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Metropolitan New York City
Reply to "NYC for second career/semi-retirement?"
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[quote=Anonymous]If this is a pied-a-terre then I assume you will have another place somewhere else? My parents retired to NYC and it was great - first they had a pied a terre and then they moved to a bigger place in the same building and made it their permanent home. My family loved visiting. My parents lived in a coop building where buyers had to put more than 50% down, which naturally led to a lot of empty nesters living there and my parents made some nice friends. The building also had great doormen who were super helpful as my parents aged. Tax-wise I think you don't have to pay NYC income taxes if you live there for less than half the year - there are apps that help you keep track (the rules may have changed but this is definitely something to be aware of). I loved having my parents live somewhere where they did not have to drive and where there were tons of engaging cultural activities. [/quote]
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