Retire out of state?

[cypher1]

How many of you are looking to retire out of state, or country? My roommate and I were just talking about this as we're in MN. He's planning to go back to SD later this year as most of his family resides there and some are having health issues. Since he just registered his address there, he's saving another 6% for state taxes.

While my family is all in MN, I consider it my base. While I grew up in the twin cities, I've always preferred suburbs for quietness or more privacy (hey, I'm boring). However, I was curious of land in NV, AZ, and UT, while on my recent hiking trip. Which has been getting me thinking of options of moving out-of-state for retirement. This is all simply talk right now. But I'd be curious of others opinions.

[disneysteve]

Our "plan" had been to move to central Florida. However, the past few years have really highlighted how incredibly dysfunctional Florida is. At this point, neither of us is really sure we want to live there permanently. We still have a very strong draw to the area and many friends there so what may happen is us buying a 2nd home down there but maintaining our home in NJ and just drifting back and forth between them. We really don't know at this point. But unless the political landscape and demographics there change significantly, we're not that keen on moving into that craziness.

[kork13]

Caveat: I have no roots, which dramatically colors my opinions about this. I'm in the military, and I don't really have a "home state." My father was a military turned NOAA meteorologist with a focus on typhoons/hurricanes, so we moved alot. The longest place I've ever lived was in Guam, where I spent a total of 15 years of my youth (in increments of 3yrs, then 5 yrs, then 7yrs), and I do claim Guam as "home" when someone asks where I'm from. But I have zero interest in ever returning to live there as an adult -- it's way too expensive, and outrageously too much corruption/nepotism. Over my 34 years thus far, I've lived in over a dozen cities & a half-dozen countries; I've visited dozens of countries on nearly every continent (here's looking at you, Antarctica...), and almost every state (I need to take a trip through the northeast). All of that to say that I'm not strongly tied to any one place.

So our plan for retirement is to find somewhere--anywhere--that we enjoy, and make that a home base...for as long as it suits us. Right now, Alaska & Colorado are both strong contenders. So are Spain, Germany, Australia, or some other country I haven't yet visited.... In all likelihood, we'll travel from that home base for a large portion of the year. I see living in either a motorhome or random "short-term" (weeks to months) vacation rentals for extended stretches as a strong, very desirable possibility. DW wants to backpack Europe and see what we discover. In short, the wanderlust is strong with us. I talk to folks all the time who were born, raised, and grew old while living in the same singular town/city/state...that concept is so incredibly foreign and frankly disturbing to me...I could never do it. Seeing the same things all the time is boring, and traps your mind into a very narrow view of the world.

For me, the question really becomes where/when will I ever fully settle ... and at present, I have no idea... nor do I care.

[srblanco7]

We're still, in general, thinking Florida. Likely the Fort Meyers/Naples area. However, anywhere from VA to FL is feasible. Looking for a relaxed pace, golf, nice weather, a pool and quite a bit of outdoor living space.

[cypher1]

For those that have responded, would most of you actually transition to that destination several years before retiring, or after?

[HundredK]

Since he just registered his address there, he's saving another 6% for state taxes.

I'm obviously not sure where your friend lives now, but in some states, it doesn't matter if your address is elsewhere, if you work within the state, you file a tax return for the state you work in (it usually depends on how much time you spend working within that state). I have a friend who lives in TN and flies to CA to work for 2 weeks every month. She has to file a CA return as well as a TN return.

As for retirement, I would absolutely love to retire in a different country, but the countries I would like to retire to aren't so much wanting older Americans these days. So our plan is to settle in a home base in the US but spend most of the time on the road. We may also look into getting wealth visas for the countries we are really interested in staying long term in.

[disneysteve]

For those that have responded, would most of you actually transition to that destination several years before retiring, or after?

It's highly unlikely we would relocate before I retired. I have zero interest in finding a new job somewhere else and starting over again in my late 50s or early 60s, especially a job that I'd likely only have for a few years.

That said, my job is such that I could theoretically keep it and still relocate. If I can drop to part time and arrange my schedule right, I could spend most of my time in Florida and fly back to NJ every couple of weeks to put in my work hours. I could work 4 out of every 14 days in NJ and spend the other 10 in Florida. The back and forth would probably get old fast, though, so I doubt I'd actually do that for long but it is an option.

Telehealth is also a growing thing. If that continues, it's possible I could shift to doing that exclusively in which case I could be anywhere and still be treating patients in NJ as long as I'm licensed there.

It will be very interesting to see what happens in my field and my job over the next couple of years.

[srblanco7]

For those that have responded, would most of you actually transition to that destination several years before retiring, or after?

We’re not planning to relocate until after we retire as we’re still working to get DS thru high school and off to college. I think we’ll likely take advantage of the freedom offered by retirement to travel to potential retirement destinations and get a better feel for the area and neighborhoods.

[LivingAlmostLarge]

This trip to hawaii in December solidfied it for us. We are definitely going to retire part-time somewhere warm. I can't stand the cold. It is too difficult for me. DH has agreed as well. We happened to be with friends who also want to retire to hawaii. I'm willing to not do hawaii but arizona or somewhere cheaper, but I like hawaii obviously. Anyway they are planning on retiring to hawaii and DH wants friends. So there are too many moving parts and variables for us to decide on.

[ua_guy]

Not necessarily out of state. But we do plan on moving within the region to where home/land prices and property taxes are significantly lower. We're happy with the location and climate in general.

For those that have responded, would most of you actually transition to that destination several years before retiring, or after?

It's too far off to say with any certainty, but both of us have talked about wanting to make it happen sooner rather than later. Don't most people? Lol.

[cypher1]

Not necessarily out of state. But we do plan on moving within the region to where home/land prices and property taxes are significantly lower. We're happy with the location and climate in general.


It's too far off to say with any certainty, but both of us have talked about wanting to make it happen sooner rather than later. Don't most people? Lol.

LOL I definitely agree that time is on our side to decide. I think most of us it may be awhile to actually to make that decision, plus there may be additional factors or externalities to consider. For example, I don't plan to marry or have kids (never say never), but being closer to my older parents is a big one, plus I still don't mind MN. Also depending on the next 10 years with health, career/income, investments, my outlook could very well shift to FIRE, though.

But I do admit I have a small calling for a warmer/desert type state. I feel AZ, NV,UT, or even CO may be the direction I turn for later phase in life. We can all dream.

[LivingAlmostLarge]

LOL I definitely agree that time is on our side to decide. I think most of us it may be awhile to actually to make that decision, plus there may be additional factors or externalities to consider. For example, I don't plan to marry or have kids (never say never), but being closer to my older parents is a big one, plus I still don't mind MN. Also depending on the next 10 years with health, career/income, investments, my outlook could very well shift to FIRE, though.

But I do admit I have a small calling for a warmer/desert type state. I feel AZ, NV,UT, or even CO may be the direction I turn for later phase in life. We can all dream.

Never say never about marriage and kids. Could hit you at 45 and you'll be starting that family at 50!

[cypher1]

Never say never about marriage and kids. Could hit you at 45 and you'll be starting that family at 50!

[riverwed070707]

I will retire out of country. Country is still TBD. I have some ideas but currently plan is once DD graduates to sell the house and slow travel for a while. I've spent time in Central America - would still like to explore SE Asia, Europe and South America. When (if??) I get tired of traveling, I'll likely retire to Latin America somewhere. I belong to a ton of expat forums and groups and have spent extensive time researching the best places to retire as a US citizen. It's the primary driver of my early retirement goals and a big part of how I found this forum.

[GoodLiving]

I've lived in the same state within about a 60 mile radius my whole life. Roots and stability because of raising my son, I always dreamed of leaving because it's what you often do if you can't. At this point in my life, I'm not sure I would adapt well to another place. It's important to me to be in a more progressive area with racial diversity. I'd like the cost of living to be less but since I'm in fly over country, I don't think it could be less with access to healthcare, culture community and an airport. I love the idea of the PNW but cost of living is high in the metro areas which is where the multicultural areas would likely be. My spouse and I plan to do some van travel to see those wonderful places and if something strikes our fancy, we might go but moves are expensive. If anything AZ is possible but probably only seasonally because we don't like it too hot. I'd like to be nomadic with a home base. Despite all of that, I don't feel particularly attached to the place but I'm sure I would probably miss it if I wasn't here.