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Try It NOWCategory: Best Retirement Towns and States
March 8, 2020 — We are in the process of upgrading all of the photos for the almost 1200 towns we have reviewed on this site. There is nothing better than a good photo that shows what a place really looks like. Each city review has space for 3 photos,…
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Category: Best Retirement Towns and States
March 4, 2020 -- California has sunny skies, a Mediterranean climate... and super-high housing prices and unending traffic. The Zillow Home Value Index was $561,000 in early 2020. A pleasant victim of its own success, it is a bit like Yogi Berra was alleged to have said, "It's so crowded, no one goes there anymore".
For those looking for the California experience, but don't want to either have to pay for it or fight its crowds, this article will explore some places to retire that might be good alternatives. The good news is, there are plenty of great places that are much more affordable. Most are not near a coast, but many have lakes and/or mountains to enjoy.
Flatiron Mountain: Photo by Molly Brady
Tucson, Arizona. Warm in winter, blessed with sunshine almost 300 days per year, Tucson is surrounded by beautiful desert mountains. At 233 performing arts dates per year, it also has one of the nation’s highest number of arts performances. It retains a distinctive relaxed, western flavor (Tombstone is nearby). The Zillow Home Value Index was $212,648 in 2020.
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Category: Financial and taxes in retirement
March 2, 2020 -- Last week featured one of the biggest stock market sell-offs since the Great Depression. Panic set in as market professionals and plain old investors tried to sort out just how serious the impact of the Corona Virus - COVID 19 - will be on world trade and the economy. Could widespread shortages, school and factory closings, and forced quarantines throw the world into economic chaos? No one really knows, and that uncertainty was felt in the U.S. and world stock markets last week.
Some investors told their brokers to sell everything. Many advisors urged stay the course, particularly those who have the long view. Still others suggested maybe it was time to buy. Since this website is about retirement, our outlook is different from investors with a shorter time from. Last week we solicited Comments from several members on a related blog, and are reprinting them here. Please let us what you are thinking and doing about it.
Comments----------
I am sure on edge about my investments after the losses of this week. I wS told to stay the course, but at this point, I am not sure what to do. I have a gut feeling this is going to get worse before it gets better. I am very worried now. ---- Maimi
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Category: International Retirement
February 26, 2020 -- There is a small, but significant, number of Americans who decide to move to another country for retirement. Facts on how many do that and the countries they move to are in short supply, so we were happy to see the results from the 2019 Expat Insider Survey (which has a wealth of interesting information). The New York Times was able to get a breakdown of that survey showing the most popular countries by age groups: Millennials, Professionals, Families, and Retirees. Some of the results were very surprising, especially the number one country where retirees move to, Ecuador. Here are their top 10 for retirees:
EcuadorCosta RicaPhilippinesThailandPortugalMexicoPanamaBulgariaSpainFrance
We would have guessed that Mexico was number 1, and would never have put Bulgaria in the top 10. Note that these are the most popular countries, not necessarily the best. Overall, the 5 highest rated countries (for all age groups) were: Taiwan, Vietnam, Portugal, Mexico, and Spain.
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Category: Retirement Planning
February 25, 2020 -- Retirement is a long, and potentially hazardous journey. Like any big trip, it requires a lot of advanced planning to stay safe and get the most enjoyment. So way before you hear a chorus of bon voyages, make sure you have mastered these 7 essential topics on retirement planning.
Getting ready to set sail
Your budget. Nobody is ready to retire until they understand what their budget looks like. Whether you use a financial planner or accountant, or do it yourself on a spreadsheet, you have to know if the input (your income) is going to match the output (what you are going to spend). The result of that exercise will help you determine answers to most of the other steps below - whether you can afford to quit working, where you'll live, and what you will do to stay busy (travel, recreation, etc.) Whether the answer is great (you have enough to be comfortable in your desired lifestyle), or if it is not so good (serious shortfall ahead!), going through the budget exercise gives you a sound basis for decision making. This budget worksheet in csv format contains most of the items you need to consider when developing a budget.
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Category: Best Retirement Towns and States
February 24, 2020 – Just heard from a friend who is concerned because she no longer gets our weekly “Best Places” newsletter. Unfortunately, due to a bone headed mistake I made, she is not the only one. Here is what I wrote back: Hi, The newsletter is still…
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Category: Travel
February 19, 2020 -- This could happen to you next fall: you hand your license to airport security and she hands it back. Sorry sir, this is not REAL ID - you cannot board the plane. That's right, starting October 1, 2020, every air traveler will need a REAL ID-compliant license or another acceptable form of identification (such as a US Passport, US Passport Card, US military card, or a DHS Trusted Traveller Card) for domestic air travel.
The Real ID Act of 2005 sets forth requirements for state driver licenses and ID cards to be accepted by the federal government for "official purposes", which are activities defined as boarding commercially operated airline flights, and entering federal buildings and nuclear power plants.
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Category: Best Retirement Towns and States
February 18, 2020 -- Every year we have fun rendering our opinion on the very "Best Places to Retire". To start that process, late last year we featured the 20 Best Retirement Towns in three major U.S. retirement regions. In today's installment we are going to winnow those lists down into our top 10 overall picks.
For 2020's best places to retire our overriding criteria: how interesting it is to live there, recreation and culture, climate, taxes, economic situation, location, transportation, walkability, healthcare, and to a minor extent - cost of living. We also wanted to mix it up a little bit, offer diversity and some new faces.
Popularity on this site, as measured by online visits by our Members, is also very important. Here, in our opinion, are the best of the best places to retire in all of the U.S.
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Category: Financial and taxes in retirement
February 11, 2020 -- More and more baby boomers in high tax states are tempted by the notion of retiring to greener pastures. The urge to move to a low tax, less expensive, and possibly warmer state has grown even stronger recently, because of the $10,000 limit on state and local tax deductions. But before you make the leap - make sure you do it right!
A domicile is where an individual maintains his or her permanent abode, and where that person intends to return from any absence. You can only have one domicile at a time. In "How to Become a Florida Resident" we outlined the basic steps you need to change your domicile and become a resident of a new state. Follow those and you are on a good path, but not necessarily free of all trouble. Snowbirds who continue to maintain a residence in their old state are particularly at risk. Here are some of the most basic steps to take:
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Category: Best Retirement Towns and States
February 8, 2020 — Our popular series comparing different regions of the country for retirement has a new update. The Southwest, featuring comparisons of Arizona, Nevada, New Mexico, and Utah has all new data and a fresh look. You’ll find up to date information on housing prices, taxes, climate, and…
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