Winter has a lot of people thinking about warmer weather. For some, that just means an annual vacation down south. But for certain retirees, they choose to live elsewhere through the brunt of winter, becoming “snowbirds.” Is snowbird life for you? Let’s talk about what motivates people to take up temporary residence elsewhere, where they go, and if it’s worthwhile.
We’ve seen that the trend of snowbirds is on the rise, with many clients opting to purchase homes in states like Florida and Arizona. The allure of warmer weather, combined with the potential for financial benefits, is driving this trend. For instance, South Dakota offers unique tax advantages for those willing to establish residency there, making it an attractive option for RV enthusiasts and snowbirds alike.
However, the decision to become a snowbird is not without its challenges. Join us to learn about the growing trend of snowbirds, the planning involved in making such a move, and the financial implications of living in different states.
Here’s what we discuss in this episode:
0:00 – Intro
1:50 – How common is this?
3:10 – Trying it before retirement
4:30 – What you need to know
6:24 – How a financial advisor helps
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