I'm Asian, and Cary has a lot of Asians, so it's good enough for me. There aren't very many places in this country where there is a significant Asian population, so my choices are limited.

NC is trending purple, and the RTP area, which includes Cary is blue. Also, I'm an Independent, and I actually want to get away from uber progressive MoCo.

[Anonymous]

Anonymous wrote:I am happy here in Md. Best place for everything- moderate climate, the beach and the mountains, small towns and big towns, best Democratic leaders, events, theater, friends, shopping, and superb medical. Yes, taxes are higher, but why would I give that all up just to pay less taxes. Less taxes means less of the above.

Red states like TX have events, theater, shopping, etc.. But, I'll give you the medical care in MD for the elderly is better than TX. However, it's not better than some red states.

https://www.seniorliving.org/research/best-states-senior-healthcare/

https://seniorsite.org/resource/15-states-with-best-healthcare-for-seniors-in-2025-research-backed-rankings/

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We moved to MidCoast Maine. Heaven.

We are looking at this! Have you found any downsides?

DP here. Some might consider 6 months of winter a downside.

+1 we have friends who bought their retirement home in Maine but they also maintain a DC condo and spend winters here. And, now have a new grandchild here so they are spending even less time in Maine.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We moved to MidCoast Maine. Heaven.

We are looking at this! Have you found any downsides?

DP here. Some might consider 6 months of winter a downside.

+1 we have friends who bought their retirement home in Maine but they also maintain a DC condo and spend winters here. And, now have a new grandchild here so they are spending even less time in Maine.

This is a big factor for me. I like where we live so, for now, my only moving motivation would be to live near any future grandchildren. That's what my parents did when they retired. All us kids had left their city, so when it was time to retire they considered either DC to be near me or a different city where my sister lived. My dad had lived in her city long ago and liked it, and it is more affordable than DC, so they ended up there. If you'd asked them 10 years earlier that city would never be a place they came up with on their own. But it has a nice quality of life and that's where the babies are so nothing else really matters. One of their friends moved to Portland for the same reason and a couple of my friends' parents are in DC for the grandchildren.

[Anonymous]

Anonymous wrote:MoCo tax wise if over 65 and taking 401ks they exempt a portion of it from taxes. They also have homestead exemption. You have way less income in retirement so less Moco taxes and MoCo does not tax SS income in retirement.

However, if you have huge 401ks RMDs that makes a difference

? where does it say that? Source?

[Anonymous]

Anonymous wrote:

Anonymous wrote:MoCo tax wise if over 65 and taking 401ks they exempt a portion of it from taxes. They also have homestead exemption. You have way less income in retirement so less Moco taxes and MoCo does not tax SS income in retirement.

However, if you have huge 401ks RMDs that makes a difference

? where does it say that? Source?

Source is maryland tax laws.

If you are 65 or older or totally disabled (or your spouse is totally disabled), you may qualify for Maryland's maximum pension exclusion of $36,200* under the conditions described in Instruction 13 of the Maryland resident tax booklet. If you're eligible, you may be able to subtract some of your taxable pension and retirement annuity income from your federal adjusted gross income.

*For calendar year 2023. For calendar year 2024, the maximum pension exclusion is $39,500.

You were 65 or older or totally disabled, or your spouse was totally disabled, on the last day of the tax year; and
You included on your federal return income received as a pension, annuity or endowment from an "employee retirement system." These include qualified defined benefit and defined contribution pension plans, 401(a) plans, 401(k) plans, 403(b) plans, and 457(b) plans.

[Anonymous]

Anonymous wrote:

Anonymous wrote:MoCo tax wise if over 65 and taking 401ks they exempt a portion of it from taxes. They also have homestead exemption. You have way less income in retirement so less Moco taxes and MoCo does not tax SS income in retirement.

However, if you have huge 401ks RMDs that makes a difference

? where does it say that? Source?

Source is maryland tax laws.

If you are 65 or older or totally disabled (or your spouse is totally disabled), you may qualify for Maryland's maximum pension exclusion of $36,200* under the conditions described in Instruction 13 of the Maryland resident tax booklet. If you're eligible, you may be able to subtract some of your taxable pension and retirement annuity income from your federal adjusted gross income.

*For calendar year 2023. For calendar year 2024, the maximum pension exclusion is $39,500.

You were 65 or older or totally disabled, or your spouse was totally disabled, on the last day of the tax year; and
You included on your federal return income received as a pension, annuity or endowment from an "employee retirement system." These include qualified defined benefit and defined contribution pension plans, 401(a) plans, 401(k) plans, 403(b) plans, and 457(b) plans.

Seniors whose primary source of income is Social Security will have a very small tax bill in Maryland, as the State does not tax Social Security benefits. On the other hand, retirees who rely on some combination of Social Security, retirement account income and public pension income may have a larger tax bill, especially if they have retirement income from a 401(k) or similar account in excess of $39,500 for the 2024 tax year.

So SS tax free and 401K withdrawls up to $39,500 tax free at state level if 65 or older.

[Anonymous]

I have had a few friends move to just over the PA line - south of Gettysburg, and just north of Hagerstown. Keeps them within a short distance of their adult kids/grandkids, but eliminates taxes on retirement income (for over 60).

[Anonymous]

Anonymous wrote:I understand the need to be smart with your money and not to throw your money away needlessly in retirement, but to plan where to live your retirement years around minimizing property and income taxes isn't very appealing to me. Like everything else in life, there's a price you pay for that kind of thinking. If I want to live in a certain place, I'm gonna do it, and I'm not gonna do it for tax reasons.

Glad you have an endless supply of $$. Some people don't and need to consider those issues. Saving $20K+ per year in property taxes is huge to someone planning to live on under $200K/year in retirement, even bigger for someone planning $100K.

I agree I woudlnt' move somewhere I didnt' like just to do that, I would go with a smaller place in an area I love. But smart people make certain they can live to 90+ and not be a burden on their kids/family and that means smart financial planning

[Anonymous]

Anonymous wrote:Williamsburg.

Future Ford’s Colony resident?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I've been looking at Cary, NC. It's diverse, near two biggish cities with a university and airport nearby. I'm not 100% about their taxes, though.

I struggle with where to retire. MoCo is too expensive, tax wise. But, MD has much better healthcare facilities. So, that's a big factor.

Cary is not diverse!!!

It is white white white vacation bible school white stupids.

NC has terrible politics and now that there will be no hurricane warnings good luck with that .. and no fema monies. Yes Cary gets hurricanes and it sucks.

Well, I'm Asian, and Cary has a lot of Asians, so it's good enough for me. There aren't very many places in this country where there is a significant Asian population, so my choices are limited.

NC is trending purple, and the RTP area, which includes Cary is blue. Also, I'm an Independent, and I actually want to get away from uber progressive MoCo.

+1
and lol! bye crazed foaming at the mouth poster of three lines

[Anonymous]

Anonymous wrote:

Anonymous wrote:We moved to MidCoast Maine. Heaven.

We are looking at this! Have you found any downsides?

Not much diversity

[Anonymous]

Anonymous wrote:

Anonymous wrote:Need to clarify what "some diversity" means to you. Diversity is in the eye of the beholder. There's plenty of Latinos living in rural Virginia working at chicken plants. Does that count? Suspect not so be a bit more specific.

+1 These posts seeking diversity are ridiculous. Explain specifically what criteria you need to meet because no one place will have every kind of diversity.

Are you a lesbian and need a lesbian community? Japanese and want more than a few token Asians? Is religiously or socioeconomically diverse important to you for a certain reason?

Or are you just an UMC, straight, white woman who's virtue signaling?

Diversity can also be educational level, and income in addition to religious, ethnic, and gender/sex orientation.

[Anonymous]

Anonymous wrote:I've been looking at Cary, NC. It's diverse, near two biggish cities with a university and airport nearby. I'm not 100% about their taxes, though.

I struggle with where to retire. MoCo is too expensive, tax wise. But, MD has much better healthcare facilities. So, that's a big factor.

I live in Raleigh. Cary is cute but expensive, however you could get a house in any number of suburbs around Raleigh for a decent price. We like Raleigh a lot. Plenty of healthcare choices, all the shopping you need, three hours to the beach, three hours to the mountains.

We're a purple state, but really we are a "gerrymandered blue state."

[Anonymous]

Probably Boulder, CO