We relocated in Maine after working and raising three children in Maryland over 40 years. Maine is a place where we've vacationed often over the years and we have many favorite places to hike and explore. Prior to the move we had no close friends in Maine, just a few acquaintances. We are very happy that we made the move. Our 28 year old and 35 year old children - still in Maryland and still single - visit us 3 or 4 times each year. They love coming up to ski in the winter and hike and boat in the summer and fall. Our oldest, his wife, and our granddaughter live in California but have managed to visit for two or three weeks each year since we moved here. During the past two years we've visited them twice each year. Our eldest and his wife both work remotely and are planning on visiting for three weeks in September and have indicated that they might relocate in New England, possibly in Maine. We knew some time ago that we did not want to retire in Maryland. As much as we love the state and have lots of friends there, we wanted a slower pace of life and easier access to outdoor recreation. If I had to do things over again, we would have begun the process of planning the move several years earlier. After retiring at the end of 2020, we took about 2 1/2 years before settling on a community and purchasing the condo we live in. The cost living here is slightly lower than in the DC metro area (aka the DMV) and we're glad we made the move.
Frankly, many seniors, my wife and I included, do not need an additional $6000 "bonus" deduction. In general, paying less taxes is better than more taxes. However, as the gap between the haves and the have nots widens in the US, I fear for the long-term impact of the recently enacted tax cuts on the viability of social security and the ability of low income people to access health care. I would rather pay more in taxes to enable the government to subsidize low income housing, build more affordable housing, and provide support to young families and children. As one of the wealthiest nations on the planet, it is shameful that so many of our children go hungry and that their most reliable meals are served at school and in afterschool programs.
Do most seniors in retirement earning above the median income for their age group need an additional $6000 bonus deduction?
I agree Nick. In most developed countries the tax code is simpler and, in my estimation, more equitable. Intuit, the company that sells TurboTax, the Uber wealthy, and others have no interest in simplifying the tax code.
Linking student academic performance to $$ spent on education is like linking $$ spent on dental care to oral care. Children come from families that vary widely in their ability to support their children's academic growth (and provide dental care). Poverty and family mobility contribute to challenges children face. Not all children start school at the same readiness level. Not all children see their dentist with good oral hygiene practices. Education, public education, historically has been the great equalizer - starting in the 1870s - in our (US) society. As a retired educator who has no children in school, I willing pay taxes. It's good for America!
My wife and I do not have long term care policies but we have factored into our planning the potential costs of LTC. Between the two of us, only one of our four parents required LTC; my dad needed this level of support for about 8 months at the end of his life. We are both retired, in our 70s, are relatively healthy, and have retirement and brokerage accounts in excess of 1 million. We also waited until 70 to claim SS. We have no debts and own our condo. Years ago a financial advisor - who also sold us expensive whole life policies (since cashed in) - encouraged us to buy LTC insurance. I suspected he stood to gain hefty commissions. We politely declined. I think the question of whether or not to buy LTC policies depends upon personal circumstances - health, family health history, financial situation, and others.
Thanks for your thoughtful commentary about retirement Dennis. I have been retired for four years but occasionally miss my work. I taught and researched at university - the same one - for 39 years. In retirement we've downsized, travelled more, and have explored new hobbies. I've taken woodworking classes and Diane has taken watercolor courses. I begin teaching a course at a Maine Senior College next month. I'm looking forward to returning to the classroom with a group of seniors who I anticipate will be very different than the undergrads and grad students I taught in my earlier life.
Near gate 10 at the Portland, Maine Jetport (PWM), there is always a jigsaw puzzle. Travelers have the opportunity to work on the puzzle before they depart. It's a nice shared community activity.
In retirement I find myself spending more time doing things that I did infrequently when I was working FT. I hike in the woods at least once a week, I read more books, and I have taken a couple of wood working classes. I volunteer occasionally at a local museum. While I miss work (I consult occasionally), I love the opportunities for unstructured time and spontaneous activities. I enjoy going to lunch with my wife at new restaurants and weekly breakfast with guys in my senior community. Thanks for getting this discussion started Marjorie.
The challenges faced by low performing, high spending districts are rooted in poverty and family disorganization. Adequate funding of public schools is a necessary but not sufficient condition for quality education for all children. Public funding of private schools saps dollars from public schools. I write as a now-retired former public school teacher, university faculty member, and former k-12 parochial school student. My children are grown; I willingly support taxation to support public schools.
Comments
We've found that property taxes are slightly higher but the additional expense is well worth it.
Post: Let’s revisit the pros and cons of relocating upon retirement
Link to comment from July 31, 2025
We relocated in Maine after working and raising three children in Maryland over 40 years. Maine is a place where we've vacationed often over the years and we have many favorite places to hike and explore. Prior to the move we had no close friends in Maine, just a few acquaintances. We are very happy that we made the move. Our 28 year old and 35 year old children - still in Maryland and still single - visit us 3 or 4 times each year. They love coming up to ski in the winter and hike and boat in the summer and fall. Our oldest, his wife, and our granddaughter live in California but have managed to visit for two or three weeks each year since we moved here. During the past two years we've visited them twice each year. Our eldest and his wife both work remotely and are planning on visiting for three weeks in September and have indicated that they might relocate in New England, possibly in Maine. We knew some time ago that we did not want to retire in Maryland. As much as we love the state and have lots of friends there, we wanted a slower pace of life and easier access to outdoor recreation. If I had to do things over again, we would have begun the process of planning the move several years earlier. After retiring at the end of 2020, we took about 2 1/2 years before settling on a community and purchasing the condo we live in. The cost living here is slightly lower than in the DC metro area (aka the DMV) and we're glad we made the move.
Post: Let’s revisit the pros and cons of relocating upon retirement
Link to comment from July 30, 2025
Frankly, many seniors, my wife and I included, do not need an additional $6000 "bonus" deduction. In general, paying less taxes is better than more taxes. However, as the gap between the haves and the have nots widens in the US, I fear for the long-term impact of the recently enacted tax cuts on the viability of social security and the ability of low income people to access health care. I would rather pay more in taxes to enable the government to subsidize low income housing, build more affordable housing, and provide support to young families and children. As one of the wealthiest nations on the planet, it is shameful that so many of our children go hungry and that their most reliable meals are served at school and in afterschool programs. Do most seniors in retirement earning above the median income for their age group need an additional $6000 bonus deduction?
Post: Increased Deduction for Seniors
Link to comment from July 5, 2025
I agree Nick. In most developed countries the tax code is simpler and, in my estimation, more equitable. Intuit, the company that sells TurboTax, the Uber wealthy, and others have no interest in simplifying the tax code.
Post: Like it or not, we all need to pay taxes. Seniors are no exception
Link to comment from March 17, 2025
Linking student academic performance to $$ spent on education is like linking $$ spent on dental care to oral care. Children come from families that vary widely in their ability to support their children's academic growth (and provide dental care). Poverty and family mobility contribute to challenges children face. Not all children start school at the same readiness level. Not all children see their dentist with good oral hygiene practices. Education, public education, historically has been the great equalizer - starting in the 1870s - in our (US) society. As a retired educator who has no children in school, I willing pay taxes. It's good for America!
Post: Like it or not, we all need to pay taxes. Seniors are no exception
Link to comment from March 17, 2025
My wife and I do not have long term care policies but we have factored into our planning the potential costs of LTC. Between the two of us, only one of our four parents required LTC; my dad needed this level of support for about 8 months at the end of his life. We are both retired, in our 70s, are relatively healthy, and have retirement and brokerage accounts in excess of 1 million. We also waited until 70 to claim SS. We have no debts and own our condo. Years ago a financial advisor - who also sold us expensive whole life policies (since cashed in) - encouraged us to buy LTC insurance. I suspected he stood to gain hefty commissions. We politely declined. I think the question of whether or not to buy LTC policies depends upon personal circumstances - health, family health history, financial situation, and others.
Post: How Are You Planning to Pay for Potential Long Term Care Expenses?
Link to comment from February 4, 2025
Thanks for your thoughtful commentary about retirement Dennis. I have been retired for four years but occasionally miss my work. I taught and researched at university - the same one - for 39 years. In retirement we've downsized, travelled more, and have explored new hobbies. I've taken woodworking classes and Diane has taken watercolor courses. I begin teaching a course at a Maine Senior College next month. I'm looking forward to returning to the classroom with a group of seniors who I anticipate will be very different than the undergrads and grad students I taught in my earlier life.
Post: Better Than Ever
Link to comment from January 31, 2025
Near gate 10 at the Portland, Maine Jetport (PWM), there is always a jigsaw puzzle. Travelers have the opportunity to work on the puzzle before they depart. It's a nice shared community activity.
Post: A Balanced Retirement
Link to comment from January 31, 2025
In retirement I find myself spending more time doing things that I did infrequently when I was working FT. I hike in the woods at least once a week, I read more books, and I have taken a couple of wood working classes. I volunteer occasionally at a local museum. While I miss work (I consult occasionally), I love the opportunities for unstructured time and spontaneous activities. I enjoy going to lunch with my wife at new restaurants and weekly breakfast with guys in my senior community. Thanks for getting this discussion started Marjorie.
Post: A Balanced Retirement
Link to comment from January 29, 2025
The challenges faced by low performing, high spending districts are rooted in poverty and family disorganization. Adequate funding of public schools is a necessary but not sufficient condition for quality education for all children. Public funding of private schools saps dollars from public schools. I write as a now-retired former public school teacher, university faculty member, and former k-12 parochial school student. My children are grown; I willingly support taxation to support public schools.
Post: Our perception of fairness – taxes that is says RDQ
Link to comment from December 28, 2024