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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Also we have the richest generation ever retiring.

My mother and MIL in NY were lower income widows.

NY reduces property tax on lower incomes and SS/Pension type income barely gets taxes at all. Both owned their small cheap to maintain starter homes outright.

Now compare this to my older brother near retrieve. He has almost 5 million in his 401ks he needs to do RMD on and around 5 million in stocks and two million bonds.

In retirement he still has a high income. Plus his NY house is big with high taxes and he in not eligible for reduced taxes when a senior due to income.

These people are going to keep coming, my brothers RMD will be $250k and his other stuff brings in $200k. He is making 450k in retirement or not. [/quote]

Why in the world would someone worth millions ($450k retirement withdrawals!), retire to FLORIDA?? So many nicer places.[/quote]

Like where with warm weather all year? Nicer than say, Palm Beach or Naples or Coral Gables? Sure, I'd want a place in Colorado or Tahoe as well at that income, but for my permanent home, I can't think of much better that Florida.

California has nicer weather sure. But the water is freezing most of the coast. And the cost of living for a retiree... no.[/quote]

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