Hello Wendy,, Yes it is frustrating when the market is going down and of course this hurts our savings. I see two phases here. One is the Fed dealing with the inflation and the second one is if there is a recession that hits after the rate increases. Right now we just have to be patient and monitor the situation closely. We could get a lift higher in late September or October, we will just have to wait and see. This time of the year is usually the weakest for the stock market
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Credits goes to " Izella Annette Anderson " one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
My problem is I'm too lazy to move. LOL. A lot of folks complain about the mid-western state I live in, but living in the mid-west has pluses as we have plenty of fresh water, the weather this summer has been quite mild, easy access to shopping, dining, travel and recreation. Using some common sense, finding a fairly safe living area isn't too difficult.
@@aquabliss9194 The often maligned Illinois. LOL. Ok, winters can be pretty brutal here. But despite all the negatives tossed about, there still are a lot of pluses. And the area I live in is very friendly to my lifestyle and interests. I'm retired and if I need a break from the winter, the airport is maybe 40 minutes away. I know relatives living in Sun Belt hot spots, and listen to them complain about oppressive heat and loud neighbors, and strangers at their front door. I have none of that.
Hello Chess Dad, Yes, the mid-western part of the USA, along with the south seem to be real stable areas. When you get out on the east or west cost, then that is where some of the things you mentioned become a little bit more challenging.
Not making up to a million before retirement is unfulfilled retirement.!! It’s such a blessing that my wife and I aren’t just married, but we’re also each other’s best strategic partner in business. I’m great at what she lacks, she’s great at what I lack and we have a Fin. Adviser to work with. Praise God!! And thank you for this awesome content!!!
You have done great for yourselves. I understand the fact that tomorrow isn't promised to anyone, but investing today is a hard thing to do for me now because I have no idea of how to get a valid adviser to work with. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.
Credits to *ROCH DUNGCA-SCHREIBER,* she saw me through the process. You can glance her name up on the internet and verify her yourself. she has years of financial market experience.....
Home affordability is not just about the costs of the housing. It's also about the household incomes. Prices for homes can be higher in more affordable counties and vice versa. Since retirees aren't generally working, the actual cost of housing, insurance, and property taxes is way more important.
Healthcare should’ve be AT THE TOP of this list. Because as we get older, we often (VERY often) need more advanced medical care (cardiac, neurological, and orthopedic).
Hello Janice, yes, safety is important when thinking about where to live in retirement. I would like to think we have a safe country to live in, but certain areas seem to be going downhill fast.
Renting or short term living where you are "home shopping" is pretty important although not foolproof, I often visited an area I eventually bought a home in and within 2 years of purchasing the neighborhood I bought in completely changed from mostly owner occupied to rentals , from a stable neighborhood to a transient type . There are a few holdouts as single homeowners but every other house went rental (maybe more). There are constantly mattresses on the curb due to people constantly moving in and out of rentals , some single family homes even got turned into multi family rentals and the elementary school just down the street that had been there for 100 years and completely modernized was sold off by the district to a developer for $20,000 along with 2 city blocks of property to be torn down and turned into single family owner occupied homes but instead the developer , flipped the building and property for $269k to a different division with out the restriction of a teardown to build homes there and it's going to be converted into apartments with 70 units. So you can do your homework and either a crazy neighbor with barking dogs moves next door or the city allows absolutely bizarre zoning changes within feet of your home.
Very nice, I'm retired and selling my house in NC this summer to full time RV for a year or two just to go spend time in a few places I want to consider my final stop. Eastern TN is the top pic but like your slides show the housing costs are very high. Just love those mountain views.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
One crucial aspect of earning profits from stocks is to avoid being frightened and selling them prematurely. It is vital to understand that stocks should not be treated as mere lottery tickets. Consider acquiring the assistance of a financial advisor to navigate your investments.
You are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
*@elsiechamberlain7773* I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.
I’m 56, born and raised in NJ. 2021, my wife and I decided to build our retirement home in SC even though I am a few years away from retirement. Besides the home prices and taxes ( which are absolutely ridiculous) we got so much more for our money! I will benefit greatly when I sell my current home but we can’t wait to start our new lives in 2027!!😎
We looked at the issues we were concerned about most......better health care, taxes on retirement income, crime rates, closeness to grandchildren, and job availability for younger spouse. We chose Iowa and moved here six months ago from Montana. So far it is better than expected!
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@GabrielAnthony-09 The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
I retired from my home state of Ohio and retired to downstate Illinois. I looked around the Midwest only because I've live in the Midwest all my life and plan on dying here. The numbers for Illinois isn't as bad as it may seem because 65% of the people in Illinois lives in Chicago and it's collar counties and it's much more expensive to live up there. I couldn't find a "comparable house" that I bought here in downstate in any of the other states that didn't cost a hundred thousand dollars or more. As far as taxes we don't have property taxes on our vehicles,many states do, No state income tax on retirement income in some states you do and that's very important when it's time for your RMDs, you can get your license plate tag for $10.00 a year as a senior, you get $6,000 if you own a home and another $5,000 off your tax assessment if your a senior. Gas tax doesn't effect me I usually use about 4 gallons a month if I drive a lot. The town I live in has free bus service for anyone if I want to use it and there's an Amtrak station a few blocks away from me. We also have a university in town. For those that know me they all know I miss Ohio I wish it was different.
@@WWPlaysHoldem I know what you mean about the importance of good medical services. I retired to my wife's hometown of Macomb, IL. As anywhere you live there are pros and cons. I live about 8 blocks from the towns hospital in my opinion it's not that great and I prefer to go to Peoria about 85 miles away and my primary doctor is in Galesburg about 50 miles away they also have an O.S.F. Hospital in Monmouth 30 miles away. For anything serious I go to Peoria and In my opinion they have a great hospital and medical services there at O.S.F. Saint Frances Peoria and I'm comparing it to Cleveland Clinic. Some of the things that really stuck out here is how quiet it is here I had a little bit of adjustment for that and it's very dark at night here not many street lights . As far as traffic here there is very little and even in Peoria there is very little traffic. I am comparing it to the Cleveland/Akron area. As far as stores and restaurant here there isn't much of that either. If I had my choice knowing what I know now I would of preferred living in Peoria but the housing cost, property tax,car insurance and utility bills are very low. I use to live in a suburb of a large city in Ohio so I find it's is true about cultural shock. So no matter where you decide to live spend a little bit of time there. Best of luck where you decide to move to.
Personally,....safety is the #1 category for me.If my girlfriend and I (both retired) dont feel safe than it is a ''no go''.Also,....I have crunched the numbers for about 8 different states using a standard 20K in S.S and 25K withdrawls from investments each year,.....and the amount of taxes(not being a homeowner)is very similar. In general the states get their money from you somehow-someway.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family...
@JasonStathamOffical Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY* , a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help.
@JasonStathamOffical *MARGARET MOLLI ALVEY* her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy
Excellent video, thorough! I've been on a moving merry-go-round, but analysis-paralysis stops the process every time.. So I must conquer that before I waste any more time thinking!
Here is what I been finding, one area is low taxes but what you save in the lower taxes, the auto and home owners insurance gobbles up all you save in less taxes
Hello Dustin, As for my personal pick, I live in the Pacific Northwest, but I am considering a move. In general, I like the west coast, but not what seems to going on in Calif. As you saw on the map, the west coast is more expensive as far as real estate cost and utilities like electricity and water will be going up for many. I have family in TN. and Ms. If I were to move out of the west, I would pick one of those two states. What do you like?
I live in Oregon and have a few more years until I can retire. I like Montana for family and Florida for the weather. Have some friends who left Oregon and traveled the US looking for a new home and they picked Tennessee and love the people there so far.
Hello Dustin, Maybe you can work it out to get Montana for the summer and Florida for the winter. I'm in WA myself and like that concept of PNW in the summer and south for the winter.
Would you be going to northern AZ in the summer or winter? The summers are not as hot there and might be cool for the winter, but not as cold as the PNW. The PNW is not really that cold, just the dampness for six months makes it difficult to be outside.
I want to retire close to Washington DC/MD/VA or in counties within DMV . However I am single and concern about affordability and taxes . What would be your suggestion to buy my apartment/condo and not isolated . I know it’s a lot but I have to start with a list of what I want and adjust.
On the county map with red yellow and green, you can find pigeon forge, seveirville, and gatlinburg. These are all expensive, but because people own secondary houses there, and it is a vacation and tourism area. Down by huntsville al. You will see yellow, but houses are extremely expensive there.
A lot of surveys on best places for Seniors to live also include ranking due to number of Seniors already there and that’s why Florida is always high on the list, often number one.
Good analysis. The bank rate data is flawed when the average state affordability gets a very high weight. States are large and averages become skewed - the county maps are very helpful here. Better healthcare is localized in metro and areas where universities are so the weighting by state is a problem also as with all of the other items.
In some of those states there is state income tax on Social Security. In some states there is no income tax on Social Security. That make a difference too. In some of those places the low cost of living is due to a high poverty rate.
Here is a link that has a lot of good information. www.coli.org/county-cost-of-living-index-and-median-household-income-how-cost-of-living-differences-decrease-real-earnings/ure.com/cost-of-living-calculator/
I think the reason why Florida cost of homes vs income is not a good measure because many people in Florida are retired so their taxable income is low.
new england is home for us. great healthcare, no hurricanes, tornadoes, well, maybe one in40 years, no big forest fires . winters aren’t as bad as they use to be . live the seasons. love it here. thought of florida but it’s so darn hot in the summer. storms are an issue. the how’s , insurance for flood home and cars is one of the highest in the nation . nice to visit twice a year , spring and fall but that it. not cheap there any more. are car insurance is $600 a year full coverage. but gas at costco it’s $2.99 right now . well stay put here in massachuetts .
@@mayaros736 When you consider taxes, you need to look at ALL the taxes involved. I've lived in both MD and TN. For instance, TN doesn't tax income but sales taxes are much higher than MD's. That slams low income people but eases the burden on higher income people who don't spend all of their money to survive. If you are spending a lot to get by, factor the sales tax v. income tax into your thinking because no income tax but high sales tax may hurt you bad.
Median housing costs tend to be irrelevant for retirees. Here's the reason. Very few people retire as a family. They retire as an individual or a couple. So the home doesn't have to be as large as for a family of four or five. So for ballpark numbers, a retirement home can be in the range of $300K in places where the median is $600K, sacrificing little if anything to the quality of the home. This is a significant change to the cost of living in certain states.
Good point regarding hosing costs for retirees. Also, low cost housing areas tend to also have high crime, low economic vitality, poor retail and service options, and poor municipal services. Optimizing low cost housing can minimize the other desired attributes of a place to live.
Keep in mind there is a difference in costs between cities within states. Let me give you an example, the difference in the cost of living in NYC (which has a city tax) and the rest of the state which does not have a city tax. The cost of living difference between NYC and the rest of the state are significant.
I love your reports. Sounds like the Southeast is the best all around states to retire. My wife and I live in Seattle. As you noted, very expensive here. Also a big factor that you should bring up is political climate. We hate the political environment in Seattle and what to move to a state that shares our political views. Also I think another question is do you want to live in the suburbs or the cities. We want to live in the country with less people but not so for away we do not have amenities too far away.
Hello Randy, Thanks for your comments about the political climate and living in the suburbs. I don't get into the political talk since their are so many others that do. But it is important to live around like minded people even though we should all get along no matter your political view point. The division has increased to some severe levels where you could be hurt if you expressed a certain viewpoint. I agree that it is a good idea to live close to services you will need, like the grocery store, retail stores, parks and etc.... .
I truly think there are about 5 states that the cost of living is just ridiculous, like New York and California. Healthcare I feel as far as the basics is probably good in any state. Now I know when it comes to specific disease's there are special hospitals in certain states which is why I am leaning heavily on a medi gap plan when I start medicare. I think crime in every state has good and bad areas even though it seems these days to be spreading to the good areas too. Now the weather can be a big factor. Having gone through hurricane Ida last year and seeing the devastation it caused can definitely play a role for some on where to retire. Now I did move 6 miles more North when we built our house earlier this year, but I don't think it matters a whole lot with a storm that strong. I think a big issue for some is the children. I could live almost anywhere other than those really high cost of living states, but my wife does not want to live far way from the kids and grand kids. Right now my son "The Cajun Ninja" is 10 miles away in Thibodaux, la. and my daughter is about a 100 miles away in Lafayette, La. The 100 miles does make it harder to see them more often, but my daughter is a Speech Therapist making really good money with the company she is with and her husband is the high school football coach so I get it, plus they lucked out on their house as it was the contractor, owner of the subdivision's house. It was very well built with a lot of extras. They also have a huge stocked pond for fishing and a community pool. My daughter was actually working with their son on his speech issues before they sold the house to her so I think they took a liking to my daughter. They have been there almost 3 years now and her house has increased in value by almost a 100k. I have a friend that has been with coca cola for 30 years. He moved from Thibodaux to Schreveport in north Louisiana about 2 years ago. He took a promotion with coke but had to move. He loves it up there. Talking to my wife she says that is too far to be away from the family so I know another state is out of the question. I guess anywhere we live will have pros and cons so it just depends on the person. Some people do not even have the options so I consider myself fortunate to just be able to have that if I ever do move. Great Video!!!!!
Thanks for your update on your family and where they are living. I was in MS a week or so ago and not too far from you as compared where I live in the Pacific Northwest. I have to admire your love for Louisiana with the number of hurricanes that come through. Every area does have some type of weather situation to deal with. It sounds like everyone in your family is doing good. You are a great positive influence on them. Good family and work ethic.
This gives me very little insight. There are way too many factors to include. Many of those factors you didn't mention at all. How many of these states give tax breaks to retirees? What does it take to qualify for these tax breaks? Are there age restrictions? Lifestyle wasn't taken into consideration. Culture is too broad to be a weighted value. What culture? What do the authors consider culture?Concerts? Live theater? Professional sports? Museum? OR Church attendance? Harvest festivals? High school sports? Outdoor sportsmanship? As a retiree will I benefit from low cost of services because of the low wages? Are the things I'm likely to buy expensive or more affordable? How does state and local laws affect my rights to own firearms? How do local laws, codes and ordinances (and HOAs) affect my real property rights(aka real estate)? What about state and local regulations like vehicle inspections, vehicle emissions testing, and right to repair? So, so much depends on lifestyle and what you want as an individual. Good luck and God bless.
your lack of explanation about cost of living is hilarious. FL, for example is higher as a state because of Miami, Jax, and Tampa. Outside those areas, cost of living is not outside most of the US. Also, not including taxation in cost of living info is misleading. If you add taxes in, many states become higher than average.
Thank you very much! Illinois has some of the highest Property, Gas, State tax and over regulated. New gun law and new no bail ( get of jail) law for kidnappings, carjackings, as assaults ( shooting / stabbings. But healthcare is good. Tn. Looking better to me.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
@@IbrahimIsabella-00 That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
@@AlilatTiamiyu MARGARET MOLLI ALVEY Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
@@zubairadamu2477 She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
Do you think it is a smart time to relocate for retirement now?
We're trying to get out as soon as we can. To a different country. Our savings are dwindling 😞
Hello Wendy,, Yes it is frustrating when the market is going down and of course this hurts our savings. I see two phases here. One is the Fed dealing with the inflation and the second one is if there is a recession that hits after the rate increases. Right now we just have to be patient and monitor the situation closely. We could get a lift higher in late September or October, we will just have to wait and see. This time of the year is usually the weakest for the stock market
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
@@ThomasChai05Impressive can you share more info?
Credits goes to " Izella Annette Anderson " one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
Her website appeared right away, You've saved me several hours of research, I appreciate it.
My problem is I'm too lazy to move. LOL. A lot of folks complain about the mid-western state I live in, but living in the mid-west has pluses as we have plenty of fresh water, the weather this summer has been quite mild, easy access to shopping, dining, travel and recreation. Using some common sense, finding a fairly safe living area isn't too difficult.
What state just curious?
@@aquabliss9194 The often maligned Illinois. LOL. Ok, winters can be pretty brutal here. But despite all the negatives tossed about, there still are a lot of pluses. And the area I live in is very friendly to my lifestyle and interests. I'm retired and if I need a break from the winter, the airport is maybe 40 minutes away. I know relatives living in Sun Belt hot spots, and listen to them complain about oppressive heat and loud neighbors, and strangers at their front door. I have none of that.
Hello Chess Dad, Yes, the mid-western part of the USA, along with the south seem to be real stable areas. When you get out on the east or west cost, then that is where some of the things you mentioned become a little bit more challenging.
Cost of living in Florida should factor in building a sea wall around your property.
Not making up to a million before retirement is unfulfilled retirement.!! It’s such a blessing that my wife and I aren’t just married, but we’re also each other’s best strategic partner in business. I’m great at what she lacks, she’s great at what I lack and we have a Fin. Adviser to work with. Praise God!! And thank you for this awesome content!!!
You have done great for yourselves. I understand the fact that tomorrow isn't promised to anyone, but investing today is a hard thing to do for me now because I have no idea of how to get a valid adviser to work with. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.
Credits to *ROCH DUNGCA-SCHREIBER,* she saw me through the process. You can glance her name up on the internet and verify her yourself. she has years of financial market experience.....
Thanks so much I was able to find her page and I already leave her a message...
Home affordability is not just about the costs of the housing. It's also about the household incomes. Prices for homes can be higher in more affordable counties and vice versa. Since retirees aren't generally working, the actual cost of housing, insurance, and property taxes is way more important.
Healthcare should’ve be AT THE TOP of this list. Because as we get older, we often (VERY often) need more advanced medical care (cardiac, neurological, and orthopedic).
Safety is very important for me as well as affordability and they aren't always compatible. Thanks for the information.
Hello Janice, yes, safety is important when thinking about where to live in retirement. I would like to think we have a safe country to live in, but certain areas seem to be going downhill fast.
Renting or short term living where you are "home shopping" is pretty important although not foolproof, I often visited an area I eventually bought a home in and within 2 years of purchasing the neighborhood I bought in completely changed from mostly owner occupied to rentals , from a stable neighborhood to a transient type . There are a few holdouts as single homeowners but every other house went rental (maybe more). There are constantly mattresses on the curb due to people constantly moving in and out of rentals , some single family homes even got turned into multi family rentals and the elementary school just down the street that had been there for 100 years and completely modernized was sold off by the district to a developer for $20,000 along with 2 city blocks of property to be torn down and turned into single family owner occupied homes but instead the developer , flipped the building and property for $269k to a different division with out the restriction of a teardown to build homes there and it's going to be converted into apartments with 70 units. So you can do your homework and either a crazy neighbor with barking dogs moves next door or the city allows absolutely bizarre zoning changes within feet of your home.
Very nice, I'm retired and selling my house in NC this summer to full time RV for a year or two just to go spend time in a few places I want to consider my final stop. Eastern TN is the top pic but like your slides show the housing costs are very high. Just love those mountain views.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Mind if I ask you to recommend this particular coach you using their service?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
One crucial aspect of earning profits from stocks is to avoid being frightened and selling them prematurely. It is vital to understand that stocks should not be treated as mere lottery tickets. Consider acquiring the assistance of a financial advisor to navigate your investments.
You are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
*@elsiechamberlain7773* I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.
CAMILLE ALICIA GARCIA maintains an online presence. Just make a simple search for her name online.
I noticed that a high cost state like NY does not tax my pension or SS which needs to be factored in.
I’m 56, born and raised in NJ. 2021, my wife and I decided to build our retirement home in SC even though I am a few years away from retirement. Besides the home prices and taxes ( which are absolutely ridiculous) we got so much more for our money! I will benefit greatly when I sell my current home but we can’t wait to start our new lives in 2027!!😎
Thanks for the very thorough analysis. One of the most valuable videos for deciding where to affordably retire.
We looked at the issues we were concerned about most......better health care, taxes on retirement income, crime rates, closeness to grandchildren, and job availability for younger spouse. We chose Iowa and moved here six months ago from Montana. So far it is better than expected!
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@GabrielAnthony-09 That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@ArabellaBeatrice-099 My advisor is VICTORIA CARMEN SANTAELLA;
You can look her up online
@@GabrielAnthony-09 The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
I retired from my home state of Ohio and retired to downstate Illinois. I looked around the Midwest only because I've live in the Midwest all my life and plan on dying here. The numbers for Illinois isn't as bad as it may seem because 65% of the people in Illinois lives in Chicago and it's collar counties and it's much more expensive to live up there. I couldn't find a "comparable house" that I bought here in downstate in any of the other states that didn't cost a hundred thousand dollars or more. As far as taxes we don't have property taxes on our vehicles,many states do, No state income tax on retirement income in some states you do and that's very important when it's time for your RMDs, you can get your license plate tag for $10.00 a year as a senior, you get $6,000 if you own a home and another $5,000 off your tax assessment if your a senior. Gas tax doesn't effect me I usually use about 4 gallons a month if I drive a lot. The town I live in has free bus service for anyone if I want to use it and there's an Amtrak station a few blocks away from me. We also have a university in town. For those that know me they all know I miss Ohio I wish it was different.
How is the medical care which is a big concern for many seniors. I live in Las Vegas and it really sucks here, taking 6 months to see a specialist.
@@WWPlaysHoldem I know what you mean about the importance of good medical services. I retired to my wife's hometown of Macomb, IL. As anywhere you live there are pros and cons. I live about 8 blocks from the towns hospital in my opinion it's not that great and I prefer to go to Peoria about 85 miles away and my primary doctor is in Galesburg about 50 miles away they also have an O.S.F. Hospital in Monmouth 30 miles away. For anything serious I go to Peoria and In my opinion they have a great hospital and medical services there at O.S.F. Saint Frances Peoria and I'm comparing it to Cleveland Clinic. Some of the things that really stuck out here is how quiet it is here I had a little bit of adjustment for that and it's very dark at night here not many street lights . As far as traffic here there is very little and even in Peoria there is very little traffic. I am comparing it to the Cleveland/Akron area. As far as stores and restaurant here there isn't much of that either. If I had my choice knowing what I know now I would of preferred living in Peoria but the housing cost, property tax,car insurance and utility bills are very low. I use to live in a suburb of a large city in Ohio so I find it's is true about cultural shock. So no matter where you decide to live spend a little bit of time there. Best of luck where you decide to move to.
Great video! Very, very informative. Thanks for sharing!!
Hello Pamela, Thanks for your comment and thanks for watching.
Personally,....safety is the #1 category for me.If my girlfriend and I (both retired) dont feel safe than it is a ''no go''.Also,....I have crunched the numbers for about 8 different states using a standard 20K in S.S and 25K withdrawls from investments each year,.....and the amount of taxes(not being a homeowner)is very similar. In general the states get their money from you somehow-someway.
Hello tony tony, Great comment about the states will get their money somehow. Yes, safety is important also. Thanks for watching.
Same here, #1 is safety.
Rankings according to each category are helpful.
However, it's up to the individual as to which category rankings are priority,
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family...
@JasonStathamOffical Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY* , a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help.
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Very well researched sir. Thanks!!
As long as I am far away from twenty-one 15 minute cities they are planning.
We just concern about property taxes and health care.
Thanks for sharing this very informative information
Hello Walter, thanks for watching and thanks for your comment.
Excellent video, thorough!
I've been on a moving merry-go-round,
but analysis-paralysis stops the process
every time.. So I must conquer that before I waste any more time thinking!
Here is what I been finding, one area is low taxes but what you save in the lower taxes, the auto and home owners insurance gobbles up all you save in less taxes
Very informative
Hello Judith, Thanks for watching and thanks for your comment.
Great analysis
Hello user3244, Thanks for your comments. It seems like there are fewer and fewer locations that would actually be called lower cost these days.
Thanks for that information.
Great info! What is your personal pick?
Hello Dustin, As for my personal pick, I live in the Pacific Northwest, but I am considering a move. In general, I like the west coast, but not what seems to going on in Calif. As you saw on the map, the west coast is more expensive as far as real estate cost and utilities like electricity and water will be going up for many. I have family in TN. and Ms. If I were to move out of the west, I would pick one of those two states. What do you like?
I live in Oregon and have a few more years until I can retire. I like Montana for family and Florida for the weather. Have some friends who left Oregon and traveled the US looking for a new home and they picked Tennessee and love the people there so far.
Hello Dustin, Maybe you can work it out to get Montana for the summer and Florida for the winter. I'm in WA myself and like that concept of PNW in the summer and south for the winter.
Yes,
Snow-birding might work
I like Arizona too, especially heading north of Phoenix an hour or two
Would you be going to northern AZ in the summer or winter? The summers are not as hot there and might be cool for the winter, but not as cold as the PNW. The PNW is not really that cold, just the dampness for six months makes it difficult to be outside.
I want to retire close to Washington DC/MD/VA or in counties within DMV . However I am single and concern about affordability and taxes . What would be your suggestion to buy my apartment/condo and not isolated . I know it’s a lot but I have to start with a list of what I want and adjust.
On the county map with red yellow and green, you can find pigeon forge, seveirville, and gatlinburg. These are all expensive, but because people own secondary houses there, and it is a vacation and tourism area.
Down by huntsville al. You will see yellow, but houses are extremely expensive there.
A lot of surveys on best places for Seniors to live also include ranking due to number of Seniors already there and that’s why Florida is always high on the list, often number one.
There are many babe bummer can't afford to buy a house nova days, whats the best state to retire on budget??
Good analysis. The bank rate data is flawed when the average state affordability gets a very high weight. States are large and averages become skewed - the county maps are very helpful here. Better healthcare is localized in metro and areas where universities are so the weighting by state is a problem also as with all of the other items.
Hotter than hell is not a favorable climate indicator for me.
In some of those states there is state income tax on Social Security. In some states there is no income tax on Social Security. That make a difference too. In some of those places the low cost of living is due to a high poverty rate.
Thank you!
do you have a link for the information given in this video?
Here is a link that has a lot of good information. www.coli.org/county-cost-of-living-index-and-median-household-income-how-cost-of-living-differences-decrease-real-earnings/ure.com/cost-of-living-calculator/
Wyoming was rated as one of the five worst states in terms of healthcare availability (2022).
I think the reason why Florida cost of homes vs income is not a good measure because many people in Florida are retired so their taxable income is low.
new england is home for us. great healthcare, no hurricanes, tornadoes, well, maybe one in40 years, no big forest fires . winters aren’t as bad as they use to be . live the seasons. love it here. thought of florida but it’s so darn hot in the summer. storms are an issue. the how’s , insurance for flood home and cars is one of the highest in the nation . nice to visit twice a year , spring and fall but that it. not cheap there any more. are car insurance is $600 a year full coverage. but gas at costco it’s $2.99 right now . well stay put here in massachuetts .
Too bad NE is liberal.
You get high taxes on everything else in Taxachusettes
@@mayaros736 When you consider taxes, you need to look at ALL the taxes involved. I've lived in both MD and TN. For instance, TN doesn't tax income but sales taxes are much higher than MD's. That slams low income people but eases the burden on higher income people who don't spend all of their money to survive. If you are spending a lot to get by, factor the sales tax v. income tax into your thinking because no income tax but high sales tax may hurt you bad.
Median housing costs tend to be irrelevant for retirees. Here's the reason. Very few people retire as a family. They retire as an individual or a couple. So the home doesn't have to be as large as for a family of four or five. So for ballpark numbers, a retirement home can be in the range of $300K in places where the median is $600K, sacrificing little if anything to the quality of the home. This is a significant change to the cost of living in certain states.
Good point regarding hosing costs for retirees.
Also, low cost housing areas tend to also have high crime, low economic vitality, poor retail and service options, and poor municipal services.
Optimizing low cost housing can minimize the other desired attributes of a place to live.
Paying more for a house may also equal to your home value staying steady or increasing. Balance...
Keep in mind there is a difference in costs between cities within states. Let me give you an example, the difference in the cost of living in NYC (which has a city tax) and the rest of the state which does not have a city tax. The cost of living difference between NYC and the rest of the state are significant.
I love your reports. Sounds like the Southeast is the best all around states to retire. My wife and I live in Seattle. As you noted, very expensive here. Also a big factor that you should bring up is political climate. We hate the political environment in Seattle and what to move to a state that shares our political views. Also I think another question is do you want to live in the suburbs or the cities. We want to live in the country with less people but not so for away we do not have amenities too far away.
Hello Randy, Thanks for your comments about the political climate and living in the suburbs. I don't get into the political talk since their are so many others that do. But it is important to live around like minded people even though we should all get along no matter your political view point. The division has increased to some severe levels where you could be hurt if you expressed a certain viewpoint. I agree that it is a good idea to live close to services you will need, like the grocery store, retail stores, parks and etc.... .
Thanks for sharing your experience
Iowa???
Florida weather? It's virtually inhabitable between May and Sep...miserable humidity...and hurricanes. Why do Floridians travel north for the summer?
Because we like it!!!!!
@@Linda-ic1il You made my point....you travel north because you like the north.
I truly think there are about 5 states that the cost of living is just ridiculous, like New York and California. Healthcare I feel as far as the basics is probably good in any state. Now I know when it comes to specific disease's there are special hospitals in certain states which is why I am leaning heavily on a medi gap plan when I start medicare. I think crime in every state has good and bad areas even though it seems these days to be spreading to the good areas too. Now the weather can be a big factor. Having gone through hurricane Ida last year and seeing the devastation it caused can definitely play a role for some on where to retire. Now I did move 6 miles more North when we built our house earlier this year, but I don't think it matters a whole lot with a storm that strong. I think a big issue for some is the children. I could live almost anywhere other than those really high cost of living states, but my wife does not want to live far way from the kids and grand kids. Right now my son "The Cajun Ninja" is 10 miles away in Thibodaux, la. and my daughter is about a 100 miles away in Lafayette, La. The 100 miles does make it harder to see them more often, but my daughter is a Speech Therapist making really good money with the company she is with and her husband is the high school football coach so I get it, plus they lucked out on their house as it was the contractor, owner of the subdivision's house. It was very well built with a lot of extras. They also have a huge stocked pond for fishing and a community pool. My daughter was actually working with their son on his speech issues before they sold the house to her so I think they took a liking to my daughter. They have been there almost 3 years now and her house has increased in value by almost a 100k. I have a friend that has been with coca cola for 30 years. He moved from Thibodaux to Schreveport in north Louisiana about 2 years ago. He took a promotion with coke but had to move. He loves it up there. Talking to my wife she says that is too far to be away from the family so I know another state is out of the question. I guess anywhere we live will have pros and cons so it just depends on the person. Some people do not even have the options so I consider myself fortunate to just be able to have that if I ever do move. Great Video!!!!!
Thanks for your update on your family and where they are living. I was in MS a week or so ago and not too far from you as compared where I live in the Pacific Northwest. I have to admire your love for Louisiana with the number of hurricanes that come through. Every area does have some type of weather situation to deal with. It sounds like everyone in your family is doing good. You are a great positive influence on them. Good family and work ethic.
What the heck is meant by Wellness? I believe health care availability would be number 1 or 2 on my list as I become older.
Why are ppl moving to Idaho?
Wyoming ?
Leave the website link!
Jadony1016, it's stated above in the description and look under that!
Curious where Wyoming ranks it seemed to left off the list
Health care is awful! Winter and winds are the worst!!!
Pretty sure Florida's Culture and Diversity Rank has dropped considerably.
No it really has not........
10k new boomers Daily. 5.7k boomers dying daily. Eventually we'll all be gone, replaced by younger generations.
This gives me very little insight. There are way too many factors to include. Many of those factors you didn't mention at all. How many of these states give tax breaks to retirees? What does it take to qualify for these tax breaks? Are there age restrictions? Lifestyle wasn't taken into consideration.
Culture is too broad to be a weighted value. What culture? What do the authors consider culture?Concerts? Live theater? Professional sports? Museum? OR Church attendance? Harvest festivals? High school sports? Outdoor sportsmanship?
As a retiree will I benefit from low cost of services because of the low wages?
Are the things I'm likely to buy expensive or more affordable?
How does state and local laws affect my rights to own firearms? How do local laws, codes and ordinances (and HOAs) affect my real property rights(aka real estate)? What about state and local regulations like vehicle inspections, vehicle emissions testing, and right to repair?
So, so much depends on lifestyle and what you want as an individual.
Good luck and God bless.
your lack of explanation about cost of living is hilarious. FL, for example is higher as a state because of Miami, Jax, and Tampa. Outside those areas, cost of living is not outside most of the US. Also, not including taxation in cost of living info is misleading. If you add taxes in, many states become higher than average.
This is HS. Your words don’t match the text comments.
Thank you very much! Illinois has some of the highest Property, Gas, State tax and over regulated. New gun law and new no bail ( get of jail) law for kidnappings, carjackings, as assaults ( shooting / stabbings. But healthcare is good. Tn. Looking better to me.
Why is culture and diversity even a factor? Its so subjective. Biased toward the personal views of the person assigning the score.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
@@IbrahimIsabella-00 That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
@@zubairadamu2477 Mind if I ask you to recommend this particular coach you using their service?
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