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Retiring in California: Pros and Cons
California is known for its beautiful weather, stunning beaches, diverse culture, and vibrant cities. It’s no wonder why many people dream of retiring in the Golden State. However, like any place, California has its pros and cons when it comes to retirement.
Pros:
1. Weather: California is famous for its year-round sunshine and pleasant weather. This makes it an ideal place for retirees who want to enjoy outdoor activities like hiking, biking, or simply relaxing on the beach.
2. Healthcare: California has some of the best healthcare facilities in the country. Retirees can rest assured that they will have access to top-notch medical care when needed.
3. Culture: California is a melting pot of different cultures, which means retirees can enjoy a wide range of cuisines, arts, and entertainment options.
4. Outdoor activities: With its stunning beaches, mountains, and national parks, California offers retirees endless opportunities for outdoor activities like hiking, surfing, and golfing.
5. Healthcare: California has excellent healthcare facilities and is home to some of the top hospitals and medical centers in the country.
Cons:
1. Cost of living: California is known for its high cost of living, particularly in major cities like Los Angeles and San Francisco. Retirees on a fixed income may struggle to afford housing, groceries, and other essentials.
2. Traffic: California is infamous for its traffic congestion, especially in urban areas. Retirees who are used to a more relaxed pace of life may find this aspect of California challenging.
3. Natural disasters: California is prone to wildfires, earthquakes, and droughts. Retirees need to be prepared for these potential natural disasters and have a plan in place in case of emergencies.
4. Taxes: California has some of the highest state income taxes in the country. Retirees may find that their retirement savings don’t stretch as far as they would in other states with lower taxes.
5. Crowded cities: California’s major cities can be crowded and noisy, which may not be ideal for retirees looking for peace and quiet in their golden years.
In conclusion, retiring in California has its pros and cons. While the state offers beautiful weather, diverse culture, and endless outdoor activities, retirees need to consider the high cost of living, traffic congestion, natural disasters, taxes, and crowded cities. Ultimately, the decision to retire in California will depend on individual preferences and financial considerations.
I’m a 5th generation Californian and the first to leave my Golden State for Washington state 2 1/2 years ago. I’m still so conflicted. I live on a mainland connected island on the Puget Sound where the views are beautiful, water, Olympic Peninsula, my house backs to a forest where I feed deer, squirrels, all types of birds. Crime is almost non-existent, but, truthfully, I’m very lonely away from close friends, cold 99% of the time. The fireplace is burning in July. The island is remote so going to Costco takes half of a day. Produce is very expensive and rain with oppressive clouds 9 months of the year is beyond depressing. Property tax is $2,000 less than CA and half the cost for insurance for car and home. There’s no state income tax. Sales tax is about 9% or more. I just returned from my former home in Rocklin, spent 2 weeks in Pacific Grove and was extremely happy. However, I toured a modest 1500 s.f. 1960’s home, superficially updated in a good area of PG/Monterey for $2.4 million. I ask myself where I want to spend my last years, here in WA or where my heart is, in CA? What good is money if one is isolated, lonely and depressed?
Well, it definitely looks like California is not a bad state to retire. I am curious though if California is a good state to retire from if I go to spend my golden years abroad.
So Granny with 3 million assets is low income ?
Native Californian.
The pros you described aside from the God given natural things, are no longer. The Bay Area today is filled with a bunch of weirdos who have changed things for the worst.
skip to 25:00 , you can thank me later 😉
The assertion that California is politically diverse is, in my opinion, not 100% true. Sure, most people in the east are conservative. However, the democrats in the west hold all the power. The state government is made up of a democratic super majority. Conservatives have no voice in California.
25:00 why you clicked
But the long preamble was real good
Job opportunities and excellent pay makes it possible to sock major money away in one's early years, then get the hell out of there.
Crime is so high in the Golden State, retiring there means your chances of becoming an elderly victim is only a matter of "when". In the meantime, your pension and 401K will be eaten alive by 13% state income tax, 10% sales tax, among many others. You'd have to be out of your mind to retire here.
Healthcare in California? Expect long wait times (months) for appointments to see specialists. Emergency room visits can take hours and hours.
I had Basel cell cancer on my nose and my surgeon was amazing! I live in Orange County and I’m staying here to retire.
California is the worst. Unlivable, poorly run, dangerous and completely not diverse if you are not democratic.
A very informative video – learned a lot, thanks! Currently my wife and I are owning a house and living in beautiful Irvine, California and love every minute of it as you’ve described in video – a few minutes to beautiful beaches, i.e. Laguna Beach, Huntington Beach, Dana Point, San Clemente, etc., while enjoying snowboarding on local mountains, Mountain High, Snow Summit, or spending Christmas throughout New Year time at beautiful Mammoth Mountain, my dream winter wonderland place! My wife is already retired from RN, and I’ll be soon following her footsteps. Thanks!
There is another benefit. Medical providers like doctors and hospitals cannot go after patients for charges not paid by their medical insurers. The battle is between the insurers and the medical providers. Patients are responsible only for the deductible. That’s significant for example if you rack up over 100k in hospital ICU ward. You’re only responsible for the deductible. Only about 5 states have this patient protection.
Thanks for breaking down the retirement scene in California, Jim! The diversity there is truly unmatched. Speaking of diversity, have you guys considered diversifying your retirement portfolio with crypto? Heard about this cool platform, My Digital Money, making it easy to dip your toes in the crypto waters while securing your retirement bag. Might be worth checking out for those looking to spice up their investment game.
You also don’t want to outlive your body
California the ultimate sun shiny gilded cage.
Unfortunately those living West of Hwy 5 control policy for the entire state
Curious as to why your parents moved to Texas?
The reality is that when you retire, you have fixed income fueled by Social Security. In most areas of CA, (especially in LA) the prospect of selling your older home and buying a new one is near to impossible. Therefore, this sets up the protocol of migration from CA to States such as AZ. When your HOA fees are half the cost of your 3.2% mortgage of a building that is falling apart and over 60 years old. Then there is property tax; a single family house in PHX is a 1/3 rd of the cost of my 1 bed condo in SoCal. No doubt, CA is the place to live. However, if you want to buy a house in new retirement in SoCal for most, forget about it! Since living in CA, my 60 year old decaying house has experienced many earthquake tremors manifesting damage.
Kentucky is gorgeous but winters are brutal. I notice in my own area most of the newcomers are from one of three places; LA, SF or NYC. The ones I've talked to claim they'd never move back. NYC people because of the crime but Cali people say because of the cost of living.
Thank you .
90% youtubers bashing California as a hell state. But your video is the Great informative video about California.
California is not perfect but it's great enough for the rest of my life.
Pro- the weather, Con-Anything else you can think of.
I've got two more years in this hellhole.
It's a great place to make money, but a horrible place to live.
I am a Californian and really enjoyed all your videos. I thought in CA, when one of a couple died, you can only step up the cost basis on 1/2 of the jointly owned appreciated stocks! At least, that was what a Charles Schwab representative told me! Would you please clarify that?
Kalifornia is full of liberals! If you like their stupidity, then you'll love it here!!!
Kalifornia is anti-2A!
The good weather is NOT free!!!
Simply work in California as a young person and after 30 years get a CALPERS w COLA at 100K USD annually for life and move!
Next do retirement in California vs Spain
2012 to 2020. I was able to work in jeffersonville indiana, Mishawaka indiana, elkhart indiana and sheperville Kentucky and waxahachie Texas for extra credit. To be honest the weather , the weather, that killed it for me. I am back home in Downey California I love waking up and enjoying another perfect day. I dont have to hear the weather may. Change today. Yes, it is diverse and happy. Gratitude.