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Where to retire on your military pension?
- Thread starter ChuckMK23
- Start date
That deserves its own thread. Taxes, cost of living, amenities that you enjoy, closeness to family - a whole list of items to factor in.
Pensacola (in particular East Hill) is a place we are definitely considering - probably #2 on our list right now: beautiful beaches, fresh seafood, warm climate, reasonable real estate prices, plenty of SEC championship caliber college football nearby and the Blue Wahoos AA baseball stadium in town with the World Champion Atlanta Braves a short 5 hour drive away. Finally, a laid back lifestyle - or as Kenny Chesney would say, "No Shoes, No Shirt, No Problems."
Texas, maybe out west for some land to keep the Griz-O-Copter but a hard no to P’cola or anywhere in Florida…my retirement will be as humidity free as possible.
Some combination of no state income tax; low cost-of-living; access to military health care facility; and opportunities to do whatever lights your fire (and that of your spouse, if that's a consideration). Gotta stay busy doing SOMETHING after you fully retire.
We’ll…the tax part limits it to Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming. They all have military health care facilities but I’d have to dump AK (the sunlight thing weirds me out) FL (humidity and alligators), and SD (just because), and probably TN (because the MMF is really in Kentucky). I lived in NH and liked it, but my wife hates it for no logical reason. That leaves me Texas, Washington, and Wyoming. Or just pay the state taxes! California would be nice, but I’d need a lottery win.
FormerRecruitingGuru
Making Recruiting Great Again
I wouldn’t rule out states that have income tax. I wouldn’t go as far as say consider CA, but there are some states out there where the cost of living remains low and taxes are fairly “equitable” compared to the tax free states. Some states “waive” or have exceptions to military retirement pay.
Texas has no income tax but they do get you with property taxes. However, that becomes OBE if you have a 100% VA disability.
Texas has no income tax but they do get you with property taxes. However, that becomes OBE if you have a 100% VA disability.
Pennsylvania doesn’t tax retired mil pay.
Worth considering is a town with at least a college, so you’ve got a sports team to root for, a library to visit, some noisy pubs to feel old in, and shows to see. Opportunities to volunteer and hang out with adult-adjacents.
I really like central PA. Surrounded by forests that feel like your private woods, an obvious huge campus with events year round, almost enough snow to scratch that itch, flights to Chicago, Detroit, Philly, and (uggh) Newark.
Worth considering is a town with at least a college, so you’ve got a sports team to root for, a library to visit, some noisy pubs to feel old in, and shows to see. Opportunities to volunteer and hang out with adult-adjacents.
I really like central PA. Surrounded by forests that feel like your private woods, an obvious huge campus with events year round, almost enough snow to scratch that itch, flights to Chicago, Detroit, Philly, and (uggh) Newark.
exNavyOffRec
Well-Known Member
I would avoid Washington, while they don't have an income tax now they get you on sales tax, gas tax, vehicle licensing and a variety of other ways to take your money. They also keep talking about changing the law to enact an income tax, I feel that is only a matter of time. Don't forget the crime issues, they will keep getting worse in Washington, many jurisdictions don't have the manpower to investigate a lot of different crimes.
I agree, my brother retired to some place just outside JBLM. I’ve already decided to head back to Colorado, my favorite of several childhood homes. I get a good break on military retired pay and a “break” on property taxes (which are pretty low).
Leaning towards Tennessee personally. Chattanooga north towards Knoxville, in that area perhaps. A lot of my coworkers are retiring so it’s interesting to see where people are going to. Have a couple that are in the process of building out their retirement home and leaving SoFlo behind.
I'm going to split my time between WA and OR, and while OR does have a fairly hefty state income tax, there's no sales tax there, so that's somewhat offsetting. Lots of scenarios where I can live in WA to make wine, then have a vacation home in OR and not get taxed as a resident there.
AZ doesn't tax mil retirement and ordinary income tax is moderate. Military base access is good. Golf courses abound. Nearly all the open space is public land. Most folks think Sonoran Desert and may shy away from that. But that is barely half the state. Downside is housing has gone crazy. Less than someplace like NOVA or CA, but still bubble like highs.
Yeah, but it's also hot AF.
I grew up on the Gulf coast very near Pensacola. I am DONE with hurricanes. Hell no am I going back down there without a damn good reason.
To include the highest booze taxes of any state in the Union . . . a per-ounce liquor tax, and then on top of that, a 20% sales tax. But yeah, they get their money in taxing everything else but income for sure.
I seriously wonder whether or not we (WA State) have reached a tipping point where the electorate is just frankly fed up with all the platitudes and no action. Especially after all the utter buffoonery that went down in 2020. Witness the last election, where the three-ring clownshow that is the City of Seattle electorate elected a centrist Democrat mayor and (gasp! Grab the smelling salts, Gertrude!) a centrist ex-Democrat Republican as City Attorney. Now if they could just get the Trotskyist off the City Council, there may yet be hope.