The Elder and Disability Law Firm, APC
Choose Your Retirement Spot Carefully
If you are in a position to simply go about your business with no financial constraints during retirement you are in a fantastic position, but it is in fact a minority position. Most people are going to have to plan ahead carefully to be able to have the resources necessary to finance a reasonably comfortable retirement.
Making sure that you have adequate savings and a suitable income stream will certainly be necessary pieces to the puzzle. However, another thing to consider would be to make sure that your expenses are as affordable as possible.
With this in mind you would do well to evaluate your retirement destination. Some people are attached to the San Bernardino County area for family reasons and simply because they enjoy living in the area and this is great. But if you find that your property taxes are high and you have excess space you might want to consider downsizing to reduce your tax bill.
You may walk away with something to add to your savings as you sell your home and move into something smaller, and your utility bills would go down as well.
If you are open to new experiences during retirement there are certain states that offer favorable tax environments to retirees. States without a state income tax such as Nevada hold appeal for many individuals. And of course property values are at a low ebb in southern Nevada so property taxes will follow suit.
The intelligent course of action is to examine all of your options as you look forward toward retirement. If you would like to discuss your unique situation with an expert, simply take a moment to arrange for a consultation with a seasoned and savvy Redlands retirement planning lawyer.