Tags: Retirement | retirement | California | myths

Myths About Retiring in California

By    |   Tuesday, 02 Jun 2015 12:07 PM

When looking for a place to spend the later years of your life, it is important to research everything and figure out what the best fit is for you, both financially and for peace of mind. However, it is also important to understand the difference between fact and fiction, and between reality and myth, when listening to the advice of where to plan a retirement. For those hoping to stake a claim to a retirement in California, there is a lot of information out there, some of it fact and some fiction. Here is a look at some of the myths about retirement in California.

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  1. The Cost of Living - The high cost of living is not a myth. Everything costs more in California, from groceries to a night out on a date. The biggest cost of living is rent or home ownership. The median home in California costs $440,700 and rent runs about $1,995 a month. This can all be offset by one important detail most people ignore. California pays employees better than other states. The median state income is $61,094, which is $8,000 higher than the national median.
  2. Crime  - One of the things people seem to fear the most is the high crime rate. When considering retirement in California, crime could be a crippling fear for the elderly. However, California is large, and the crime rate differs depending on where you live. While Fresno ranks a low eight on a scale where 100 is the safest town, according to Neighborhood Scout, it is not the same everywhere. Los Angeles, which many people fear, ranks at 28, which is safer than San Diego, which sits at 26.
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  4. California Has the Most Earthquakes - It seems many people live in fear of California earthquakes. However, the fact is that California does not have the most earthquakes in the United States, and isn't even second on the list. For anyone considering retirement in California, but the fear of earthquakes has been a deterrent, here is interesting information. While Alaska has the most earthquakes of any state each year, Oklahoma is actually ranked second on the list. In 2014, there were about 200 earthquakes in California, but 583 in Oklahoma. California's earthquakes are more notable because of the population and infrastructure.
  5. The Weather is Always Beautiful - This is a myth because California is a huge state. There is about 250 miles from the northern border to the southern border of the state. Most of the famous sections of California are beautiful, with Los Angeles and San Diego enjoying warm temperatures year round. However, up north, the ocean water can be unbearably cold, while it is warmer down south. Some areas of California have never seen snow while others are covered in it. Los Angeles can stay in the 70s during the winter, while Lake Tahoe gets down in the low 40s. It's better than the majority of the U.S., but changes depending on where you live in the state.
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When looking for a place to spend the later years of your life, it is important to research everything and figure out what the best fit is for you, both financially and for peace of mind.
retirement, California, myths
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2015-07-02
Tuesday, 02 Jun 2015 12:07 PM
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