Author Topic: Best places to settle down once FIRE?  (Read 6008 times)

WestchesterFrugal

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Best places to settle down once FIRE?
« on: March 16, 2014, 10:09:10 AM »
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« Last Edit: March 23, 2014, 09:33:23 AM by WestchesterFrugal »

Weedy Acres

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Re: Best places to settle down once FIRE?
« Reply #1 on: March 16, 2014, 04:32:03 PM »
Low taxes, fiscally-responsible state government (wouldn't pick a state with a huge unfunded pension liability problem, for example).

neal

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Re: Best places to settle down once FIRE?
« Reply #2 on: March 16, 2014, 04:43:19 PM »
Low taxes, fiscally-responsible state government (wouldn't pick a state with a huge unfunded pension liability problem, for example).




Do you have an example of such states?

TreeTired

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Re: Best places to settle down once FIRE?
« Reply #3 on: March 16, 2014, 06:30:59 PM »
Quote
Considerations include (in our priority) being near children wherever they eventually settle, climate, culture, ability to pursue our specific interests/hobbies, amenities


In that case you probably want to wait until your children get through college, have a career and settle down to a certain extent.  You might want to wait until they have children (your grandchildren).    We moved to this area (north of Charlotte NC) for a variety of reasons - we have no grandchildren -  but we have met many people who moved here to be near their grandchildren.  I was speaking to just one of many friends who have done this, and I commented how great it was that his children (and grandchildren) live in this area where he can enjoy the good weather and outdoor activities that he seems to enjoy so much.  His response to me was,  "It wouldn't matter"....  in other words, he would be living near his grandchildren wherever that was.   Those are his priorities. 

bikebum

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Re: Best places to settle down once FIRE?
« Reply #4 on: March 16, 2014, 06:35:35 PM »
When we are retired, we'd like to do some long term traveling in cheap countries like Ecuador or Nepal. Not really settling down, but I think it can be cheaper than living in the US.

Eggman111

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lexie2000

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Re: Best places to settle down once FIRE?
« Reply #6 on: March 16, 2014, 06:59:36 PM »
We moved to our early retirement location before DH retired.  It was a job relocation that happened to be near family.  It was pretty sweet as his company paid for everything including the RE commission on the sale of our home.  We plan to stay here for at least another 8-10 years then re-retire to some kind of retirement community.

DoubleDown

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Re: Best places to settle down once FIRE?
« Reply #7 on: March 16, 2014, 07:28:23 PM »
Best Place to Retire?

Westchester, NY.

frugal_engineer

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Re: Best places to settle down once FIRE?
« Reply #8 on: March 17, 2014, 05:51:37 AM »
Best Place to Retire?

Westchester, NY.

He meant Western NY. Buffalo and Rochester NY are probably (not having read all of the above linked to threads) some great options for FIRE.  Good culture, low COL, great summers, great winters if you like snow, close to all sorts of outdoor activities.  Taxes maybe on the high side for FIRE but you get what you pay for, they actually have these things called plows and the world doesn't shut down at the first sign of snow!

KBecks

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Re: Best places to settle down once FIRE?
« Reply #9 on: March 17, 2014, 07:54:30 AM »
This is such a good question, and at your age (and even at mine, I'm almost 44) it's probably too early to tell.  For now, we are busy and happy at our home base in Wisconsin.   We can retire right here and it would not be too bad, except for the cold winters.  And we have friends and family and a social life.

We could downsize in our community.  Or we could go nearby but to a prettier area --- I do have interest in Door County, WI, which is nearby, pretty (but the winters are very quiet, but I like quiet),  and summers are kind of nuts with tourists.   

I have visions of a lake, but a cousin has a home on a lake and after he had explored it thoroughly, it's now, just a lake and not that exciting anymore. 

Hard to say, really.  Let us know what you dream about.

I would like to be able to travel.  Maybe staying at our home base, or a smaller home base for 2 people, and some nice travel would be cool.

My uncle who is almost 90, has a lake cottage (almost a shack) where he lives in summer, and then he and his girlfriend go on great driving trips out West in the winter.  He's really happy.

Mister Fancypants

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Re: Best places to settle down once FIRE?
« Reply #10 on: March 17, 2014, 09:53:59 AM »
The Caymans, no more US taxes :)

Carrie

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Re: Best places to settle down once FIRE?
« Reply #11 on: March 17, 2014, 10:01:29 AM »
We're leaning towards a small college town (less than 100k population, maybe even as small as 25k), probably somewhere in the South. We'll be looking for low cost of living and we'll be analyzing tax advantages.  I'm not sure yet if we will want a rural property, or something in town that is walkable/bikeable.  Ideally we'd be in a liberal/artsy area (which is hard to find in the South), that would be close to mountains/great hiking & pretty views.

(I've never been there, but Asheville NC seems like it'd be a viable option; we really need to plan a vacation there to check it out.)

quilter

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Re: Best places to settle down once FIRE?
« Reply #12 on: March 17, 2014, 10:13:19 AM »
Best Place to Retire?

Westchester, NY.

He meant Western NY. Buffalo and Rochester NY are probably (not having read all of the above linked to threads) some great options for FIRE.  Good culture, low COL, great summers, great winters if you like snow, close to all sorts of outdoor activities.  Taxes maybe on the high side for FIRE but you get what you pay for, they actually have these things called plows and the world doesn't shut down at the first sign of snow!

How funny. We left upstate ny for warm weather. The property and income taxes were killing us with the utility bills. The wear and tear on your cars from the weather, salt on the roads and potholes was immense. We live in a retirement community and there are scads of snow belt migrants here.  Now we swim, bike, walk and play outdoor sports all winter. But, to each his own. Everyone has to figure out what works for them.

One thing to consider is the general attitude and lifestyle of the area. If you are very liberal for example, avoid the super conservative areas.  If you love to shoot guns, a city would be more difficult.  These are broad examples meant to just make you think.

We spent several years traveling around and staying for a week or two. Just by walking down the streets, reading the local paper and attending local events can tell you a lot.

We actually are further from our grandkids, but we spend so much less here that we have extra money to visit them. We fly or drive, spend a few days with them then off to some locale for sightseeing then back for a few days. It works out great.  Their parents know we will drop everything and head there at a moments notice.  Besides, today's youth are mobile due to job opportunities so I would be wary of moving close unless it was also a good situation for us as well.

James

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Re: Best places to settle down once FIRE?
« Reply #13 on: March 17, 2014, 11:41:19 AM »
We're leaning towards a small college town (less than 100k population, maybe even as small as 25k), probably somewhere in the South. We'll be looking for low cost of living and we'll be analyzing tax advantages.  I'm not sure yet if we will want a rural property, or something in town that is walkable/bikeable.  Ideally we'd be in a liberal/artsy area (which is hard to find in the South), that would be close to mountains/great hiking & pretty views.

(I've never been there, but Asheville NC seems like it'd be a viable option; we really need to plan a vacation there to check it out.)


My brother lives in Asheville, and we hope to move there at some point. Certainly has the "liberal/artsy" thing down, only issue is affordability if living in town. Once the kids are gone I don't think affordability will be a big issue for us, we can live in a very small space and it doesn't need to be fancy.


I interviewed there last summer and was offered a job, but the pay was at least a 30% cut. That along with the increased COL means it isn't a great place to set ourselves up for FIRE, but heading there later will be ok.

James

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Re: Best places to settle down once FIRE?
« Reply #14 on: March 17, 2014, 11:47:46 AM »
This is such a good question, and at your age (and even at mine, I'm almost 44) it's probably too early to tell.  For now, we are busy and happy at our home base in Wisconsin.   We can retire right here and it would not be too bad, except for the cold winters.  And we have friends and family and a social life.

We could downsize in our community.  Or we could go nearby but to a prettier area --- I do have interest in Door County, WI, which is nearby, pretty (but the winters are very quiet, but I like quiet),  and summers are kind of nuts with tourists.   

I have visions of a lake, but a cousin has a home on a lake and after he had explored it thoroughly, it's now, just a lake and not that exciting anymore. 

Hard to say, really.  Let us know what you dream about.

I would like to be able to travel.  Maybe staying at our home base, or a smaller home base for 2 people, and some nice travel would be cool.

My uncle who is almost 90, has a lake cottage (almost a shack) where he lives in summer, and then he and his girlfriend go on great driving trips out West in the winter.  He's really happy.


I am in Wisconsin also, up in Rice Lake. (and just 2 years younger than you lol) We did live on a lake for a few years and you are completely right, after a while it's just a lake and not that exciting anymore. Certainly wasn't worth it for us, we liked our house along the river much better.


The cold is what is getting to us at this point, we don't mind a bit of it, but living in a place where there is more than 50% winter is just not for us. We both grew up in this climate, so it's not like we aren't used to it, we just don't like it.


Right now we are simply appreciating the low COL and high midwest pay to save up for whatever the future brings. Once our kids finish school it will be a good time to move, the question is whether we will have made enough friends by then to make moving difficult. :)

Jamesqf

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Re: Best places to settle down once FIRE?
« Reply #15 on: March 17, 2014, 11:48:54 AM »
Considerations include (in our priority) being near children wherever they eventually settle, climate, culture, ability to pursue our specific interests/hobbies, amenities

Hard to give any suggestions without knowing what your interests/hobbies are, and your tastes in climate.  As in if you like skiing, Hawai'i would not be high on your list, while Colorado would not be prime retirement location for a surfer.  And if you're me, and enjoy snow but wilt in the heat, the southeast would be out of the question.

Stache In Training

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Re: Best places to settle down once FIRE?
« Reply #16 on: March 17, 2014, 11:03:06 PM »
A few years ago, Laramie WY was voted as the best place to retire, from a financial standpoint.  Saw it in money magazine.  Factors such as no state income tax or city tax, the University of Wyoming keeps the real estate market pretty steady, no budget shortfalls EVER, AA+ bond rating, good hospitals, and low cost of living.  I live there now.  I'd say financially, yes it's great.  However the winters are brutal (7th coldest town in all of America. Yes, Alaska is included), but the summers are PARADISE!  If you like outdoors, it's a mecca!