Washington State is still a great place to retire. But this week I am going to sit back and enjoy this warmer than average Christmas. Boys are home for the holidays and things are good. Hey, it's Washington, of course it's good :)
Warmest wishes to you and yours this holiday season.
The 'Couv'
Tuesday, December 23, 2014
Tuesday, November 25, 2014
Goldendale is Golden for Retirees
Goldendale, WA lies at the east end of the Columbia River Gorge. This city of 3,500 people is the seat of government for Klickitat County. It lies roughly 100 miles east of Vancouver and the Portland Metro Area.It is popular among retirees because unlike the areas of Washington that lie west of the Cascades, this area gets 300 days of sunshine each year. Goldendale is situated at a little more than 1,600 feet above sea level. Summers are very warm and very dry. Winters are chilly and about 21 inches of snow falls from November to March. Less than 20 inches of rain falls over the whole year and that makes it as dry as Sacramento, CA.
For retirees that want a beautiful scenic area in which to live, with relatively dry weather but with four seasons; Goldendale should be high on the list. Although snow falls routinely in the winter, the roads stay mostly clear and the snow tends to be of the preferred light and fluffy variety that is easy to clear. Unlike the very nearby Gorge, Golden is less windy. Many wind farms have been built just a few miles south near the gorge, but the town itself doesn't get near as much wind as the Gorge communities. Personally I am not a big fan of wind that hits harder than a stiff breeze, so Goldendale has another advantage in that regard.
Goldendale is a place for people that want to be away from the "city". It is definitively rural. For people that need to have urban amenities, Tri-Cities, Spokane, Vancouver, or Seattle may be a wiser choice among Washington cities.Overall Goldendale is a great place to retire. Retires interested in this area may also consider White Salmon which lies on a bluff overlooking the Columbia River. I wrote about this a little in another blog, here.
Tuesday, October 28, 2014
Warm Getaways that are Close!
As we transition into the dark and gloomy fall and it's colder big brother, Winter, some of our residents begin to think about getaways to warmer climates. Sometimes a trip to Hawaii or the Caribbean are just a little too much dough or maybe just too long a trip. Sometimes a weekend getaway is just what the doctor ordered.
Here in Southwest Washington we have great access to one of America's favorite airports. From PDX there are many destinations that are less than three hours air time away.
Las Vegas, NV
753 miles flight @ 2:05 or drive 1054 miles from the 'Couv'
January average temps run 39 low and 58 high. January averages just about a half inch of rain; so dry is almost guaranteed. Vegas can be chilly as it sits at an elevation around 2500 feet. It is high and dry and still much warmer on average than most of Washington State in January
Vegas is a great getaway destination. Flight times out of PDX run about two hours flat. Vegas isn't just about gambling. This town draws people from around the world for food, spirits, conventions, shows and yes even some gambling from time to time.
Los Angeles, CA
824 miles flight @ 2:20 or drive 970 miles from the 'Couv'
January average temps run 48 low and 68 high. January averages just a hair over 3 inches of rain. Generally it all comes in one storm. So again dry is likely. And daytime temps in the upper 60s, Yeah, that doesn't happen here in January. LA is basically at sea level.
LA is huge, They have more people than Northern California, Oregon, and Washington COMBINED! I am pretty sure you can find something to do there. The area is served by multiple airports. It will be crowded however so keep that in mind.
Palm Springs, CA
868 miles flight @ 2:15 or drive 1075 miles from the 'Couv'
January average temps run 45 low and 71 high. January averages just about an inch of rain. This is not high desert as many people think. Palm Springs sits at just 440 feet above sea level. It can get chilly at night but not as bad as Vegas and daytime highs averaging in the 70s in the dead of winter is tough to complain about. Palm Springs is not afraid of tossing around some 90s in January either.
If you like golf, then this is your ticket. This area has over 100 golf courses.
San Diego, CA
930 miles flight @ 2:25 or drive 1090 miles from the 'Couv'
January average temps run 49 low and 65 high. January averages just shy of 2 inches of rain. San Diego has what could easily be considered the best all round weather in North America. Of course I like four seasons and San Diego has only one; pleasant. It sits at sea level.
San Diego is a big city with much to do. It is less crowded than LA but more so than Portland/Vancouver.
Phoenix, AZ
1000 miles flight @ 2:35 or drive 1341 miles from the 'Couv'
January average temps run 46 low and 67 high. January averages just shy of an inch of rain. Phoenix is not technically high desert as it is situated just above 1000 feet. It can be a bit nippy overnight but temps will average in the upper 60s by day.
This is another great golf getaway but Phoenix is one of America's largest cities and if golf isn't your thing there are plenty of other opportunities for getaway relaxation.
There it is in a nutshell; five great getaways to consider when the cold, gloomy winter gets you down!
Here in Southwest Washington we have great access to one of America's favorite airports. From PDX there are many destinations that are less than three hours air time away.
Las Vegas, NV
753 miles flight @ 2:05 or drive 1054 miles from the 'Couv'
January average temps run 39 low and 58 high. January averages just about a half inch of rain; so dry is almost guaranteed. Vegas can be chilly as it sits at an elevation around 2500 feet. It is high and dry and still much warmer on average than most of Washington State in January
Vegas is a great getaway destination. Flight times out of PDX run about two hours flat. Vegas isn't just about gambling. This town draws people from around the world for food, spirits, conventions, shows and yes even some gambling from time to time.
Los Angeles, CA
824 miles flight @ 2:20 or drive 970 miles from the 'Couv'
January average temps run 48 low and 68 high. January averages just a hair over 3 inches of rain. Generally it all comes in one storm. So again dry is likely. And daytime temps in the upper 60s, Yeah, that doesn't happen here in January. LA is basically at sea level.
LA is huge, They have more people than Northern California, Oregon, and Washington COMBINED! I am pretty sure you can find something to do there. The area is served by multiple airports. It will be crowded however so keep that in mind.
Palm Springs, CA
868 miles flight @ 2:15 or drive 1075 miles from the 'Couv'
January average temps run 45 low and 71 high. January averages just about an inch of rain. This is not high desert as many people think. Palm Springs sits at just 440 feet above sea level. It can get chilly at night but not as bad as Vegas and daytime highs averaging in the 70s in the dead of winter is tough to complain about. Palm Springs is not afraid of tossing around some 90s in January either.
If you like golf, then this is your ticket. This area has over 100 golf courses.
San Diego, CA
930 miles flight @ 2:25 or drive 1090 miles from the 'Couv'
January average temps run 49 low and 65 high. January averages just shy of 2 inches of rain. San Diego has what could easily be considered the best all round weather in North America. Of course I like four seasons and San Diego has only one; pleasant. It sits at sea level.
San Diego is a big city with much to do. It is less crowded than LA but more so than Portland/Vancouver.
Phoenix, AZ
1000 miles flight @ 2:35 or drive 1341 miles from the 'Couv'
January average temps run 46 low and 67 high. January averages just shy of an inch of rain. Phoenix is not technically high desert as it is situated just above 1000 feet. It can be a bit nippy overnight but temps will average in the upper 60s by day.
This is another great golf getaway but Phoenix is one of America's largest cities and if golf isn't your thing there are plenty of other opportunities for getaway relaxation.
There it is in a nutshell; five great getaways to consider when the cold, gloomy winter gets you down!
Thursday, October 9, 2014
Washington Snowbirds Should Winterize!
Some retirees just don't like cold weather. Some of these warm weather only people are in a position to have a winter home in a warmer climate. If these snowbirds claim Washington as their home, they can have a winter residence in any state they want and they still enjoy the tax advantages the Evergreen State offers its retired residents.
Arizona from November through April and Washington from May through October! What a life! If you are new to Washington State and plan on leaving your home for the winter grounds in the south you need to be sure to follow important tips on winterizing your home.
These tips are posted on the Travelers Insurance Website.
If you are a snowbird heading south to avoid the winter cold, there are steps that you can take to help keep your home safe and sound while you are away. A little preparation can go a long way towards protecting your home against theft, damage from water, heating or electrical system malfunctions and other possible threats to your property. Here are some guidelines to consider before you take off.
Make it look like you are home
Your home should look like someone is still living in it. Forward your mail and stop newspaper delivery. Ask a neighbor, friend or relative to collect flyers or other items that may be left at your door. Arrange to have someone mow the lawn if the grass gets too high or remove snow that may accumulate on the driveway and walkways. Also, make sure your alarm systems are in good working order and have been activated. Motion-sensitive exterior lights are good for helping to discourage prowlers, as are lights inside the home. Put lights on timers and set them to come on at varying times.
Protect your pipes to avoid water damage
Take extra care with your plumbing and water before you leave. If a pipe bursts or leaks while you are away, it could cause significant damage. If no one will be home for a long period of time, consider turning off the water supply completely. Drain your pipes of all water by opening the faucets and do not forget to flush your toilet to clear the water from the bowl. To help ensure that the pipes have been drained, consider having a plumber blow compressed air through the pipes.
Washing machines and dishwashers can also cause expensive water damage even when not in use. Shut off the water to these appliances, where possible, to avoid any leaks or broken hoses while you are gone. Consider draining and shutting off outdoor water faucets to prevent vandalism and freezing damage.
Keep your home and plumbing warm
If you decide to keep your water on, the best defense against freezing pipes is to keep the furnace running and the home warm. Leave the heat at 55 degrees or higher to ensure that the interior of the wall cavities, where the water piping is located, does not drop below freezing. Keeping room and cabinet doors open also helps heat to circulate and warm the outside walls where pipes are located.
Every year, have your heating system inspected and serviced before winter. Have your fuel tanks filled before you leave, and ask someone to check on heat and fuel levels regularly while you are gone to ensure you do not run out.
Make your home unattractive to pests
Cleaning your home thoroughly helps discourages new “residents” from moving in. Clean, defrost and unplug refrigerators and freezers, wiping them dry and leaving doors propped open to prevent mildew. Also clean the oven and give away or throw out any uneaten food.
The kitchen is not the only place where you can find unwanted visitors. Inspect your home for any openings where animals can enter. For example, make sure your fireplace flue is closed; bats, birds and squirrels are known to get inside this way. If there is any chance that someone will be using the fireplace in your absence, have chimneys inspected and cleaned to eliminate creosote buildup and make sure there are no obstructions such as bird nests. To help prevent against this, consider installing chimney guard screen caps.
Also, regularly check the insulation, exterior doors and windows, and any weather stripping to help ensure there are no openings where water or insects may enter.
Be ready for emergencies
Ask a trusted friend, neighbor or relative to keep an eye on your home and be available in emergency situations. Give them access to your home so they can regularly check for heating, electrical or water issues. If the weather turns frigid, have them also check the roof for ice dams, and inspect for leaks inside. Make sure they have your contact information and a list with numbers of local people they can reach if repairs or service are needed.
A few more ways to prepare...
Secure external doors and windows with deadbolt locks, security-type hinges and sturdy door frames that cannot be spread apart. Install slide locks or other equivalent security locks on sliding glass doors or French doors.
Do not post your vacation or travel plans on social media sites as potential thieves can then learn your house is vacant.
Have a licensed electrical contractor inspect your main electrical panel, wiring and outlets, and have anything defective repaired or replaced.
Store valuables, which you aren’t taking with you, in a safe deposit box or other safe offsite location.
Unplug all appliances and telephones before you leave.
Remove dead trees or large overhanging limbs that could cause damage.
Arizona from November through April and Washington from May through October! What a life! If you are new to Washington State and plan on leaving your home for the winter grounds in the south you need to be sure to follow important tips on winterizing your home.
These tips are posted on the Travelers Insurance Website.
If you are a snowbird heading south to avoid the winter cold, there are steps that you can take to help keep your home safe and sound while you are away. A little preparation can go a long way towards protecting your home against theft, damage from water, heating or electrical system malfunctions and other possible threats to your property. Here are some guidelines to consider before you take off.
Make it look like you are home
Your home should look like someone is still living in it. Forward your mail and stop newspaper delivery. Ask a neighbor, friend or relative to collect flyers or other items that may be left at your door. Arrange to have someone mow the lawn if the grass gets too high or remove snow that may accumulate on the driveway and walkways. Also, make sure your alarm systems are in good working order and have been activated. Motion-sensitive exterior lights are good for helping to discourage prowlers, as are lights inside the home. Put lights on timers and set them to come on at varying times.
Protect your pipes to avoid water damage
Take extra care with your plumbing and water before you leave. If a pipe bursts or leaks while you are away, it could cause significant damage. If no one will be home for a long period of time, consider turning off the water supply completely. Drain your pipes of all water by opening the faucets and do not forget to flush your toilet to clear the water from the bowl. To help ensure that the pipes have been drained, consider having a plumber blow compressed air through the pipes.
Washing machines and dishwashers can also cause expensive water damage even when not in use. Shut off the water to these appliances, where possible, to avoid any leaks or broken hoses while you are gone. Consider draining and shutting off outdoor water faucets to prevent vandalism and freezing damage.
Keep your home and plumbing warm
If you decide to keep your water on, the best defense against freezing pipes is to keep the furnace running and the home warm. Leave the heat at 55 degrees or higher to ensure that the interior of the wall cavities, where the water piping is located, does not drop below freezing. Keeping room and cabinet doors open also helps heat to circulate and warm the outside walls where pipes are located.
Every year, have your heating system inspected and serviced before winter. Have your fuel tanks filled before you leave, and ask someone to check on heat and fuel levels regularly while you are gone to ensure you do not run out.
Make your home unattractive to pests
Cleaning your home thoroughly helps discourages new “residents” from moving in. Clean, defrost and unplug refrigerators and freezers, wiping them dry and leaving doors propped open to prevent mildew. Also clean the oven and give away or throw out any uneaten food.
The kitchen is not the only place where you can find unwanted visitors. Inspect your home for any openings where animals can enter. For example, make sure your fireplace flue is closed; bats, birds and squirrels are known to get inside this way. If there is any chance that someone will be using the fireplace in your absence, have chimneys inspected and cleaned to eliminate creosote buildup and make sure there are no obstructions such as bird nests. To help prevent against this, consider installing chimney guard screen caps.
Also, regularly check the insulation, exterior doors and windows, and any weather stripping to help ensure there are no openings where water or insects may enter.
Be ready for emergencies
Ask a trusted friend, neighbor or relative to keep an eye on your home and be available in emergency situations. Give them access to your home so they can regularly check for heating, electrical or water issues. If the weather turns frigid, have them also check the roof for ice dams, and inspect for leaks inside. Make sure they have your contact information and a list with numbers of local people they can reach if repairs or service are needed.
A few more ways to prepare...
Secure external doors and windows with deadbolt locks, security-type hinges and sturdy door frames that cannot be spread apart. Install slide locks or other equivalent security locks on sliding glass doors or French doors.
Do not post your vacation or travel plans on social media sites as potential thieves can then learn your house is vacant.
Have a licensed electrical contractor inspect your main electrical panel, wiring and outlets, and have anything defective repaired or replaced.
Store valuables, which you aren’t taking with you, in a safe deposit box or other safe offsite location.
Unplug all appliances and telephones before you leave.
Remove dead trees or large overhanging limbs that could cause damage.
Tuesday, September 23, 2014
Fall Color in Washington
I also though I might re-post the article that reminds you all why Washington is such a great place to retire.
Originally published by Real Estate with Realtor Rod; November 1st, 2013.
Washington State is not the first state you think of when pondering the exodus of retirees to "fairer" locales. You might think of the warmer sun belt states like Arizona and Florida. But Washington offers a unique combination of favorable taxes for seniors, a variety of climates from dry to wet and mild to wild. Washington offers its qualifying seniors a significant reduction in property taxes. There is no state income tax. Southwest Washington really hits the spot, because for those who like to shop and spend money the very nearby Oregon has no sales tax. A trip to the Oregon coast is easy and inexpensive.
Many retirees in the area keep two inexpensive (or expensive depending on their finances) homes. One in Washington State and another in California or Arizona. They fly south for the winter in November and return to our more tolerable climate in the late spring. usually it is better to claim Washington as the "home" state since we have favorable tax conditions for seniors. Although Washington is not the TOP rated state for tax friendly status, it would be when considering the live in Washington, play in Oregon angle offered by Southwest Washington.
Vancouver offers the glorious beauty of the west side of the Cascades with a moderate amount of rain and very modest snow. East of the Cascades delivers much more sunshine but also has more drastic swings in temperature and much more snow in the winter. Southwest Washington also offers close proximity to the aforementioned Oregon Coast and the metropolitan Portland area.
Speaking of the coast, Southwest Washington has the lock on reasonably priced beach property. The Oregon coast is world famous, largely because the state of Oregon spends millions of dollars promoting it. The southern Washington coast is equally spectacular but offers amazing values in property and taxation. This is especially true when compared to Oregon which is very tax unfriendly according to several prominent sources such as Money Magazine and Kiplinger.
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| Sourced from Kiplinger.com |
Our southern neighbor, Oregon is rated as "least tax-friendly" for seniors while we enjoy the "tax friendly" status. Our base property taxes are much lower than Oregon and many seniors qualify for one of four property tax reduction programs. Sales tax is a much less intrusive tax than income tax for middle and upper income seniors. Arizona rated higher than Washington for tax friendly status but actually depending on income and spending habits we might be better than them as well.
Now that all this taxation benefits are out of the way, we can consider other factors. The well known fact that Washington state is absolutely gorgeous is a strong draw. We have four distinct seasons here in Clark County but none are severe. That is tough to find anywhere on Earth. It seems like the proverbial slam dunk for a retirees to move here. And many of them are moving here. So there you have it, Washington State is the best northern state to retire to. Start packing.
Now that all this taxation benefits are out of the way, we can consider other factors. The well known fact that Washington state is absolutely gorgeous is a strong draw. We have four distinct seasons here in Clark County but none are severe. That is tough to find anywhere on Earth. It seems like the proverbial slam dunk for a retirees to move here. And many of them are moving here. So there you have it, Washington State is the best northern state to retire to. Start packing.
Thursday, September 11, 2014
Southwest Washington's Coast can be a Value for Retirees!
I posted this on my Coastal Living blog a few days ago, check it out! All the advantages of Washington State and the proximity to Oregon, but at the seashore!
Ocean Front under 200k? Believe it!
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I was wandering about on the multiple listing service and stumbled upon this interesting and fantastic property. It is a lovely 1930s cottage with a two bedrooms and a bath. The living area totals 728 square feet. It is an absolutely charming little house that appears to have been very well kept.
The strange thing about this house however is the property on which it sits. The home sits on a 1.5 acre lot that is only 40 feet wide. Barely wide enough for the house. The lot extends more than 1600 feet to the beach. This is true beach front property.
The pink colored lot is the lot and house for sale, from Pacific, County Mapsifter
Like the headline says, this home is under $200k; in fact it is listed for just $189,900. Sure it is just a cottage but it is a tidy little house and it has beach front access! Sure it's only 40 feet of beach front but it's still beachfront! This house is in the city of Long Beach, Washington. It is very close to the Columbia River, Ilwaco, WA Astoria, OR. This is not way up on the peninsula. Long Beach hosts a variety of events every year and has a charming, classic American beach town setting.
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I never cease to be amazed at the beach-side opportunities here in the Evergreen State. This property offers up retirees or families seeking a vacation home something they can afford from the middle class rather than the wealthy class. We have some of the best coastal living in America, and sometimes it's even a bargain!
Thursday, August 28, 2014
Long Term Care Should be Planned in Advance
Long term care is an issue that faces nearly every American. Advances in medical science have resulted in an extension of our quality of life and health. This has also resulted in many more people living into their 80s and 90s. There comes a point where help with daily activities becomes a necessity.
Retirees should be prepared financially for this outcome. Long term care is very expensive and is not typically covered by traditional health care plans. Having a long term care need without adequately planning is usually financially devastating. The government will require that you be destitute before they pay for it. Who wants to rely on government care and be poverty stricken?
Insurance companies of course offer long term care products and these can be very expensive if then insured waits too long to purchase. Once a chronic condition exists getting private insurance may proving to be a daunting task. Having large amounts of cash in retirement accounts can be a great security blanket but long term care costs can easily run into the 6-7 thousand a month range. Funds become depleted quickly at that rate of consumption. Planning is critical. Consultations with professional financial planners is a wise idea.
Furthermore young retirees in their early 60s should consider proximity to long term care facilities and or services when relocating. I have spent a fair amount of time writing about neighborhoods and great places to retire to, but what about long term care?
Vancouver, WA is a big enough city that it has a virtual cornucopia of offerings in the long term care arena. Relocating to Vancouver provides retirees with the peace of mind that they will not have move far or even at all should they need assisted living or convalescent care.
Planning ahead makes for a much easier transition when the time comes for assistance. Often times couples find themselves with one in care and the other still at home. A short drive is always better than a long drive for visits. Above and beyond all the great reasons to relocate to Washington State, taxes, moderate weather, etc. proximity to these types of facilities should also be taken into consideration.
Vancouver proves again to be a very wise choice for retirees.
Retirees should be prepared financially for this outcome. Long term care is very expensive and is not typically covered by traditional health care plans. Having a long term care need without adequately planning is usually financially devastating. The government will require that you be destitute before they pay for it. Who wants to rely on government care and be poverty stricken?
Insurance companies of course offer long term care products and these can be very expensive if then insured waits too long to purchase. Once a chronic condition exists getting private insurance may proving to be a daunting task. Having large amounts of cash in retirement accounts can be a great security blanket but long term care costs can easily run into the 6-7 thousand a month range. Funds become depleted quickly at that rate of consumption. Planning is critical. Consultations with professional financial planners is a wise idea.
Furthermore young retirees in their early 60s should consider proximity to long term care facilities and or services when relocating. I have spent a fair amount of time writing about neighborhoods and great places to retire to, but what about long term care?
Vancouver, WA is a big enough city that it has a virtual cornucopia of offerings in the long term care arena. Relocating to Vancouver provides retirees with the peace of mind that they will not have move far or even at all should they need assisted living or convalescent care.
Planning ahead makes for a much easier transition when the time comes for assistance. Often times couples find themselves with one in care and the other still at home. A short drive is always better than a long drive for visits. Above and beyond all the great reasons to relocate to Washington State, taxes, moderate weather, etc. proximity to these types of facilities should also be taken into consideration.
Vancouver proves again to be a very wise choice for retirees.
Thursday, August 14, 2014
Washougal's Orchard Hills Golf Club is a great alternative to Fairway Village
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Quite some time ago I wrote and article about Fairway Village in Vancouver's Cascade Park as a great retirement golf community. It still is, but it may not be everyone's 'cup of tea'. If you like golf and you are looking for something a little less 'over 55', then a new development in Washougal might be a great prescription.Orchard Hills Golf and Country Club is great spot away from the hustle and bustle of Vancouver and Portland but in close enough to get to the airport in 20 minutes. Recently a few subdivisions have popped up near the 14th and 15th holes including some gorgeous attached 'duets' with upscale finishes and 1855 square feet of living space. These new units are ideal for retirees as they feature two bedrooms and two baths and a very spacious kitchen and living area. The units are running in the $295k range and are a great alternative to the busier Fairway Village. These units are right on the course.
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Washougal is a fabulous spot for those who want the convenience of city life without giving up that small town ambiance. From the east end of the golf course you sit right at the entrance to the Columbia River Gorge National Scenic Area and yet a ride to PDX is only 17 miles away.
Washougal is a fabulous location to retire with all of the benefits of living in Washington and shopping in Oregon. The added bonus of spectacular scenery, great views, close in golf and easy access to the amazing Columbia River Gorge. Check it out. Washougal could be your ticket to a fabulous retirement.
Thursday, July 31, 2014
Calculating a Comfortable Retirement
This time I would like to quote an article from Time Magazine about how to calculate your number. The answer to the question, "How much money do you need to retire comfortably"? There are many variables to determining retirement needs and this certainly cannot replace the good counsel of a professional financial planner. But at best it should awaken you to the cold hard realities of retirement.
Excepted from Time magazine
"To help guide you to your number, financial firms have devised income and actuarial models that come up with a target multiple of your final year’s salary. Benefits consultant Aon Hewitt says that by age 65 an average full-career worker needs to have banked 11 times annual pay. That means a household earning $75,000 a year would need to have saved $825,000. Work to age 67 and the multiple drops to 9.4 ($705,000); retire at age 62 and the multiple rises to 13.5 ($1 million).
The fund company T. Rowe Price advises a multiple of 12 times final pay, while Fidelity calculates that a multiple of eight times pay will do the trick. All the firms use slightly different assumptions. But you can see that they are in the same ballpark and, more importantly, that it’s a big park.
Looking at it another way, BTN Research estimates that, assuming 5% average annual investment returns, for every $1,000 of monthly income you want over a 30-year retirement, you need $269,000 in the bank. Let’s consider that same household making $75,000 a year. To replace the commonly recommended 80% of income in retirement — or $60,000 in this case — the household would need $5,000 a month. In this calculation, this household’s number is $1.35 million, or 18 times final pay. A higher investment return would bring the numbers down.
Finally, there is the approach that Dallas Salisbury, president of the Employee Benefit Research Institute offers: You need 33 times what you expect to spend in your first year of retirement—after subtracting Social Security benefits. Let’s take that same household, which spends every penny of its $60,000 income in retirement. Say this household collects $20,000 a year in Social Security. That leaves it spending $40,000 from other sources. So this household still needs a nest egg of $1.32 million, or just shy of 18 times final pay.
Don’t be discouraged. These are just estimates. A household with two good traditional pensions plus Social Security, and zero savings, might be in fine shape while a household with $1 million in the bank and no guaranteed lifetime income ends up struggling. That’s why your spending–not your savings–may be the most important part of the equation.
Basing your number on final pay has another flaw. What if you are frugal and live on far less than you earn? The household that earns $75,000 a year but saves 20% and thus spends only $60,000 need not squirrel away as much as a household earning $60,000 a year but which through credit spends $75,000. The latter household, by the way, is headed for real trouble — and, sadly, this situation is not uncommon.
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What you spend determines your nest egg needs. “In retirement, the key is to make sure your burn is less than your earn,” says John Sweeney, executive vice president of planning and advisory services at Fidelity. Everyone’s situation is different, which is why you need to think through your own case.
An array of online calculators can help you sort this out. Some key considerations:
Life expectancy The Society of Actuaries estimates that for a married 65-year-old couple, there is a 45% chance of one person reaching 90 and a 20% chance one will reach 95. Plan for a long life.
Medical costs EBRI estimates that a 65-year-old couple in 2019 that does not have any employer-provided health benefits will need $450,000 to have a 50% chance of funding health care expenses not covered by Medicare. Even with employer benefits, there is a 50% chance that out-of-pocket expenses will reach $268,000. Plan for this big expense.
Inflation Over 30 years, expect inflation to cut your spending power in half. You would need nearly $12,000 today to match the spending power of $5,000 in 1982.
Investment style You may never reach your number if you hide from stocks. Bond yields and short-term interest rates are so low that, adjusted for inflation, you may get little or no growth for years.
Savings rate A good rule of thumb is saving 15% of income each year throughout your working life. That puts you on track to replace about 85% of your final year’s salary for 30 years of retirement without worrying about some gigantic number. If you have not been saving at that rate, you may need to adjust your savings plan or your retirement expectations.
Most planners will tell you that there is no magic number, and they are right. Life has a way of throwing curveballs when you least expect them and there are so many unknowables like how long you will live and what the markets will do that you need to reassess your plan often as you approach retirement—while you still have time to change your savings patterns and choose to work longer if you must.
So what can you do now?
Start with a list of all your monthly expenses. Go through it looking for areas that you can or will reduce in retirement. Now consider any new expenses like escalating health care costs and travel and hobbies. Identify which of these is a fixed cost and which is discretionary. You’ll need a big enough number to secure an income stream that covers all fixed costs. This is your base number, the lowest one that you should consider acceptable."
Excepted from Time magazine
"To help guide you to your number, financial firms have devised income and actuarial models that come up with a target multiple of your final year’s salary. Benefits consultant Aon Hewitt says that by age 65 an average full-career worker needs to have banked 11 times annual pay. That means a household earning $75,000 a year would need to have saved $825,000. Work to age 67 and the multiple drops to 9.4 ($705,000); retire at age 62 and the multiple rises to 13.5 ($1 million).
The fund company T. Rowe Price advises a multiple of 12 times final pay, while Fidelity calculates that a multiple of eight times pay will do the trick. All the firms use slightly different assumptions. But you can see that they are in the same ballpark and, more importantly, that it’s a big park.
Looking at it another way, BTN Research estimates that, assuming 5% average annual investment returns, for every $1,000 of monthly income you want over a 30-year retirement, you need $269,000 in the bank. Let’s consider that same household making $75,000 a year. To replace the commonly recommended 80% of income in retirement — or $60,000 in this case — the household would need $5,000 a month. In this calculation, this household’s number is $1.35 million, or 18 times final pay. A higher investment return would bring the numbers down.
Finally, there is the approach that Dallas Salisbury, president of the Employee Benefit Research Institute offers: You need 33 times what you expect to spend in your first year of retirement—after subtracting Social Security benefits. Let’s take that same household, which spends every penny of its $60,000 income in retirement. Say this household collects $20,000 a year in Social Security. That leaves it spending $40,000 from other sources. So this household still needs a nest egg of $1.32 million, or just shy of 18 times final pay.
Don’t be discouraged. These are just estimates. A household with two good traditional pensions plus Social Security, and zero savings, might be in fine shape while a household with $1 million in the bank and no guaranteed lifetime income ends up struggling. That’s why your spending–not your savings–may be the most important part of the equation.
Basing your number on final pay has another flaw. What if you are frugal and live on far less than you earn? The household that earns $75,000 a year but saves 20% and thus spends only $60,000 need not squirrel away as much as a household earning $60,000 a year but which through credit spends $75,000. The latter household, by the way, is headed for real trouble — and, sadly, this situation is not uncommon.
(MORE: Etsy’s Handmade Wars)
What you spend determines your nest egg needs. “In retirement, the key is to make sure your burn is less than your earn,” says John Sweeney, executive vice president of planning and advisory services at Fidelity. Everyone’s situation is different, which is why you need to think through your own case.
An array of online calculators can help you sort this out. Some key considerations:
Life expectancy The Society of Actuaries estimates that for a married 65-year-old couple, there is a 45% chance of one person reaching 90 and a 20% chance one will reach 95. Plan for a long life.
Medical costs EBRI estimates that a 65-year-old couple in 2019 that does not have any employer-provided health benefits will need $450,000 to have a 50% chance of funding health care expenses not covered by Medicare. Even with employer benefits, there is a 50% chance that out-of-pocket expenses will reach $268,000. Plan for this big expense.
Inflation Over 30 years, expect inflation to cut your spending power in half. You would need nearly $12,000 today to match the spending power of $5,000 in 1982.
Investment style You may never reach your number if you hide from stocks. Bond yields and short-term interest rates are so low that, adjusted for inflation, you may get little or no growth for years.
Savings rate A good rule of thumb is saving 15% of income each year throughout your working life. That puts you on track to replace about 85% of your final year’s salary for 30 years of retirement without worrying about some gigantic number. If you have not been saving at that rate, you may need to adjust your savings plan or your retirement expectations.
Most planners will tell you that there is no magic number, and they are right. Life has a way of throwing curveballs when you least expect them and there are so many unknowables like how long you will live and what the markets will do that you need to reassess your plan often as you approach retirement—while you still have time to change your savings patterns and choose to work longer if you must.
So what can you do now?
Start with a list of all your monthly expenses. Go through it looking for areas that you can or will reduce in retirement. Now consider any new expenses like escalating health care costs and travel and hobbies. Identify which of these is a fixed cost and which is discretionary. You’ll need a big enough number to secure an income stream that covers all fixed costs. This is your base number, the lowest one that you should consider acceptable."
Thursday, July 17, 2014
How Important is Weather to Retirees?
Weather certainly plays a significant role in determining a location to move when one decides to retire. This is quite evident when looking at places like Southern California, Arizona, Las Vegas and Florida with their huge population of people in the over 55 crowd. But how important really is weather? I have spent a fair amount of time trying to get to the bottom of it and the results thus far are quite interesting, but not really surprising.
People who spent the bulk of their lives in places like New England and the Upper Mid-west seem to have the highest desire to retire in the sun-belt. That seems like the classic, "no-brainer". People from these areas have lived through what I called "Kill-U-Cold" winters and often faced snow and ice covered roads for months on end. So when perusing the forums and reading comments I find these folks be the ones saying things like; "I'm not shoveling snow anymore" or "I'm through being cold".
When I looked at the comments and postings from people in more mild climates the weather suddenly fell way down on the list of things that make a community desirable. Suddenly it was more about taxes, activities, proximity to family, etc. These folks talked about weather without the same demanding tone. It's more about the extremes than really. They don't want "Kill-U-Cold", but a little snow and rain isn't a deal breaker for them.
This may explain why I keep finding communities in Washington State falling onto "top ten best" lists for retirees. The latest one I found was "Top Ten Best Beach Communities". It appeared as a link form a retirement oriented lifestyle blog. Port Townsend, Washington made the list. There are no palm trees in Port Townsend and you won't likely have to worry about heatstroke... ever. Yet there it is; a top destination for retirees looking for a beach/waterfront experience. Port Townsend isn't even on the Pacific Ocean, it actually fronts the Puget Sound. It is a great town however.
A few posts back I listed general climate information for a variety of locations in Washington State. Take a look at them here.
In my experience as a Realtor®, I find that there are two overriding things that bring retirement age people to Washington State. Proximity to family and taxation. This is somewhat anecdotal but I think it holds true to reality. Washington State is not only a great place to retire, but it is a wonderful place to raise a family. Our schools are highly rated and our state constitution has some of the strongest pro-schools language in the nation. Washington has also weathered the roller coaster economy better than most areas in the country. This brings families to the the state and many retirees want to be close to those adorable little grandchildren. I have blathered on a great deal about taxes so by now you know that we stand strong in that arena for retirees. See more info in this post.
There is a third interesting anecdote I find recurring; many people who come here from California cite a desire to experience four seasons. Most Californians only have two season and many have only one. These folks don't want to live in the bitter cold winters, but they have suggested they feel like they are missing out on the four season experience. I can relate to that as I like having four distinct seasons. I actually wish Vancouver got a little more snow each year.
There are many reasons to move to Washington no matter what stage in life you are at.
People who spent the bulk of their lives in places like New England and the Upper Mid-west seem to have the highest desire to retire in the sun-belt. That seems like the classic, "no-brainer". People from these areas have lived through what I called "Kill-U-Cold" winters and often faced snow and ice covered roads for months on end. So when perusing the forums and reading comments I find these folks be the ones saying things like; "I'm not shoveling snow anymore" or "I'm through being cold".
When I looked at the comments and postings from people in more mild climates the weather suddenly fell way down on the list of things that make a community desirable. Suddenly it was more about taxes, activities, proximity to family, etc. These folks talked about weather without the same demanding tone. It's more about the extremes than really. They don't want "Kill-U-Cold", but a little snow and rain isn't a deal breaker for them.
This may explain why I keep finding communities in Washington State falling onto "top ten best" lists for retirees. The latest one I found was "Top Ten Best Beach Communities". It appeared as a link form a retirement oriented lifestyle blog. Port Townsend, Washington made the list. There are no palm trees in Port Townsend and you won't likely have to worry about heatstroke... ever. Yet there it is; a top destination for retirees looking for a beach/waterfront experience. Port Townsend isn't even on the Pacific Ocean, it actually fronts the Puget Sound. It is a great town however.
A few posts back I listed general climate information for a variety of locations in Washington State. Take a look at them here.
In my experience as a Realtor®, I find that there are two overriding things that bring retirement age people to Washington State. Proximity to family and taxation. This is somewhat anecdotal but I think it holds true to reality. Washington State is not only a great place to retire, but it is a wonderful place to raise a family. Our schools are highly rated and our state constitution has some of the strongest pro-schools language in the nation. Washington has also weathered the roller coaster economy better than most areas in the country. This brings families to the the state and many retirees want to be close to those adorable little grandchildren. I have blathered on a great deal about taxes so by now you know that we stand strong in that arena for retirees. See more info in this post.
There is a third interesting anecdote I find recurring; many people who come here from California cite a desire to experience four seasons. Most Californians only have two season and many have only one. These folks don't want to live in the bitter cold winters, but they have suggested they feel like they are missing out on the four season experience. I can relate to that as I like having four distinct seasons. I actually wish Vancouver got a little more snow each year.
There are many reasons to move to Washington no matter what stage in life you are at.
Thursday, July 3, 2014
Washington's Retirement Rep is Getting Stronger
Ten years ago the popular Trilogy adult communities built by Shea Homes had but one subdivision in Washington state and that was in the expensive Redmond area. Now Shea has two more subdivisions in Lacey and Bonney Lake to keep up with demand here in the Evergreen State. They have as many here as they do in Arizona and more than Florida!
Yes, it seems our "rep" is growing and many retirees are flocking to the tax friendly communities in the state named after our first president. Below is a link to a recent affirmation that Washington is a premium destination for the Baby Boomer looking to settle down.
http://www.topretirements.com/state/washington.html
Yes, it seems our "rep" is growing and many retirees are flocking to the tax friendly communities in the state named after our first president. Below is a link to a recent affirmation that Washington is a premium destination for the Baby Boomer looking to settle down.
http://www.topretirements.com/state/washington.html
Thursday, June 19, 2014
What about Condos?
Many retirees are looking for a smaller home and one with less maintenance. It is hard to get a house with less "maintenance" than a condominium. A condo differs from other forms of real property in that the owner has title to the interior space in fee simple (absolute sole ownership) and holds title to the whole complex with all other owners as tenants in common. By owning only the interior space, the owner need only keep that interior up. Should any problems occur with the structure such as the roof or the siding, he simply turns that over to the local HOA to deal with.
The HOA is the blessing and the curse of a condo. Yes it is this entity that keeps the roof and siding good, pays to maintain the grounds, parking, etc. But this HOA organization also must be responsible to provide these services. It must be run well. Furthermore, some HOAs can be very "gestapo" about rules and regulations.
Condo living is not for everyone. It is however great for many retirees that want a nice place to live and time to enjoy life outside of their home! The less time you have to work on your house, the more time you have for exciting and fun activities. Condos also often have amenities like a pool or work out area. For the modern retiree many condo complexes are designed for senior living with recreational activities that bring opportunity to socialize.
If a condo is something you might be interested in there are a few things to consider. First is the HOA; make sure it is well funded and managed. HOAs are required by law in most states to keep and provide for prospective buyers and existing owners a balance sheet and projections. Understand that you as an owner will have no discretion over the exterior of the building other than your HOA member vote. Talk to existing tenants to see if there are any annoying HOA-isms that might bother you in the future. If you have a pet or a boat or several cars, be certain the facility can accommodate your needs. Pets are sometimes limited in size or quantity in an HOA environment. Make sure the HOA dues are manageable in your budget. if you are borrowing to purchase the bank will qualify you including the HOA payment. This will lower the available funds you have to borrow.
There are some great condos out there and right now they are one of the few remaining values in the market place. Condos have yet to spike back up in price. The next year or so could prove to be the last of the screaming condo deals. If the care-free living style afforded by condos is your cup of tea then now is the time to act.
The HOA is the blessing and the curse of a condo. Yes it is this entity that keeps the roof and siding good, pays to maintain the grounds, parking, etc. But this HOA organization also must be responsible to provide these services. It must be run well. Furthermore, some HOAs can be very "gestapo" about rules and regulations.
Condo living is not for everyone. It is however great for many retirees that want a nice place to live and time to enjoy life outside of their home! The less time you have to work on your house, the more time you have for exciting and fun activities. Condos also often have amenities like a pool or work out area. For the modern retiree many condo complexes are designed for senior living with recreational activities that bring opportunity to socialize.
If a condo is something you might be interested in there are a few things to consider. First is the HOA; make sure it is well funded and managed. HOAs are required by law in most states to keep and provide for prospective buyers and existing owners a balance sheet and projections. Understand that you as an owner will have no discretion over the exterior of the building other than your HOA member vote. Talk to existing tenants to see if there are any annoying HOA-isms that might bother you in the future. If you have a pet or a boat or several cars, be certain the facility can accommodate your needs. Pets are sometimes limited in size or quantity in an HOA environment. Make sure the HOA dues are manageable in your budget. if you are borrowing to purchase the bank will qualify you including the HOA payment. This will lower the available funds you have to borrow.
There are some great condos out there and right now they are one of the few remaining values in the market place. Condos have yet to spike back up in price. The next year or so could prove to be the last of the screaming condo deals. If the care-free living style afforded by condos is your cup of tea then now is the time to act.
Wednesday, June 4, 2014
Retiring? Want a real winter but hate shoveling?
Real estate tends to perk up this time of year. The sun is shining, the sky is blue, and the temperature is warm. It is easy to get sucked into the greatest summer weather on this planet. But what about winter? Many retirees would love to have a little winter but hate the idea of shoveling snow. Here in Washington State we have options for your winter wonderland. There are places in the Evergreen State like Mount Baker, that have snow so heavy it rivals anywhere in the world. Fortunately those are places people visit rather than live. East of the Cascade Mountains delivers sunnier weather that is warmer in the summer and colder in the winter than this side here in the west. There are many areas that offer an in-between winter experience.
Here in America's Vancouver we have a very mild winter. It gets chilly but rarely gets truly cold. Heavy snow is a twice a decade event and light snow is sporadic every year throughout the winter from late November to early March. Not much shoveling here. As you move up in elevation so your shovel moves up in usage. Those gorgeous view homes up above 1000 feet will see on average double the snowfall down in the city. Move up another 1000 and it's triple.West of the Cascades you will find the legendary Pacific Northwest clouds and showers. East of the Cascades is California Dry.
East of those mighty Cascade mountains the mercury will plunge down below zero at times and they tend to stay cold from December through February. The good news over there is that those same mountains that block the warm moist air of the Pacific Ocean also block allot of the clouds. Precipitaion on the eastside is dry, dry, dry. So it does snow often but in small doses. Again places like Ellensburg and the Tri-Cities don't have a heavy snow shovel workout.Spokane will give you a healthy dose of snow with nearly 4 feet falling annually and that rivals Minneapolis. Spokane is not quite as bitter cold as Minnesota and has a shorter winter. If you hate the shovel stay out of the far eastern part of the state.
In case you are looking around in Washington State I have all these little charts for you to consider regarding snowfall and temps. Data was collected from the Western Climate Data Center.Thursday, May 22, 2014
Reverse Mortgage Purchase a Viable Option
The Reverse Mortgage has been around for quite awhile but many people are unaware that the FHA has made them very viable and affordable in recent years. Early reverse mortgages were burdened with outrageously high fees that made them a poor option for nearly everyone. The feds however cracked down on the less desirable practices and the result is a fabulous opportunity to get paid for living in your own house.
The ideal situation for a reverse mortgage for the retiree looking to downsize that giant house that the kids were raised in. Let's say a homeowner is 62 years old and lives in a house that is worth $300,000 and has a debt owed of $150,000. That homeowner can sell the house and walk with roughly $130,000 in cash. Options include buying a smaller house valued at say $225,000 and putting $100,000 down and making a small payment for the next 30 years which is likely the rest of his life.
What if he were to take that $130,000 profit and put it down on a reverse mortgage for a nice smaller but upscale home valued at $260,000. Now that homeowner has a nicer home say in Fairway Village and instead of making payments to the bank the he lives in the house free of charge until he dies. Each month interest is added to the principle balance.
After the reverse mortgage is over the bank will sell the home. If the home clears more money than is owed after the owner dies, his estate will receive the remaining proceeds. If the balance owed is higher than the proceeds the bank takes that as a loss and no action is due on the part of the heirs.
These programs are not for everyone, but for many they are ideal. Any person nearing the age of 62 should sit down with a qualified reverse mortgage professional and take a look at the options. Although the cost of doing a reverse mortgage is much better than it used to be, they are still a bit more expensive than a traditional loan.
I have seen many happy folks retire right here in the great state of Washington with a reverse mortgage and cash to spend on the things you are supposed to do when you retire. Relax, travel and have fun!
The ideal situation for a reverse mortgage for the retiree looking to downsize that giant house that the kids were raised in. Let's say a homeowner is 62 years old and lives in a house that is worth $300,000 and has a debt owed of $150,000. That homeowner can sell the house and walk with roughly $130,000 in cash. Options include buying a smaller house valued at say $225,000 and putting $100,000 down and making a small payment for the next 30 years which is likely the rest of his life.
What if he were to take that $130,000 profit and put it down on a reverse mortgage for a nice smaller but upscale home valued at $260,000. Now that homeowner has a nicer home say in Fairway Village and instead of making payments to the bank the he lives in the house free of charge until he dies. Each month interest is added to the principle balance.
After the reverse mortgage is over the bank will sell the home. If the home clears more money than is owed after the owner dies, his estate will receive the remaining proceeds. If the balance owed is higher than the proceeds the bank takes that as a loss and no action is due on the part of the heirs.
These programs are not for everyone, but for many they are ideal. Any person nearing the age of 62 should sit down with a qualified reverse mortgage professional and take a look at the options. Although the cost of doing a reverse mortgage is much better than it used to be, they are still a bit more expensive than a traditional loan.
I have seen many happy folks retire right here in the great state of Washington with a reverse mortgage and cash to spend on the things you are supposed to do when you retire. Relax, travel and have fun!
Thursday, May 8, 2014
Will You Have Enough to Retire?
This blog talks allot about the joys of retiring to the wonderful state of Washington. But will you have enough to retire at all? Their are alarming reports that nearly half of all middle income earners will retire poor. This makes the low taxation of retirees in Washington less of an advantage.
Retirees should consider value opportunities if their retirement is going to rely heavy on Social Security and part time work. Washington State does offer some great values at the coast and even in close to the metro area here in Vancouver. Check out my beach information here.
The general rule has been that you need about 20 times your annual income at age 62 in order to maintain your lifestyle throughout retirement. Most middle income earners don't have even one year's income in their retirement account.
Many will choose to work longer, maybe until they are 70 years old. Yikes that may or may not work out. Planning for retirement is very important. I wrote a book about finance and I am not adequately prepared for my own retirement which in theory looms menacingly close to the now.
Downsizing your current home before you retire could be a great way to stockpile money for your actual retirement. If you are 50 years old and already in the empty nest mode, perhaps a major home downsize now is in order. The real estate market is showing a resurgence locally in that "big move up" house market. This could be an opportunity to take advantage if you already live locally or if these conditions exist where you live now.
Washington State is a great place to retire, but you still have to be prepared. Check out my book "Don't Panic" on Amazon.com.
Retirees should consider value opportunities if their retirement is going to rely heavy on Social Security and part time work. Washington State does offer some great values at the coast and even in close to the metro area here in Vancouver. Check out my beach information here.
The general rule has been that you need about 20 times your annual income at age 62 in order to maintain your lifestyle throughout retirement. Most middle income earners don't have even one year's income in their retirement account.
Many will choose to work longer, maybe until they are 70 years old. Yikes that may or may not work out. Planning for retirement is very important. I wrote a book about finance and I am not adequately prepared for my own retirement which in theory looms menacingly close to the now.
Downsizing your current home before you retire could be a great way to stockpile money for your actual retirement. If you are 50 years old and already in the empty nest mode, perhaps a major home downsize now is in order. The real estate market is showing a resurgence locally in that "big move up" house market. This could be an opportunity to take advantage if you already live locally or if these conditions exist where you live now.Washington State is a great place to retire, but you still have to be prepared. Check out my book "Don't Panic" on Amazon.com.
Thursday, April 24, 2014
How Far Will Someone Drive to Live?
Originally posted in Real Estate with Realtor Rod, April 11th, 2014
I recently took a fabulous listing in Yacolt, WA. This house was completely remodeled down to the last nail. Well, almost the last nail anyway ;) The home is gorgeous and is priced at just $198k. This house in Vancouver wouldn't last the day at that price but in Yacolt, it sits quietly awaiting the lucky person that finds her. Yacolt isn't really all that far out. In fact it is a great little town of around 1,200 people nestled in the mountains at the entrance to the forest. There is a library, school, town hall, tavern, country store, etc. For the more urban amenities one need only travel to Battle Ground about 15 minutes away. Freddies, Safeway, Walmart (opening soon) and everything else you need on regular basis is right there. Virtually everything remaining can be had in the 'Couv' or Portland. In fact PDX is 45 minutes away according to map-quest it is 31 miles. That's about the same time and distance as Hillsboro, OR is to PDX.
It is all perspective. Yacolt is a small town and up in the hills. The scenery is breathtaking whereby Hillsboro in contrast is predominately urban all the way to the airport. During rush hour, Yacolt is faster to PDX than Hillsboro. Yet there is resistance to rural areas that are essentially closer than some urban counterparts to the "center" of the metro area.
For buyers this means there could be wonderful opportunities for tremendous value in a short drive. Rural towns lack some close in convenience but gain that amazing small town ambiance that cannot be duplicated in the city. Too many buyers miss a golden chance at the kind of living most people say they want in surveys, yet act differently when it comes time to look for a home.
here in Southwest Washington we have a variety of these less populated places that offer a chance to get away from it all with out getting too far away. La Center, Woodland, Amboy, Yacolt, Rural Washougal, etc. Before you dismiss that great house in that cute little town, take a drive and check it out, you may just become a believer.
Thursday, April 10, 2014
Over 55 Communities for those on a Budget
I have spent a fair amount of time chattering on about some of the spectacular places in Southwest Washington that one might choose to retire to. But what about a retiree that doesn't want to sink the whole 401k into a residence? What about retiring on a budget?
That can be achieved and Vancouver, Washington offers several affordable alternatives to high prices. There are several over 55 communities with manufactured homes in Clark County but two of them stand out as a strong value proposition for the discriminating retiree on budget.
Vista Del Rio in Fisher's Landing, Vancouver and Cascade Park Estates in Vancouver. The former is located adjacent to a very nice neighborhood of upscale homes priced well into the 300s. The park is conveniently located near Fairway Village (see post on Fairway Village here.). It is also quite close to the SR14 freeway, PDX and the amazing 164th Avenue retail and business corridor of the East side of the 'Couv'. This community is built along the gentle slopes at the bottom of Prune Hill. Some of the units offer nice views across the river to Portland and the West Hills. The area is a mix of older 1980s and newer 2000s homes. The park has a nice clubhouse with all the amenities to keep a socialite happy. It also offers a nice pool and indoor recreation as well. Homes in this community can be found between $50,000 and $120,000. Ground lease fees will probably run around $500 per month.
Cascade Park Estates offers less in the way of social and recreational activity and more along the lines of security. It is a gated community. The homes are all newer than 1993 and the place is clean as a whistle. It is also very well located at 164th and SE 1st which is right in the heart of the East side business and retail area. Everything is close, doctor, dentist, shopping the whole bit. Prices here are a touch higher than Vista Del Rio with units running $70,000 to well above $140,000. Space rent running a bit higher as well.
I sold my in-laws a unit in Cascade and they are delighted. They love the location and they love all the extra cash they have for Cruises, Travel, Dining, etc. Their home is gorgeous and the overall cost is low.
A high quality manufactured home in nice community like these can be an excellent way to free up some of the "fixed" income and have some fun.
That can be achieved and Vancouver, Washington offers several affordable alternatives to high prices. There are several over 55 communities with manufactured homes in Clark County but two of them stand out as a strong value proposition for the discriminating retiree on budget.
Vista Del Rio in Fisher's Landing, Vancouver and Cascade Park Estates in Vancouver. The former is located adjacent to a very nice neighborhood of upscale homes priced well into the 300s. The park is conveniently located near Fairway Village (see post on Fairway Village here.). It is also quite close to the SR14 freeway, PDX and the amazing 164th Avenue retail and business corridor of the East side of the 'Couv'. This community is built along the gentle slopes at the bottom of Prune Hill. Some of the units offer nice views across the river to Portland and the West Hills. The area is a mix of older 1980s and newer 2000s homes. The park has a nice clubhouse with all the amenities to keep a socialite happy. It also offers a nice pool and indoor recreation as well. Homes in this community can be found between $50,000 and $120,000. Ground lease fees will probably run around $500 per month.
Cascade Park Estates offers less in the way of social and recreational activity and more along the lines of security. It is a gated community. The homes are all newer than 1993 and the place is clean as a whistle. It is also very well located at 164th and SE 1st which is right in the heart of the East side business and retail area. Everything is close, doctor, dentist, shopping the whole bit. Prices here are a touch higher than Vista Del Rio with units running $70,000 to well above $140,000. Space rent running a bit higher as well.I sold my in-laws a unit in Cascade and they are delighted. They love the location and they love all the extra cash they have for Cruises, Travel, Dining, etc. Their home is gorgeous and the overall cost is low.
A high quality manufactured home in nice community like these can be an excellent way to free up some of the "fixed" income and have some fun.
Thursday, March 27, 2014
Fisherman's Paradise
The Pacific Northwest has a wonderful bounty in natural resources. Our fishing is world class. here on the west side of the Cascades there seems to be a river, stream or lake withing walking distance of any random point on a map.
This is a report on spring Chinook in the Columbia from the State of Washington.
Plenty of good reasons to renewfishing and hunting licenses soonSpring chinook salmon are moving into the lower Columbia River, several eastside lakes open for trout fishing March 1, and razor-clam digs are scheduled this month - including the first dig of the season on morning tides.These fisheries are just the first of many set to open in the weeks ahead, and the year’s first hunting seasons aren’t far behind. A spring wild turkey season for hunters under age 16 is scheduled April 5-6 prior to the start of the general spring turkey hunt April 15.With a new season of outdoor adventures about to begin, Washingtonians might want to consider purchasing 2014-15 fishing and hunting licenses before current licenses expire at midnight March 31.“We encourage people to renew their fishing and hunting licenses early, so they can take advantage of all the great recreational opportunities available throughout the year,” said Bill Joplin, licensing manager for the Washington Department of Fish and Wildlife (WDFW). “There’s no advantage in waiting and letting those opportunities slip by.”The cost of fishing and hunting licenses remains the same as last year. All fees included, a resident adult freshwater fishing license is $29.50; saltwater is $30.05; shellfish/seaweed is $16.30; and a combination license is $54.25. Resident hunting licenses vary with package options, ranging from a small-game license at $40.50 to a deer/elk/cougar/bear combination license for $95.50.Most annual licenses include a WDFW vehicle-access pass, which gives the bearer access to more than 700 WDFW water access sites throughout the state. Or, for $35, individuals can purchase an annual Discover Pass, which also provides vehicle access to state parks and other state lands.Fishing licenses, hunting licenses and the Discover Pass are all available online (https://fishhunt.dfw.wa.gov/), by phone (1-866-246-9453) and from license dealers around the state.
This is just another great reason to call Washington State your home to retire.
This is a report on spring Chinook in the Columbia from the State of Washington.
Plenty of good reasons to renewfishing and hunting licenses soonSpring chinook salmon are moving into the lower Columbia River, several eastside lakes open for trout fishing March 1, and razor-clam digs are scheduled this month - including the first dig of the season on morning tides.These fisheries are just the first of many set to open in the weeks ahead, and the year’s first hunting seasons aren’t far behind. A spring wild turkey season for hunters under age 16 is scheduled April 5-6 prior to the start of the general spring turkey hunt April 15.With a new season of outdoor adventures about to begin, Washingtonians might want to consider purchasing 2014-15 fishing and hunting licenses before current licenses expire at midnight March 31.“We encourage people to renew their fishing and hunting licenses early, so they can take advantage of all the great recreational opportunities available throughout the year,” said Bill Joplin, licensing manager for the Washington Department of Fish and Wildlife (WDFW). “There’s no advantage in waiting and letting those opportunities slip by.”The cost of fishing and hunting licenses remains the same as last year. All fees included, a resident adult freshwater fishing license is $29.50; saltwater is $30.05; shellfish/seaweed is $16.30; and a combination license is $54.25. Resident hunting licenses vary with package options, ranging from a small-game license at $40.50 to a deer/elk/cougar/bear combination license for $95.50.Most annual licenses include a WDFW vehicle-access pass, which gives the bearer access to more than 700 WDFW water access sites throughout the state. Or, for $35, individuals can purchase an annual Discover Pass, which also provides vehicle access to state parks and other state lands.Fishing licenses, hunting licenses and the Discover Pass are all available online (https://fishhunt.dfw.wa.gov/), by phone (1-866-246-9453) and from license dealers around the state.
This is just another great reason to call Washington State your home to retire.
Thursday, March 13, 2014
Golfing in Southwest Washinton
There are roughly 75 public golf courses within 30 miles of Vancouver, WA. Seventy Five! 30 miles too far to drive? Yeah,me too; narrow the reach to just 10 miles and you still have an astounding 17 choices. With this kind of selection any player at any level can find multiple places to play.
Personally I am a pretty weak player. I have played at King City as well as Glendoveer and Heron Lakes in Portland; Camas Meadows and Green Mountain in Camas; Fairway Village, Green Meadows, Lake View, Pine Crest, and Hartwood in Vancouver; Tri Mountain in Ridgefield, Lewis River in Woodland and The Cedars in Battle Ground.
These courses are a real mixed bag from easy and kid friendly to links that are challenging enough for Tiger Woods. I have not even begun to tickle the surface of great golf opportunities in Southwest Washington and our nearby neighbor Portland, OR.
Check out more information on local golf on my golf page here.
When choosing to retire in Washington State you can keep more of your income with our highly rated, retiree friendly tax system. Then you can spend extra cash on the latest high tech golf gear and the finest links. It is 'tee' time in Washington State, come enjoy the Evergreen state and keep more of your pension in your pocket!
Sunday, March 2, 2014
Fairway Village is a Fair Place to Retire
Some retirees want to stay in close to town. Services such as shopping and medical offices are nice and close making for easy access with less time and hassle. That frees up more time for the fun part of retirement living.Fairway Village is a community built around a beautiful 9-hole par 34 golf course, in the Cascade Park area of Vancouver, Washington. The community is restricted for persons 55 years and older. There are a variety of homes in the community ranging from condominiums to large single family homes. Many wonderful single level, 2 and 3 bedroom homes are right on the golf course. The 'village' has a nice clubhouse with an in-ground pool and year round activities.
Visit the Fairway Village HOA site for more info about the community.
As a Realtor®, I always enjoy showing and listing homes in Fairway Village. It is just such a great location for retirees. Almost everything you need on a regular basis is inside a one mile radius. Quite a bit of services are well within comfortable walking distance. If you do have to drive it will be a short drive
What makes this location so enticing is a combination of location and neighborhood quality. Fairway Village maintained solid footing even as the real estate market struggled in 2009-2011. It is just that desirable.
164th and Mill Plain Blvd. is the hub of the East Side. Fairway Village is conveniently located at that hub. Here are some distances (linear miles) to nearby services, from the Fairway Village clubhouse.
- 0.40 miles to IHOP Restaurant and nearby professional center
- 0.61 miles to Village Public Storage
- 0.62 miles to Fred Meyer (Grocery/Department store)
- 0.62 miles to East Vancouver Public Transit Hub
- 0.67 miles to Cascade Health Club
- 0.76 miles to Canepa Dental or Oasis Dental
- 0.79 miles to Regal Cinema Cascade 16 movie theatre
- 0.80 miles to Hwy 14 on ramp at 164th Avenue
- 1.03 miles to 164th and Mill Plain (a virtual cornucopia of shopping and services including, Red Robin, Target, Old Spaghetti Factory, Ross, Kohl's, Olive Garden and quite literally hundreds more)
- 1.50 miles to Vancouver Clinic (popular local medical office)
- 1.80 miles to Kaiser Permanente Cascade Park
- 2.07 miles to 192nd and Mill Plain (Walmart, Home Depot, Lowes, JC Penny, 5 guys and much more)
- 3.46 miles to Camas Meadows Golf Course
- 3.64 miles to Peach Health Southwest Washington Medical Center (Major Hospital)
- 3.87 miles to Portland International Airport
- 4.15 miles to Green Mountain Golf Course
- 4.92 miles to Lacamas Lake and Lacamas Park
- 5.25 miles to Westfield Vancouver Mall
- 8.16 miles to Downtown Vancouver
- 9.91 miles to Downtown Portland
I took the liberty of pulling some current listings in the Fairway Village community.
$295,000
The home sits on the golf course with easy access and a great view from the backyard. This home features a spacious floor plan all on one level totaling 1685 square feet. There are two bedrooms and two bathrooms
$350,000
This fabulous home sits right on the golf course with a great view from the backyard. This is a very spacious one level home with a whooping 1872 square feet of living space. it is also a 2 bedroom 2 bath offering.
Fairway Village is really, a Fair Way place to Retire. Contact me for additional information about opportunities to own property in this wonderful retirement community.
Monday, February 17, 2014
Retire to Washington
Originally published by Real Estate with Realtor Rod; November 1st, 2013.
Washington State is not the first state you think of when pondering the exodus of retirees to "fairer" locales. You might think of the warmer sun belt states like Arizona and Florida. But Washington offers a unique combination of favorable taxes for seniors, a variety of climates from dry to wet and mild to wild. Washington offers its qualifying seniors a significant reduction in property taxes. There is no state income tax. Southwest Washington really hits the spot, because for those who like to shop and spend money the very nearby Oregon has no sales tax. A trip to the Oregon coast is easy and inexpensive.
Many retirees in the area keep two inexpensive (or expensive depending on their finances) homes. One in Washington State and another in California or Arizona. They fly south for the winter in November and return to our more tolerable climate in the late spring. usually it is better to claim Washington as the "home" state since we have favorable tax conditions for seniors. Although Washington is not the TOP rated state for tax friendly status, it would be when considering the live in Washington, play in Oregon angle offered by Southwest Washington.
Vancouver offers the glorious beauty of the west side of the Cascades with a moderate amount of rain and very modest snow. East of the Cascades delivers much more sunshine but also has more drastic swings in temperature and much more snow in the winter. Southwest Washington also offers close proximity to the aforementioned Oregon Coast and the metropolitan Portland area.
Speaking of the coast, Southwest Washington has the lock on reasonably priced beach property. The Oregon coast is world famous, largely because the state of Oregon spends millions of dollars promoting it. The southern Washington coast is equally spectacular but offers amazing values in property and taxation. This is especially true when compared to Oregon which is very tax unfriendly according to several prominent sources such as Money Magazine and Kiplinger.
Washington State is not the first state you think of when pondering the exodus of retirees to "fairer" locales. You might think of the warmer sun belt states like Arizona and Florida. But Washington offers a unique combination of favorable taxes for seniors, a variety of climates from dry to wet and mild to wild. Washington offers its qualifying seniors a significant reduction in property taxes. There is no state income tax. Southwest Washington really hits the spot, because for those who like to shop and spend money the very nearby Oregon has no sales tax. A trip to the Oregon coast is easy and inexpensive.
Many retirees in the area keep two inexpensive (or expensive depending on their finances) homes. One in Washington State and another in California or Arizona. They fly south for the winter in November and return to our more tolerable climate in the late spring. usually it is better to claim Washington as the "home" state since we have favorable tax conditions for seniors. Although Washington is not the TOP rated state for tax friendly status, it would be when considering the live in Washington, play in Oregon angle offered by Southwest Washington.
Vancouver offers the glorious beauty of the west side of the Cascades with a moderate amount of rain and very modest snow. East of the Cascades delivers much more sunshine but also has more drastic swings in temperature and much more snow in the winter. Southwest Washington also offers close proximity to the aforementioned Oregon Coast and the metropolitan Portland area.
Speaking of the coast, Southwest Washington has the lock on reasonably priced beach property. The Oregon coast is world famous, largely because the state of Oregon spends millions of dollars promoting it. The southern Washington coast is equally spectacular but offers amazing values in property and taxation. This is especially true when compared to Oregon which is very tax unfriendly according to several prominent sources such as Money Magazine and Kiplinger.
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| Sourced from Kiplinger.com |
Our southern neighbor, Oregon is rated as "least tax-friendly" for seniors while we enjoy the "tax friendly" status. Our base property taxes are much lower than Oregon and many seniors qualify for one of four property tax reduction programs. Sales tax is a much less intrusive tax than income tax for middle and upper income seniors. Arizona rated higher than Washington for tax friendly status but actually depending on income and spending habits we might be better than them as well.
Now that all this taxation benefits are out of the way, we can consider other factors. The well known fact that Washington state is absolutely gorgeous is a strong draw. We have four distinct seasons here in Clark County but none are severe. That is tough to find anywhere on Earth. It seems like the proverbial slam dunk for a retirees to move here. And many of them are moving here. So there you have it, Washington State is the best northern state to retire to. Start packing.
Now that all this taxation benefits are out of the way, we can consider other factors. The well known fact that Washington state is absolutely gorgeous is a strong draw. We have four distinct seasons here in Clark County but none are severe. That is tough to find anywhere on Earth. It seems like the proverbial slam dunk for a retirees to move here. And many of them are moving here. So there you have it, Washington State is the best northern state to retire to. Start packing.
Wednesday, February 12, 2014
Welcome!
I would like to welcome you to the Retire to Washington State blog. I intend to provide great information about retiring to Washington State. Find out why Washington is so highly rated among national organizations that rate places to retire.
The Evergreen State offer retired residents a low property taxes, no state income tax and favorable laws for seniors. This Blog focuses mostly on Southwest Washington with its marque city, Vancouver. Southwest Washington offers close proximity to both Portland, OR and Seattle. The Southern Washington Coast is also part of this majestic portion of America's 42nd state.
There is so much opportunity for retirees in this part of the country. We have one of the most affordable coastal living areas in the US. Wonderful outdoor activities and two major US cities to provide any and all of that urban excitement you desire.
Stayed tuned to this blog and discover why Washington State is such a great place to retire.
The Evergreen State offer retired residents a low property taxes, no state income tax and favorable laws for seniors. This Blog focuses mostly on Southwest Washington with its marque city, Vancouver. Southwest Washington offers close proximity to both Portland, OR and Seattle. The Southern Washington Coast is also part of this majestic portion of America's 42nd state.
There is so much opportunity for retirees in this part of the country. We have one of the most affordable coastal living areas in the US. Wonderful outdoor activities and two major US cities to provide any and all of that urban excitement you desire.
Stayed tuned to this blog and discover why Washington State is such a great place to retire.
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