Anonymous
02/27/2017 10:11
Subject: What's the best place to move for semi retirement in Virginia? Couple in 50's wants to slow down
Anonymous wrote:Anonymous wrote:Anonymous wrote:Eek...late 50s and 500k in retirement accounts. You will be semi retired for a loooong time to choose wisely.
Meh, 500k is enough for a retirement (without the "semi") by itself if you're frugal; moreso with social security.
Agree. My inlaws live pretty nicely on 48k/year (4k month with a paid off house - most of that is SS and the rest is their retirement savings.) They go out to dinner regularly, see movies and plays, FIL golfs but not all the time. They take a Viking river cruise type vacation every year or two.
4,000 a month huh? My DH and I spend $100 a pop each time we go out to dinner and our property taxes + utilities are over $1,000 a month.
Anonymous
02/27/2017 10:05
Subject: Re:What's the best place to move for semi retirement in Virginia? Couple in 50's wants to slow down
Richmond or Harrisonburg - Which is better and why?
Anonymous
02/27/2017 09:51
Subject: What's the best place to move for semi retirement in Virginia? Couple in 50's wants to slow down
Anonymous wrote:Kaveman wrote:We are in late 50's and while we dread the thought of a boring retirement, we do daydream about moving to a less stressful and cheaper place in Virginia in semi-retirement mode. By semi-retirement, I mean still work, but not as many hours. We are self-employed so our business is portable and our income would be much less. After 30 years in the DC area, we are burnt out, stressed out and tapped out.
We have looked at Richmond or Williamsburg areas. We would like to pay cash for a house (not a condo) in the $400K-$500K range. We are thinking if we were 100% debt free we could afford to work less and have more fun. We would like some arts/shopping/culture in a city. Are we dreaming foolishly? Here are our stats:
$700K in home equity
$500K in 401K and IRAs
One kid with 3 years left at a VA university
No other debts
Are we dreaming that we could make it work financially? What is the best location in Virginia to move for a pre retirement couple?
Is the 500k your only retirement savings? I assume so since you didn't list pension. DE has the lowest property related taxes. PA doesn't tax pensions. Your child has 3 years left at a VA state school so the child needs VA residency. Why stay in VA at a considerable distance after that child graduates? I think you have a mortgage since you wrote home equity not potential market value of the house.
NP here. Seems like you know a thing or two about states and retirement income taxes. What do you think of the Carolinas?
Anonymous
02/27/2017 09:13
Subject: What's the best place to move for semi retirement in Virginia? Couple in 50's wants to slow down
Kaveman wrote:We are in late 50's and while we dread the thought of a boring retirement, we do daydream about moving to a less stressful and cheaper place in Virginia in semi-retirement mode. By semi-retirement, I mean still work, but not as many hours. We are self-employed so our business is portable and our income would be much less. After 30 years in the DC area, we are burnt out, stressed out and tapped out.
We have looked at Richmond or Williamsburg areas. We would like to pay cash for a house (not a condo) in the $400K-$500K range. We are thinking if we were 100% debt free we could afford to work less and have more fun. We would like some arts/shopping/culture in a city. Are we dreaming foolishly? Here are our stats:
$700K in home equity
$500K in 401K and IRAs
One kid with 3 years left at a VA university
No other debts
Are we dreaming that we could make it work financially? What is the best location in Virginia to move for a pre retirement couple?
Is the 500k your only retirement savings? I assume so since you didn't list pension. DE has the lowest property related taxes. PA doesn't tax pensions. Your child has 3 years left at a VA state school so the child needs VA residency. Why stay in VA at a considerable distance after that child graduates? I think you have a mortgage since you wrote home equity not potential market value of the house.
Anonymous
02/27/2017 07:56
Subject: What's the best place to move for semi retirement in Virginia? Couple in 50's wants to slow down
I grew up in Richmond and the people are as striving and ambitious as the people here. I don't agree that the pace is slower at all. I went to W&M though and feel like is much much slower there. And the town revolves around the college first and the retirees second. It's heaven to me. Wish they actually had jobs there outside academia and medicine.
Anonymous
02/26/2017 20:34
Subject: What's the best place to move for semi retirement in Virginia? Couple in 50's wants to slow down
Anonymous wrote:Anonymous wrote:Anonymous wrote:Middleburg, Aldie, Winchester[/quote]
Way too expensive for this couple. Also no large airport.
LOL...aldie pratically shares a border with Dulles. Middleburg is 30min away.
I'm guessing PP has no clue what they are talking about or where Aldie, Middleburg and Winchester are in the state of VA.
Anonymous
02/26/2017 20:13
Subject: What's the best place to move for semi retirement in Virginia? Couple in 50's wants to slow down
Anonymous wrote:Anonymous wrote:Middleburg, Aldie, Winchester[/quote]
Way too expensive for this couple. Also no large airport.
LOL...aldie pratically shares a border with Dulles. Middleburg is 30min away.
Anonymous
02/26/2017 20:12
Subject: What's the best place to move for semi retirement in Virginia? Couple in 50's wants to slow down
Anonymous wrote:Anonymous wrote:Anonymous wrote:How about Suffolk or Chesapeake? Va Beach might be a little expensive but you can get a nice home in the other two and have quick acces to the outer banks etc. Fly out of Norfolk is easy too.
If you lived in the greater VA beach area, why in the hell would anyone go to thr OBX? Serious question.
I grew up in VA Beach, and could walk to the beach. Going to OBX was something you did in a big group of family friends for a weekend, as a long weekend trip that was easy to reach but still different, and sometimes for special events/festivals. I always found it pointless, but the number of OBX stickers I see on cars in VB indicates that others do not share this feeling.
As to the op, I would recommend Richmond.
I assume you are not in your early 20s. I actually understand that. Pre 2000, virginia beach was an absolute gang infested dump. Id say it's now much nicer than OBX.
Anonymous
02/26/2017 20:07
Subject: What's the best place to move for semi retirement in Virginia? Couple in 50's wants to slow down
Anonymous wrote:Anonymous wrote:Middleburg, Aldie, Winchester[/quote]
Way too expensive for this couple. Also no large airport.
WTF ,No large airport? Dulles is an hour from Winchester, which is the furthest town mentioned.
Anonymous
02/26/2017 19:55
Subject: What's the best place to move for semi retirement in Virginia? Couple in 50's wants to slow down
Anonymous wrote:Middleburg, Aldie, Winchester[/quote]
Way too expensive for this couple. Also no large airport.
Anonymous
02/26/2017 19:51
Subject: What's the best place to move for semi retirement in Virginia? Couple in 50's wants to slow down
Anonymous wrote:Anonymous wrote:Fredericksburg. Halfway between DC and Richmond so you can easily make a (long) day trip out of it if you want to go to either place.
Oh, no not Frednecksburg!
Agree, I wouldn't go anywhere you need to go to Rt 3 or 17 for basic shopping. Times I have been there traffic is a nightmare.
Richmond is better. Some parts of Chesterfield are nice, not Midlothian, but down near Chesterfield town and Chester.
Anonymous
02/26/2017 19:45
Subject: What's the best place to move for semi retirement in Virginia? Couple in 50's wants to slow down
Anonymous wrote:Eek...late 50s and 500k in retirement accounts. You will be semi retired for a loooong time to choose wisely.
OMG. they are not DCUM rich!! They will be fine, don't listen to the DCUM gloom and doomers who say you need three million to retire.
Anonymous
02/26/2017 17:51
Subject: What's the best place to move for semi retirement in Virginia? Couple in 50's wants to slow down
Definitely Richmond over Williamsburg but what about Baltimore?
Anonymous
02/26/2017 15:27
Subject: Re:What's the best place to move for semi retirement in Virginia? Couple in 50's wants to slow down
We bought some country property about halfway between Fredericksburg and Charlottesville. In a few years when we retire we'll build a house on it. 45 minutes to either of those towns, 55-60 to Richmond, 90 to Arlington (in good traffic). Meanwhile, property taxes are $315/year. 
Anonymous
02/26/2017 14:30
Subject: What's the best place to move for semi retirement in Virginia? Couple in 50's wants to slow down
Anonymous wrote:Anonymous wrote:How about Suffolk or Chesapeake? Va Beach might be a little expensive but you can get a nice home in the other two and have quick acces to the outer banks etc. Fly out of Norfolk is easy too.
If you lived in the greater VA beach area, why in the hell would anyone go to thr OBX? Serious question.
I grew up in VA Beach, and could walk to the beach. Going to OBX was something you did in a big group of family friends for a weekend, as a long weekend trip that was easy to reach but still different, and sometimes for special events/festivals. I always found it pointless, but the number of OBX stickers I see on cars in VB indicates that others do not share this feeling.
As to the op, I would recommend Richmond.