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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]

He lives near Naples. He bought his home back in 2017. He is only retiring now. He likes to play golf year round. Go to beach, go to country club and basically hang out with 55-75 year old retired rich white guys from the North East.

In Florida on a Tuesday he can play golf, go for drinks then out to dinner. Everyone is free 24/7.

Florida in the nicer parts are same demographic that Nassau County NY and MoCo was in the 1980s. [/quote]

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