States Attract Retirees With Favorable Taxes
States are wooing retirees with tax breaks. On average, retirees pay only half the state income tax levied on working-age people, according to researchers at the University of New Hampshire and Georgia State.
Seven states — Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming — don’t tax personal income at all. New Hampshire and Tennessee tax interest and dividends but not other income. Still, these states may not offer the best total deal for seniors because other states have crafted special programs that reduce taxes and fees across the board.
Considering everything, here are the states that tax experts say offer the best deals for residents older than 65:
1. Georgia
2. Pennsylvania
3. Mississippi
4. Illinois
5. Michigan
6. Kentucky
7. New York
8. South Carolina
9. Delaware
10. Louisiana
Source: Forbes, Ashlea Ebeling (06/28/2010)
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Older Buyers Look for Easy-Care Homes
A survey showed three key differences between the concerns of 55- to 64-year-old homeowners compared to those of homeowners 65 and older:
* Younger homeowners were more interested in technology
* Older homeowners had a strong preference for a single-story floor plan or at least one with a first-floor master
* Younger homeowners were more eager for home maintenance and repair services, vs. older homeowners, who were more focused on healthcare and transportation
The survey conducted by the National Association of Home Builders and the MetLife Mature Market Institute showed that both age groups want easy access to services that free up their time and help them live in a secure environment.
Growth in housing for older people has slowed as a result of the overall slowdown in new home construction. This is likely to cause a shortage just as this housing is most in demand, points out Paul Emrath, vice president for housing policy research for the home builders.
Source: National Association of Home Builders and the MetLife Mature Market Institute (01/19/2010)
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Stimulus: What’s in it for retirees?
On the face it of, the bill might not seem to offer much to those in their golden years, but
take a closer look and you may find a few goodies that can benefit you post career.
Question: What does the new stimulus package do for people receiving
Social Security benefits?
Answer: At first glance, it may seem like the giant stimulus bill president Obama signed on
February 17th doesn’t do a heck of a lot for people who have already retired. Indeed,
there’s only one provision targeted exclusively to Social Security recipients and other
retirees. Full Story.
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.