California's cost-of-living index of 111 versus Texas's 97 drives real savings, but only for retirees drawing heavily from IRAs and 401(k)s.
California exempts Social Security from state income tax and Prop 13 caps property tax growth, but both benefits are permanently surrendered the day you sell.
Proposition 19 lets homeowners 55-plus transfer their existing Prop 13 ******* sed value to any California replacement home before listing on the market.
Read More: Learn 7 ways to generate income with a $1,000,000+ portfolio (sponsor)
Every few months, a friend or cousin sends the same message: they sold the California house, cashed out the equity, and moved somewhere the mortgage, insurance, and gas stop hurting. The savings are described in a tone between relief and vindication. This piece examines whether the promised savings survive a full retirement budget, or whether a long-time Californian is quietly giving up more than the moving truck can carry.
#whether #Social #learn
California exempts Social Security from state income tax and Prop 13 caps property tax growth, but both benefits are permanently surrendered the day you sell.
Proposition 19 lets homeowners 55-plus transfer their existing Prop 13 ******* sed value to any California replacement home before listing on the market.
Read More: Learn 7 ways to generate income with a $1,000,000+ portfolio (sponsor)
Every few months, a friend or cousin sends the same message: they sold the California house, cashed out the equity, and moved somewhere the mortgage, insurance, and gas stop hurting. The savings are described in a tone between relief and vindication. This piece examines whether the promised savings survive a full retirement budget, or whether a long-time Californian is quietly giving up more than the moving truck can carry.
#whether #Social #learn
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