Tags: Retirement | retirement | California | facts

Facts About Retiring in California

By    |   Tuesday, 02 Jun 2015 04:50 PM

When it comes to retirement in California, there is a lot of information to wrap your head around. While the cost of living is high, there are ways to overcome that. While the taxes are harsh, there are things that make retirees a little more comfortable. With the nice weather, the beautiful land, and the dream of California living, here are some facts about retirement in California that everyone should take into account before making the move.

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  1. Cost of Living - There is a chance that retired people heading to California could find a job paying them more money than they made where they came from, which should help. The cost of living in California is higher than almost anywhere else in the United States. The cost of living rating for the state is 128.7, but the biggest knock is the housing rate, with the average home costing $440,700. That makes it tough to live in California if the only income for a retiree is Social Security benefits.
  2. Income Tax Deductions - Luckily, one area where a person who chooses retirement in California can make a trade-off is through tax exemptions from Social Security benefits. Most people in California pay more in taxes than anywhere else in the country. However, for seniors who choose California, the retirement benefits are all exempt from Social Security taxes. Some disability payments are also exempt.
  3. How Soon Can You Retire? Free Test Shows You When — Click Here

  4. The Weather is Beautiful - There are some places in California where the weather can get bad. In Palm Springs, the desert heat in the summer can be more than 100 degrees Fahrenheit. In some areas up north, the winters are cold and wet, and the summers are hot and dry. However, in many areas, the temperatures stick around the 70 F mark year round, meaning retirees can spend a lot of time enjoying life. Even the places that are not as ideal are better than most of the United States.
  5. Earthquakes are More Pronounced - It is a myth that California has more earthquakes than any other state. Alaska and Oklahoma both have more earthquakes than California. However, the earthquakes in Alaska are in remote areas with no people and the earthquakes in Oklahoma cause minor property damage, but most people don't even feel them. However, the ones in California happen in populated areas, and thanks to the infrastructure, can cause more damage.
  6. Crime is a Problem in Low Income Areas - Despite what people see on television, it is a fallacy to think that California is a haven for criminal activity. There are plenty of places to live where there is very limited crime. However, it is also important to research the safety of areas where homes might seem more reasonable. An example is Fresno. While the median house price there is very affordable, that is because of the high crime rate. There were 2,622 violent crimes there last year. Always compare the cost of living with the crime rates before making a decision.
An Extremely Simple Way to Determine If You're Ready to Retire — Find Out Now

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When it comes to retirement in California, there is a lot of information to wrap your head around. While the cost of living is high, there are ways to overcome that. While the taxes are harsh, there are things that make retirees a little more comfortable.
retirement, California, facts
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2015-50-02
Tuesday, 02 Jun 2015 04:50 PM
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