I'm 61 and retired about 3 years ago, 15year mortgage was paid off in 10 years. I have lost 45 pounds, and my blood pressure has dropped into normal range. A take a walk or bike ride almost every day. I make music and art, garden, cook, read, write, travel, and get to follow my muse wherever it may lead me. I haven't been this happy and healthy since childhood. Retirement is paradise to me.

@JeffWilliamfick

12 күн бұрын

I retired at 57, 7 years ago. My wife and I saved and invested early allowing me to exit the workforce when I did. We are not special and believe most people can do this with the appropriate information and help of an elite financial coach.

@ginacardarella

11 күн бұрын

@@RichardGeorge-pz3wm wow Good for you🥰. I want to be in that frame of mind two

@CunninghamLegal

4 күн бұрын

That sounds wonderful! Thanks for sharing.

@audreyh3357

Күн бұрын

How wonderful! Inspirational! God bless you.🙏😊🙏

@RichardGeorge-pz3wm

Күн бұрын

@@audreyh3357 You’re welcome. We should live to inspire. Find financial advis0rs like Becky Lou Gordon who can assist you on things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk would be a very creative option.

Retirement in Canada, it can be pricey, but there are definitely affordable areas outside the big cities. Plus, no state tax on Social Security!

@V.stones

15 күн бұрын

True, that's a big perk. And the weather is unbeatable. Hiking, surfing, wine country...California has it all!

@Robby767

15 күн бұрын

Don't forget the earthquakes! Nature's a double-edged sword there.

@mariadrukker2557

15 күн бұрын

Earthquakes are a risk, but honestly, the fire season here in Arizona is getting out of control too. At least California has beaches to cool off at!

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

@fadhshf

21 күн бұрын

The increasing prices have impacted my plan to retire at 55, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.

@LucasBenjamin-hv7sk

21 күн бұрын

More reason I enjoy my day to day market decisions is that i'm being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to.

Great place to retire if you are very wealthy. A median house price is north of 1 million dollars meaning you will need at least $10,000 per month aside for mortgage, property tax, insurance, utilities, water and landscape care. You also need at least $6000 per month for foods, health care supplements, entertainment, transportation, travel funds, restaurants, entertainment drinks. To sum it up, one needs $16,000 per month ($192,000) per year to stay in California and this is considered Middle Class Blue Collar living.

@CunninghamLegal

18 күн бұрын

Using your data points, the median house price in California is $786,938. (even though the median home price in Tehema County is only $355K and it's even less in Lassen County @$224K). Per month, you'll only need about $5,759 to maintain the $786K (putting 20% down). And living a lifestyle where you were spending $6K a month on food, entertainment, and travel sounds great!

@jadebrady5760

18 күн бұрын

If you can make it in California. Don't leave because when you want to come back, you'll be priced out.

@aprildice5486

17 күн бұрын

I live on a lot less than that in CA. I live well on around $4 to 5,000 a month. My house is paid for.

@torsten6777

17 күн бұрын

You’re not a good retirement planner if you plan on having a full blown mortgage during retirement! I have no mortgage already before retirement and I love the cap on property taxes here in CA, meaning low property tax when I retire.

@Lee-up4bz

17 күн бұрын

What? You don't need $16k per month to live in CA.

I lived in California for 40 years and I am retiring in CA. I have worked very hard to buy two income properties that will replace my current income when I retire at 62 in two more years, life is great. Work hard when you have plenty of youth and enjoy life when you don't have it anymore.

@OldsmobileCutlassSupremeConver

21 күн бұрын

Ha ha. Good luck with the Leftist Rental laws.

@CunninghamLegal

21 күн бұрын

Congratulations on choosing a retirement date! Thanks for sharing that it is possible.

@torsten6777

17 күн бұрын

I have accumulated a lot of rentals here in CA and the governments tenant friendly laws help me to collect huge rents because nobody wants to be a landlord here with these laws. That means little competition = high rents.

@Justaguywithtruth

16 күн бұрын

Your old it worked out, two young adults struggle in California while working..🧐🤔🤨

@OldsmobileCutlassSupremeConver

16 күн бұрын

@@Justaguywithtruth actually it didn't work out, she got the house. I had to start over. I got the better deal.

I spent most of my adult life in CA but lived in TX, CO, VA, MA for work and traveled throughout the US. I decided to come back and stay in CA years ago and did not even realize a lot of these tax and financial benefits. Thank you Cunningham Legal for making me feel real good about my decision.

Retired early in California, over 5 years now. Still thinking sometimes about going elsewhere. Like Phoenix, but friend said it was 119 F yesterday...I'm wimped out by our great weather.

@Lights_Darks

20 күн бұрын

119! Not good if there is a blackout.

@venk777

15 күн бұрын

Don't come to Phoenix. We don't need Californians here.

@SloGoatsGrazingServices-bb4zn

11 күн бұрын

I live in California and Arizona. The heat in Arizona will only get worse. Arizona used to have inexpensive housing - not anymore.

Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.

@KaurKhangura

16 күн бұрын

True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.

I wouldn’t retire, meaning stop working. As soon as people retire they start getting sick, and deteriorating mentally. Best to work a part time and live a modest life. What a person does as a young adult will impact how you will live in the future. People throwing money on alcohol and cigarettes, partying is surely going to drain your pay fast. It’s not what you make but what you do with what you make! Live a modest clean life and you will be fine. Save money when you haves chance.

@CunninghamLegal

15 күн бұрын

That's a very unique perspective!

@gazelle3635

13 күн бұрын

100% correct. Agree with you.

I took my CALPERS pension and moved to Thailand!

@CunninghamLegal

21 күн бұрын

That sounds like an interesting strategy! Thanks for sharing.

@sandybeach3576

21 күн бұрын

Good for you

@rogerngu830

20 күн бұрын

I’m also retiring with CALPERS and moving out of California and oversea!

@Benzene75

18 күн бұрын

Here's a smart move. I'm planning to move to Cambodia when I'm retired

@tomprieto5574

18 күн бұрын

yeah!

I'm a lucky one. Live in Northern Calif. Decided decades ago after divorce to live way, way below my means and save and invest. The small city I live in is more affordable rent-wise and safe. Retired 4 years ago and living a level of freedom that can't be articulated, it has to be lived to be fully understood and appreciated. I answer to NOONE. No boss, no wife, no girlfriend. People ask how I've achieved my financial stability, and I reply, "I never re-married." Smiles!

@meilingbao2481

15 күн бұрын

Which city please

@CunninghamLegal

11 күн бұрын

Thanks for sharing!

I'm a native Californian and retired. I can't afford to rent a home, let alone a studio apartment. I can barely afford food and have to go to the food bank on a regular basis. The cost of living even in rural areas is horrendous. Come to California if your retired and single your gross income needs to he at least $113,652 annually in order to live your best life.

@mm669

17 күн бұрын

SF Bay area native here and I agree, $113K is needed if you are single and don't want to watch every penny. I make $82K but can only afford basic needs. My entertainment is limited to walking and enjoying the beautiful neighborhood, public library, and volunteer work. I can't accept casual lunch dates with friends, happy hours, dinners, concerts, movies, weekend wine tasting or plays like I use too. $113K is needed for that.

@Justaguywithtruth

16 күн бұрын

California Sucks, Move to Huntsville, Alabama. Great Area..😎👍

@CunninghamLegal

15 күн бұрын

I completely understand if you are happy and have a love for the Bay area (or a love for nearby family), but it might be worth looking into other nearby California counties! California is MASSIVE, even larger than some European counties. Here is a list of some of the most affordable counties in CA: www.kiplinger.com/taxes/cheapest-places-to-live-in-california

@marlajones26

15 күн бұрын

@@CunninghamLegal I live in Trinity Co.

California has great weather...never mind California’s power grid reliability is below average, off the 50 states, only Hawaii (40.22 cents per KWH) has higher residential electricity costs than California’s 29.58 cents per KWH, for these high prices Californians get a power grid that ranks 35th in reliability according to U.S. News and World Report, high fuel taxes (set to rise $0.50 per year next year), 1/3 of all homeless, less than 50% of households pay taxes and they pay for welfare for the other half, California’s violent crime rate increased by 6% from 2020 to 2021 and another 6% from 2021 to 2022. Robberies were up 10% in 2022, Retail theft is up 14%, When sales and property taxes are factored in California has the 12th highest tax burden in the country, no ICE vehicles after 2030, plan a mileage tax on all vehicles, sanctuary state with an estimated 12 million illegals you will pay benefits for, de-criminalized crime, okay if you are very wealthy but they plan a millionaire tax and an exit tax for the wealthy, rent control on the ballot this Nov, insurance rates are spiking, According to the Tax Foundation the business tax climate ranks 48th (Only New York and New Jersey rank lower among the 50 states),California results in the highest poverty rate in the country once the cost of living is factored in-California’s rate of 13.2% is 35% higher than the national rate of 9.8%...but did I mention the weather is great?

@ardentglazier2867

18 күн бұрын

Lived in southern California 45+ years now. Property owners (like me) in fire-prone areas are losing homeowners insurance due to changes in CA state requirements on insurers on how to compute premiums. The State likes to whinge about 'climate change', but everyone locally knows much of the increased fire risk is really about the State's resistance to proper forest & brush management in the State's effort to appease anti-business, anti-logging, and tree-hugger activists who (amazeballs!) don't live in the boonies, but Feel Real Good about their activism. Ask Me How I Know. Cost of materials and labor for property management is up 20% over the last 5 years alon, and show no signs of slowing down. My laborers have to pay COLA too. Early retired I pay $660/mo for the cheapest health insurance on the CA exchange for my age; all I need is catastrophic but that's not an option AFAICT. Silly (IMHO) people here voted for Proposition 19 and supports painting crosswalks pleasing 'rainbow' colors, the latter of which does zip-all concrete for rainbow people. CA hypocritically calls itself 'green' while importing electricity from Montana where power is produced from burning coal. But the weather's great!

@orawancarlile6192

17 күн бұрын

CA goes for off-grid with the help of the state. I will be so happy if the selfish bunch afraid of tax move out of CA because they are the suckers of all tax benefits through healthcare and any things else they can dip their hands into.

@ginacardarella

16 күн бұрын

Yup I'm moving

@catalinacatg8861

14 күн бұрын

We are out by November 2024. Lived here all my life, I no longer feel physically safe and must protect our children's inheritance. Weather is not enough.

@angieharris8015

10 күн бұрын

Touche!! "California has great weather" lolol

I retired in Crescent City, CA from the military at age 38. I teach for a college in Oregon. I really love the beauty of this area but feel like an idiot for retiring here every time I do my income taxes, pay for my car registration, or have to deal with the tax assessor trying to reassess every time a contractor pulls a permit for something. And don’t get me started on the politics. I was a WA resident before I retired and got accustomed to no state income taxes and $200 car registrations (which are now $700). I frequently consider relocating, but haven’t been able to give up the natural beauty and great coastal climate yet. This video helped me feel less like a financial idiot for staying here, but I’m still interested in alternatives!

@CunninghamLegal

15 күн бұрын

From my experience, California is really hard to beat! Oregon has an aggressive estate tax (10-16%) for any assets over $1 Million, so that is definitely something worth considering.

It is benefiting Social Security and will continue to benefit Social Security, but what we really need is immigration reform. With immigration reform, employers will now be required to comply with legal requirements, preventing individuals from receiving illegal payments and avoiding FICA contributions.

@FreestyleJameZ

21 күн бұрын

There are many friends who have supported my overseas retirement; in fact, I've become closer to some of them. However, I've always been a bit of a friend's guy; I work hard and believe that it pays off in many ways. In this case, it paid off with my retirement plan with my F.A. because I've received letters from people asking for support; you know, I've hidden where my wealth comes from, not being stingy but sincere.

@agentjacob4099

21 күн бұрын

Let's talk about that now. First of all, yeah, bureaucrats shouldn't have been doing this. Congress should have drafted the laws with more specificity so that the bureaucrats could merely carry them out. However, that wasn't the case, so the bureaucrats had to interpret the laws.

@angelodgreat6561

21 күн бұрын

For the love of God, could you kindly forward your pro? The lawsuit that the judge informed us about is appointed indefinitely, so they don't really care that we know they are accountable to us. They will pass legislation, Social Security, Medicare, and all the others must follow it.

@CoreyLloydo

21 күн бұрын

flows of Molina and other companies going forward, and so I believe that's one problem right now. Revenue earnings did, in fact, eventually decline last quarter, falling by 1%.

@FreestyleJameZ

21 күн бұрын

Although it pains me to say it, *Leah* *Foster* *Alderman* is well-known; she is the ideal advertisement. ( CoreyLloydo ) This is why it has dropped so much; its relative strength is two, which indicates that only 1% of the market has outperformed this-oops, sorry, only 1% of the market has performed worse than this name over the past year. There is also no dividend here, and at $400 million, it is approaching micro cap territory. The technicals are awful.

I'm a native Californian but have been considering a move to Prescott Valley or Kingman in Arizona. I can take the heat much better than cold weather! As I'm 72 currently, health care is a real concern. My medical is Kaiser Permanente and, frankly, they've been great. My out-of-pocket medical costs are ridiculously low. K-P doesn't operate in AZ., so I'd lose my medical for a time and that's a real concern. My biggest concern are the politics of CA which literally scares me. Anytime you have one-party rule you're eventually going to have issues. I'm convinced that our state legislature really hate the populace and are unconcerned with our well-being. Some of the newer laws they pass up there makes my head swim!! If the legislature's pendulum doesn't start swinging back toward the center soon, that may be the one thing that forces me to eventually get out. That may be made even more difficult as they are considering an exit-tax! Good Grief!! 😮

@mapoune1

17 күн бұрын

Kingman is a hole in the wall, Prescott Valley is much more desirable, so much to do , explore and make new friends, beautiful lakes and surrounding nature. I have property there. Kaiser is in Phoenix but maybe too far for you. Don’t sell your Ca property until you have rented for a year in AZ , this will give you time to experience the 4 seasons ( snow in winter in PV and warm summers in the 90s. Good luck 😊

@SloGoatsGrazingServices-bb4zn

11 күн бұрын

Kingman is trash. Prescott is now little California. Consequently, housing is not inexpensive. Quality medical care outside the major metro areas will be difficult to locate.

40 year Californian here. Gotta call BS on your great health care claim. Outside of OC county, the health care system has turned to shit. Hospitals are inundated with people and most them can't afford to pay. Consequently you only get good care if you can afford to pay out of pocket, and that's if you can get an appointment.

@palace927

20 күн бұрын

UCSD Medical Center and Stanford University Medical Center are some of the best in the country.

@rockscrambler6700

20 күн бұрын

Like I said if you can afford it... The rest of us have to fight for scraps.

@rogerngu830

19 күн бұрын

You’re right, for this and other reasons I’m leaving California in 2025.

@niecek.6473

19 күн бұрын

Loma Linda & Temecula Valley, come inland excellent health care 😊

@southeastoriginal5668

17 күн бұрын

@@niecek.6473agreed. Temecula/Murrieta has great healthcare system.

I use to live in California. Not any more. It is the last place I would ever considering retiring.

@CunninghamLegal

18 күн бұрын

I'm sorry to hear that!

@torsten6777

17 күн бұрын

You should watch this video! It’s not just the most beautiful state, but also has so many advantages over other states!

I live in California for 26 years i move to Neveda last year to retired. Because California have too many crimes and homeless people everywhere. Neveda don't have state income tax when i sell my investment. Neveda don't have health insurance panelty fine when i don't buy health insurance.

@CunninghamLegal

18 күн бұрын

The taxes in Nevada can be very advantageous. Because you are in the retirement period of your life, health insurance may prove to be necessary, and I'd like to encourage you to check out this video: kzread.info/dash/bejne/eZxsrKijlb2_qaQ.html

@aerisgainsborough110

6 күн бұрын

The Health Insurance Mandate should be a reason why people SHOULD NOT be moving to these states (it's not just California,) because said "you must have this, or be taxed," type of policy, is just bad policy. If biteme (or any democrat) wins in 2024, the Health Insurance Mandate will sadly return, at the Federal Level, which means that no matter where one lives in the USA, a living human being MUST have terrible Heath Insurance, or be taxed. Nevada dodged a big danger, by not having Sisolak as governor, unlike California.

1% of $800,000 average cost for 3/2 = $8,000 increases by 1% each fiscal year. The gas $6/gal. Nuts $10 8oz. can. A chicken burrito $12. Today is 7/6/24.

@CunninghamLegal

17 күн бұрын

Sadly, inflation is real. This is why, over time, California’s Prop 13 1% assessment (plus a 2% annual increase) becomes an increasingly valuable property right and hedge against inflation in California.

Start early with diversified investments in stocks, bonds, and real estate. Maximize contributions to tax-advantaged accounts like 401(k)s and IRAs. Regularly review and adjust your strategy to ensure security.

@MA-KEJointVenture

21 күн бұрын

People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.

@katiekilbo

21 күн бұрын

Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.

@vanillatgif

21 күн бұрын

Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things

@amytuttle1621

21 күн бұрын

Thanks for the info. I'll reach out to him immediately

@mfmcintyre

21 күн бұрын

His reputation already speak for him $150K last Month.

Just fyi Jim, the Golden Gate bridge isn't "natural" beauty. Men built it. It's "man made".

@CunninghamLegal

21 күн бұрын

Yes, you're right. It's still beautiful, though!

@Justaguywithtruth

16 күн бұрын

Oakland education system teaches it's Man-Made💩📕🤡🧐🤣😂

Born in California and retiring in California.

@PorscheSpeedster-kz6nc

22 күн бұрын

Same here. Converting our 401k’s to Roth outside of California tax free and will move back to avoid inheritance taxes and get community property state with a full step up when a spouse dies. A good place to die compared to other states.

@hpcam1

20 күн бұрын

Me too.

@jRieg

20 күн бұрын

Blah Ha Ha Ha

Mild climate?! A high of 115 in Fresno today. California is burning up. Water could become a problem in most areas. Oh, the earthquakes!! California probates are also very expensive which means you need to get a lawyer involved to create trusts etc.

@CunninghamLegal

18 күн бұрын

California is one of the few places where five major climate types occur in close proximity. In CA, the Desert, Cool Interior, Highland, and Steppe climates border a small Mediterranean climate. This makes it very diverse! You are absolutely correct about needing a Living Trust or some kind of Estate Plan to avoid California's expensive Probate process!

I have a house in Silicon Valley that I would like to rent out when I retire. Given how California laws favor renters and evictions are difficult; I may just have to cash out and think of taking my plans to another state. I agree with much of lifestyle pros but cost of living (gas,groceries,dinning,insurance etc) is a retirement killer.

@mk500

21 күн бұрын

My father in law has rented out his properties to cover his retirement for decades here in the Bay Area. It’s really not a problem. Just talk to the renters and get to know them before renting. Find families who have ties to the community and give them a bit below market rates. They will likely stay for many years; maybe decades. Treat them well and you won’t have to worry about evictions. You are worried about rare situations.

@mk500

21 күн бұрын

Gas and insurance are easy to deal with. Don’t buy the fanciest gas guzzling new Audi. Instead just buy a few year old Prius. It will sip gas, insurance is dirt cheap, it’s comfortable to get into and out of, and easy to park. We recently moved a queen size bed frame in ours for our guest room! (Hatchback for the win). And there are lots of great inexpensive restaurants all around. You just have to get into the cool neighborhoods and visit where the locals eat. I feel like a lot of people who have money problems in California are just terrible with financial planning, and will likely have exactly the same problem when they move to Texas or Tennessee. We live in SF and I do not think we spend as much on the items you listed as our friends in Austin; because we know where to shop. We live well on fresh produce from the local market.

@toshibamouse60

20 күн бұрын

For rental, it pays if you screen your tenants. I screen my tenants myself and manage my rental properties for many years and I have no issue with tenants. For groceries, etc., it's inflation and it is not just Cali but global. For gas, I switch to EV. Insurance is ok. If u move to say Florida, you get hit with super high insurance. So big picture, I chose to stay. best place to live, and to me it's heaven on earth.

@torsten6777

17 күн бұрын

I do rentals full time in CA. You can get really good tenants in California if you provide them a nice modern updated place. I haven’t had an eviction in many years. My rentals in other cheaper states have more problems, even with more landlord friendly laws.

@Justaguywithtruth

16 күн бұрын

Squatters rights, sell it and move to a Real State🧐🤔🤨👍

This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.

@PitcockRoth-9876

11 күн бұрын

Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.

@CunninghamLegal

Күн бұрын

You can contact CunninghamLegal if you are looking for a referral to a financial advisor!

I decided a long time ago I wasn’t going to move just to get no state income tax. It’s not worth it to me to live somewhere I won’t like as much as California, especially since our income tax is already in my budget and I’m used to it.

@CunninghamLegal

18 күн бұрын

Good for you! I'm happy you found a way to make CA work.

Sorry, the CA regulatory state is destroying agriculture and severely limiting your ability to grow your own food. Oregon is nearly as bad. Both have high income taxes.

This was excellent, thank you.

@CunninghamLegal

18 күн бұрын

Glad you enjoyed it!

IRS do tax you on social security income and yes State of California do not tax on social security income

I love Northern California for over 40 years! 🇺🇸❤

@CunninghamLegal

18 күн бұрын

That's wonderful. Thanks for sharing!

@Justaguywithtruth

16 күн бұрын

That's not California up there, that's Reality with Conservative Good People, Should be separate😎👍

natures good , except politicians

One of the benefits from Prop 13 is being able to take your property tax base with you when you move to another property after the age of 55. I have not yet taken advantage of this, but I am keeping this in mind.

@CunninghamLegal

16 күн бұрын

That's great!

I literally thought this video was going to be a joke…..he’s actually serious 😂😂😂😂

@CunninghamLegal

15 күн бұрын

Of course! Although it may not be perfect, California is a pretty great place to be.

The assessment can go up 2%, not the taxes. My taxes went up more than 2% when my city instituted a large increase in water/sewer charges on the tax bill. If prices go down, you can appeal your assessment. I was told my mom couldn't get Medi-Cal and she made less (she died in 2022). I also think the facilities that take Medi-Cal are limited and probably not too good. Thank you for the video. You pointed out several things I didn't know. Texas 3% tax, ouch.

@CunninghamLegal

17 күн бұрын

Thank you for your comment. This is true that your “base year” value that the “1%” is based on can only increase 2%. However, each area in California can tax property beyond the 1% if such taxes are lawfully passed. These include municipalities, counties and other districts that are not the “State of California.”

Look into Lake Ashton (Winter Haven & Lake Wales, Florida). Absolutely amazing. Less expensive homes, MUCH lower taxes, beaches, theme parks, golf 365. We have people here who came from California and and so happy that they did.

Very informative, Thank you

@CunninghamLegal

11 күн бұрын

Of course! Thanks for watching.

Fire insurance is very expensive in foothills and mountains and becoming not available .

@CunninghamLegal

17 күн бұрын

That's true- fire insurance can be a problem in the more rural areas. That's why California introduced California Fair Plan: www.cfpnet.com/

@mapoune1

16 күн бұрын

I have California fair does not cover liability , strictly fire and for a lower value that would not cover cost of reconstruction. I just read that they have more claims than their funds can cover.

@nancyferrari6743

9 күн бұрын

This is not only a rural area problem. CA has designated certain zip codes that don’t even have hills near them and are cancelling and doubling homeowners insurance policies. People have to remove shrubs and trees within 5 feet of their homes. It’s ridiculous.

Two words. Gavin. Newsom.

Thank u!

@CunninghamLegal

4 күн бұрын

You're welcome!

Great video! One thing I think worth mentioning is the Capital gains tax on sale of home with the $500K exclusion at Fed and State level. Works in your favor if only $500K gain but against you heavily if the excess gain triggers your income to move up several brackets and thus you can be paying another 9-12% on the excess gains on the CA side. Not uncommon for a house bought at $350K and sold at $1.5M. That severely taxed cap gain portion above the $500K exclusion in this scenario is $650K which gets hit already at 15% and then a portion at 20% by the Feds and the gain automatically throws you into the 9.3% California tax bracket without even considering other income so you may jump into the 10.3% pretty easily.. this was based on joint tax tables 2023. Maybe a video would be good on CA gets you on this on, eating away your Cap Gain profits. Additionally there are a series of “Transfer” fees when selling at the State, County and sometimes City level that further eat away on the gains of a real estate sale. Don’t know how this all compares to other states with similar income tax ranges so your mileage may vary in that case. Hopefully I stated all this correctly here.

Beautiful place to live, but it’s damn expensive. BUT I do love the diversity of people and the beach and the mountains and the WEATHER!!

@CunninghamLegal

18 күн бұрын

Agreed!

Up until recently, I was dead set on moving to Henderson/Summerlin, NV in 14 years at age 60.5. Then I kept reading about how bad the healthcare system was there. Now I'm thinking it's not such a great idea to move from a quality healthcare city (San Diego) to one of the worst during a time when I'll increasingly need healthcare more. So I'm thinking I'll stay.

@CunninghamLegal

11 күн бұрын

Healthcare is a critically important consideration!

Great video

@CunninghamLegal

8 күн бұрын

Thanks for the visit.

Born and raised in Norcal, love it.

@CunninghamLegal

18 күн бұрын

That's great! Thanks for sharing.

I think what you're saying is- California is a good place to retire IF you already live here and own property in an area where property values have gone up and are valuable. I grew up in San Gabriel Valley. I couldn't afford to live there now without selling my current property. I now live in a valuable area of San Bernardino County where home prices (07/24) are higher than I would pay, but many rural areas in California are affordable still today, especially when you price in, as Cunninghamlegal has pointed out, the climate and AMAZING natural beauty California has. To me, it is pretty priceless. I've never lived anywhere else so I'm not one to compare, but waking up to the sun, beautiful mountains, weather that calls you outside, beaches, rivers... How much is that worth? I'm blessed where I am, not letting our crappy politics kick me out, and have no plans on leaving.

@CunninghamLegal

Күн бұрын

California is a great place to live! I'm happy you're here to stay.

I've lived in California most of my life, so I already knew most of the things in your video. However, the Medi-Cal information was extremely interesting. My wife and I plan to retire in our current house in just a few years, and I thought we probably wouldn't benefit at all from Medi-Cal, since our income would be too high. But since a significant portion of our income is from 401Ks, if we take the RMDs in December, then it sounds like we potentially could benefit from Medi-Cal for the first 11 months of every year. That would be huge!

@CunninghamLegal

8 күн бұрын

This is a rather new development in California and should benefit many people.

Beautiful place to live, but it’s damn expensive

@CunninghamLegal

18 күн бұрын

It can definitely be both of those things!

How many people just came for the comments. Hahaha!

@CunninghamLegal

17 күн бұрын

It seems that retiring in California is a highly controversial topic!

Retire in California ? I wouldn't even fly over California on my way to somewhere else.

@torsten6777

17 күн бұрын

Sounds like you live in one of those cheap undesirable flyover states.

@Faben202

13 күн бұрын

You’re the one missing out on California’s natural beauty if you’re not visiting. It is not missing out on you.

No asset test for Medi-Ca is crazy!!!

@CunninghamLegal

4 күн бұрын

It certainly is an interesting change!

I live in SF 165k/yr with 3 cats they’re my children $500+ for cat food and pet insurance and the rest go to bills rent food 10% for giving to others, fresh produce is a plus and great weather, minimalist lifestyle, its still paycheck to paycheck. I visited Oregon, Texas, NM I still came back to CA it’s so beautiful and the spiritual energy is amazing!

@CunninghamLegal

16 күн бұрын

Thanks for sharing!

Great video. For all the hardships of subsisting on SSDI, it's worth it to me because of the Medi-Medi care, full variety of healthcare services available for my chronic psych and physical needs. I grew up and have lived here most of my life, so I'm accustomed to the natural beauty, diversity of people and their cultural contributions, diverse cuisine options and fresh foods galore, the social commitment to and respect for education, and a friends network I would be loath to abandon, even while many of my dearest have moved elsewhere to raise families and nearly all my family in the region died off.

@CunninghamLegal

8 күн бұрын

Healthcare is incredibly important! Thank you for leaving a comment with your favorite things about California.

Beautiful climate 🙄 110 degrees for 15 days straight in Sacramento

@Mike-cv7hv

22 күн бұрын

It was 68 on the Monterey Peninsula

@delayedgratification581

21 күн бұрын

110 F isn't ideal obviously, but it's mostly unbearable in the afternoon only (try to stay inside with AC). In Texas and Florida I believe it's the whole summer, 24/7 heat WITH humidity.

@jml9550

19 күн бұрын

110 is not the norm here. We hit 104 in some areas in the Bay Area and this is rare occurrence.

@mariyaterzi7364

19 күн бұрын

@@delayedgratification581 it would be nice to stay home and AC 24/7. Got to work

@MrDennis052

17 күн бұрын

It was 78 at La Jolla.

Enjoyed listening to why California is a great place to live and better to retire in. We love it here!!!!!

@CunninghamLegal

18 күн бұрын

That's great! Thanks for sharing.

Actually I have Sharp health care. They are not any good.

@CunninghamLegal

21 күн бұрын

I'm sorry to hear that you are unhappy with your provider. Here are some resources to find other healthcare providers in California: www.healthforcalifornia.com/covered-california/health-care

Thank you for this information! It makes me proud to be a Native Californian ✌🏻

@CunninghamLegal

18 күн бұрын

Me too!

@Justaguywithtruth

16 күн бұрын

🤖🎪🧐🤔🤨😂👍

they told US that we didn't need to make English the official language by legislation because that was crazy to believe any other language would be used - THEY LIED over 100 languages is a reason CA has one of the worst public school systems in the country

@mk500

21 күн бұрын

I think our school system is great. My daughter attended CA public schools and just graduated. She was able to learn Japanese throughout grade school and could speak and read when we visited Japan. She attended an arts high school, again public, which enriched her creative side with theater, costuming, and music education. Now she thrifts clothes and sews amazing outfits. But she also was able to take AP classes in Calculus, History, Environmental Science, etc. She got into a great college. And none of her schools banned books or limited her access to our great libraries. Our diversity is our advantage! Being multi-lingual (English + another language) has been proven to improve cognitive skills. That’s how it is in California. We are preparing our kids to be leaders and thrive in a world of 8 billion diverse people.

@stanmarcusgtv

21 күн бұрын

@@mk500 CA schools are ranked at the bottom in aggregate - FL is ranked at the top

@rockscrambler6700

20 күн бұрын

40 year Californian here. You're either lying or you've lapsed back into the eighties. Either way you shouldn't be posting.

@tomallen5837

19 күн бұрын

What are you smoking? just because flyers from the state come in 120 different languages doesn't mean they teach anything but English in the public school system. I have two children going through the public school system, including College. Please step away from those who are ill advising you.

@stanmarcusgtv

19 күн бұрын

@@tomallen5837 lol

No way. Grew up there. Never ever going back.

@CunninghamLegal

18 күн бұрын

I'm sorry to hear that!

@greggpurviance7252

18 күн бұрын

@@CunninghamLegal you gloss over the disaster that is now CA. Diversity. Sure, but all the political power is on the coast & you know it. There is an upper class (including retirees with great pensions) & a poor class. The middle is non-existant or screwed. The geography is great. Some of the best in the world.

@lauriestrong9972

12 күн бұрын

Bakersfield?

At what estate value does it make sense to hire your firm for legal services related to estate planning and tax planning strategies?

@CunninghamLegal

10 күн бұрын

Typically, estates with over $1M+ in Net Worth (all assets including retirement accounts, investments, real estate, etc.) see the most benefit from the tax planning that we are able to do with estate planning strategies. But avoiding probate is one of the key factors for creating an estate plan!

28:00 is reimbursement amount based solely on the probated estate or the entire estate? Thanks!

@CunninghamLegal

10 күн бұрын

If there is a “formal” probate in California, the State of California is entitled to reimbursement from the probate estate.

Left out if you like high crime but want a warm, dry climate. 😊

@CunninghamLegal

21 күн бұрын

I think you'll find that crime rate varies greatly by county and encourage you to take a deeper dive into the statistics: www.ppic.org/data-set/crime-rates-in-california/

@vmobile890

20 күн бұрын

You have to pick by crime stats then the home . Also weather will vary many micro climates easy to pick best weather . And location in the middle then 2 hour drive to the snow or ocean .

Lmao!!!

I'd rather be poor and live close to my grandkids in California than be rich anywhere else.

@CunninghamLegal

18 күн бұрын

Absolutely!

@catalinacatg8861

14 күн бұрын

And that legit reason is why seniors are moving here. Unless it is the "takers" to take advantage of the $ giveaways.

@TheSUale

7 күн бұрын

Same here. Family is important as one ages.

Uh no, I want to leave

@debbiemyers7036

17 күн бұрын

Me too. Hate this place!

I’m confused why Granny’s estate isn’t sold to go towards her SNF stay? In Ohio, we had to sell my mothers home and go through that money before she had no money then was placed on Medicaid. I am wondering if California only looks at savings, pensions and SS as pay outs.

@CunninghamLegal

17 күн бұрын

If Granny were in California, the State only looks at the INCOME from those assets and not even the underlying assets anymore. For many years in California, a person who receives care in a skilled nursing care facility can keep a personal residence of any value and not have that counted against them for qualifying for public assistance benefits. You raise an important point that each state has its own laws. The upshot is that if you will likely end up on public assistance benefits, California can be a great place.

After watching your channel (your first episode on this same topic), I've reconsidered and I think it does make sense. Besides I LOVE CALIFORNIA. 😊

@CunninghamLegal

18 күн бұрын

That's great to hear. California is a great place to be!

The Golden State is my love ❤

@CunninghamLegal

15 күн бұрын

I'm happy to hear that!

Interesting that some arguing for California for retirement. Looks like cost of living is the biggest risk but if you can bear that, the weather, food, and everything else seem pretty good

@CunninghamLegal

11 күн бұрын

California is beautiful and culturally diverse. It comes with a cost, but to many, it is well worth it!

san Jose Ca, not apply PRo .13

@CunninghamLegal

18 күн бұрын

Please check out our Prop 13/19 videos: kzread.info/head/PLAoOpG0ejJDdbZcbpUSqTupNVvB6tG5M6

Can you find me an affordable house? Lol

@CunninghamLegal

18 күн бұрын

Sure, take a look in these beautiful California counties: www.kiplinger.com/taxes/cheapest-places-to-live-in-california (Rural areas of the state generally offer more affordable living than highly populated areas)

@zacknelson8918

17 күн бұрын

​@@CunninghamLegal But not in the mts where fire insurance is so high you can't afford to buy a house, you will have to live in the valley or the desert, where it's so hot just move to az or nv at that point

Did you say there is No Capital Gains in California????? Please advise Thank you

@CunninghamLegal

11 күн бұрын

California does have a capital gains tax, but unlike the federal government, California makes no distinction between short-term and long-term capital gains. It taxes all capital gains as income, using the same rates and brackets as the regular state income tax. Here is additional information: www.ftb.ca.gov/file/personal/income-types/capital-gains-and-losses.html

I love your Abel Baker, Charlie Delta. Sounds like you were in the military?????

@CunninghamLegal

17 күн бұрын

Those are actually the names they use in law school to keep it consistent. I also use: Hal = Husband and Wanda = Wife!

My biggest issue is how California taxes state pension and all investments, including 401K and taxable accounts. Anything I can do, other than converting as much 401K to Roth IRA as possible?

@CunninghamLegal

8 күн бұрын

Yes, there are many options. This is why for many clients we recommend a team approach, using an A-Team structure. This is an approach where your savvy estate planning attorney works closely with your Certified Financial Planner and CPA to craft a customized, multi-year strategy to minimize overall taxes and maximize the creation and preservation of personal and intergenerational wealth. Ascent Wealth Management has been on many of our videos and I would encourage you to look at those and set a time to meet with them: www.lindseyandlindsey.com/ascent-wealth-management

What About IRMAA in CA?

@CunninghamLegal

15 күн бұрын

The Medicare Income-Related Monthly Adjustment Amount (IRMAA) is an additional charge on the premiums for Medicare Part B (medical insurance) and Part D (prescription drug plans). This surcharge is imposed solely on Medicare beneficiaries whose Modified Adjusted Gross Income exceeds $103,000 for those filing individually or $206,000 for those filing jointly in 2024.

No idea why Illinois is bad for retirees. Illinois does not tax any retirement income.

@CunninghamLegal

21 күн бұрын

According to TaxFoundation.org, Illinois has a 12.9% State and Local Tax Burden, which ranks the state 44th in Tax Burdens. Take a look here: taxfoundation.org/location/illinois/#:~:text=Illinois%20has%20a%20flat%204.95,tax%20rate%20of%208.86%20percent.

@KrysP125

20 күн бұрын

Illinois has very high property taxes.

best thing is the food, it will take care of your retirement. if you have a few months or years to spare, go to another country to at least spend it with joy and happiness. The united states in general has always been hell while other countries are heaven, with friendly happy people who might not have jobs but they have humanity.

@CunninghamLegal

16 күн бұрын

That's an interesting perspective. Thanks for sharing!

LOL California is a fantastic state to retire only when you have lots of.. I mean lots of money.

@CunninghamLegal

Күн бұрын

That can sure help!

Hablo espanol?

@CunninghamLegal

21 күн бұрын

Nuestro equipo habla español. Por favor, contáctenos en www.cunninghamlegal.com/california-law-offices/contact/ o llámenos a 866.988.3956 Nuestro abogado, Diego Alvarez-Miranda lo puede ayudar. Si gusta saber más sobre él, puede ver su bio en: www.cunninghamlegal.com/team/diego-alvarez-miranda/

Yeah … that’s never going to happen 😎

@CunninghamLegal

18 күн бұрын

To each their own, I suppose!

😂

I pay taxes on my SS. That is 60% of my income. When state taxes were no longer deductible my taxes went up $900 thx trump. My home is almost a million, my prop taxes sre almost 6000. How do you get 7,k fo2 million? You didn't mention we get a living wage. In texas I couldn't even get a job offer without fringe benefits for the employer.

@unclefester6501

22 күн бұрын

What?

@unclefester6501

22 күн бұрын

California doesn't tax SS.

@stanmarcusgtv

22 күн бұрын

you taxes are high because of dementia joe's party and newsom and co make it worse every year

@lukasfoo

21 күн бұрын

The tax was based on 1% of the original purchase price of $500k plus 2% per year increase.