Illinois DOES NOT tax any form of retirement income as you have stated. Pension, social security, IRA and 401k are all exempt from Illinois State taxes. It's important to get these statements correct as it calls into question your statements on other States and issues.
We need a Monarchy. "Yet have I set my king upon my holy hill of Zion" (Psalm 2:6, KJV). Praise God, the Lord Jesus Christ shall keep His covenant with Israel.
Going by this video, all retirees would benefit by moving to Louisianna, Mississippi, W. Virginia, Arkansas, N. Dakota, etc. Basically, move to a place where no one in their right mind would ever want to live.
It’ll keep getting worse if the people don’t stand up against the government and corporations. At some point Americans are going to have to grow a spine.
YOU FORGOT FLORIDA, where you will be paying $ 20,000 for Homeowners, and another $ 20,000 for property taxes, for a house that no longer exists because the latest hurricane washed it away...
Most retirees own their home outright, so only pay property taxes and maintenance costs. And even in states with apparently high taxes, a lot of your money is exempt due to the personal deduction. Also assessed value for property taxes are not the same as market value. Market value is normally much higher. This video distorts the actual cost of living.
I agree with you Michael, but I would go further and say we have been at too much is too much for several years now. We are past enough is enough. People need to write a petition letter and send them to their congressmen.
I had retired from Silicon Valley where the price of a burger can be as high as $18. So I move to Lodi, California where houses are ½ the price and twice the size. At the invitation of a friend, I visited Malaysia and I was blown away by the hospitality of the people. Being a British colony before, most people speak very good English. Foreigners are welcome here. Most importantly of all, I found out that I can live here like lord for as little as $1000 per month. Am considering moving here. No drug problem, no guns and no violent crimes like the the ones we have in SF, LA or NY
Upper Midwest region has turned into 1 of best places to retire. Ann Arbor, MI for example rates top3 best places to live every year. Expensive place but..30min outside is more affordable & just as nice w/less congestion. Same w/ Columbus, OH for example. Just got 2 new semi conductor facilities there so real estate prices goin way up but 30min outside city & burbs are quant small twns that are pretty & quite affordable.
The American dream was just that, “A Dream” because you worked your butt off, long hard hours, 35 years and something 40 years. Now, that you, finally, retired but still have to pay federal taxes, social security taxes, Medicare deductible and so many other taxes. You realize that you were played for a fool. Even, some of our retired senior citizens, including women, are living out of their cars because they cannot afford housing expenses.
Let's be honest with one another, Who would of ever thought in our lifetime we be seeing and paying all these out of control prices, When these are the last of our years we should be enjoying our lifes, Yes some say its the red states and some say its the blue states, And I say it's the red white and blue states and their all responsible for this big mess along with Washington DC. Funny how these politicians go in with nothing come out with lottery tickets worth millions today, And y'all want to know why we're in the shape we're in, 36 Trillion And Counting, I work all my life to pay everyone else's bills seems like anymore but my own.
Wisconsin, the property taxes are now insane. 8K a year to get some street plowing on my block is an outrage - the schools are getting worse and roads are potholed to hell.
@@chuckgranger9777 I don’t think that everyone thinks Boston is whole MA. It’s just that when one say, Boston it stands out for its name to represent MA, least I hope that’s how people imagine Boston. MA is beautiful 😻 it is expensive like everywhere else there’s good and bad everywhere. Ma is known for its quality of life, healthcare, and education. If you can afford to live here there is many quiet and beautiful areas and with a lots to do.
@ 😆 to the extent you are right, because if they live near they will always say they live in Boston, my sister lives in Dorchester, uncles, in Roxbury, Chelsea, Randolph. They do say they live in Boston whenever they wonder when I’m coming to Boston.
This video assumes you are MOVING to these states to retire. Yes, these Dem states are expensive, but the incomes are higher and the standards of living are better than, say, cheaper rural Oklahoma. Nothing wrong with cheap states, but they’re cheaper for a reason. Beautiful coastal states are more expensive? Shocker. People who have made long careers and lives in expensive states can probably retire there. I live in one of these “10 states” and my costs are 1/2 of what is presented here. Half. And I still have a mortgage. Could I MOVE here? Maybe not. Could I CONTINUE here? Yes. And enjoy it.
Interesting list. I'm beginning to think it may be better to retire in another country and have started my research. Here in Florida, I see so many seniors move here and regret it, but the disappearing cost of living advantage here has left them trapped.
Yes Republicans have ruined the state of Florida for everyone, especially retirees! What Republicans are trying to do to every state, but we won't let them!!
@@mikedaleiden7725 There are many great small communities in the US that seniors would love to live in. Seniors need to do their research and find out where these communities are located in each state. I think too often that seniors tend to trend towards areas that are favorites for a long time of seniors. We thought we would do that but instead we bought land in Hawaii and built a small home out of pocket during much of the work ourselves. Now I hear often enough how expensive Hawaii is but living in a small community we live and shop like the locals and if you know how to do this and the fact that the foods grown locally are really cheap. Seniors should assess what it is that want to be doing retired, their finances and how much they can do for themselves. I like living in family oriented communities Before a big move to their dream place seniors should rent and not buy so you can pull the plug if you are not happy in your new home.
I think you should change the title of your video. Yes, there are facts in what you say, but you also need to consider all the other factors that contribute to higher cost of living. What I think is that the citizens must push Congress to pass a law to stop taxing the retirees! We already paid taxes while working hard for years!
Best place to retire comfortably is to go to another country with a good healthcare system and a lower cost of living. There are many amazing places to choose from.
I've lived on Oahu my entire life (67), and what's in this video is NO exaggeration. My parents generation used to lament out loud that Hawaii is turning into a "rich man's paradise", and they weren't wrong! I really didn't want to have to leave here to live comfortably in retirement, but it seems that I have no choice.
My grandma left the Philippines in the mid 1900s at five years old and raised in Hawaii. Later in life she married and had six children and widowed. She worked 3 jobs to support her children. Life wasn't easy and good paying opportunities for people of color was not in reach. She transferred her job from Pearl Harbor to McClellan AFB CA. The last time my Dad went back to Hawaii he was very sad and said it doesn't feel like my homeland anymore. The high rise buildings, traffic, overpopulation and most importantly unaffordable. He said it was ruined and you can figure out why he said that. He never went back.
Bought house in a small town in central NJ in 1997. population 8000. It’s a Ranch home, 3 bedroom, one bath, about 1100 s/f. Paid 132,000 with property taxes at $2800. Taxes increased approximately $300 a year and are now just under 10k. Yet oddly, there are a huge amount of over 55 retirement communities in NJ.
I’ve lived in Hawaii for 30 years. Yes it is very expensive. Hawaii doesn’t tax pensions or social security otherwise he’s right on the money. The price of paradise.
The government taxes is breaking many families and making them go on the street. Property taxes, sales taxes, inheritances taxes, etc etc. The money you have left to save is not there. Barely making it to survive!
Property taxes should be illegal!! Homeowners should pay tax when she/he buys the property and at the time of selling it! Not to Pay monthly just like another mortgage! I'm asking Congress and the president yo remove these illegal taxes for homeowners!
In northern Illinois, I pay 7,000 a year for 3 acres and a 3 bedroom house. Of course property taxes go up every year... The only good thing I can say about where I live at least I got my house for free when my mother died. There was no inheritance tax.
Try South Africa. My husband just died. I was paid out a small lump sum pension. And live 50% of pension. The estate lawyers demanded 3/4 of my pension pay out. 99% of lawyers are corrupt. After 40 years in our old house rates and taxes are 400% higher than the price we paid for it. I agree retirees and especially when your spouse dies you are surrounded by vultures and bullies
The best option is to retire abroad. The US has become less and less affordable over the years for a retiree. I retired to Panama 25 years ago. I am happy with my choice
@@genedios4473we did. Going back to USA before inauguration, afraid borders may close and we have an old dog that can only travel by ground…😢 Most people that try to retire abroad return within 5 years, and it is wayyyy more expensive than they portray it online. Can’t live on 1500 or 2000 a month like they say online. You get scammed left and right for being a gringo.
@@robertgillies9382 why leave this wonderful country? I had an opportunity to do that years ago. Game of thrones retirement plan and she was filthy rich 🤑. Extremely accommodating and nice. And I said no. I would not leave the United States on a permanent basis. I guess you can move to foreign state like Arkansas 🤣🤣
I’m planning on retiring in 22 months! I’ve lived in NJ my whole life. We already built a house in SC in the Myrtle Beach area. The property taxes here are absurd , along with the car insurance! Food and gas are comparable in both states. My NJ house is on a 35’x100’ lot and our property taxes are over $9000! In SC we have a half acre and will pay about $1000😳
We retired from Boston to Phoenix and immediately saved about $11,000 a year. Now we're Tennessee residents and saved another $3,000 a year while traveling the country in our RV for a few years. Unfortunately, we can't afford to build or buy a home near Knoxville now... the average price is over $600k for a BASIC home... pathetic!
I used to work in Waltham, MA and travel from Fitchburg everyday for 12 years until I was terminated from job at the age of 40. I learn that being Unemployed for 2 years is a living hell with utility bills and mortgage alone plus car insurance will drain your 401K and lifetime saving. There is no BS that no one want to hire Engineer that older than 40 and the taxes alone is much higher than your Unemployment Check with Saving and social security and pension put together.
We were lucky enough to sell our home and business for outrageous amounts in California back in 2023. Then smart enough to move to Pennsylvania and pay cash for a house that would have easily cost over a million dollars in California. I love everything about PA - the people, the lack of traffic, even the snow!
Been in Hawaii for 34 years and still enjoying it . The key is home ownership. Some years houses go up $200K in one year!!! And we have the best weather on planet earth
First, I appreciate and like your video. You were incorrect on Illinois. For all of its faults,…..and it has many…Illinois does NOT tax retirement income of any kind. It’s zero % tax on all IRA’s, 401K, social security, and pension.
So Illinois DOES NOT tax pensions and retirement income of any kind. So that makes the property taxes more tolerable when compared to places that do tax retirement income sources. No tax on SS,no taxes on IRA distributions,RMD's etc
Not true, if you make over a certain amount or withdraw from your IRA's you will be taxed. ANY income worked as a retiree is taxed. Some states will only tax working retirees after a certain amount is made but IL taxes EVERY dollar you make working as a retiree. No breaks on property taxes, no breaks on any taxes whereas some stated don't tax retirees as much for necessary purchases and expenses.
Vancouverite here; don't forget high property taxes and the most expensive gasoline in the country. On a recent trip to Tucson, AZ I was shocked at how cheap food was there; I didn't realize I was being ripped off there as well.
In Illinois, retirement income is not taxed on Illinois income tax.That includes 401k withholding, IRA withdrawals, Pensions and Social Security. Most retirees pay no state income tax.
I've lived in NJ for 25 years; I live reasonably, and don't pay anywhere near what he's claiming the expenses are. Don't get me wrong, it isn't "cheap", but neither is it anywhere near what this video says.
As a retired person I would only retire in a warm place since I lived in Buffalo boston long island new york city. No more winter for me. Only a cash buyer. But not happy living in a red state. Living in Dunedin Florida. Don't drive. But it is walkable. And I can travel. Got to have a pension. And central air. 😊 😊😊
Rent of $1600 for a one bedroom in Maryland is a bargain. In New York City you can't get a studio apartment for under $2500. Have to wonder what the government is doing with all the money they're collecting.
@@nancygawlowicz2562 I’m a native New Yorker, the $2500 for a studio apt that you mentioned, I don’t think that is not even in Manhattan! I think my taxes are going to the migrants because we are a sanctuary city, not even to our own veterans!
@@bxw2721 First of all you are inaccurate. Being a sanctuary city DOES NOT mean that the state is hiding people. What it means is they will not allow the Federal Government to co-opt their police, schools and public buildings for the FEDS. For NYC, the only reason you have any migrants is because they are being shipped there by Texas. Funny people usually dont give a shit about veterans except in comments like this.
Some of these states sound very much like Florida. But most homes pay $7000/$8000 for home insurance alone in Florida. How could it not make the top ten?
You couldn’t be MORE WRONG on Illinois!!! Illinois. Illinois charges a flat state income tax of 4.95 percent, but all retirement income is exempt from paying the tax. This includes pension payments as well as distributions from retirement plans such as 401(k)s and IRAs. Social Security payments are also exempt.
In short, with property taxes, and taxes on your car, EVERY time it sells, and death taxes, and inflation, and taxes on your money when you get it, and taxes on everything you buy when you spend your money, your money is only about 40 cents to the dollar, govt gets the rest
You have pointed out something VERY IMPORTANT. Government is too expensive. Most people don't know how expensive. Workers support city (local) government, county government, state government, federal government, special district government.
I live in IL. It is one of the few states that does not tax retirement income so this video is incorrect. Illinois charges a flat state income tax of 4.95 percent, but all retirement income is exempt from paying the tax. This includes pension payments as well as distributions from retirement plans such as 401(k)s and IRAs. Social Security payments are also exempt
I retired and moved to Oregon. They tax retirement income (I have a pension) 9.6% tax on any retirement income. After a year I moved to Washington state to avoid paying Oregon’s taxes. Saved a lot of money.
At least SOMEONE Besides me knows the truth about Oregon! I am happy you got to move out of it. I lived in Oregon ALL MY LIFE & I UNFORTUNATELY STILL LIVE THERE. And it is not just the High Taxes that make them VERY BAD! They get WAY TOO MUCH RAIN & the people are so rude, selfish, careless, clueless, dishonest & disrespectful & they outlaw stuff that is important and make make into law to do stuff that is wrong. And I would move out of it too if I had that kind of money. There is only one plus I admit about Oregon! There is no Sales Tax there. But that is the ONLY PLUS ABOUT THEM. I wish many people in my family would be smart and want to move out of that TOXIC STATE OF OREGON like you chose to do! That would’ve Solved SO MANY PROBLEMS for me having to deal with all the bad aside the Taxes. I am not retired like those they are talking about on this video. But I understand how they feel regardless!
My life at 73 was a lot different than the lives the new generations have to contend with ! I consider my time as a baby boomer as the luckiest generation , bar none ! Much of what you say confirms my thoughts ! I have lived in SC since 1960 ! I love my state and its people ! ❤️
I'm a tail-end Baby Boomer so I got hit with the hellish decade and high inflation of the 1970s, the large social security and Medicare tax hikes of the 1980s, double-digit interest rates for the major items of living, and the peak years of the Cold War. There was one thing I was truly grateful for: the Cold War didn't reach its blowoff stage.
Yeah, I was indeed wondering what had happened to his list, not having a reserved parking position for New York ! My car was jailed. A fellow from a foreign country given a free ride in it wondered what was being kept in the glove compartment so he opened it, curious about what Americans kept in a car. An avalanche of parking tickets fell out ! What do you think he had said ? 😂 You (Americans) collect parking tickets ?
@@Davido50 Upstate NY can be very beautiful at times. I was reading the Chinese edition of the Readers' Digest(R) in Hong Kong so I saw the gorgeous photographs of the Readers' Digest headquarters in Pleasantville, NY. In the fall at the right time, the leaves 🍂🍁 splash everywhere with magnificent colors. Upstate NY living needs one to have a dependable source of income (such as a pension) and tolerance of inland continental-climate rural living (without *PHYSICAL* access to great institutions of the City). NYC has better weather than upstate NY because of the Gulf Stream bringing warm water, even in frigid wintertime. That doesn't happen for upstate NY.
I spent a Summer in Brattleboro awhile back. Culture shock for a Californian, for sure. The town was made up primarily of trust fund babies and people with substance use disorder. I can't remember ever being in a place less racially diverse; in 10 weeks I met/saw only a dozen non-white people, and 5 of those were one family at Walmart, which was across the bridge, so technically in New Hampshire 😂 The land itself is breathtaking, though.
@@DMBVR4from AARP - " Illinois doesn't tax pension distributions or retirement plan income, including from IRAs, 401(k) plans and government retirement plans. AARP's Retirement Calculator can help you determine if you are saving enough to retire when - and how - you want."
As a California retiree, let me point out four things not mentioned in this video. (1) States that are more expensive for retirees generally pay workers more and also have higher taxes, so much better infrastructure. This means that if you worked in the state, the prices will just be the normal prices you always paid. Also, your various fees and payouts to private service providers may be substantially less than in states with lower taxes. (2) Retirement accounts are tax deferred, so you got out of paying taxes when you put money in, and now you have to pay when you take it out, generally at a lower tax rate due to reduced income levels. This should come as a surprise to no one. (3) States are diverse, which means that prices vary from place to place within states as much or more than they do between states. You can easily trade off location for housing quality, and either spend much more or much less. (4) It costs a lot of money and angst to move, so pulling up stakes to move from a more expensive state to a less expensive one may not, on balance, provide as much benefit as you think it will.
I lived in L.A for over a decade. Their roads etc are absolute shit. We moved to GA and you can't believe how much better all of the infrastructure is here. It's not even close.
Being retired and owning my own home in Texas is like paying a monthly rent to live here. You will pay at least 300.00 - 800.00 per month property taxes if you own your home free and clear. If you have a mortgage very little goes towards the principle each month. We voted last March 2024 primary to eliminate any and all property taxes but when we got to the November elections it was not on the ballot but we voted in the primary for it to be on the ballot. Texas sucks for retired people and most people who cannot afford a home or lost it live in RV parks. Welcome to the Lone Star State where the rich get richer and the poor get poorer.
Im staying in beautiful Upper Midwest region. 4 mild seasons, great scenery, ppl , top notch healthcare & decent cost of living (tho nowhere worth living is cheap). Orig from Northeast ..prob most costly place to live along w/CA nowadays. Upper Midwest has all they have & more w/ less congestion. My company of 30yrs brought me out here. Best move i ever made! 🙏🏻
Starting with: #10- ALASKA #9 - VERMONT #8- ILLINOIS #7- MARYLAND #6- CONNECTICUT #5- NEW JERSEY #4- OREGON #3- MASSACHUSETTES #2- CALIFORNIA Housing $ 904,000 1 Bedroom $ 2700 month Taxes 13.3% Car Ins $2,100 annually To live comfortably you'll need $148,000 #1- HAWAII - Housing $800,000 avg. Rent 1 Bedroom $2100 month Car ins $1,600 annually To live comfortably you'll need $176,000 year.
Illinois won’t tax distributions from most pensions and 401(k) plans, or from IRAs and Social Security payouts. That part of this video is in error. I live in Illinois and the property tax is brutal, but they don't "come for all of your retirement income".
AK and HI are understandable. Everything has to be shipped in. That is going to raise prices. I love visiting AK but I can’t see living there no matter what the cost is. Way too cold for old people (me).
Take this with a grain of salt. In more expensive states incomes tend to be higher thus retirement income. Plus this tends to quote population centers. Costs like parking isn't generally much if at all in lesser population areas. However you will generally get the necessary medical care that will occur as you age in more metro areas and that's not always available in cheaper more rural areas. There will be tradeoffs no matter where you retire and the cheaper costs don't always balance the scale.
Housing is the most expensive in America, however one can learn to live simple. I am born and raised in the islands and retired military. I see people struggling because they have champagne taste on an ice water budget. On my social security and military pension, my wife and I live well. BE SMART NOT SPOILED AND STUPID.
Taxing SS benefits should be prohibited.
@@LaurenceDay-d2p That's why they should end the federal tax on social security benefits.
Agreed!
Yes, they should
Right! BUT, alas, they have Fire Spitting Bradleys.
@@LaurenceDay-d2p You can thank Biden for that.
Illinois DOES NOT tax any form of retirement income as you have stated. Pension, social security, IRA and 401k are all exempt from Illinois State taxes. It's important to get these statements correct as it calls into question your statements on other States and issues.
Baby boomer here. The life and dreams coming true in America are gone. Crocked. Politicians and just plain greed are to blame.
We need a Monarchy. "Yet have I set my king upon my holy hill of Zion" (Psalm 2:6, KJV). Praise God, the Lord Jesus Christ shall keep His covenant with Israel.
we do not need a monarchy, of this world
@@davidlafleche1142 WOW, you’re CRAZY!!!
@@carollynnberwindscheffler398 your generation as well.
I blame "ALL POLITICIANS", ALL PARTIES.
Alaska, Vermont, Illinois, Maryland, Connecticut, New Jersey, Oregon, Portland, California and Hawaii
Thank you
Going by this video, all retirees would benefit by moving to Louisianna, Mississippi, W. Virginia, Arkansas, N. Dakota, etc. Basically, move to a place where no one in their right mind would ever want to live.
Nailed it.........
Ray Ramano is doing videos to help seniors! What a guy! 😎
10 Alaska
9 Vermont
8 Illinois
7 Maryland
6 Connecticut
5 New Jersey
4 Oregon
3 Massachusetts
2 California
1 Hawaii
thanks so much for this. Ohio i live nice on my retirement.
@rachelharriscreative thanks for the listing!
Thanks for list.
Thank you.
Reading is so much faster & better.
It’ll keep getting worse if the people don’t stand up against the government and corporations. At some point Americans are going to have to grow a spine.
You got it exactly right, it's coming!
both parties
YOU FORGOT FLORIDA, where you will be paying $ 20,000 for Homeowners, and another $ 20,000 for property taxes, for a house that no longer exists because the latest hurricane washed it away...
Sorry to hear that
@@Hirogen24 I only lasted about 6 months in FL… But it was those bugs… 24/7 those bugs!
@@Hirogen24 Car In$$$$$$urance
Where in Florida are taxes 20k?
Miami?
"Washed Away" No pay for Away.
Retirement is more personal than financial. Most people stay where family is.
@ 18:14 "..good luck finding a [parking] spot in downtown..." while showing a parking lot full of empty spaces
Most retirees own their home outright, so only pay property taxes and maintenance costs. And even in states with apparently high taxes, a lot of your money is exempt due to the personal deduction. Also assessed value for property taxes are not the same as market value. Market value is normally much higher. This video distorts the actual cost of living.
And it's no wonder why America has so many homeless 😡😡😡😡
93% are DRUG ADDICTS, and the rest have ZERO education.
@Tryp-j9d ...
Not only because of that. Get your facts straight up. I would rather not said why. Trump is making things worse now
@@Bxklyn260villefacts project 2025 sucks period and is dangerous for anyone who is not rich
Exactly how has Trump made retirement harder? He has not even taken office or had a chance to implement policies.
@@UnknownMoses he sucks period he's a felon what part you don't understand enlighten me
World has lost sight of what is important to success as humans 😢
Absolutely 👍🏻
All these politicians think about is taxes, I think enough is enough.
I agree with you Michael, but I would go further and say we have been at too much is too much for several years now. We are past enough is enough. People need to write a petition letter and send them to their congressmen.
I had retired from Silicon Valley where the price of a burger can be as high as $18. So I move to Lodi, California where houses are ½ the price and twice the size.
At the invitation of a friend, I visited Malaysia and I was blown away by the hospitality of the people. Being a British colony before, most people speak very good English. Foreigners are welcome here.
Most importantly of all, I found out that I can live here like lord for as little as $1000 per month. Am considering moving here. No drug problem, no guns and no violent crimes like the the ones we have in SF, LA or NY
A friend of mine is looking at retiring to Thailand for the same reason. He can actually live on what he gets for SS.
Untrue info on Illinois. They don’t tax retirement income at all! IRA, SS, pensions or government retirement. Get your facts straight.
Upper Midwest region has turned into 1 of best places to retire. Ann Arbor, MI for example rates top3 best places to live every year. Expensive place but..30min outside is more affordable & just as nice w/less congestion. Same w/ Columbus, OH for example. Just got 2 new semi conductor facilities there so real estate prices goin way up but 30min outside city & burbs are quant small twns that are pretty & quite affordable.
The level of governmental greed never ceases to surprise me
Just to make a point, California is not just LA and SF. There are other more affordable places to live in the state.
The American dream was just that, “A Dream” because you worked your butt off, long hard hours, 35 years and something 40 years. Now, that you, finally, retired but still have to pay federal taxes, social security taxes, Medicare deductible and so many other taxes. You realize that you were played for a fool. Even, some of our retired senior citizens, including women, are living out of their cars because they cannot afford housing expenses.
Let's be honest with one another, Who would of ever thought in our lifetime we be seeing and paying all these out of control prices, When these are the last of our years we should be enjoying our lifes, Yes some say its the red states and some say its the blue states, And I say it's the red white and blue states and their all responsible for this big mess along with Washington DC. Funny how these politicians go in with nothing come out with lottery tickets worth millions today, And y'all want to know why we're in the shape we're in, 36 Trillion And Counting, I work all my life to pay everyone else's bills seems like anymore but my own.
Wisconsin, the property taxes are now insane. 8K a year to get some street plowing on my block is an outrage - the schools are getting worse and roads are potholed to hell.
I just love how everyone in this country thinks Boston is all of Massachusetts.
@@chuckgranger9777 Same about Chicago and Illinois. Kind of misleading.
@@chuckgranger9777 I don’t think that everyone thinks Boston is whole MA. It’s just that when one say, Boston it stands out for its name to represent MA, least I hope that’s how people imagine Boston. MA is beautiful 😻 it is expensive like everywhere else there’s good and bad everywhere. Ma is known for its quality of life, healthcare, and education. If you can afford to live here there is many quiet and beautiful areas and with a lots to do.
@ Even Massachusetts thinks Boston is all of Mass, the western part is a side note.
@ 😆 to the extent you are right, because if they live near they will always say they live in Boston, my sister lives in Dorchester, uncles, in Roxbury, Chelsea, Randolph. They do say they live in Boston whenever they wonder when I’m coming to Boston.
10. Alaska
9. Vermont
8. Illinois
7. Maryland
6. Connecticut
5. New Jersey
4. Oregon
3. Massachusetts
2. California
1. Hawaii
Came here looking for this, thanks!
Finally, a quick ref list instead of a half hour monologue. Thank you!
Thank You!!!! Kinda thought this would be in the comments.
This video assumes you are MOVING to these states to retire. Yes, these Dem states are expensive, but the incomes are higher and the standards of living are better than, say, cheaper rural Oklahoma. Nothing wrong with cheap states, but they’re cheaper for a reason. Beautiful coastal states are more expensive? Shocker.
People who have made long careers and lives in expensive states can probably retire there. I live in one of these “10 states” and my costs are 1/2 of what is presented here. Half. And I still have a mortgage.
Could I MOVE here? Maybe not. Could I CONTINUE here? Yes. And enjoy it.
I moved from Los Angeles. I got a bill to register my covette in California, it was $1,880 for 2 years, and in New Mexico it was $125 for 2 years.
Good ole Gavin in your pockets...sheesh!!
One of the best sights I've ever seen was California in my rearview mirror 7 years ago.
Interesting list. I'm beginning to think it may be better to retire in another country and have started my research. Here in Florida, I see so many seniors move here and regret it, but the disappearing cost of living advantage here has left them trapped.
Lots of folks have dine just that....FL has lots of retirees migrating out
Yes Republicans have ruined the state of Florida for everyone, especially retirees! What Republicans are trying to do to every state, but we won't let them!!
@@mikedaleiden7725 There are many great small communities in the US that seniors would love to live in. Seniors need to do their research and find out where these communities are located in each state. I think too often that seniors tend to trend towards areas that are favorites for a long time of seniors. We thought we would do that but instead we bought land in Hawaii and built a small home out of pocket during much of the work ourselves. Now I hear often enough how expensive Hawaii is but living in a small community we live and shop like the locals and if you know how to do this and the fact that the foods grown locally are really cheap. Seniors should assess what it is that want to be doing retired, their finances and how much they can do for themselves. I like living in family oriented communities Before a big move to their dream place seniors should rent and not buy so you can pull the plug if you are not happy in your new home.
I think you should change the title of your video.
Yes, there are facts in what you say, but you also need to consider all the other factors that contribute to higher cost of living.
What I think is that the citizens must push Congress to pass a law to stop taxing the retirees!
We already paid taxes while working hard for years!
I can't even afford to vacation in Hawaii much less retire there😅
I don't think $300,000 -$400,000 is a baargain for real estate.
Didn't we revolt against outrageous taxes to begin with ? We traded a king for greedy oligarchs !
Best place to retire comfortably is to go to another country with a good healthcare system and a lower cost of living. There are many amazing places to choose from.
I've lived on Oahu my entire life (67), and what's in this video is NO exaggeration. My parents generation used to lament out loud that Hawaii is turning into a "rich man's paradise", and they weren't wrong! I really didn't want to have to leave here to live comfortably in retirement, but it seems that I have no choice.
Priced out of Paradise...yup.
My grandma left the Philippines in the mid 1900s at five years old and raised in Hawaii. Later in life she married and had six children and widowed. She worked 3 jobs to support her children. Life wasn't easy and good paying opportunities for people of color was not in reach. She transferred her job from Pearl Harbor to McClellan AFB CA. The last time my Dad went back to Hawaii he was very sad and said it doesn't feel like my homeland anymore. The high rise buildings, traffic, overpopulation and most importantly unaffordable. He said it was ruined and you can figure out why he said that. He never went back.
Bought house in a small town in central NJ in 1997. population 8000. It’s a Ranch home, 3 bedroom, one bath, about 1100 s/f. Paid 132,000 with property taxes at $2800. Taxes increased approximately $300 a year and are now just under 10k.
Yet oddly, there are a huge amount of over 55 retirement communities in NJ.
In NJ, you are LUCKY if you're only paying $12k/yr property taxes.
I’ve lived in Hawaii for 30 years. Yes it is very expensive. Hawaii doesn’t tax pensions or social security otherwise he’s right on the money. The price of paradise.
The government taxes is breaking many families and making them go on the street. Property taxes, sales taxes, inheritances taxes, etc etc. The money you have left to save is not there. Barely making it to survive!
That’s a feature not a bug.
No real surprises on this list. Very well done 👍✅
I love your commentary!! You sure make it enjoyable to watch your video.
Property taxes should be illegal!! Homeowners should pay tax when she/he buys the property and at the time of selling it! Not to Pay monthly just like another mortgage!
I'm asking Congress and the president yo remove these illegal taxes for homeowners!
@@CatherineKimaryo agreed
Living in Hawaii when you make $130,000 is hard. I can’t imagine retiring here. My husband and I will be headed back to the mainland for retirement.
FYI. Hawaii doesn't tax private pensions or Social Security
In New York, I pay just over $11,000. a year in property taxes! Thanks for nothing, New York.
What is your property value accessed at?
and state tax and corp tax and the cost of living is c r a z y y y ..
Illinois doesn't tax retirement income.
In northern Illinois, I pay 7,000 a year for 3 acres and a 3 bedroom house. Of course property taxes go up every year... The only good thing I can say about where I live at least I got my house for free when my mother died. There was no inheritance tax.
Try South Africa. My husband just died. I was paid out a small lump sum pension. And live 50% of pension. The estate lawyers demanded 3/4 of my pension pay out. 99% of lawyers are corrupt. After 40 years in our old house rates and taxes are 400% higher than the price we paid for it.
I agree retirees and especially when your spouse dies you are surrounded by vultures and bullies
The best option is to retire abroad. The US has become less and less affordable over the years for a retiree. I retired to Panama 25 years ago. I am happy with my choice
@@robertgillies9382 have you spent time in Mexico? Wondering how you would comepare the two.
We tried too, but it didn’t work for us. Most people return back home within 5 yrs abroad. It’s not so easy…
@@genedios4473we did. Going back to USA before inauguration, afraid borders may close and we have an old dog that can only travel by ground…😢
Most people that try to retire abroad return within 5 years, and it is wayyyy more expensive than they portray it online. Can’t live on 1500 or 2000 a month like they say online. You get scammed left and right for being a gringo.
Nah plenty great places still in US..just stay off the coasts. 💯
@@robertgillies9382 why leave this wonderful country? I had an opportunity to do that years ago. Game of thrones retirement plan and she was filthy rich 🤑. Extremely accommodating and nice. And I said no. I would not leave the United States on a permanent basis. I guess you can move to foreign state like Arkansas 🤣🤣
I’m planning on retiring in 22 months! I’ve lived in NJ my whole life. We already built a house in SC in the Myrtle Beach area. The property taxes here are absurd , along with the car insurance! Food and gas are comparable in both states. My NJ house is on a 35’x100’ lot and our property taxes are over $9000! In SC we have a half acre and will pay about $1000😳
Awesome.....Welcome
States? The US government taxes my social security payment that I have already paid taxes on.
If you are making enough in retirement to get your SS taxed you have no complaints.
@@johnwest7993 ?
Trump says no taxes on SS. Stay tuned!
@@johnwest7993- no income . Sold my house to retire.
@@PopCornSheffield-ow4vm yes because he is coming after your social security. There will be none to tax.
We retired from Boston to Phoenix and immediately saved about $11,000 a year. Now we're Tennessee residents and saved another $3,000 a year while traveling the country in our RV for a few years. Unfortunately, we can't afford to build or buy a home near Knoxville now... the average price is over $600k for a BASIC home... pathetic!
Ummm, we’re retired just outside Chicago and are doing Ok on $50k a year. Not sure where you got $90k
Glad to hear that
@@RetirementLifeUSA
Why are you saying illinois taxes retirement income? That's a lie
Retirement? Are you kidding?...New York should be in this list tool. Even people who are still employed areP actually leaving all these states
I used to work in Waltham, MA and travel from Fitchburg everyday for 12 years until I was terminated from job at the age of 40. I learn that being Unemployed for 2 years is a living hell with utility bills and mortgage alone plus car insurance will drain your 401K and lifetime saving. There is no BS that no one want to hire Engineer that older than 40 and the taxes alone is much higher than your Unemployment Check with Saving and social security and pension put together.
@@johnmadow5331 a system designed for extermination of excellent citizens
We were lucky enough to sell our home and business for outrageous amounts in California back in 2023. Then smart enough to move to Pennsylvania and pay cash for a house that would have easily cost over a million dollars in California. I love everything about PA - the people, the lack of traffic, even the snow!
Where in Pa?
@@jacoblecoy3700 Near Altoona! It's truly amazing here!
Been in Hawaii for 34 years and still enjoying it .
The key is home ownership.
Some years houses go up $200K in one year!!!
And we have the best weather on planet earth
Illinois sucks for many reasons, but It does not tax retirement or Social Security.
First, I appreciate and like your video. You were incorrect on Illinois. For all of its faults,…..and it has many…Illinois does NOT tax retirement income of any kind. It’s zero % tax on all IRA’s, 401K, social security, and pension.
We are all taxed to death for the money to be pissed away 😤
@@jayhadcock8767 Sad, but true. I think the Estate Tax is a huge ripoff, bc everything in your Estate has already been taxed. 🤦🏼♀️
I live in Illinois and while property taxes are through the roof, currently my teachers’ pension and social security is not taxed by the state.
Yet....
It's all about greed that is what that is people. Government geed..
Cut city tax , county tax , state tax , gas tax , property tax !
And especially Federal tax, in my opinion!
@@bradleymoran8353 cell phone bills loaded with taxes.
So Illinois DOES NOT tax pensions and retirement income of any kind. So that makes the property taxes more tolerable when compared to places that do tax retirement income sources. No tax on SS,no taxes on IRA distributions,RMD's etc
Yes, Illinois is one of only a handful of states that do NOT tax retirement income.
Sorry, SS will be taxed if other income is at a certain level...
Not true, if you make over a certain amount or withdraw from your IRA's you will be taxed. ANY income worked as a retiree is taxed. Some states will only tax working retirees after a certain amount is made but IL taxes EVERY dollar you make working as a retiree. No breaks on property taxes, no breaks on any taxes whereas some stated don't tax retirees as much for necessary purchases and expenses.
@@krisone63
Not true property tax has a 65 freeze
And income is taxed but not retirement income
You missed one Washington! house prices in Seattle is over $800,000 just to start!
Vancouverite here; don't forget high property taxes and the most expensive gasoline in the country. On a recent trip to Tucson, AZ I was shocked at how cheap food was there; I didn't realize I was being ripped off there as well.
In Illinois, retirement income is not taxed on Illinois income tax.That includes 401k withholding, IRA withdrawals, Pensions and Social Security. Most retirees pay no state income tax.
Now we know why barney sanders can afford so many houses up there
I've lived in NJ for 25 years; I live reasonably, and don't pay anywhere near what he's claiming the expenses are. Don't get me wrong, it isn't "cheap", but neither is it anywhere near what this video says.
As a retired person I would only retire in a warm place since I lived in Buffalo boston long island new york city. No more winter for me. Only a cash buyer. But not happy living in a red state. Living in Dunedin Florida. Don't drive. But it is walkable. And I can travel. Got to have a pension. And central air. 😊 😊😊
Nice!
Rent of $1600 for a one bedroom in Maryland is a bargain. In New York City you can't get a studio apartment for under $2500. Have to wonder what the government is doing with all the money they're collecting.
@@nancygawlowicz2562 I’m a native New Yorker, the $2500 for a studio apt that you mentioned, I don’t think that is not even in Manhattan! I think my taxes are going to the migrants because we are a sanctuary city, not even to our own veterans!
@@bxw2721 First of all you are inaccurate. Being a sanctuary city DOES NOT mean that the state is hiding people. What it means is they will not allow the Federal Government to co-opt their police, schools and public buildings for the FEDS. For NYC, the only reason you have any migrants is because they are being shipped there by Texas. Funny people usually dont give a shit about veterans except in comments like this.
@@nancygawlowicz2562 a lot of unnecessary bullshit and also the interest on debt too.
Some of these states sound very much like Florida. But most homes pay $7000/$8000 for home insurance alone in Florida. How could it not make the top ten?
@@philipdefrancisco7540 pay your house off and you can cut out insurance…
So many beautiful places around the world to retire in, I live in Florida and will still pack and leave. The US is too expensive for retirees.
Lots of folks feel the same way
@Bsurfing
Bye Felicia...
You couldn’t be MORE WRONG on Illinois!!!
Illinois. Illinois charges a flat state income tax of 4.95 percent, but all retirement income is exempt from paying the tax. This includes pension payments as well as distributions from retirement plans such as 401(k)s and IRAs. Social Security payments are also exempt.
Two left. All are democratic states with millionares(now) for governors.
I just want to say that there's an entire state outside of Chicago...not many people realize that but I promise it's true😂😂
We need to do some of these problems. I live in California and my rent is 3000k and a one bedroom runs about 1800
You know you're old when you're calling people Spanky. One of my favorite shows as a kid. Little Rascals.
In short, with property taxes, and taxes on your car, EVERY time it sells, and death taxes, and inflation, and taxes on your money when you get it, and taxes on everything you buy when you spend your money, your money is only about 40 cents to the dollar, govt gets the rest
You have pointed out something VERY IMPORTANT. Government is too expensive. Most people don't know how expensive. Workers support city (local) government, county government, state government, federal government, special district government.
Are these cost of living expenses including the price of housing ? I think if you haven’t paid off your house you shouldn’t retire in any state.
I live in IL. It is one of the few states that does not tax retirement income so this video is incorrect. Illinois charges a flat state income tax of 4.95 percent, but all retirement income is exempt from paying the tax. This includes pension payments as well as distributions from retirement plans such as 401(k)s and IRAs. Social Security payments are also exempt
Not sure about social security being exemp
@@juliemanarin4127it is
@@juliemanarin4127 it’s definitely exempt from state tax in IL
@@juliemanarin4127
All retirement income is state income tax exempt in illinos
Can't believe washington not in there.😮
Or New York
I left CA and I do not regret it!
I retired and moved to Oregon. They tax retirement income (I have a pension) 9.6% tax on any retirement income. After a year I moved to Washington state to avoid paying Oregon’s taxes. Saved a lot of money.
At least SOMEONE Besides me knows the truth about Oregon! I am happy you got to move out of it. I lived in Oregon ALL MY LIFE & I UNFORTUNATELY STILL LIVE THERE. And it is not just the High Taxes that make them VERY BAD! They get WAY TOO MUCH RAIN & the people are so rude, selfish, careless, clueless, dishonest & disrespectful & they outlaw stuff that is important and make make into law to do stuff that is wrong. And I would move out of it too if I had that kind of money. There is only one plus I admit about Oregon! There is no Sales Tax there. But that is the ONLY PLUS ABOUT THEM. I wish many people in my family would be smart and want to move out of that TOXIC STATE OF OREGON like you chose to do! That would’ve Solved SO MANY PROBLEMS for me having to deal with all the bad aside the Taxes. I am not retired like those they are talking about on this video. But I understand how they feel regardless!
I am shocked that New York and Rhode Island are both not on the list!
@@jasonrandom372 New York doesn’t want it’s pensioners to leave to other states , spending their pensions elsewhere, but they still do ✌🏼
They're probably #11 & 12.
My life at 73 was a lot different than the lives the new generations have to contend with !
I consider my time as a baby boomer as the luckiest generation , bar none !
Much of what you say confirms my thoughts !
I have lived in SC since 1960 ! I love my state and its people ! ❤️
@@hotchihuahua1546 rest assured the Boomers came through America at the right time…hit the peak of American life
Totally agree. Including S.C.
I'm a tail-end Baby Boomer so I got hit with the hellish decade and high inflation of the 1970s, the large social security and Medicare tax hikes of the 1980s, double-digit interest rates for the major items of living, and the peak years of the Cold War.
There was one thing I was truly grateful for: the Cold War didn't reach its blowoff stage.
Property taxes should be exempt for seniors. Mine are more than one months SS even after a senior discount.
I retired in the Phillipines my 2 bedroom condo next to the beach is 140 USD a month electric with ac 100 a month water 6 bucks food 200 a month
What part of the Philippines? Is it safe there?
@amberrose1108 Cebu is it safe in the U.S.
This video is full of baloney on SO many things, but unfortunately I'm sure there are many people who never question it.
No New York? The vampire state sucks me dry.
Yeah, I was indeed wondering what had happened to his list, not having a reserved parking position for New York !
My car was jailed. A fellow from a foreign country given a free ride in it wondered what was being kept in the glove compartment so he opened it, curious about what Americans kept in a car. An avalanche of parking tickets fell out !
What do you think he had said ? 😂
You (Americans) collect parking tickets ?
Love NY state though! ❤️ 🇺🇸
@@Davido50
Upstate NY can be very beautiful at times. I was reading the Chinese edition of the Readers' Digest(R) in Hong Kong so I saw the gorgeous photographs of the Readers' Digest headquarters in Pleasantville, NY. In the fall at the right time, the leaves 🍂🍁 splash everywhere with magnificent colors.
Upstate NY living needs one to have a dependable source of income (such as a pension) and tolerance of inland continental-climate rural living (without *PHYSICAL* access to great institutions of the City). NYC has better weather than upstate NY because of the Gulf Stream bringing warm water, even in frigid wintertime. That doesn't happen for upstate NY.
I'm an expat Vermonter. it's so stupid how much housing is for a state with no economy.
I spent a Summer in Brattleboro awhile back. Culture shock for a Californian, for sure.
The town was made up primarily of trust fund babies and people with substance use disorder. I can't remember ever being in a place less racially diverse; in 10 weeks I met/saw only a dozen non-white people, and 5 of those were one family at Walmart, which was across the bridge, so technically in New Hampshire 😂
The land itself is breathtaking, though.
Ive lived in Illinois my whole life. Unless you live in Chicagoland, I PROMISE you don't need anything close to 95k/yr to live comfortably
@@DMBVR4from AARP - " Illinois doesn't tax pension distributions or retirement plan income, including from IRAs, 401(k) plans and government retirement plans. AARP's Retirement Calculator can help you determine if you are saving enough to retire when - and how - you want."
@@DMBVR4 I agree
I can’t hardly believe NY isn’t in that top 10…😬
As a California retiree, let me point out four things not mentioned in this video. (1) States that are more expensive for retirees generally pay workers more and also have higher taxes, so much better infrastructure. This means that if you worked in the state, the prices will just be the normal prices you always paid. Also, your various fees and payouts to private service providers may be substantially less than in states with lower taxes. (2) Retirement accounts are tax deferred, so you got out of paying taxes when you put money in, and now you have to pay when you take it out, generally at a lower tax rate due to reduced income levels. This should come as a surprise to no one. (3) States are diverse, which means that prices vary from place to place within states as much or more than they do between states. You can easily trade off location for housing quality, and either spend much more or much less. (4) It costs a lot of money and angst to move, so pulling up stakes to move from a more expensive state to a less expensive one may not, on balance, provide as much benefit as you think it will.
To say that California has better infrastructure is laughable. Their roads and bridges are garbage.
@ There are garbage roads and bridges everywhere. That said, California could probably do better.
I lived in L.A for over a decade. Their roads etc are absolute shit. We moved to GA and you can't believe how much better all of the infrastructure is here. It's not even close.
Being retired and owning my own home in Texas is like paying a monthly rent to live here. You will pay at least 300.00 - 800.00 per month property taxes if you own your home free and clear. If you have a mortgage very little goes towards the principle each month. We voted last March 2024 primary to eliminate any and all property taxes but when we got to the November elections it was not on the ballot but we voted in the primary for it to be on the ballot. Texas sucks for retired people and most people who cannot afford a home or lost it live in RV parks. Welcome to the Lone Star State where the rich get richer and the poor get poorer.
@@robertjones7792 and the lot rental in mobile home parks is outrageous
So bad, government must protect people
Im staying in beautiful Upper Midwest region. 4 mild seasons, great scenery, ppl , top notch healthcare & decent cost of living (tho nowhere worth living is cheap). Orig from Northeast ..prob most costly place to live along w/CA nowadays. Upper Midwest has all they have & more w/ less congestion. My company of 30yrs brought me out here. Best move i ever made! 🙏🏻
Right on about IL’s property taxes, can’t wait to leave IL after I retire!
Starting with:
#10- ALASKA
#9 - VERMONT
#8- ILLINOIS
#7- MARYLAND
#6- CONNECTICUT
#5- NEW JERSEY
#4- OREGON
#3- MASSACHUSETTES
#2- CALIFORNIA
Housing $ 904,000
1 Bedroom $ 2700 month Taxes 13.3%
Car Ins
$2,100 annually
To live comfortably you'll need $148,000
#1- HAWAII - Housing $800,000 avg. Rent 1 Bedroom $2100 month
Car ins
$1,600 annually To live comfortably you'll need $176,000 year.
tks much
Illinois won’t tax distributions from most pensions and 401(k) plans, or from IRAs and Social Security payouts. That part of this video is in error. I live in Illinois and the property tax is brutal, but they don't "come for all of your retirement income".
AK and HI are understandable. Everything has to be shipped in. That is going to raise prices. I love visiting AK but I can’t see living there no matter what the cost is. Way too cold for old people (me).
Take this with a grain of salt. In more expensive states incomes tend to be higher thus retirement income. Plus this tends to quote population centers. Costs like parking isn't generally much if at all in lesser population areas. However you will generally get the necessary medical care that will occur as you age in more metro areas and that's not always available in cheaper more rural areas. There will be tradeoffs no matter where you retire and the cheaper costs don't always balance the scale.
Love your presentation,
very humorous all visuals are appropriate. ❤❤❤
Dangerous cities are always a higher tax rate.
You definitely do Not want a EV, because of the very cold weather that the battery won't hold a charge 😮
Housing is the most expensive in America, however one can learn to live simple. I am born and raised in the islands and retired military. I see people struggling because they have champagne taste on an ice water budget. On my social security and military pension, my wife and I live well. BE SMART NOT SPOILED AND STUPID.