Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#1
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Why Florida residency makes sense.
Why it might be a good retirement move, and how to do it.
Another interesting article from the TopRetirements website. http://www.topretirements.com/blog/f...to-do-it.html/
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KayakerNC Mt Clemens, MI Newport, NC Suffering from TV envy |
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#2
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Thanks for posting that very informative interview. I didn't realize all of the protections the Homestead laws give Florida residents.
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#3
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thank you
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#4
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Thanks for posting this. It reminded me that taxes could be reduced with the Homestead Exemption and not raise more than 3 %. With fixed incomes, this is a blessing.
A friend of mine who was a very calm individual lost his cool when his taxes doubled in one year. I don't want to be "old and cold" in CT but I'm still a wannabee. Life is good, (no make that great), in TV. 2BNTV |
#5
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Ditto, from me. I hadn't read an informative article like this on the Homestead laws but only conjecture from some informed people. I really appreciate it.
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"They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety." -- Benjamin Franklin, Historical Review of Pennsylvania (1759) |
#6
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Change residency to FL
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#7
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2BNTV,I'm a CT guy and I just bought preowned in March. I will no longer be old and cold. Doing 6 months to start then I hope all the way.
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#8
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Congrats to you. I hope the 6 months is during the winter months or. |
#9
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The problem we have with becoming Florida residents is health insurance.
If we keep our Maine residency, our hospital bills are paid at 100% with no lifetime limit. If we move out of Maine, the insurance covers only 80% and there is a million dollar lifetime limit on benefits. Don't ask me why this is, it is just how the State of Maine retiree benefits work. Personally, I think the State wants to keep the retirees in Maine because their pensions are subject to the income tax. Medicare will kick in when we turn 65, but Blue Cross will be our supplemental insurance. Reading the Save our Homes link in an earlier post, it seems that if we were Florida residents and ran up some big medical bills the insurance didn't pay and (we couldn't pay) we could stay in our home until we die, then the house could be taken for the amount due. Not the way we like to do things, but if that is the only way to keep from living on the street, we'd do it, I guess.
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Maine, 61.5 years. The Village of Liberty Park. "Live life while you're alive, because when you're dead, you're dead a long time".- Roland Michael Curtis |
#10
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owning 2 homes is way expensive - maybe more than buying supplemental health care, and paying to heat a home in Maine, and paying Maine income taxes on a pension, if it is taxed.
Is there any kind of supplemental health insurance that would just cover anything over the million dollar lifetime limit and maybe the 20% that Maine retirement healthcare won't cover? Maybe you've already looking into this, but if you haven't . . . |
#11
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Living in Florida
Thanks for posting that web site. As my Wife and I are coming down on July 1st for 2 weeks and renting. We have done a weekend in a hotel and week Life Style last year. I think we have 11 months and 4 days until we become Frogs, my Wife has a clock on her computerr counting down. We are renting the smallest home we would consider and in 2 weeks will know if it will work.
We can't wait until we get there next week as with that much time we can get a short list of villages that will be for us. |
#12
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#13
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#14
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Thanks KayakerNC!
Good info. Can't wait to make it happen....our NY home goes up for sale any day now. I'd give you rep points if I could here...! Frank
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The Plantation in Leesburg, just south of you good people. Love being a Floridian! |
#15
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Thanks... Dirigo
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Maine, 61.5 years. The Village of Liberty Park. "Live life while you're alive, because when you're dead, you're dead a long time".- Roland Michael Curtis |
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