[SteveM85]

Originally Posted by beach43ofus

Affluent retirees require very little gov't resources. They are cheap to have around, & they pay taxes on unearned incomes & property taxes. Retirees are a profitable demo to keep around for towns, & cities, & states. They volunteer a lot too.

I need to accrue more reps to issue out.
That's right, around here on the coast near the NY border, CT has a healthy dose of affluent retirees who either stick around FT or snowbird. CT is all set with them, they constitute healthy numbers. There's ample coverage.
It behooves middle class retirees to look elsewhere to save on local taxes. In some cases it can be critical.
Poor retirees are stuck in CT's dumping grounds, they're immobile.
Crime in CT is moot for affluent retirees, they don't work the streets, also agree.
Great posts.

[ConnecticutSir]

Originally Posted by Johnho771

Being 4th in crime is particularly disturbing.

I think it means the 4th lowest crime, not the 4th highest crime.

[JayCT]

Originally Posted by Johnho771

Being 4th in crime is particularly disturbing.

I believe that means the 4th lowest for crime. That’s a positive. Jay

https://www.usnews.com/news/best-sta...tes-in-america

https://en.wikipedia.org/wiki/List_o...ent_crime_rate

[JayCT]

Originally Posted by beach43ofus

https://patch.com/connecticut/across...ew-study-finds

I’m sorry but how can anyone say California, New Jersey and Massachusetts are more affordable (by several spots for NJ and MA) than Connecticut. That’s pure BS PERIOD. Jay

https://www.forbes.com/sites/andrewd...-live-in-2022/

[davwve]

Originally Posted by JayCT

I’m sorry but how can anyone say California, New Jersey and Massachusetts are more affordable (by several spots for NJ and MA) than Connecticut. That’s pure BS PERIOD. Jay

https://www.forbes.com/sites/andrewd...-live-in-2022/

They overall ranked CT more affordable than CA, NJ, and MA.

[CTREInvestor]

Originally Posted by SteveM85

It behooves middle class retirees to look elsewhere to save on local taxes. In some cases it can be critical.
Poor retirees are stuck in CT's dumping grounds, they're immobile.
Crime in CT is moot for affluent retirees, they don't work the streets, also agree.
Great posts.

My parents were solidly middle class with modest savings who moved south, and while they saved maybe $1,000 a month, when my mother got Alzheimer's, the picture changed dramatically.

I would argue that only the wealthy have true mobility in retirement. If you develop any kind of disorder that will required skilled nursing, you're seriously screwed unless you have a 10 figure portfolio, or you don't mind blowing your meager savings and leaving your children and grandchildren with nothing.

If you stay where you have roots and connections, you have family to assist you rather than going to a nursing home far sooner than you should. And if you do require government assistance, not only is it guaranteed in Connecticut as soon you need it, there is the option of visiting nurses.

In much of the south, you'll be on a waiting list for a nursing home, potentially for years. Only Texas offers in-home skilled nursing as an entitlement. And that's probably only because the state, while having populous cities, is obviously huge and nursing homes are not feasible in probably 90% of the state's land area as the population density just isn't there.

Personally, after my own experiences with my parents, the way we encourage the elderly to abandon their communities is abhorrent. The simple fact skilled nursing care is not a federal entitlement when the costs are enormous and 25% of the population will require after retirement is sick.

Frankly, I'm amazed more people are not terrified of retirement.

[JayCT]

Originally Posted by davwve

They overall ranked CT more affordable than CA, NJ, and MA.

The source I posted, Forbes, has Connecticut more affordable than California, New Jersey and Massachusetts. That makes sense. But the Bankrate study linked linked by beach43ofus ranks Connecticut 49th for affordability with only Hawaii less affordable. The just simply ridiculous. Jay

[New Englander]

Originally Posted by CTREInvestor

My parents were solidly middle class with modest savings who moved south, and while they saved maybe $1,000 a month, when my mother got Alzheimer's, the picture changed dramatically.

I would argue that only the wealthy have true mobility in retirement. If you develop any kind of disorder that will required skilled nursing, you're seriously screwed unless you have a 10 figure portfolio, or you don't mind blowing your meager savings and leaving your children and grandchildren with nothing.

If you stay where you have roots and connections, you have family to assist you rather than going to a nursing home far sooner than you should. And if you do require government assistance, not only is it guaranteed in Connecticut as soon you need it, there is the option of visiting nurses.

In much of the south, you'll be on a waiting list for a nursing home, potentially for years. Only Texas offers in-home skilled nursing as an entitlement. And that's probably only because the state, while having populous cities, is obviously huge and nursing homes are not feasible in probably 90% of the state's land area as the population density just isn't there.

Personally, after my own experiences with my parents, the way we encourage the elderly to abandon their communities is abhorrent. The simple fact skilled nursing care is not a federal entitlement when the costs are enormous and 25% of the population will require after retirement is sick.

Frankly, I'm amazed more people are not terrified of retirement.

This is a very sensible post. I am sorry to hear about your mom's diagnosis.

I completely agree. Americans tend to do a poor job of retirement planning (perhaps it's being design of vested commercial interests) where items like long-term care insurance is not considered and elder law consultations are not initiated.

That being said and my northeast bias notwithstanding, I don't think the South is the place to be for retirement. Sure the weather might be warmer, things may be cheaper, but losing out on the community and also access to care (SNFs and general hospitals) is not worth it for many people. Now I know people will come out of the woodwork to state that their retirement move to the South was great and they couldn't be happier. If that is the case for you, then great, I am truly happy for you.

The ideal situation would be to either stay put or snowbird down over to a warmer locale for that brutal stretch of winter, keeping in mind that you age, you may not be able to maintain a consistent schedule.

[JayCT]

Who says our state is only able to attract new businesses to Stamford?

As posted in the Hartford Development thread, a fourth international tech company has announced the opening of an employment center in downtown Hartford. Larson & Toubro has announced they will open an office in the iconic Boat Building for 300 hybrid jobs. GalexE.Solutions has opened offices in the Stilts Building and City Place for a total of 400 employees. HCL has opened an office in State House Square for 200 and Infosys has offices in the Goodwin Building for 1,000. That’s a total of 1,900 tech jobs centered in downtown Hartford. GalexE has indicated, it’s their goal to buy a building in downtown Hartford. That certainly is testament to the city technology job base.

As also noted in the New Haven Development thread, Alexicon is doubling their presence in New Haven with space in the new 101 College Street building. They currently have 500 at 100 College Street which means they anticipate having 1,000 employees in the city in the near future. Unbelievable. Jay

[SteveM85]

Originally Posted by JayCT

Who says our state is only able to attract new businesses to Stamford?

As posted in the Hartford Development thread, a fourth international tech company has announced the opening of an employment center in downtown Hartford. Larson & Toubro has announced they will open an office in the iconic Boat Building for 300 hybrid jobs. GalexE.Solutions has opened offices in the Stilts Building and City Place for a total of 400 employees. HCL has opened an office in State House Square for 200 and Infosys has offices in the Goodwin Building for 1,000. That’s a total of 1,900 tech jobs centered in downtown Hartford. GalexE has indicated, it’s their goal to buy a building in downtown Hartford. That certainly is testament to the city technology job base.

As also noted in the New Haven Development thread, Alexicon is doubling their presence in New Haven with space in the new 101 College Street building. They currently have 500 at 100 College Street which means they anticipate having 1,000 employees in the city in the near future. Unbelievable. Jay

They're on fire. Great news