The 'Couv'

The 'Couv'

Tuesday, July 27, 2021

California Retirees will Face Increased Expenses

California is putting the squeeze on retirees with ever increasing taxation that brutally attacks the middle class and the wealthy. Adding additional salt to an oozing and festering wound is the elimination of natural gas forcing new homes to be heated with electricity. California has trouble keeping the lights on already and prices per KW/hour in the Golden State are among the highest in the US. 65% above the national average and more than double the rate in Washington State. The pressure away from fossil fuels such as natural gas can only tax the already reeling California grid further which will undoubtedly lead to even higher costs. Higher costs for basic needs like electricity disproportionately affect the poor which then pressures the state to enact even more strict taxation on the middle class.  

Those looking to retire soon should consider retiring outside the former Golden State. It is really more like the Pewter state these days. Perhaps a retreat to the east in Nevada or Arizona, or to the North in Oregon or Washington.

Washington remains one of the absolute best northern latitude states to retire with zero income tax and super low utility rates. Vancouver's bi-state border economics with Oregon allow for a diverse savings on taxes and expenses. Retirees are wise to consider Washington and Vancouver/Clark County is hard to beat.