Surveys conducted by various financial services providers continue to show a disconnect between retirement reality and U.S. baby boomers. In a recent such survey, use of home equity as retirement income tool came front and center.
Another retirement list has been published by Topretirements.com. This one ranks the ten best states for retirement. I’m confident that many will shake their heads at some of the states on the list. But either way, reviewing retirement location lists and why certain places are there is worth your time.
I have developed a pattern now. Most of my stays back in the “big house” in Brentwood now include at least one trip to the county dump and/or to Good Will. The alternative is to do it all at once, when we sell this house in a couple of years. But I have also learned that I do not want to wait until then.
Several weeks ago I was interviewed by a journalist who was researching a story about retirement downsizing. She found me because I write this blog and sell a retirement planning tool at Failsafe Retirement. I suppose that gives me some credibility because it shows that I at least think and care enough about retirement issues to research and write about them.
According to my readings, a substantial number of baby boomers intend to downsize and relocate for reasons that include cost of living. That being the case, knowing which states are the most tax-friendly to retirees is important. When you investigate this question, the answers may surprise you.
It’s been two weeks since my past post. A lot has been going on. A big part has been preparing our large family home to sell. We are spending more time in our condo now. Condo living is a definite lifestyle downsize, from 4500 square feet on three levels (with a yard to maintain) to 1500 square feet on one level.
Lists are popular with online readers. This is particularly true for those contemplating where to retire. I often link to lists of the best and worst places to retire and comment on them. Often our home state of Tennessee appears on a top 10 “best” list but sometimes on a “worst” list. It depends on how you prioritize retirement criteria. For example, Tennessee is economically favorable for retirement because of its low cost of living and no state income tax.
I’m not sure how many people make retirement living decisions based on lists of the best places to retire. I do believe that baby boomers like reading these lists. I know I do. The publishers know this as well because it seems that everyone has a retirement destination list or ranking to share. Recently, I found a list that ranked every state according to its pros and cons for retirees.
This has been interesting week. An earthquake along the east coast. Another in Colorado. Meanwhile, hurricane Irene is bearing down on the Atlantic coast. Let’s not forget the horrendous flooding along the Mississippi in April and May and the later Missouri River flooding. These events tend to make us consider whether environmental hazards and adverse weather conditions should influence the “where to retire” decision.
As part of our ongoing downsizing efforts, we have sold a dozen or so items on Craigslist over the past few months. Furniture, bicycles, a jukebox and today, a car. It was an interesting experience to say the least. Even from this single experience, I learned a few things about Craigslist car shoppers that some of you might find interesting.