Native Californian and newly retired. I love living in California and would never move to another state. My biggest problem with California is that there are too many people here so the traffic can be terrible. So when I hear people are leaving California, I am willing to help them pack their bags.
As a fellow Californian, I understand the frustration with the traffic, which can indeed be daunting at times. However, the state's incredible diversity and natural beauty make it a worthwhile place to call home, even if it means dealing with a few extra cars on the road.
@@marclandrum4933 Yes I do plan my day around rush hour. But the rush hour is getting longer and traffic can get crazy on weekends too where I live. And I can't walk to the coast. Don't get me wrong I will never leave California.
CA is awesome. I’ve lived my whole life here. I retired when I was 55 And I’m just your average Joe. I’m 65 now. I live just outside the Tahoe Forest. I snowboard, snowshoe, hike, bike camp and ride motocross. Yes CA has a sales tax, but I’m retired, so I already own mostly everything I’ll ever need to buy and the property taxes is only 1% If you want to leave CA great! But don’t think there’s a better place to live anywhere in the world.
I lived in California for 40 years and I am retiring in CA. I have worked very hard to buy two income properties that will replace my current income when I retire at 62 in two more years, life is great. Work hard when you have plenty of youth and enjoy life when you don't have it anymore.
I have accumulated a lot of rentals here in CA and the governments tenant friendly laws help me to collect huge rents because nobody wants to be a landlord here with these laws. That means little competition = high rents.
I think what you're saying is- California is a good place to retire IF you already live here and own property in an area where property values have gone up and are valuable. I grew up in San Gabriel Valley. I couldn't afford to live there now without selling my current property. I now live in a valuable area of San Bernardino County where home prices (07/24) are higher than I would pay, but many rural areas in California are affordable still today, especially when you price in, as Cunninghamlegal has pointed out, the climate and AMAZING natural beauty California has. To me, it is pretty priceless. I've never lived anywhere else so I'm not one to compare, but waking up to the sun, beautiful mountains, weather that calls you outside, beaches, rivers... How much is that worth? I'm blessed where I am, not letting our crappy politics kick me out, and have no plans on leaving.
Jim, thank you for this video. I am born and raised in the San Francisco Bay Area for 65 years then I retired and moved to Southern California for the last 6 years. I now live in Carlsbad, CA. I LOVE CALIFORNIA!! I love California for all the reasons that you mentioned but my favorite reason is the diversity. I’m Filipino. I love having a large Filipino population. It wasn’t like that when I was growing up but since 1972 the Filipino people has blossomed. In addition the many ethnic groups in California provide food and culture that provide much diversity. Again, thank you Jim.
California native, 55 years thanks for the positive message. I still appreciate the weather & the beauty. I don’t know much but when I do, I’m definitely not retiring to New Jersey. ~ most interesting man in the world.
Well said! Thank you for the kind words, and it sounds like you're enjoying California's natural beauty-here's to many more years of sunshine and stunning views!
I love this post, thank you! I’m a realtor here in the Bay Area & Santa Cruz coast and sellers who left but they are missing it. I moved to WA state and boy, so glad to have come back! Love the coast and the diversity and The Food! People here in the Bay Area are smart and I think we take it for granted. 😅 Lots of seniors enjoying the coast are loving their quality of lifestyle and our healthcare. Also I take for granted how optimistic we are (work and life) we also have a healthy mental attitude. We also have nice senior communities, affordable! Ask me, I’ve helped others and a great lifestyle, it’s doable.
I'm a lucky one. Live in Northern Calif. Decided decades ago after divorce to live way, way below my means and save and invest. The small city I live in is more affordable rent-wise and safe. Retired 4 years ago and living a level of freedom that can't be articulated, it has to be lived to be fully understood and appreciated. I answer to NOONE. No boss, no wife, no girlfriend. People ask how I've achieved my financial stability, and I reply, "I never re-married." Smiles!
💯 the state as far as the landscape, the weather especially if you live within a mile or so of the coast is definitely in the top of the list of locations that are most comfortable to live in. Unfortunately the politics, the crime, the homelessness, the lack of law enforcement and exorbitantly high taxes in most categories have tarnished our once great state. If your net worth is 50 million and higher, you can live fairly insulated and disconnected like many of the politicians that like to preach about how everything is still “great“ in California
I keep singing that song 'California Dreamin'...but on a summer's day! Getting 60 days+ of 110, and 120 days+ of 100, the Phoenix Valley is becoming unlivable. I have about 4 years left, and a San Diego retirement is only a 5 hour ride west on Interstate 8 - a fairly easy physical move.
Retired early in California, over 5 years now. Still thinking sometimes about going elsewhere. Like Phoenix, but friend said it was 119 F yesterday...I'm wimped out by our great weather.
Went to Phoenix AZ several times for my son's baseball tournaments. It's miserable. 100 deg even at midnight. Day time 110 + sun rays blacked out my phone a few times. No AC, you are done. In california, not even near the coastal, when 100+ deg hot days, under shade, it's 85 to 90 degrees and night rarely over 75 degrees. It is getting more humidity however.
Very informative and educational video. There are so many people from other states that only look at the negative aspects of the state and not the many positive ones. Thanks for showcasing those positive aspects here. Moved to CA from the east coast 16 years ago and will live here for the rest of my life.
I retired in Crescent City, CA from the military at age 38. I teach for a college in Oregon. I really love the beauty of this area but feel like an idiot for retiring here every time I do my income taxes, pay for my car registration, or have to deal with the tax assessor trying to reassess every time a contractor pulls a permit for something. And don’t get me started on the politics. I was a WA resident before I retired and got accustomed to no state income taxes and $200 car registrations (which are now $700). I frequently consider relocating, but haven’t been able to give up the natural beauty and great coastal climate yet. This video helped me feel less like a financial idiot for staying here, but I’m still interested in alternatives!
From my experience, California is really hard to beat! Oregon has an aggressive estate tax (10-16%) for any assets over $1 Million, so that is definitely something worth considering.
We're in the same boat: we let CA rip us off just because the state has great weather & natural beauty, which the horrible government has nothing to do with.
I live in SF 165k/yr with 3 cats they’re my children $500+ for cat food and pet insurance and the rest go to bills rent food 10% for giving to others, fresh produce is a plus and great weather, minimalist lifestyle, its still paycheck to paycheck. I visited Oregon, Texas, NM I still came back to CA it’s so beautiful and the spiritual energy is amazing!
A note about Medi-Cal: I was on it for a few years before I turned 65. Medi-Cal includes fully-paid dental and was some of the best healthcare I ever had.
Thanks for watching! Here's some more details" www.kiplinger.com/slideshow/retirement/t065-s001-free-or-cheap-college-for-retirees-in-all-50-state/index.html#:~:text=California,for%20all%20state%2Dsupported%20colleges.
I spent most of my adult life in CA but lived in TX, CO, VA, MA for work and traveled throughout the US. I decided to come back and stay in CA years ago and did not even realize a lot of these tax and financial benefits. Thank you Cunningham Legal for making me feel real good about my decision.
It’s great to hear that you’re feeling positive about your decision to return to California and that the financial benefits are a pleasant surprise! How have these benefits influenced your plans or goals for your retirement?
Fantastic and comprehensive info! Thank you! And, medical care is not the greatest. In my area, San Jose my friends have trouble finding good doctors who can see them within 40 days. And please consider that ‘Lazy Acres’, when needed will be low quality care. One should consider staying at home with support as long as possible. Don’t consider Lazy Acres as a fail safe when you get older. Please go look at a care facility or at least read the reviews.
California may not have the fastest healthcare system, but it's the place that big specialists call home: Stanford, Cedars-Sinai, UCLA Medical, UC San Diego Health, UCSF Health, UC Davis, etc. Long-Term care is another important factor, and it is very important to do your research.
I moved to Southern California in 1972 from Pennsylvania !!! I have never regretted it !! I love the weather and certainly don’t miss the snow !!! Yes we have our problems here but I still believe that we live in the most beautiful part of the country !!! So nice to finally see a video that boasts of our good points instead of our bad ones !!!
Great video. I'm a 4th generation Californian who married another 4th generation Californian. He joined the Army and we lived out of state for 33 years. Due to smart money management and hard work most of our adult lives, we were fortunate to be able to move back and buy a home on the coast in 2019, and we love being back. I didn't realize how much I missed California and its diversity. I lived in Texas for 19 of the 33 years away, and while I loved it, I love California more. Texas is hot as hell about 7-9 months out of 12, not to mention hurricanes, tornadoes, hail & lightening storms, flooding, droughts - and that's just the climate! Don't get me started on the bugs, especially the mosquitos, roaches, and spiders. Texas has high property taxes and home & auto insurance too! I also lived in Tennessee for 5 years. Liked it sure, but I like California better! People who move away work hard to convince themselves that they don't miss California, but they are fooling themselves. My husband and I will be definitely be retiring here!
@@lilibethbreault5511 I didn’t use to care for Newsome, but I’ll tell you one thing. I’m sure glad he’s got balls to stand up to that prick president that we are now gonna have. Thank you God for that.
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 55, 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.
More reason I enjoy my day to day market decisions is that i'm being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to.
You’ve highlighted some critical challenges that many face in retirement planning. It’s crucial to address these issues proactively. What strategies or solutions do you think could help middle-class Americans better prepare for a secure retirement despite these hurdles?
People can forget about this law office. They have the worst assistants who messed up and had no clue. A publication by the same attorney has so many mistakes in Estate planning.. And this was pointed out by experts.
Great video. For all the hardships of subsisting on SSDI, it's worth it to me because of the Medi-Medi care, full variety of healthcare services available for my chronic psych and physical needs. I grew up and have lived here most of my life, so I'm accustomed to the natural beauty, diversity of people and their cultural contributions, diverse cuisine options and fresh foods galore, the social commitment to and respect for education, and a friends network I would be loath to abandon, even while many of my dearest have moved elsewhere to raise families and nearly all my family in the region died off.
20 years ago we moved to San Diego and it was heaven. Low crime, clean, good roads, good police protection. We recently bought a home in Utah because we have homeless living in front of our Condo building (million dollar plus per condo) and the police will do nothing. We even hired a private guard service to help and they were worthless. Crazy people wander the streets downtown that were formerly virtually crime free. The city roads are full of holes and the city claims they are out of money. We recently had a double murder out front. The Gas Lamp District was so much fun in the past but now has boarded up stores and clubs with homeless insane drug addicts and criminals living the good life while we suffer. I will keep my San Diego property for now (surprisingly the values continue to go up) for now and spend most of my time in Utah where things are much better in most ways.
It sounds like you've experienced a significant change in life in San Diego and made a difficult decision to relocate in search of a more peaceful environment. The issues you've described, including homelessness and infrastructure decline, are unfortunately concerns in many urban areas today. Holding onto your San Diego property could be a wise move, given the potential for real estate value appreciation in the future.
I wouldn’t retire, meaning stop working. As soon as people retire they start getting sick, and deteriorating mentally. Best to work a part time and live a modest life. What a person does as a young adult will impact how you will live in the future. People throwing money on alcohol and cigarettes, partying is surely going to drain your pay fast. It’s not what you make but what you do with what you make! Live a modest clean life and you will be fine. Save money when you haves chance.
Your perspective on staying active and living modestly is insightful and practical. Balancing work with retirement can indeed support long-term well-being. How do you envision balancing part-time work with a fulfilling lifestyle in your own future?
@@StressLessFinancial Some people choose to work in retirement for a variety of reasons. Many out of necessity, and not just for the money. The Japanese concept of “ikigai” comes to mind. Ikigaki is defined by the Oxford dictionary as “a motivating force; something or someone that gives a person a sense of purpose or a reason for living.” For my late father-in-law it WAS working well into his 80s. For others, it may be something else.
I live in CA and love it. I can’t imagine retiring anywhere else. The job opportunities are limitless and as long as you work hard and don’t spend on miscellaneous items, you can afford to live here. Thank you for making this video! I’m so happy to see a professional love CA and present it so well!
Thank you for your enthusiastic support and for sharing your positive perspective on living and working in California-it's fantastic to hear how much you love it here!
You are absolutely correct, Mr Cunningham, about crowds and traffic. I literally live inside the city limits in Los Angeles and deal with traffic only when I go to my dentist in the Hollywood area, or visit my niece at USC (downtown). I’m on the edge of town, in a horse friendly neighborhood with the outdoors just steps away. Downtown Burbank and the studios are five to ten minutes away The only unwanted traffic happens twice a day when the Christian school is open; the parents and high school students have discovered a shortcut through our residential street. It can make getting out of the driveway challenging at eight or three
Great place to retire if you are very wealthy. A median house price is north of 1 million dollars meaning you will need at least $10,000 per month aside for mortgage, property tax, insurance, utilities, water and landscape care. You also need at least $6000 per month for foods, health care supplements, entertainment, transportation, travel funds, restaurants, entertainment drinks. To sum it up, one needs $16,000 per month ($192,000) per year to stay in California and this is considered Middle Class Blue Collar living.
Using your data points, the median house price in California is $786,938. (even though the median home price in Tehema County is only $355K and it's even less in Lassen County @$224K). Per month, you'll only need about $5,759 to maintain the $786K (putting 20% down). And living a lifestyle where you were spending $6K a month on food, entertainment, and travel sounds great!
You’re not a good retirement planner if you plan on having a full blown mortgage during retirement! I have no mortgage already before retirement and I love the cap on property taxes here in CA, meaning low property tax when I retire.
Thank you for giving California positive reasons why California is a wonderful place to live. I’ve lived here almost all my life 71 years and there was a while there that I was thinking negative about California, but during this last election, I say, thank God I live in California. And I even thank God even more now hearing your positive comments about why California is a wonderful place to live because sometimes seriously you don’t think of all the things that you’re telling us so thank you again.
The beauty of the Golden Gate bridge isn't in its metal arches. It's in its setting, and _that_ is Ma Nature's work, not man's. Picture the same bridge in an industrial landscape like Baltimore and you'll see what I mean.
I decided a long time ago I wasn’t going to move just to get no state income tax. It’s not worth it to me to live somewhere I won’t like as much as California, especially since our income tax is already in my budget and I’m used to it.
California native and I have no plans on moving anywhere else and now enjoying retirement. We have the mountains, the desert the beach and plenty of things to do and see. Also, my property taxes are very low compared to other states.
I’m not a native Californian but I love it here. I left once for the tropics, I didn’t like it, strange critters grow in tropical areas like alligators, big snakes, tarantulas, and lots of other creepy creatures. I appreciate CA’s wildlife which mostly stay in the mountains and national parks
I live in California for 26 years i move to Neveda last year to retired. Because California have too many crimes and homeless people everywhere. Neveda don't have state income tax when i sell my investment. Neveda don't have health insurance panelty fine when i don't buy health insurance.
The taxes in Nevada can be very advantageous. Because you are in the retirement period of your life, health insurance may prove to be necessary, and I'd like to encourage you to check out this video: ua-cam.com/video/Gh8JFjeZYyA/v-deo.html
The Health Insurance Mandate should be a reason why people SHOULD NOT be moving to these states (it's not just California,) because said "you must have this, or be taxed," type of policy, is just bad policy. If biteme (or any democrat) wins in 2024, the Health Insurance Mandate will sadly return, at the Federal Level, which means that no matter where one lives in the USA, a living human being MUST have terrible Heath Insurance, or be taxed. Nevada dodged a big danger, by not having Sisolak as governor, unlike California.
@@aerisgainsborough110 When Clinton tried to pass universal healthcare, republicans voted against it because it did not mandate you had to have coverage. When Obama passed his program, he included the coverage mandate but of course, republicans voted against it because it required everyone to have coverage.. let me ask you this; if someone does not have coverage, and needs medical care, should they get that care if they can’t afford to pay the bill??
40 year Californian here. Gotta call BS on your great health care claim. Outside of OC county, the health care system has turned to shit. Hospitals are inundated with people and most them can't afford to pay. Consequently you only get good care if you can afford to pay out of pocket, and that's if you can get an appointment.
I have a house in Silicon Valley that I would like to rent out when I retire. Given how California laws favor renters and evictions are difficult; I may just have to cash out and think of taking my plans to another state. I agree with much of lifestyle pros but cost of living (gas,groceries,dinning,insurance etc) is a retirement killer.
My father in law has rented out his properties to cover his retirement for decades here in the Bay Area. It’s really not a problem. Just talk to the renters and get to know them before renting. Find families who have ties to the community and give them a bit below market rates. They will likely stay for many years; maybe decades. Treat them well and you won’t have to worry about evictions. You are worried about rare situations.
Gas and insurance are easy to deal with. Don’t buy the fanciest gas guzzling new Audi. Instead just buy a few year old Prius. It will sip gas, insurance is dirt cheap, it’s comfortable to get into and out of, and easy to park. We recently moved a queen size bed frame in ours for our guest room! (Hatchback for the win). And there are lots of great inexpensive restaurants all around. You just have to get into the cool neighborhoods and visit where the locals eat. I feel like a lot of people who have money problems in California are just terrible with financial planning, and will likely have exactly the same problem when they move to Texas or Tennessee. We live in SF and I do not think we spend as much on the items you listed as our friends in Austin; because we know where to shop. We live well on fresh produce from the local market.
For rental, it pays if you screen your tenants. I screen my tenants myself and manage my rental properties for many years and I have no issue with tenants. For groceries, etc., it's inflation and it is not just Cali but global. For gas, I switch to EV. Insurance is ok. If u move to say Florida, you get hit with super high insurance. So big picture, I chose to stay. best place to live, and to me it's heaven on earth.
I do rentals full time in CA. You can get really good tenants in California if you provide them a nice modern updated place. I haven’t had an eviction in many years. My rentals in other cheaper states have more problems, even with more landlord friendly laws.
The assessment can go up 2%, not the taxes. My taxes went up more than 2% when my city instituted a large increase in water/sewer charges on the tax bill. If prices go down, you can appeal your assessment. I was told my mom couldn't get Medi-Cal and she made less (she died in 2022). I also think the facilities that take Medi-Cal are limited and probably not too good. Thank you for the video. You pointed out several things I didn't know. Texas 3% tax, ouch.
Thank you for your comment. This is true that your “base year” value that the “1%” is based on can only increase 2%. However, each area in California can tax property beyond the 1% if such taxes are lawfully passed. These include municipalities, counties and other districts that are not the “State of California.”
One of the benefits from Prop 13 is being able to take your property tax base with you when you move to another property after the age of 55. I have not yet taken advantage of this, but I am keeping this in mind.
❤ this. Thank you for solidifying my desire to remain in Northern CA. I'm 62 and intend to retire at 67. I am more concerned that my retirement funds will outlive me, and I will not enjoy my retirement for the 23 years I anticipate I get to enjoy it.
I've lived in California most of my life, so I already knew most of the things in your video. However, the Medi-Cal information was extremely interesting. My wife and I plan to retire in our current house in just a few years, and I thought we probably wouldn't benefit at all from Medi-Cal, since our income would be too high. But since a significant portion of our income is from 401Ks, if we take the RMDs in December, then it sounds like we potentially could benefit from Medi-Cal for the first 11 months of every year. That would be huge!
Well done! The rural California coast has roughly the same cost of living as most states as long as you bought your house decades ago and have it completely paid off. Fossil fuels (heat, electricity, gasoline, air conditioning) are less expensive in CA overall since you use way less. Cars are more economical compared to the giant pickups back east. Not much winter heat is required. No air conditioning required on the coast. No state taxes on Social Security or I-Bonds. Cars last twice as long as eastern cars. Homicide rate is lower than florida and texas. Kaiser has great healthcare. I could go on and on.
Same here. Converting our 401k’s to Roth outside of California tax free and will move back to avoid inheritance taxes and get community property state with a full step up when a spouse dies. A good place to die compared to other states.
@@PorscheSpeedster-kz6nc are you keeping your property in California or are you selling it, moving to convert to Roth, then buying another home in California when you’re ready to return?
I have California fair does not cover liability , strictly fire and for a lower value that would not cover cost of reconstruction. I just read that they have more claims than their funds can cover.
1% of $800,000 average cost for 3/2 = $8,000 increases by 1% each fiscal year. The gas $6/gal. Nuts $10 8oz. can. A chicken burrito $12. Today is 7/6/24.
Sadly, inflation is real. This is why, over time, California’s Prop 13 1% assessment (plus a 2% annual increase) becomes an increasingly valuable property right and hedge against inflation in California.
@@CunninghamLegal They are finding workarounds to Prop 13 by adding "special assessments"... I already pay on FOUR school bonds for Pajaro Valley Unified School District, and they've put a 5th one on the ballot for next week. While my BASE property taxes are indeed 1%, my tax rate is already up to 1.3% and may go higher.
@@thomasmoran168 Thank you for your comment. You correctly highlight that Prop 13 limits “factored base year” (value at time of change in ownership plus 2% increase annual) to 1%. However, local government can lawfully impose additional percentage as well as “flat” parcel taxes if passed by voters.
Up until recently, I was dead set on moving to Henderson/Summerlin, NV in 14 years at age 60.5. Then I kept reading about how bad the healthcare system was there. Now I'm thinking it's not such a great idea to move from a quality healthcare city (San Diego) to one of the worst during a time when I'll increasingly need healthcare more. So I'm thinking I'll stay.
Moved here from NY the 1st time 30 yrs ago. Fell in love w/ NCal immediately. Ive researched every destination in the world for upcoming retirement in 5 yrs. Frankly selling everything to do so does not make sense. I love it here & have lived in a number of places. I dont want to leave. Maybe closer to the coast & a bit north...
I'm a native Californian but have been considering a move to Prescott Valley or Kingman in Arizona. I can take the heat much better than cold weather! As I'm 72 currently, health care is a real concern. My medical is Kaiser Permanente and, frankly, they've been great. My out-of-pocket medical costs are ridiculously low. K-P doesn't operate in AZ., so I'd lose my medical for a time and that's a real concern. My biggest concern are the politics of CA which literally scares me. Anytime you have one-party rule you're eventually going to have issues. I'm convinced that our state legislature really hate the populace and are unconcerned with our well-being. Some of the newer laws they pass up there makes my head swim!! If the legislature's pendulum doesn't start swinging back toward the center soon, that may be the one thing that forces me to eventually get out. That may be made even more difficult as they are considering an exit-tax! Good Grief!! 😮
Kingman is a hole in the wall, Prescott Valley is much more desirable, so much to do , explore and make new friends, beautiful lakes and surrounding nature. I have property there. Kaiser is in Phoenix but maybe too far for you. Don’t sell your Ca property until you have rented for a year in AZ , this will give you time to experience the 4 seasons ( snow in winter in PV and warm summers in the 90s. Good luck 😊
Kingman is trash. Prescott is now little California. Consequently, housing is not inexpensive. Quality medical care outside the major metro areas will be difficult to locate.
Thanks for sharing your thoughts and concerns. It's understandable to weigh the pros and cons of moving, especially when health care and politics play such significant roles. While Arizona's climate might suit you, losing Kaiser and dealing with California's political climate are tough considerations. It's important to carefully evaluate what's best for your health and peace of mind.
I, too, am considering leaving because of the stupid government policies. Born and raised here. I love the weather, but Newsom and Bonta have this place, so screwed up.
Thank you. (I was) Born in Washington state in 1943; moved to California in 1969; have lived here ever since; am NOT going anywhere! I've found my place. 👍👍
Having lived in California for most of my life, I left in 2007 and finished my career elsewhere. Leaving California was a great move for me. Living there very much limited me financially. Plus, it’s easy to vacation there and get all the nice amenities he describes.
I became curious about your claim that California State colleges offer Tuition-Free classes!! I checked with Cal State Haywarrd and they said they offer NO discounts to seniors let alone FREE tuition! In fact, the Over 60 Program has been killed since the Fall of 2012! I would suggest you fact-check your slides more often than once every 2 years!
Education Code 89330 authorizes the popular Cal State system to provide free tuition for senior citizens. Each campus must grant tuition waivers to California residents aged 60 and older. Waived fees include those for tuition, applications, health services, and instructional-related activities. Seniors can enroll in regular-session, undergraduate-level courses in subjects such as art, the humanities, agriculture, and computer studies. Here's the legal code: leginfo.legislature.ca.gov/faces/codes_displayText.xhtml?lawCode=EDC&division=8.&title=3.&part=55.&chapter=3.&article=4 (and here's the link to the information on CalState.edu: www.calstate.edu/attend/paying-for-college/csu-costs/tuition-and-fees/fee-waivers/Pages/other-fee-waivers.aspx)
I'm a native Californian and retired. I can't afford to rent a home, let alone a studio apartment. I can barely afford food and have to go to the food bank on a regular basis. The cost of living even in rural areas is horrendous. Come to California if your retired and single your gross income needs to he at least $113,652 annually in order to live your best life.
SF Bay area native here and I agree, $113K is needed if you are single and don't want to watch every penny. I make $82K but can only afford basic needs. My entertainment is limited to walking and enjoying the beautiful neighborhood, public library, and volunteer work. I can't accept casual lunch dates with friends, happy hours, dinners, concerts, movies, weekend wine tasting or plays like I use too. $113K is needed for that.
I completely understand if you are happy and have a love for the Bay area (or a love for nearby family), but it might be worth looking into other nearby California counties! California is MASSIVE, even larger than some European counties. Here is a list of some of the most affordable counties in CA: www.kiplinger.com/taxes/cheapest-places-to-live-in-california
Before you slam other states about SS taxation look at those states and their property tax rate and a possible 45-50% tax basis reduction when you reach a certain age. Utah/Arizona property tax rate is approximately .5% and utah has a primary residential exemption of 45% off the assessed value.
Thank you for your insightful comment. How much an individual pays in taxes has many, many variables including taxation of SS income as well as property taxation. It should be noted that property taxation is highly localized. It is based not only on the state, and county, but city / municipality as well as other tax and service districts that may be in only part of a county or city.
they told US that we didn't need to make English the official language by legislation because that was crazy to believe any other language would be used - THEY LIED over 100 languages is a reason CA has one of the worst public school systems in the country
I think our school system is great. My daughter attended CA public schools and just graduated. She was able to learn Japanese throughout grade school and could speak and read when we visited Japan. She attended an arts high school, again public, which enriched her creative side with theater, costuming, and music education. Now she thrifts clothes and sews amazing outfits. But she also was able to take AP classes in Calculus, History, Environmental Science, etc. She got into a great college. And none of her schools banned books or limited her access to our great libraries. Our diversity is our advantage! Being multi-lingual (English + another language) has been proven to improve cognitive skills. That’s how it is in California. We are preparing our kids to be leaders and thrive in a world of 8 billion diverse people.
What are you smoking? just because flyers from the state come in 120 different languages doesn't mean they teach anything but English in the public school system. I have two children going through the public school system, including College. Please step away from those who are ill advising you.
I love visiting California. I really enjoy the redwood forest; wine country; Hwy 1; west coat and the sunset. It has the great ethnic food. The main thing that keeps me from staying is the traffic and high cost of housing.
California truly is beautiful, and the culture is unmatched. Traffic and housing prices can be burdensome, but it really depends on where in California you live for those things. It is a VERY large state!
retire here but you’ll probably be visiting your children and grandchildren living out of state. Almost impossible for them to afford cost of living in California these days. State tax and property taxes alone are crippling for them.
This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
Coastal California is expensive but not inland California. Furthermore California doesn't tax SSA and property taxes are low. Income tax is progressive so if you are making less in retirement you are not paying much taxes to the state. Healthcare is top notch and if you are low income subsidized.
I’m a native Californian and proud of it. I take exception about boasting of California’s agriculture. It is widely known that we have a water problem in the state, this is not due to lack of water, it is due to use of water. Eighty percent of California’s water goes to agriculture, yet agriculture accounts for less than 3 percent of California’s GDP. The number one crop that our water grows is alfalfa, which goes to feed cows. It’s estimated that if no alfalfa were grown in California, there would be enough water saved for 3/4 of the state’s human population. You might say that California does not have a water problem, it has a cow problem. I doubt that riparian rights will be resolved anytime soon, but rather, because of advances in precision fermentation, the dairy industry in California will soon wither away. I personally don’t buy California milk , you can get milk from Arkansas through places like Walmart for half the price of California milk.
That's a really interesting perspective! Thanks for commenting. California is certainly known for it's water problem. California is a leading agricultural state in the United States, producing over 13% of the nation's agricultural production value. Over a third of the country's vegetables and over three-quarters of the country's fruits and nuts are grown in California.
Thanks for the reply. Don’t get me wrong, I’m not advocating the demise of all agriculture in California, we are world renowned for many crops like wine grapes, almonds and certain vegetables but the country is hardly dependent upon the state’s production of much of our agriculture, after all , the Mississippi Valley is the largest area of agricultural land in the world. Onions, tomatoes, corn and much more has got California beat hands down when it comes to taste, I also laugh when I sit down in a restaurant in California and see steak brought in from Idaho.
I would like to know what is available for those of us wanting to retire early in terms of medical plans. COBRA is very expensive and caps at 18 months.
Retiring early? Let’s talk health insurance options-because COBRA is not only expensive but also taps out after 18 months. Here’s the deal: Affordable Care Act (ACA) marketplace plans can be a lifesaver, especially if you can keep your income low and qualify for subsidies. Medi-Cal is also an option if you are low income. Medicaid could be an option if you can drop your income low enough, or check to see if your old employer offers retiree health benefits. For short-term gaps, there are temporary insurance plans, but they’re limited to major medical events. Private insurance is another route, though it tends to be pricier without those subsidies. Some people opt for healthcare sharing ministries-not technically insurance, but often more affordable if you’re healthy. If you’re not entirely ready to quit working, a part-time gig at a company like Starbucks or Costco could get you benefits. Married? Don’t forget about hopping onto your spouse’s employer plan. Got an HSA? Pair it with a high-deductible plan and use those tax-free dollars for medical costs. Feeling adventurous? Some retirees even move abroad to take advantage of affordable healthcare in other countries. Smart planning-especially with a financial advisor-can help you navigate this and keep your retirement dreams on track.
The first thing I would consider to retire in any State, I make sure we are close to Va Hospital and grocery stores and shopping malls and military base and we have them all right now so I was thinking hard that my no 1, State to retire is California for now and the diversity of foods, restaurants, people and weather is excellent!
I have been in CA for about 35 years and love it. I am now retired and have looked at retiring out of CA but I think what I have seen here the best place to stay is here in N. California. My only complaint is the Newsom and the CPUC (in criminals in bed with the power company's) that are constantly attacking the cit of CA with increased costs in one way or another, oh I for got organized crime by the name of PG&E. Great video.
Thanks for sharing your thoughts! It's great to hear that you've enjoyed living in Northern California for so long and find it a fantastic place to retire. While the cost increases and issues with the CPUC and PG&E are frustrating, it sounds like you believe the overall lifestyle and environment make it worth staying.
Interesting that some arguing for California for retirement. Looks like cost of living is the biggest risk but if you can bear that, the weather, food, and everything else seem pretty good
You’re right! Retiring in California is a no-brainer if you bought your house decades ago because Prop 13 keeps your property taxes low (1% of the purchase value with limited annual increases). Plus, you get to enjoy the state's great weather, diverse culture, and graduated tax system.
I agree that the Sacramento area is a popular location to retire. I visited my brother in Oklahoma a few years ago and the fresh fruit and vegetables were not as abundant as they are in the Sacramento area. Me and my wife are fortunate to have very good state pensions with health benefits and can afford to remain in California.
Shhh, don’t tell anyone, pls keep as many people out as possible. Weather, diversity, jobs, Yosemite, Tahoe, Napa Valley, Carmel, San Diego, education, culture, music, natural beauty, food supply, healthcare, freedom to be who you are… so many reasons to live here. I’ll never live anywhere else!
While Cali is a beautiful place, it's very hard to move from a life time of living in a low cost area, like Ohio, to a high cost retirement destination like California. Maybe I could live in the onion fields of Oxnard?
Here's a list of 11 affordable places to live in California, according to California.com: www.california.com/most-affordable-places-live-california/ 1. Clearlake 2. Bakersfield 3. Fresno 4. Eureka 5. Stockton 6. Clovis 7. Sacramento 8. Chico 10. Visalia 11. San Jacinto
Low humidity is a biggie for me. Having been born & raised in the southeast, I've lived in the Bay Area for 50 years significantly for this reason. Having to shower 3 times a day is no fun.
As hard as it is to admit, I agree, in general, with your analysis. A caveat Re property taxes. Although 13 is a lifesaver, local bond issuance is adding up quickly. The bond interest and principal is paid for by taxes on RE. In our neck of the woods these payments are approaching 10% of our prop tax bill and growing each election cycle. Our tax dollars are poorly allocated with poor results in many areas including homelessness, unemployment insurance, public schools to name a few. Admittedly not big issues for retirees in the state but a concern for the future. Having said this, the physical reality for us is family and extremely advantageous Mort rate...and some of the best sailing in the World 😂
Thanks for sharing your perspective! It's true that while Prop 13 helps keep property taxes low, local bond measures can add to the tax burden over time. Despite challenges like tax allocation and public spending, it sounds like the combination of family ties, a great mortgage rate, and amazing sailing keeps California appealing for you. You have a great name, by the way.
Fantastic video. I had no idea about these post retirement intricacies. Are there any other states that meet three of these conditions: Prop 13 like system or close, no tax on SS, a system similar to Medi-cal. What about FL?
Thank you for your comment @ajaydawar. Other states do have property tax protections akin to Prop 13 (not increasing taxes for seniors willy-nilly), many states don’t tax social security but Colorado, Connecticut, Kansas, Minnesota, Montana, New Mexico, Rhode Island, Utah and Vermont do. California’s Medi-Cal (Medicaid) system is THE MOST GENEROUS in the USA.
Sounds like you consume GOP favored media which shows CA homeless/crime videos on a loop. Attempt is to get CA residents to vote GOP, the downside is it gets GOP voters to move out to retire. Without knowing all the things Jim just covered.
Social security benefits are not taxable by the State of California. www.cunninghamlegal.com/california-retirement-taxes/ State's website: www.taxes.ca.gov/Income_Tax/specialind.html#:~:text=Social%20security%20benefits%20are%20not,on%20the%2Djob%2Dinjury.
Typically, estates with over $1M+ in Net Worth (all assets including retirement accounts, investments, real estate, etc.) see the most benefit from the tax planning that we are able to do with estate planning strategies. But avoiding probate is one of the key factors for creating an estate plan!
Native Californian and newly retired. I love living in California and would never move to another state. My biggest problem with California is that there are too many people here so the traffic can be terrible. So when I hear people are leaving California, I am willing to help them pack their bags.
As a fellow Californian, I understand the frustration with the traffic, which can indeed be daunting at times. However, the state's incredible diversity and natural beauty make it a worthwhile place to call home, even if it means dealing with a few extra cars on the road.
@@CunninghamLegalgotta find a place and job where the commute isn’t bad but as a retiree why drive during rush hour? Ya don’t. Ya walk. Very healthy
@@CunninghamLegal I am staying in California for the same reasons.
@@marclandrum4933 Yes I do plan my day around rush hour. But the rush hour is getting longer and traffic can get crazy on weekends too where I live. And I can't walk to the coast. Don't get me wrong I will never leave California.
💯 Born and raised in the Bay Area and think exactly the same thing. Go, please!!
Very nice video. It’s nice to see a video talking about the beauty of California instead of all those dreadful, hateful videos.
Thank you very much for watching!
CA is awesome.
I’ve lived my whole life here.
I retired when I was 55 And I’m just your average Joe.
I’m 65 now.
I live just outside the Tahoe Forest.
I snowboard, snowshoe, hike, bike camp and ride motocross.
Yes CA has a sales tax, but I’m retired, so I already own mostly everything I’ll ever need to buy and the property taxes is only 1%
If you want to leave CA great! But don’t think there’s a better place to live anywhere in the world.
That's great to hear, and Tahoe is beautiful! Thank you for sharing.
I live in the Midwest and have wanted to live in CA practically my entire life. You’re making me envious.
I lived in California for 40 years and I am retiring in CA. I have worked very hard to buy two income properties that will replace my current income when I retire at 62 in two more years, life is great. Work hard when you have plenty of youth and enjoy life when you don't have it anymore.
Ha ha. Good luck with the Leftist Rental laws.
Congratulations on choosing a retirement date! Thanks for sharing that it is possible.
I have accumulated a lot of rentals here in CA and the governments tenant friendly laws help me to collect huge rents because nobody wants to be a landlord here with these laws. That means little competition = high rents.
Your old it worked out, two young adults struggle in California while working..🧐🤔🤨
@@Justaguywithtruth actually it didn't work out, she got the house.
I had to start over.
I got the better deal.
Thoroughly enjoyed the video. Native Californian nearing retirement. Thanks for getting to the real info versus the "move to a low cost state" mantra.
Glad you enjoyed it! There's a lot more to consider when it comes to where you live other than how much it costs.
I think what you're saying is- California is a good place to retire IF you already live here and own property in an area where property values have gone up and are valuable. I grew up in San Gabriel Valley. I couldn't afford to live there now without selling my current property. I now live in a valuable area of San Bernardino County where home prices (07/24) are higher than I would pay, but many rural areas in California are affordable still today, especially when you price in, as Cunninghamlegal has pointed out, the climate and AMAZING natural beauty California has. To me, it is pretty priceless. I've never lived anywhere else so I'm not one to compare, but waking up to the sun, beautiful mountains, weather that calls you outside, beaches, rivers...
How much is that worth? I'm blessed where I am, not letting our crappy politics kick me out, and have no plans on leaving.
California is a great place to live! I'm happy you're here to stay.
Jim, thank you for this video. I am born and raised in the San Francisco Bay Area for 65 years then I retired and moved to Southern California for the last 6 years. I now live in Carlsbad, CA. I LOVE CALIFORNIA!! I love California for all the reasons that you mentioned but my favorite reason is the diversity. I’m Filipino. I love having a large Filipino population. It wasn’t like that when I was growing up but since 1972 the Filipino people has blossomed. In addition the many ethnic groups in California provide food and culture that provide much diversity. Again, thank you Jim.
Hey, thanks for leaving a comment! I love California and it's diversity too.
California native, 55 years thanks for the positive message.
I still appreciate the weather & the beauty.
I don’t know much but when I do, I’m definitely not retiring to New Jersey. ~ most interesting man in the world.
Well said! Thank you for the kind words, and it sounds like you're enjoying California's natural beauty-here's to many more years of sunshine and stunning views!
I love this post, thank you! I’m a realtor here in the Bay Area & Santa Cruz coast and sellers who left but they are missing it. I moved to WA state and boy, so glad to have come back! Love the coast and the diversity and The Food! People here in the Bay Area are smart and I think we take it for granted. 😅 Lots of seniors enjoying the coast are loving their quality of lifestyle and our healthcare. Also I take for granted how optimistic we are (work and life) we also have a healthy mental attitude. We also have nice senior communities, affordable! Ask me, I’ve helped others and a great lifestyle, it’s doable.
Thanks for sharing!
I'm a lucky one. Live in Northern Calif. Decided decades ago after divorce to live way, way below my means and save and invest. The small city I live in is more affordable rent-wise and safe. Retired 4 years ago and living a level of freedom that can't be articulated, it has to be lived to be fully understood and appreciated. I answer to NOONE. No boss, no wife, no girlfriend. People ask how I've achieved my financial stability, and I reply, "I never re-married." Smiles!
Which city please
Thanks for sharing!
We all answer to someone. Just ask Bob Dylan.
Who's NOONE?
What's his first name?
😂
💯 the state as far as the landscape, the weather especially if you live within a mile or so of the coast is definitely in the top of the list of locations that are most comfortable to live in.
Unfortunately the politics, the crime, the homelessness, the lack of law enforcement and exorbitantly high taxes in most categories have tarnished our once great state.
If your net worth is 50 million and higher, you can live fairly insulated and disconnected like many of the politicians that like to preach about how everything is still “great“ in California
Enjoyed listening to why California is a great place to live and better to retire in. We love it here!!!!!
That's great! Thanks for sharing.
I keep singing that song 'California Dreamin'...but on a summer's day! Getting 60 days+ of 110, and 120 days+ of 100, the Phoenix Valley is becoming unlivable. I have about 4 years left, and a San Diego retirement is only a 5 hour ride west on Interstate 8 - a fairly easy physical move.
Retirement in San Diego sounds incredible!
Retirement in Canada, it can be pricey, but there are definitely affordable areas outside the big cities. Plus, no state tax on Social Security!
True, that's a big perk. And the weather is unbeatable. Hiking, surfing, wine country...California has it all!
Don't forget the earthquakes! Nature's a double-edged sword there.
Earthquakes are a risk, but honestly, the fire season here in Arizona is getting out of control too. At least California has beaches to cool off at!
True! And California is very geographically diverse, so it really depends on where you're living. In some areas, earthquakes are a non-issue!
At present Canada is basically communist thanks to that French bozo recking the country
Good eye opener for ca residents to stay for a long haul !
Thanks for sharing !
You bet. Thanks for watching!
Retired early in California, over 5 years now. Still thinking sometimes about going elsewhere. Like Phoenix, but friend said it was 119 F yesterday...I'm wimped out by our great weather.
119! Not good if there is a blackout.
Don't come to Phoenix. We don't need Californians here.
I live in California and Arizona. The heat in Arizona will only get worse. Arizona used to have inexpensive housing - not anymore.
California's weather is definitely hard to beat, especially when you hear about those scorching temperatures.
Went to Phoenix AZ several times for my son's baseball tournaments. It's miserable. 100 deg even at midnight. Day time 110 + sun rays blacked out my phone a few times.
No AC, you are done.
In california, not even near the coastal, when 100+ deg hot days, under shade, it's 85 to 90 degrees and night rarely over 75 degrees. It is getting more humidity however.
Very informative and educational video. There are so many people from other states that only look at the negative aspects of the state and not the many positive ones. Thanks for showcasing those positive aspects here. Moved to CA from the east coast 16 years ago and will live here for the rest of my life.
Glad it was helpful!
I retired in Crescent City, CA from the military at age 38. I teach for a college in Oregon. I really love the beauty of this area but feel like an idiot for retiring here every time I do my income taxes, pay for my car registration, or have to deal with the tax assessor trying to reassess every time a contractor pulls a permit for something. And don’t get me started on the politics. I was a WA resident before I retired and got accustomed to no state income taxes and $200 car registrations (which are now $700). I frequently consider relocating, but haven’t been able to give up the natural beauty and great coastal climate yet. This video helped me feel less like a financial idiot for staying here, but I’m still interested in alternatives!
From my experience, California is really hard to beat! Oregon has an aggressive estate tax (10-16%) for any assets over $1 Million, so that is definitely something worth considering.
We're in the same boat: we let CA rip us off just because the state has great weather & natural beauty, which the horrible government has nothing to do with.
I live in SF 165k/yr with 3 cats they’re my children $500+ for cat food and pet insurance and the rest go to bills rent food 10% for giving to others, fresh produce is a plus and great weather, minimalist lifestyle, its still paycheck to paycheck. I visited Oregon, Texas, NM I still came back to CA it’s so beautiful and the spiritual energy is amazing!
Thanks for sharing!
A note about Medi-Cal: I was on it for a few years before I turned 65. Medi-Cal includes fully-paid dental and was some of the best healthcare I ever had.
It's great to hear that you had a positive experience with Medi-Cal, especially with the inclusion of fully-paid dental care.
Not true! I work in healthcare. Medical is not good! Hardly any doctor or dentist wants to take it. It’s that stinky!
Thx! Did not know about CSU tuition waiver!
Thanks for watching! Here's some more details" www.kiplinger.com/slideshow/retirement/t065-s001-free-or-cheap-college-for-retirees-in-all-50-state/index.html#:~:text=California,for%20all%20state%2Dsupported%20colleges.
You can’t get a degree with it. Only credits?
Thanks for this video. I am a retired teacher living in California. I am rethinking my plan to leave California.
You're welcome. Thanks for having an open mind!
I spent most of my adult life in CA but lived in TX, CO, VA, MA for work and traveled throughout the US. I decided to come back and stay in CA years ago and did not even realize a lot of these tax and financial benefits. Thank you Cunningham Legal for making me feel real good about my decision.
It’s great to hear that you’re feeling positive about your decision to return to California and that the financial benefits are a pleasant surprise! How have these benefits influenced your plans or goals for your retirement?
@@StressLessFinancial more reason for me to stay in Cali!
It's wonderful to hear that you've found your way back to California and are feeling positive about your decision!
I live in California. I'm retired and planning my move from this politically fucked up state!!
@@joelperez4455 Excellent choice! Could you do me a favor and take more people with you? That should reduce traffic for the rest of us.
Fantastic and comprehensive info! Thank you!
And, medical care is not the greatest. In my area, San Jose my friends have trouble finding good doctors who can see them within 40 days.
And please consider that ‘Lazy Acres’, when needed will be low quality care. One should consider staying at home with support as long as possible. Don’t consider Lazy Acres as a fail safe when you get older. Please go look at a care facility or at least read the reviews.
California may not have the fastest healthcare system, but it's the place that big specialists call home: Stanford, Cedars-Sinai, UCLA Medical, UC San Diego Health, UCSF Health, UC Davis, etc. Long-Term care is another important factor, and it is very important to do your research.
I moved to Southern California in 1972 from Pennsylvania !!! I have never regretted it !! I love the weather and certainly don’t miss the snow !!! Yes we have our problems here but I still believe that we live in the most beautiful part of the country !!! So nice to finally see a video that boasts of our good points instead of our bad ones !!!
Yes! Thanks for sharing.
Great video. I'm a 4th generation Californian who married another 4th generation Californian. He joined the Army and we lived out of state for 33 years. Due to smart money management and hard work most of our adult lives, we were fortunate to be able to move back and buy a home on the coast in 2019, and we love being back. I didn't realize how much I missed California and its diversity. I lived in Texas for 19 of the 33 years away, and while I loved it, I love California more. Texas is hot as hell about 7-9 months out of 12, not to mention hurricanes, tornadoes, hail & lightening storms, flooding, droughts - and that's just the climate! Don't get me started on the bugs, especially the mosquitos, roaches, and spiders. Texas has high property taxes and home & auto insurance too! I also lived in Tennessee for 5 years. Liked it sure, but I like California better! People who move away work hard to convince themselves that they don't miss California, but they are fooling themselves. My husband and I will be definitely be retiring here!
I'm happy to hear that. Thanks for sharing!
Newsom needs to be kicked out of California and this state will be the best State in America
@@lilibethbreault5511 I didn’t use to care for Newsome, but I’ll tell you one thing. I’m sure glad he’s got balls to stand up to that prick president that we are now gonna have. Thank you God for that.
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 55, 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.
More reason I enjoy my day to day market decisions is that i'm being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to.
You’ve highlighted some critical challenges that many face in retirement planning. It’s crucial to address these issues proactively. What strategies or solutions do you think could help middle-class Americans better prepare for a secure retirement despite these hurdles?
SCAM ALERT!
People can forget about this law office. They have the worst assistants who messed up and had no clue. A publication by the same attorney has so many mistakes in Estate planning.. And this was pointed out by experts.
Great video. For all the hardships of subsisting on SSDI, it's worth it to me because of the Medi-Medi care, full variety of healthcare services available for my chronic psych and physical needs. I grew up and have lived here most of my life, so I'm accustomed to the natural beauty, diversity of people and their cultural contributions, diverse cuisine options and fresh foods galore, the social commitment to and respect for education, and a friends network I would be loath to abandon, even while many of my dearest have moved elsewhere to raise families and nearly all my family in the region died off.
Healthcare is incredibly important! Thank you for leaving a comment with your favorite things about California.
20 years ago we moved to San Diego and it was heaven. Low crime, clean, good roads, good police protection.
We recently bought a home in Utah because we have homeless living in front of our Condo building (million dollar plus per condo) and the police will do nothing. We even hired a private guard service to help and they were worthless. Crazy people wander the streets downtown that were formerly virtually crime free. The city roads are full of holes and the city claims they are out of money. We recently had a double murder out front.
The Gas Lamp District was so much fun in the past but now has boarded up stores and clubs with homeless insane drug addicts and criminals living the good life while we suffer.
I will keep my San Diego property for now (surprisingly the values continue to go up) for now and spend most of my time in Utah where things are much better in most ways.
It sounds like you've experienced a significant change in life in San Diego and made a difficult decision to relocate in search of a more peaceful environment. The issues you've described, including homelessness and infrastructure decline, are unfortunately concerns in many urban areas today. Holding onto your San Diego property could be a wise move, given the potential for real estate value appreciation in the future.
I wouldn’t retire, meaning stop working. As soon as people retire they start getting sick, and deteriorating mentally. Best to work a part time and live a modest life. What a person does as a young adult will impact how you will live in the future. People throwing money on alcohol and cigarettes, partying is surely going to drain your pay fast. It’s not what you make but what you do with what you make! Live a modest clean life and you will be fine. Save money when you haves chance.
That's a very unique perspective!
100% correct. Agree with you.
Your perspective on staying active and living modestly is insightful and practical. Balancing work with retirement can indeed support long-term well-being. How do you envision balancing part-time work with a fulfilling lifestyle in your own future?
@@StressLessFinancial Some people choose to work in retirement for a variety of reasons. Many out of necessity, and not just for the money. The Japanese concept of “ikigai” comes to mind. Ikigaki is defined by the Oxford dictionary as “a motivating force; something or someone that gives a person a sense of purpose or a reason for living.” For my late father-in-law it WAS working well into his 80s. For others, it may be something else.
I’m never leaving California
Happy to hear!
I live in CA and love it. I can’t imagine retiring anywhere else. The job opportunities are limitless and as long as you work hard and don’t spend on miscellaneous items, you can afford to live here. Thank you for making this video! I’m so happy to see a professional love CA and present it so well!
Thank you for your enthusiastic support and for sharing your positive perspective on living and working in California-it's fantastic to hear how much you love it here!
You are absolutely correct, Mr Cunningham, about crowds and traffic. I literally live inside the city limits in Los Angeles and deal with traffic only when I go to my dentist in the Hollywood area, or visit my niece at USC (downtown).
I’m on the edge of town, in a horse friendly neighborhood with the outdoors just steps away. Downtown Burbank and the studios are five to ten minutes away
The only unwanted traffic happens twice a day when the Christian school is open; the parents and high school students have discovered a shortcut through our residential street. It can make getting out of the driveway challenging at eight or three
That's wonderful! It sounds like you found a great place to live. Thanks for sharing!
Great place to retire if you are very wealthy. A median house price is north of 1 million dollars meaning you will need at least $10,000 per month aside for mortgage, property tax, insurance, utilities, water and landscape care. You also need at least $6000 per month for foods, health care supplements, entertainment, transportation, travel funds, restaurants, entertainment drinks.
To sum it up, one needs $16,000 per month ($192,000) per year to stay in California and this is considered Middle Class Blue Collar living.
Using your data points, the median house price in California is $786,938. (even though the median home price in Tehema County is only $355K and it's even less in Lassen County @$224K). Per month, you'll only need about $5,759 to maintain the $786K (putting 20% down). And living a lifestyle where you were spending $6K a month on food, entertainment, and travel sounds great!
If you can make it in California. Don't leave because when you want to come back, you'll be priced out.
I live on a lot less than that in CA. I live well on around $4 to 5,000 a month. My house is paid for.
You’re not a good retirement planner if you plan on having a full blown mortgage during retirement! I have no mortgage already before retirement and I love the cap on property taxes here in CA, meaning low property tax when I retire.
What? You don't need $16k per month to live in CA.
Thank you for giving California positive reasons why California is a wonderful place to live. I’ve lived here almost all my life 71 years and there was a while there that I was thinking negative about California, but during this last election, I say, thank God I live in California. And I even thank God even more now hearing your positive comments about why California is a wonderful place to live because sometimes seriously you don’t think of all the things that you’re telling us so thank you again.
Just fyi Jim, the Golden Gate bridge isn't "natural" beauty. Men built it. It's "man made".
Yes, you're right. It's still beautiful, though!
Oakland education system teaches it's Man-Made💩📕🤡🧐🤣😂
The beauty of the Golden Gate bridge isn't in its metal arches. It's in its setting, and _that_ is Ma Nature's work, not man's.
Picture the same bridge in an industrial landscape like Baltimore and you'll see what I mean.
I decided a long time ago I wasn’t going to move just to get no state income tax. It’s not worth it to me to live somewhere I won’t like as much as California, especially since our income tax is already in my budget and I’m used to it.
Good for you! I'm happy you found a way to make CA work.
California native and I have no plans on moving anywhere else and now enjoying retirement. We have the mountains, the desert the beach and plenty of things to do and see. Also, my property taxes are very low compared to other states.
That's great. It sounds like you planned well. Happy retirement!!
I’m not a native Californian but I love it here. I left once for the tropics, I didn’t like it, strange critters grow in tropical areas like alligators, big snakes, tarantulas, and lots of other creepy creatures. I appreciate CA’s wildlife which mostly stay in the mountains and national parks
Interesting! Thanks for sharing your perspective on the wildlife. We'll have to include that in the next video!
I live in California for 26 years i move to Neveda last year to retired. Because California have too many crimes and homeless people everywhere. Neveda don't have state income tax when i sell my investment. Neveda don't have health insurance panelty fine when i don't buy health insurance.
The taxes in Nevada can be very advantageous. Because you are in the retirement period of your life, health insurance may prove to be necessary, and I'd like to encourage you to check out this video: ua-cam.com/video/Gh8JFjeZYyA/v-deo.html
The Health Insurance Mandate should be a reason why people SHOULD NOT be moving to these states (it's not just California,) because said "you must have this, or be taxed," type of policy, is just bad policy. If biteme (or any democrat) wins in 2024, the Health Insurance Mandate will sadly return, at the Federal Level, which means that no matter where one lives in the USA, a living human being MUST have terrible Heath Insurance, or be taxed. Nevada dodged a big danger, by not having Sisolak as governor, unlike California.
Nevada also don't have much other than desert...
@@aerisgainsborough110
When Clinton tried to pass universal healthcare, republicans voted against it because it did not mandate you had to have coverage. When Obama passed his program, he included the coverage mandate but of course, republicans voted against it because it required everyone to have coverage.. let me ask you this; if someone does not have coverage, and needs medical care, should they get that care if they can’t afford to pay the bill??
I’m heading close to retiring, this was a lot of good information that I didn’t know as a resident of California. LA county. 😊
Glad it was helpful! Good luck, and we wish you a happy retirement! 😊
Glad I discovered you. Learned a number of important things. Thanks. Subscribed. SoCalFreddy
Awesome, thank you!
Thank you for this information! It makes me proud to be a Native Californian ✌🏻
Me too!
🤖🎪🧐🤔🤨😂👍
I took my CALPERS pension and moved to Thailand!
That sounds like an interesting strategy! Thanks for sharing.
Good for you
I’m also retiring with CALPERS and moving out of California and oversea!
Here's a smart move.
I'm planning to move to Cambodia when I'm retired
yeah!
We’re planning to retire in CA! Loved living there when we were younger and always planned to go back.
That's great to hear! Thanks for leaving a comment.
40 year Californian here. Gotta call BS on your great health care claim. Outside of OC county, the health care system has turned to shit. Hospitals are inundated with people and most them can't afford to pay. Consequently you only get good care if you can afford to pay out of pocket, and that's if you can get an appointment.
UCSD Medical Center and Stanford University Medical Center are some of the best in the country.
Like I said if you can afford it...
The rest of us have to fight for scraps.
You’re right, for this and other reasons I’m leaving California in 2025.
Loma Linda & Temecula Valley, come inland excellent health care 😊
@@niecek.6473agreed. Temecula/Murrieta has great healthcare system.
I have a house in Silicon Valley that I would like to rent out when I retire. Given how California laws favor renters and evictions are difficult; I may just have to cash out and think of taking my plans to another state. I agree with much of lifestyle pros but cost of living (gas,groceries,dinning,insurance etc) is a retirement killer.
My father in law has rented out his properties to cover his retirement for decades here in the Bay Area. It’s really not a problem. Just talk to the renters and get to know them before renting. Find families who have ties to the community and give them a bit below market rates. They will likely stay for many years; maybe decades. Treat them well and you won’t have to worry about evictions. You are worried about rare situations.
Gas and insurance are easy to deal with. Don’t buy the fanciest gas guzzling new Audi. Instead just buy a few year old Prius. It will sip gas, insurance is dirt cheap, it’s comfortable to get into and out of, and easy to park. We recently moved a queen size bed frame in ours for our guest room! (Hatchback for the win). And there are lots of great inexpensive restaurants all around. You just have to get into the cool neighborhoods and visit where the locals eat. I feel like a lot of people who have money problems in California are just terrible with financial planning, and will likely have exactly the same problem when they move to Texas or Tennessee. We live in SF and I do not think we spend as much on the items you listed as our friends in Austin; because we know where to shop. We live well on fresh produce from the local market.
For rental, it pays if you screen your tenants. I screen my tenants myself and manage my rental properties for many years and I have no issue with tenants. For groceries, etc., it's inflation and it is not just Cali but global. For gas, I switch to EV. Insurance is ok. If u move to say Florida, you get hit with super high insurance. So big picture, I chose to stay. best place to live, and to me it's heaven on earth.
I do rentals full time in CA. You can get really good tenants in California if you provide them a nice modern updated place. I haven’t had an eviction in many years. My rentals in other cheaper states have more problems, even with more landlord friendly laws.
Squatters rights, sell it and move to a Real State🧐🤔🤨👍
The assessment can go up 2%, not the taxes. My taxes went up more than 2% when my city instituted a large increase in water/sewer charges on the tax bill. If prices go down, you can appeal your assessment.
I was told my mom couldn't get Medi-Cal and she made less (she died in 2022). I also think the facilities that take Medi-Cal are limited and probably not too good.
Thank you for the video. You pointed out several things I didn't know. Texas 3% tax, ouch.
Thank you for your comment. This is true that your “base year” value that the “1%” is based on can only increase 2%. However, each area in California can tax property beyond the 1% if such taxes are lawfully passed. These include municipalities, counties and other districts that are not the “State of California.”
@@CunninghamLegaland all the bonds added to property taxes, way more than 2%
I'd rather be poor and live close to my grandkids in California than be rich anywhere else.
Absolutely!
And that legit reason is why seniors are moving here. Unless it is the "takers" to take advantage of the $ giveaways.
Same here. Family is important as one ages.
That's right Cynthia, because the grandkids are the true riches... The gifts that keep giving.
One of the benefits from Prop 13 is being able to take your property tax base with you when you move to another property after the age of 55. I have not yet taken advantage of this, but I am keeping this in mind.
That's great!
❤ this. Thank you for solidifying my desire to remain in Northern CA. I'm 62 and intend to retire at 67. I am more concerned that my retirement funds will outlive me, and I will not enjoy my retirement for the 23 years I anticipate I get to enjoy it.
You can do it!
This was excellent, thank you.
Glad you enjoyed it!
I've lived in California most of my life, so I already knew most of the things in your video. However, the Medi-Cal information was extremely interesting. My wife and I plan to retire in our current house in just a few years, and I thought we probably wouldn't benefit at all from Medi-Cal, since our income would be too high. But since a significant portion of our income is from 401Ks, if we take the RMDs in December, then it sounds like we potentially could benefit from Medi-Cal for the first 11 months of every year. That would be huge!
This is a rather new development in California and should benefit many people.
Beautiful place to live, but it’s damn expensive. BUT I do love the diversity of people and the beach and the mountains and the WEATHER!!
Agreed!
Well done! The rural California coast has roughly the same cost of living as most states as long as you bought your house decades ago and have it completely paid off. Fossil fuels (heat, electricity, gasoline, air conditioning) are less expensive in CA overall since you use way less. Cars are more economical compared to the giant pickups back east. Not much winter heat is required. No air conditioning required on the coast. No state taxes on Social Security or I-Bonds. Cars last twice as long as eastern cars. Homicide rate is lower than florida and texas. Kaiser has great healthcare. I could go on and on.
Interesting points about the use of fossil fuels and cars. I'll have to include that in a future webinar. Thanks for sharing!
I love Northern California for over 40 years! 🇺🇸❤
That's wonderful. Thanks for sharing!
That's not California up there, that's Reality with Conservative Good People, Should be separate😎👍
Born in California and retiring in California.
Same here. Converting our 401k’s to Roth outside of California tax free and will move back to avoid inheritance taxes and get community property state with a full step up when a spouse dies. A good place to die compared to other states.
Me too.
Blah Ha Ha Ha
enjoy paying for all the illegals!
@@PorscheSpeedster-kz6nc are you keeping your property in California or are you selling it, moving to convert to Roth, then buying another home in California when you’re ready to return?
Fire insurance is very expensive in foothills and mountains and becoming not available .
That's true- fire insurance can be a problem in the more rural areas. That's why California introduced California Fair Plan: www.cfpnet.com/
I have California fair does not cover liability , strictly fire and for a lower value that would not cover cost of reconstruction. I just read that they have more claims than their funds can cover.
Yea this guy is on crack.
1% of $800,000 average cost for 3/2 = $8,000 increases by 1% each fiscal year. The gas $6/gal. Nuts $10 8oz. can. A chicken burrito $12. Today is 7/6/24.
Sadly, inflation is real. This is why, over time, California’s Prop 13 1% assessment (plus a 2% annual increase) becomes an increasingly valuable property right and hedge against inflation in California.
@@CunninghamLegal They are finding workarounds to Prop 13 by adding "special assessments"... I already pay on FOUR school bonds for Pajaro Valley Unified School District, and they've put a 5th one on the ballot for next week. While my BASE property taxes are indeed 1%, my tax rate is already up to 1.3% and may go higher.
@@thomasmoran168 Thank you for your comment. You correctly highlight that Prop 13 limits “factored base year” (value at time of change in ownership plus 2% increase annual) to 1%. However, local government can lawfully impose additional percentage as well as “flat” parcel taxes if passed by voters.
So appreciated for your information 🙏
Thank you!
Up until recently, I was dead set on moving to Henderson/Summerlin, NV in 14 years at age 60.5. Then I kept reading about how bad the healthcare system was there. Now I'm thinking it's not such a great idea to move from a quality healthcare city (San Diego) to one of the worst during a time when I'll increasingly need healthcare more. So I'm thinking I'll stay.
Healthcare is a critically important consideration!
Moved here from NY the 1st time 30 yrs ago. Fell in love w/ NCal immediately. Ive researched every destination in the world for upcoming retirement in 5 yrs. Frankly selling everything to do so does not make sense. I love it here & have lived in a number of places. I dont want to leave. Maybe closer to the coast & a bit north...
Leaving California can be very difficult! The good news is, it's a big state!
Born and raised in Norcal, love it.
That's great! Thanks for sharing.
I'm a native Californian but have been considering a move to Prescott Valley or Kingman in Arizona. I can take the heat much better than cold weather! As I'm 72 currently, health care is a real concern. My medical is Kaiser Permanente and, frankly, they've been great. My out-of-pocket medical costs are ridiculously low. K-P doesn't operate in AZ., so I'd lose my medical for a time and that's a real concern. My biggest concern are the politics of CA which literally scares me. Anytime you have one-party rule you're eventually going to have issues. I'm convinced that our state legislature really hate the populace and are unconcerned with our well-being. Some of the newer laws they pass up there makes my head swim!! If the legislature's pendulum doesn't start swinging back toward the center soon, that may be the one thing that forces me to eventually get out. That may be made even more difficult as they are considering an exit-tax! Good Grief!! 😮
Kingman is a hole in the wall, Prescott Valley is much more desirable, so much to do , explore and make new friends, beautiful lakes and surrounding nature. I have property there. Kaiser is in Phoenix but maybe too far for you. Don’t sell your Ca property until you have rented for a year in AZ , this will give you time to experience the 4 seasons ( snow in winter in PV and warm summers in the 90s. Good luck 😊
Kingman is trash. Prescott is now little California. Consequently, housing is not inexpensive. Quality medical care outside the major metro areas will be difficult to locate.
Thanks for sharing your thoughts and concerns. It's understandable to weigh the pros and cons of moving, especially when health care and politics play such significant roles. While Arizona's climate might suit you, losing Kaiser and dealing with California's political climate are tough considerations. It's important to carefully evaluate what's best for your health and peace of mind.
I, too, am considering leaving because of the stupid government policies. Born and raised here. I love the weather, but Newsom and Bonta have this place, so screwed up.
Thank you.
(I was) Born in Washington state in 1943;
moved to California in 1969;
have lived here ever since;
am NOT going anywhere!
I've found my place.
👍👍
Very cool! Thanks for commenting.
Having lived in California for most of my life, I left in 2007 and finished my career elsewhere. Leaving California was a great move for me. Living there very much limited me financially. Plus, it’s easy to vacation there and get all the nice amenities he describes.
Thanks for sharing!
The Golden State is my love ❤
I'm happy to hear that!
28:00 is reimbursement amount based solely on the probated estate or the entire estate? Thanks!
If there is a “formal” probate in California, the State of California is entitled to reimbursement from the probate estate.
Best California retirement video I have ever seen. 🌞🤑$$ 👍🏽Excellent🏆
Thank you!
I became curious about your claim that California State colleges offer Tuition-Free classes!! I checked with Cal State Haywarrd and they said they offer NO discounts to seniors let alone FREE tuition! In fact, the Over 60 Program has been killed since the Fall of 2012! I would suggest you fact-check your slides more often than once every 2 years!
Education Code 89330 authorizes the popular Cal State system to provide free tuition for senior citizens. Each campus must grant tuition waivers to California residents aged 60 and older. Waived fees include those for tuition, applications, health services, and instructional-related activities. Seniors can enroll in regular-session, undergraduate-level courses in subjects such as art, the humanities, agriculture, and computer studies. Here's the legal code: leginfo.legislature.ca.gov/faces/codes_displayText.xhtml?lawCode=EDC&division=8.&title=3.&part=55.&chapter=3.&article=4
(and here's the link to the information on CalState.edu: www.calstate.edu/attend/paying-for-college/csu-costs/tuition-and-fees/fee-waivers/Pages/other-fee-waivers.aspx)
My retirement locations priorities are: 1 security "crime ", 2 privacy "density", 3 cost of living.
Those are some pretty important priorities!
I'm a native Californian and retired. I can't afford to rent a home, let alone a studio apartment. I can barely afford food and have to go to the food bank on a regular basis. The cost of living even in rural areas is horrendous. Come to California if your retired and single your gross income needs to he at least $113,652 annually in order to live your best life.
SF Bay area native here and I agree, $113K is needed if you are single and don't want to watch every penny. I make $82K but can only afford basic needs. My entertainment is limited to walking and enjoying the beautiful neighborhood, public library, and volunteer work. I can't accept casual lunch dates with friends, happy hours, dinners, concerts, movies, weekend wine tasting or plays like I use too. $113K is needed for that.
California Sucks, Move to Huntsville, Alabama. Great Area..😎👍
I completely understand if you are happy and have a love for the Bay area (or a love for nearby family), but it might be worth looking into other nearby California counties! California is MASSIVE, even larger than some European counties. Here is a list of some of the most affordable counties in CA: www.kiplinger.com/taxes/cheapest-places-to-live-in-california
@@CunninghamLegal I live in Trinity Co.
@@Justaguywithtruth I hate rain, hail, tornadoes, floods etc. l am well adjusted to earthquakes. l will remain in California.
natures good , except politicians
Thank you . This is what I thought of.you confirm it.
Great! Thanks for leaving a comment.
Before you slam other states about SS taxation look at those states and their property tax rate and a possible 45-50% tax basis reduction when you reach a certain age.
Utah/Arizona property tax rate is approximately .5% and utah has a primary residential exemption of 45% off the assessed value.
Thank you for your insightful comment. How much an individual pays in taxes has many, many variables including taxation of SS income as well as property taxation. It should be noted that property taxation is highly localized. It is based not only on the state, and county, but city / municipality as well as other tax and service districts that may be in only part of a county or city.
I love living here in beautiful California 😎
Us too! California is indeed a fantastic place to live, with its stunning natural beauty, diverse climate, and vibrant cultural offerings.
I use to live in California. Not any more. It is the last place I would ever considering retiring.
I'm sorry to hear that!
You should watch this video! It’s not just the most beautiful state, but also has so many advantages over other states!
I went to europe for two years, it was awesome
Great to hear!
they told US that we didn't need to make English the official language by legislation because that was crazy to believe any other language would be used - THEY LIED over 100 languages is a reason CA has one of the worst public school systems in the country
I think our school system is great. My daughter attended CA public schools and just graduated. She was able to learn Japanese throughout grade school and could speak and read when we visited Japan. She attended an arts high school, again public, which enriched her creative side with theater, costuming, and music education. Now she thrifts clothes and sews amazing outfits. But she also was able to take AP classes in Calculus, History, Environmental Science, etc. She got into a great college. And none of her schools banned books or limited her access to our great libraries. Our diversity is our advantage! Being multi-lingual (English + another language) has been proven to improve cognitive skills. That’s how it is in California. We are preparing our kids to be leaders and thrive in a world of 8 billion diverse people.
@@mk500 CA schools are ranked at the bottom in aggregate - FL is ranked at the top
40 year Californian here. You're either lying or you've lapsed back into the eighties. Either way you shouldn't be posting.
What are you smoking? just because flyers from the state come in 120 different languages doesn't mean they teach anything but English in the public school system. I have two children going through the public school system, including College.
Please step away from those who are ill advising you.
@@tomallen5837 lol
I love visiting California. I really enjoy the redwood forest; wine country; Hwy 1; west coat and the sunset. It has the great ethnic food.
The main thing that keeps me from staying is the traffic and high cost of housing.
California truly is beautiful, and the culture is unmatched. Traffic and housing prices can be burdensome, but it really depends on where in California you live for those things. It is a VERY large state!
Very informative, Thank you
Of course! Thanks for watching.
retire here but you’ll probably be visiting your children and grandchildren living out of state. Almost impossible for them to afford cost of living in California these days. State tax and property taxes alone are crippling for them.
This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
You can contact CunninghamLegal if you are looking for a referral to a financial advisor!
Coastal California is expensive but not inland California. Furthermore California doesn't tax SSA and property taxes are low. Income tax is progressive so if you are making less in retirement you are not paying much taxes to the state. Healthcare is top notch and if you are low income subsidized.
Agreed! Thanks for leaving a comment.
I’m a native Californian and proud of it. I take exception about boasting of California’s agriculture. It is widely known that we have a water problem in the state, this is not due to lack of water, it is due to use of water. Eighty percent of California’s water goes to agriculture, yet agriculture accounts for less than 3 percent of California’s GDP. The number one crop that our water grows is alfalfa, which goes to feed cows. It’s estimated that if no alfalfa were grown in California, there would be enough water saved for 3/4 of the state’s human population. You might say that California does not have a water problem, it has a cow problem. I doubt that riparian rights will be resolved anytime soon, but rather, because of advances in precision fermentation, the dairy industry in California will soon wither away. I personally don’t buy California milk , you can get milk from Arkansas through places like Walmart for half the price of California milk.
That's a really interesting perspective! Thanks for commenting. California is certainly known for it's water problem. California is a leading agricultural state in the United States, producing over 13% of the nation's agricultural production value. Over a third of the country's vegetables and over three-quarters of the country's fruits and nuts are grown in California.
Thanks for the reply. Don’t get me wrong, I’m not advocating the demise of all agriculture in California, we are world renowned for many crops like wine grapes, almonds and certain vegetables but the country is hardly dependent upon the state’s production of much of our agriculture, after all , the Mississippi Valley is the largest area of agricultural land in the world. Onions, tomatoes, corn and much more has got California beat hands down when it comes to taste, I also laugh when I sit down in a restaurant in California and see steak brought in from Idaho.
I would like to know what is available for those of us wanting to retire early in terms of medical plans. COBRA is very expensive and caps at 18 months.
Retiring early? Let’s talk health insurance options-because COBRA is not only expensive but also taps out after 18 months. Here’s the deal: Affordable Care Act (ACA) marketplace plans can be a lifesaver, especially if you can keep your income low and qualify for subsidies.
Medi-Cal is also an option if you are low income. Medicaid could be an option if you can drop your income low enough, or check to see if your old employer offers retiree health benefits. For short-term gaps, there are temporary insurance plans, but they’re limited to major medical events.
Private insurance is another route, though it tends to be pricier without those subsidies. Some people opt for healthcare sharing ministries-not technically insurance, but often more affordable if you’re healthy.
If you’re not entirely ready to quit working, a part-time gig at a company like Starbucks or Costco could get you benefits.
Married? Don’t forget about hopping onto your spouse’s employer plan. Got an HSA? Pair it with a high-deductible plan and use those tax-free dollars for medical costs.
Feeling adventurous? Some retirees even move abroad to take advantage of affordable healthcare in other countries. Smart planning-especially with a financial advisor-can help you navigate this and keep your retirement dreams on track.
The first thing I would consider to retire in any State, I make sure we are close to Va Hospital and grocery stores and shopping malls and military base and we have them all right now so I was thinking hard that my no 1, State to retire is California for now and the diversity of foods, restaurants, people and weather is excellent!
Great! Thanks for sharing.
I enjoyed your video! So thankful we have people like you.
Thank you!
I have been in CA for about 35 years and love it. I am now retired and have looked at retiring out of CA but I think what I have seen here the best place to stay is here in N. California. My only complaint is the Newsom and the CPUC (in criminals in bed with the power company's) that are constantly attacking the cit of CA with increased costs in one way or another, oh I for got organized crime by the name of PG&E. Great video.
Thanks for sharing your thoughts! It's great to hear that you've enjoyed living in Northern California for so long and find it a fantastic place to retire. While the cost increases and issues with the CPUC and PG&E are frustrating, it sounds like you believe the overall lifestyle and environment make it worth staying.
Interesting that some arguing for California for retirement. Looks like cost of living is the biggest risk but if you can bear that, the weather, food, and everything else seem pretty good
California is beautiful and culturally diverse. It comes with a cost, but to many, it is well worth it!
No brainer to retire in CA if you bought your house several decades ago.
You’re right! Retiring in California is a no-brainer if you bought your house decades ago because Prop 13 keeps your property taxes low (1% of the purchase value with limited annual increases). Plus, you get to enjoy the state's great weather, diverse culture, and graduated tax system.
I agree that the Sacramento area is a popular location to retire. I visited my brother in Oklahoma a few years ago and the fresh fruit and vegetables were not as abundant as they are in the Sacramento area. Me and my wife are fortunate to have very good state pensions with health benefits and can afford to remain in California.
Shhh, don’t tell anyone, pls keep as many people out as possible. Weather, diversity, jobs, Yosemite, Tahoe, Napa Valley, Carmel, San Diego, education, culture, music, natural beauty, food supply, healthcare, freedom to be who you are… so many reasons to live here. I’ll never live anywhere else!
Well said!
While Cali is a beautiful place, it's very hard to move from a life time of living in a low cost area, like Ohio, to a high cost retirement destination like California. Maybe I could live in the onion fields of Oxnard?
Here's a list of 11 affordable places to live in California, according to California.com: www.california.com/most-affordable-places-live-california/
1. Clearlake
2. Bakersfield
3. Fresno
4. Eureka
5. Stockton
6. Clovis
7. Sacramento
8. Chico
10. Visalia
11. San Jacinto
Low humidity is a biggie for me. Having been born & raised in the southeast, I've lived in the Bay Area for 50 years significantly for this reason. Having to shower 3 times a day is no fun.
Climate is a HUGE reason many people stay in California! Thanks for sharing.
As hard as it is to admit, I agree, in general, with your analysis.
A caveat
Re property taxes. Although 13 is a lifesaver, local bond issuance is adding up quickly. The bond interest and principal is paid for by taxes on RE. In our neck of the woods these payments are approaching 10% of our prop tax bill and growing each election cycle.
Our tax dollars are poorly allocated with poor results in many areas including homelessness, unemployment insurance, public schools to name a few. Admittedly not big issues for retirees in the state but a concern for the future.
Having said this, the physical reality for us is family and extremely advantageous Mort rate...and some of the best sailing in the World 😂
Thanks for sharing your perspective! It's true that while Prop 13 helps keep property taxes low, local bond measures can add to the tax burden over time. Despite challenges like tax allocation and public spending, it sounds like the combination of family ties, a great mortgage rate, and amazing sailing keeps California appealing for you. You have a great name, by the way.
Fantastic video. I had no idea about these post retirement intricacies. Are there any other states that meet three of these conditions: Prop 13 like system or close, no tax on SS, a system similar to Medi-cal. What about FL?
Thank you for your comment @ajaydawar. Other states do have property tax protections akin to Prop 13 (not increasing taxes for seniors willy-nilly), many states don’t tax social security but Colorado, Connecticut, Kansas, Minnesota, Montana, New Mexico, Rhode Island, Utah and Vermont do. California’s Medi-Cal (Medicaid) system is THE MOST GENEROUS in the USA.
I literally thought this video was going to be a joke…..he’s actually serious 😂😂😂😂
Of course! Although it may not be perfect, California is a pretty great place to be.
Sounds like you consume GOP favored media which shows CA homeless/crime videos on a loop. Attempt is to get CA residents to vote GOP, the downside is it gets GOP voters to move out to retire. Without knowing all the things Jim just covered.
California doesn't tax social security? Please tell me where I can read about this...
Social security benefits are not taxable by the State of California. www.cunninghamlegal.com/california-retirement-taxes/
State's website: www.taxes.ca.gov/Income_Tax/specialind.html#:~:text=Social%20security%20benefits%20are%20not,on%20the%2Djob%2Dinjury.
At what estate value does it make sense to hire your firm for legal services related to estate planning and tax planning strategies?
Typically, estates with over $1M+ in Net Worth (all assets including retirement accounts, investments, real estate, etc.) see the most benefit from the tax planning that we are able to do with estate planning strategies. But avoiding probate is one of the key factors for creating an estate plan!