About this episode
Don and Tom explore one of retirement’s biggest emotional and financial questions: where should you actually live once work winds down? They discuss the hidden realities behind “low-tax” retirement states, including insurance costs, healthcare expenses, weather extremes, and the importance of family and community. The episode also features listener questions on retirement cash management, why annuities often create more problems than solutions, retirement savings strategies for LLC owners, and the ultra-wealthy “buy, borrow, die” strategy using securities-backed lines of credit.0:05 Retirement dreams and deciding where to live1:49 The myth of “low-tax” retirement states3:18 Washington taxes, Jeff Bezos, and Wyoming winters4:27 Florida’s hidden costs and brutal summers6:04 Insurance shocks, pension taxes, and state tax surprises8:04 Property taxes, sales taxes, and healthcare costs10:12 Why family and community matter more than taxes11:38 Florida thunderstorms and surviving the humidity12:40 Comparing total living costs before relocating13:52 Aging in place and the rising demand for one-story homes15:34 Listener question: What to do with $192,000 sitting in checking18:52 Why liquid savings may beat annuities near retirement22:15 Delaying 401(k) withdrawals and retirement flexibility24:47 LLC profits and retirement contribution limitations28:06 “Buy, borrow, die” and securities-backed lines of credit33:19 The risks of borrowing against investments34:05 Free fiduciary advice versus commissioned sales pitchesQuestions? Comments? Click!