My travels last week took me to two small towns with great main streets. I have seen rejuvenated downtown areas of small towns before, in fact they are quite common. But these two small towns had wonderful main streets, which defined each city.
Hendersonville NC Main Street
Greenville SC Main Street
Both of the outstanding Main Streets had plenty in common. They are historical, have unique architecture, are very walkable. They are the center of downtowns, good places to stroll, esthetically appealing, have plenty of activities weekly and fairs and festivals often. Greenville SC has some great restaurants! Just make you feel good to visit. These Main Streets are a major reason why both Greenville and Hendersonville have so many visitors.
Main Streets have a history and a personality. They are each different. They are more like walking in a park rather than a shopping mall. Much more interesting.
Big wide sidewalks, brick accents, statues, interesting lamps and of course benches, flowers and plenty of things to see and do.
State of Georgia Income Tax – Retirement Income Exclusion for 2020
*Currently in Georgia at age 62 citizens may exempt retirement income from state income tax.
You don’t have to be retired, just have retirement income which is defined as follows.
Taxpayers who are 62 or older, or permanently and totally disabled regardless of age, may be eligible for a retirement income adjustment on their Georgia tax return. Retirement income includes:
Income from pensions and annuities
Net income from rental property
Capital gains income
Income from royalties
Up to $4,000 of earned income
For married couples filing joint returns with both members receiving retirement income, the maximum adjustment for that year may be up to twice the individual exclusion amount. Retirement income exceeding the maximum adjustable amount will be taxed at the normal rate.
For the purposes of this paragraph, retirement income shall include but not be limited to interest income, dividend income, net income from rental property, capital gains income, income from royalties, income from pensions and annuities. Up to $4,000 net business income earned by an individual from any trade or business carried on by such individual, wages, salaries, tips, and other employer compensation, shall be regarded as retirement income.
This is a major benefit for the state of Georgia seniors and anyone considering relocating to Georgia. We applauded the state of Georgia for passage of this benefit for the seniors of Georgia. This will be a boost over the long terms to the retirement communities of GA.
*This is our understanding of the Retirement Income Tax Exclusion for the State of Georgia Income Tax. Please check with your tax professional to verify and see how this effects your personal situation. This is not income tax advise.
Baby Boomers are putting a lot of thought in to the question of where to retire. Many people think about retiring to a small town and there are many advantages to living in a small town. Some people even retire to city living and that is also becoming a popular idea.
But today I want to talk about retiring in the suburbs and the advantages of that from my personal observations. These many be enough reasons just to keep me in place, so let’s begin.
Definition of SUBURB a : an outlying part of a city or town b : a smaller community adjacent to or within commuting distance of a city
Advantages of Retiring in the Suburbs
1. Since many of us currently live in the suburbs, we can just age in place. Less stress in moving to a new area. More comfortable with surroundings we know.
2. Closer to our friends, associates, organization we belong to and can maintain current relationships.
3. I have a Kroger, Publix and a Whole Foods within 3 miles of my house. That is nice.
4. We have an Active Adult Center nearby.
5. I have Meetup groups I belong to in my community
6. I am a member of a fitness gym five minutes from my house.
7. We have some really top restaurants nearby (5 to 10 minutes).
8. We have two regional hospitals and all kinds of Doctors and medical groups nearby. For the future home health services abound.
9. I can continue my part time consulting job if I don’t move away. Starting a new retirement job in a new location may not be so easy.
10. Many other services are nearby like getting a massage, stopping by the bookstore, dry cleaners, all kinds of shopping, etc.
11. Entertainment is easily accessible. In my community there are live music venues, concert halls, community theaters, Verizon Amphitheater, sports. A trip in to the city can be made in 20 to 30 minutes for bigger venues.
12. Driving is not bad if I am not in rush hour times but things are so close that does not matter much. If needed in the future, taxis, vans and other transportation are available.
So even compared to one of those wonderful Active Adult Communities in the exurbs, I have a better Fitness Center, better access to grocery shopping, better access to nice restaurants and better access to top medical services.
At first glance there is not as much opportunity to meet new friends; but it is also something to consider in keeping old friends. Meetups, adult centers, volunteering, clubs, libraries and hobbies presents opportunities to meet friends.
As it turns out what I have been searching for may be right here at my doorstep. What about you, are you going to move for retirement?
Did you recently retire and you are looking for a really great place to retire to? Maybe you will be retiring soon and you are looking forward to some peace and quiet after a lifelong of working really hard. For a lot of people, they opt to retire in places like Florida where it is warm and sunny all year round. Still, it is good to be open to other options because there are many places in the United States that are definitely looking into. Colorado happens to be one of them and before you start thinking that retirees generally do not like skiing, these are some things that you should know about the place. Here are nine of the best smalls towns to live in Colorado.
Retirement is a stage when you can no longer work hard, so it is the best time to invest in real estate, provided you do not owe any debt. The value of housing has held up during this pandemic and may even go higher with a recovery. Many are predicting inflation in our future and if so real estate will be a good investment. Nevertheless, before investing in real estate, consider some factors so that your investment proves to be a right decision.
Location: This is one of the most important factors to be taken into account while investing in real estate. Having a house in good location and at good neighborhood is extremely important after retirement. Make sure the house you buy is close to hospitals, post office, shopping malls, and police station. Many over retirement homes in over 55 communities are selected because they have great desirable locations. Also, buy a house that is close to your friends and relatives.
Design: This is another important factor to be considered. Before buying a house, check out the design of the house, if possible. Make sure, the house has all the essential facilities, such as laundry. Also ensure that the rooms in the house are proportionate.
Services: After retirement, people seek for comforts and services. So if you are planning to invest in real estate after retirement, make a list of all your preferred services and specific requirements. While looking for a house, make sure, your preferred services and requirements are available near your house. For example, home maintenance, nursing aids, and other significant services.
People mostly stay away from investing in real estate after retirement since it requires huge amount of money to invest. But there are several advantages that you must know. So let us have a look at each of them.
Ownership feeling: Owing a house is really a special feeling and that is the reason why people try to buy a house in their life. Having an own house gives you a feel of ownership that matters a lot in old age.
Can implement your personal choice: All individuals have certain dreams and desires which they want to implement after retirement. At this stage people look forward to own a house and decorate it as per their choice. Not only this, they also want to renovate the house or make some modifications according to their comforts. And this is only possible when you have your own house.
Avoid paying rent: Buying a house is a better option than paying rent to the landlord. Senior apartment communities are expensive. This will save you money, which you can spend for your other interests. You may invest in the education of your grand children or in a luxurious life in your dream city.
Earn some extra cash: If your new house is spacious enough, you can think about utilizing the space in various ways to earn money. You may set an office to start a business of your own or rent a room or two and earn a considerable amount each month.
In the meanwhile, many senior citizens are falling into debt because of the recent financial upheaval and economic devastation. So they are looking for some resources or grants that can help them with financial assistance.
Home Buyer Training Classes:
State community action partnership agencies conduct training classes for people who are going to invest in real estate for the first time. Depending on the program, these agencies even aid first-time home buyers with down payment assistance programs.
Thus, it is to be concluded by saying that investing in real estate after retirement is a good option since the value of housing is incessantly increasing. So investing in real estate can secure the path of your financial future. However, before investing, keep the mentioned factors and advantages in mind.
Looking forward to retirement is the current pastime of many of us 50+ years old boomers. Anticipating our retirement and what it will be like is a pleasant thought. They say you really don’t know what retirement is until you actually retire.
The expected benefits are many: having more time, doing things we like, making new friends, traveling, experiencing new things, less stressful life and a better balance between work and play.
Using the new definition of retirement as being a better balance between work and play, when do we pull the trigger and consider ourselves being in retirement? When you leave your full time career job? When you start drawing social security somewhere between age 62 to 66? Or when you say so? Many people find it hard to say they are retired, even after they have retired.
Some people ease in to retirement. They start working from home doing consulting or a Internet business. People start working part time or take some time off then jump back in for a while. Some people move to a 55 plus community on the edge of a metro area and still work full time. All of these are the transition to retirement and help easy the process. The exciting part is actually starting the process for a better balance of work and play in our life, no matter what you call it.