Why should you RETIRE in California?
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- Опубліковано 22 лип 2024
- You should consider retiring in California! From estate taxes to culture, get informed on all you need for a golden retirement. 👉 Book a Call at www.cunninghamlegal.com/book-... for retirement planning, estate planning, and California living trusts.
We'll explore the benefits of favorable California retirement taxes, its breathtaking climate, and rich cultural offerings. Learn how Medi-Cal can support your healthcare needs and understand the advantages of having no state death tax. From sunny beaches to bustling cities, California retirement offers a vibrant lifestyle for retirees. Don't leave your golden years to chance-get informed on all the reasons why retiring in California is the perfect place to enjoy a your hard earned relaxation. Watch now and plan your dream retirement in California!
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#cunninghamlegal #estateplanning #retirement
I'm 61 and retired about 3 years ago, 15year mortgage was paid off in 10 years. I have lost 45 pounds, and my blood pressure has dropped into normal range. A take a walk or bike ride almost every day. I make music and art, garden, cook, read, write, travel, and get to follow my muse wherever it may lead me. I haven't been this happy and healthy since childhood. Retirement is paradise to me.
I retired at 57, 7 years ago. My wife and I saved and invested early allowing me to exit the workforce when I did. We are not special and believe most people can do this with the appropriate information and help of an elite financial coach.
@@RichardGeorge-pz3wm wow Good for you🥰. I want to be in that frame of mind two
That sounds wonderful! Thanks for sharing.
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!
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.
California has great weather...never mind California’s power grid reliability is below average, off the 50 states, only Hawaii (40.22 cents per KWH) has higher residential electricity costs than California’s 29.58 cents per KWH, for these high prices Californians get a power grid that ranks 35th in reliability according to U.S. News and World Report, high fuel taxes (set to rise $0.50 per year next year), 1/3 of all homeless, less than 50% of households pay taxes and they pay for welfare for the other half, California’s violent crime rate increased by 6% from 2020 to 2021 and another 6% from 2021 to 2022. Robberies were up 10% in 2022, Retail theft is up 14%, When sales and property taxes are factored in California has the 12th highest tax burden in the country, no ICE vehicles after 2030, plan a mileage tax on all vehicles, sanctuary state with an estimated 12 million illegals you will pay benefits for, de-criminalized crime, okay if you are very wealthy but they plan a millionaire tax and an exit tax for the wealthy, rent control on the ballot this Nov, insurance rates are spiking, According to the Tax Foundation the business tax climate ranks 48th (Only New York and New Jersey rank lower among the 50 states),California results in the highest poverty rate in the country once the cost of living is factored in-California’s rate of 13.2% is 35% higher than the national rate of 9.8%...but did I mention the weather is great?
Lived in southern California 45+ years now.
Property owners (like me) in fire-prone areas are losing homeowners insurance due to changes in CA state requirements on insurers on how to compute premiums. The State likes to whinge about 'climate change', but everyone locally knows much of the increased fire risk is really about the State's resistance to proper forest & brush management in the State's effort to appease anti-business, anti-logging, and tree-hugger activists who (amazeballs!) don't live in the boonies, but Feel Real Good about their activism. Ask Me How I Know.
Cost of materials and labor for property management is up 20% over the last 5 years alon, and show no signs of slowing down. My laborers have to pay COLA too.
Early retired I pay $660/mo for the cheapest health insurance on the CA exchange for my age; all I need is catastrophic but that's not an option AFAICT.
Silly (IMHO) people here voted for Proposition 19 and supports painting crosswalks pleasing 'rainbow' colors, the latter of which does zip-all concrete for rainbow people.
CA hypocritically calls itself 'green' while importing electricity from Montana where power is produced from burning coal.
But the weather's great!
CA goes for off-grid with the help of the state. I will be so happy if the selfish bunch afraid of tax move out of CA because they are the suckers of all tax benefits through healthcare and any things else they can dip their hands into.
Yup I'm moving
We are out by November 2024. Lived here all my life, I no longer feel physically safe and must protect our children's inheritance. Weather is not enough.
Touche!! "California has great weather" lolol
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.
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
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.
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.
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.
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.
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!
After investing from my salary of 350k for 4 years, I've only made about 8% total, or 2% per year, which my friends say is very low. My employer 401k of $220K returns about 4%. What would you advice to do with my portfolio for improved returns?
I don.t really know your risk tolerance or asset allocation, sounds like just bad stock picking. Also unclear if you have an advisor providing value via financial planning or other decision making. But likely scenario is just bad stock picks. Index funds, Etfs and chill.
The issue is most people have the “I will do it myself mentality” but not skilled enough. Ideally, advisors are perfect reps for investing jobs and at first-hand experience, my portfolio has yielded over 330% since covid-outbreak to date, summing up nearly $1m.
If you would like to research financial advisory firms, Ascent Wealth Management is a great choice to consider: www.lindseyandlindsey.com/ascent-wealth-management
That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with, please?
Amber Kay Wright is the licensed advisor I use. Just research the name. You’ll find necessary details to work with to set up an appointment.
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!
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.
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💩📕🤡🧐🤣😂
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.
It is benefiting Social Security and will continue to benefit Social Security, but what we really need is immigration reform. With immigration reform, employers will now be required to comply with legal requirements, preventing individuals from receiving illegal payments and avoiding FICA contributions.
There are many friends who have supported my overseas retirement; in fact, I've become closer to some of them. However, I've always been a bit of a friend's guy; I work hard and believe that it pays off in many ways. In this case, it paid off with my retirement plan with my F.A. because I've received letters from people asking for support; you know, I've hidden where my wealth comes from, not being stingy but sincere.
Let's talk about that now. First of all, yeah, bureaucrats shouldn't have been doing this. Congress should have drafted the laws with more specificity so that the bureaucrats could merely carry them out. However, that wasn't the case, so the bureaucrats had to interpret the laws.
For the love of God, could you kindly forward your pro? The lawsuit that the judge informed us about is appointed indefinitely, so they don't really care that we know they are accountable to us. They will pass legislation, Social Security, Medicare, and all the others must follow it.
flows of Molina and other companies going forward, and so I believe that's one problem right now. Revenue earnings did, in fact, eventually decline last quarter, falling by 1%.
Although it pains me to say it, *Leah* *Foster* *Alderman* is well-known; she is the ideal advertisement. ( CoreyLloydo ) This is why it has dropped so much; its relative strength is two, which indicates that only 1% of the market has outperformed this-oops, sorry, only 1% of the market has performed worse than this name over the past year. There is also no dividend here, and at $400 million, it is approaching micro cap territory. The technicals are awful.
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.
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.
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.
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.
I’m closing in on retirement, too, and I have benefitted so much from using a financial advisor. I didn’t start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who had been investing for many years.
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!
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
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.
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.
Mild climate?! A high of 115 in Fresno today. California is burning up. Water could become a problem in most areas. Oh, the earthquakes!! California probates are also very expensive which means you need to get a lawyer involved to create trusts etc.
California is one of the few places where five major climate types occur in close proximity. In CA, the Desert, Cool Interior, Highland, and Steppe climates border a small Mediterranean climate. This makes it very diverse! You are absolutely correct about needing a Living Trust or some kind of Estate Plan to avoid California's expensive Probate process!
This was excellent, thank you.
Glad you enjoyed it!
Start early with diversified investments in stocks, bonds, and real estate. Maximize contributions to tax-advantaged accounts like 401(k)s and IRAs. Regularly review and adjust your strategy to ensure security.
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Thanks for the info. I'll reach out to him immediately
His reputation already speak for him $150K last Month.
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🧐🤔🤨👍
Very informative, Thank you
Of course! Thanks for watching.
Sorry, the CA regulatory state is destroying agriculture and severely limiting your ability to grow your own food. Oregon is nearly as bad. Both have high income taxes.
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.
natures good , except politicians
IRS do tax you on social security income and yes State of California do not tax on social security income
Great video
Thanks for the visit.
Look into Lake Ashton (Winter Haven & Lake Wales, Florida). Absolutely amazing. Less expensive homes, MUCH lower taxes, beaches, theme parks, golf 365. We have people here who came from California and and so happy that they did.
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!
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😎👍
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!
Thank u!
You're welcome!
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.
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.
Thank you for this information! It makes me proud to be a Native Californian ✌🏻
Me too!
🤖🎪🧐🤔🤨😂👍
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.”
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!
Retire in California ?
I wouldn't even fly over California on my way to somewhere else.
Sounds like you live in one of those cheap undesirable flyover states.
You’re the one missing out on California’s natural beauty if you’re not visiting. It is not missing out on you.
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.
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
Born and raised in Norcal, love it.
That's great! Thanks for sharing.
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.
Beautiful place to live, but it’s damn expensive
It can definitely be both of those things!
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!
No way. Grew up there. Never ever going back.
I'm sorry to hear that!
@@CunninghamLegal you gloss over the disaster that is now CA. Diversity. Sure, but all the political power is on the coast & you know it. There is an upper class (including retirees with great pensions) & a poor class. The middle is non-existant or screwed. The geography is great. Some of the best in the world.
Bakersfield?
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.
This is not only a rural area problem. CA has designated certain zip codes that don’t even have hills near them and are cancelling and doubling homeowners insurance policies. People have to remove shrubs and trees within 5 feet of their homes. It’s ridiculous.
Actually I have Sharp health care. They are not any good.
I'm sorry to hear that you are unhappy with your provider. Here are some resources to find other healthcare providers in California: www.healthforcalifornia.com/covered-california/health-care
I’m confused why Granny’s estate isn’t sold to go towards her SNF stay? In Ohio, we had to sell my mothers home and go through that money before she had no money then was placed on Medicaid. I am wondering if California only looks at savings, pensions and SS as pay outs.
If Granny were in California, the State only looks at the INCOME from those assets and not even the underlying assets anymore. For many years in California, a person who receives care in a skilled nursing care facility can keep a personal residence of any value and not have that counted against them for qualifying for public assistance benefits. You raise an important point that each state has its own laws. The upshot is that if you will likely end up on public assistance benefits, California can be a great place.
Two words. Gavin. Newsom.
How many people just came for the comments. Hahaha!
It seems that retiring in California is a highly controversial topic!
Did you say there is No Capital Gains in California????? Please advise Thank you
California does have a capital gains tax, but unlike the federal government, California makes no distinction between short-term and long-term capital gains. It taxes all capital gains as income, using the same rates and brackets as the regular state income tax. Here is additional information: www.ftb.ca.gov/file/personal/income-types/capital-gains-and-losses.html
Beautiful climate 🙄
110 degrees for 15 days straight in Sacramento
It was 68 on the Monterey Peninsula
110 F isn't ideal obviously, but it's mostly unbearable in the afternoon only (try to stay inside with AC).
In Texas and Florida I believe it's the whole summer, 24/7 heat WITH humidity.
110 is not the norm here. We hit 104 in some areas in the Bay Area and this is rare occurrence.
@@delayedgratification581 it would be nice to stay home and AC 24/7.
Got to work
It was 78 at La Jolla.
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.
Left out if you like high crime but want a warm, dry climate. 😊
I think you'll find that crime rate varies greatly by county and encourage you to take a deeper dive into the statistics: www.ppic.org/data-set/crime-rates-in-california/
You have to pick by crime stats then the home . Also weather will vary many micro climates easy to pick best weather . And location in the middle then 2 hour drive to the snow or ocean .
My biggest issue is how California taxes state pension and all investments, including 401K and taxable accounts. Anything I can do, other than converting as much 401K to Roth IRA as possible?
Yes, there are many options. This is why for many clients we recommend a team approach, using an A-Team structure. This is an approach where your savvy estate planning attorney works closely with your Certified Financial Planner and CPA to craft a customized, multi-year strategy to minimize overall taxes and maximize the creation and preservation of personal and intergenerational wealth. Ascent Wealth Management has been on many of our videos and I would encourage you to look at those and set a time to meet with them: www.lindseyandlindsey.com/ascent-wealth-management
Uh no, I want to leave
Me too. Hate this place!
I love your Abel Baker, Charlie Delta. Sounds like you were in the military?????
Those are actually the names they use in law school to keep it consistent. I also use: Hal = Husband and Wanda = Wife!
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!
san Jose Ca, not apply PRo .13
Please check out our Prop 13/19 videos: ua-cam.com/play/PLAoOpG0ejJDdbZcbpUSqTupNVvB6tG5M6.html
After watching your channel (your first episode on this same topic), I've reconsidered and I think it does make sense. Besides I LOVE CALIFORNIA. 😊
That's great to hear. California is a great place to be!
No asset test for Medi-Ca is crazy!!!
It certainly is an interesting change!
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!
Can you find me an affordable house? Lol
Sure, take a look in these beautiful California counties: www.kiplinger.com/taxes/cheapest-places-to-live-in-california (Rural areas of the state generally offer more affordable living than highly populated areas)
@@CunninghamLegal But not in the mts where fire insurance is so high you can't afford to buy a house, you will have to live in the valley or the desert, where it's so hot just move to az or nv at that point
What About IRMAA in CA?
The Medicare Income-Related Monthly Adjustment Amount (IRMAA) is an additional charge on the premiums for Medicare Part B (medical insurance) and Part D (prescription drug plans). This surcharge is imposed solely on Medicare beneficiaries whose Modified Adjusted Gross Income exceeds $103,000 for those filing individually or $206,000 for those filing jointly in 2024.
The Golden State is my love ❤
I'm happy to hear that!
Lmao!!!
No idea why Illinois is bad for retirees. Illinois does not tax any retirement income.
According to TaxFoundation.org, Illinois has a 12.9% State and Local Tax Burden, which ranks the state 44th in Tax Burdens. Take a look here: taxfoundation.org/location/illinois/#:~:text=Illinois%20has%20a%20flat%204.95,tax%20rate%20of%208.86%20percent.
Illinois has very high property taxes.
Hablo espanol?
Nuestro equipo habla español. Por favor, contáctenos en www.cunninghamlegal.com/california-law-offices/contact/ o llámenos a 866.988.3956
Nuestro abogado, Diego Alvarez-Miranda lo puede ayudar. Si gusta saber más sobre él, puede ver su bio en: www.cunninghamlegal.com/team/diego-alvarez-miranda/
LOL California is a fantastic state to retire only when you have lots of.. I mean lots of money.
S-Won! ❤☝️⭐️🌟
best thing is the food, it will take care of your retirement. if you have a few months or years to spare, go to another country to at least spend it with joy and happiness. The united states in general has always been hell while other countries are heaven, with friendly happy people who might not have jobs but they have humanity.
That's an interesting perspective. Thanks for sharing!
Yeah … that’s never going to happen 😎
To each their own, I suppose!
😂
I pay taxes on my SS. That is 60% of my income. When state taxes were no longer deductible my taxes went up $900 thx trump. My home is almost a million, my prop taxes sre almost 6000. How do you get 7,k fo2 million? You didn't mention we get a living wage. In texas I couldn't even get a job offer without fringe benefits for the employer.
What?
California doesn't tax SS.
you taxes are high because of dementia joe's party and newsom and co make it worse every year
The tax was based on 1% of the original purchase price of $500k plus 2% per year increase.