Category: Retirement Finances
- When beginning to map out retirement, one of the first and most important questions you'll ask yourself is, "How much am I going to need to put away in order to actually retire?" It's an integral question, one that unfortunately, has no simple answer.
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- Many active adults are delaying retirement in favor of remaining engaged in the workforce. The job search is daunting regardless of age, however, and the challenges that hunters confront later in life differ vastly from those of applicants in their twenties and thirties. Here are seven job hunting missteps to be conscious of as you seek your next position.
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- It is commonly thought that, when purchasing a home, homebuyers receive ownership over both the home and the land upon which it is built on. Though this is the traditional practice, there is an alternative in the form of land-lease communities. Find out everything you need to know about this type of property before buying.
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- Arizona's hot weather, popular attractions, and variety of recreation options have drawn active adults for decades. But there are also financial considerations. If you're considering the move we've found all you need to know about taxes in the Grand Canyon State.
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- One of the most common questions we get asked here at 55 Places is about homeowners' association fees. While we would love to have a database of every community's HOA fees, it just isn't possible. Read on to see why that is and how you can find out a specific community's HOA fees before you move.
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- If you're looking for a mild climate, miles of beaches, outdoor activity, and diverse cities, look no further than North Carolina. The state has everything an active adult desires in retirement. However, how do North Carolina's taxes hold up against the rest of its appeal?
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- If you're looking for a tax friendly state to spend your retirement, 55 Places has you covered. Texas is a popular state for active adults due to weather and tax friendliness. Take a look to see what to expect before you move to the Lone Star State.
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- While the idea of retiring can be exciting, it also comes with some common concerns. No longer having a job means relying on a fixed income from the savings plans and tools you put in place during your career.
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- Each year, Kiplinger and other financial analysts offer advice on which states are the most and least tax-friendly destinations for retirees. The criteria for these lists can vary, but they generally attempt to look at the total tax burden including taxes on income, property, sales, pension, Social Security benefits and inheritance.
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- While retirement might be out of reach if you are truly broke, it may still be possible when your nest egg is much smaller than you had expected it would be. There are many ways to cut back on costs or supplement your income during retirement. Of course, you may have to get creative with your expenses and adjust your expectations to make it work.
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