Retire in Tennessee or New Hampshire? (Let's Compare)

[@joesixpack7551]

I'm in Kingston, TN and pay $1,300 in property taxes on my 34 acres overlooking Watts Barr Lake - Two bedroom, two bath 6 car garage.

[@truthseeker6338]

I pay 8k a year in property tx on a 4 bedroom house in Humble Tx,too much

[@chickencharlie9828]

@@truthseeker6338 Consider yourselves lucky. In LI, NY, the taxes range from 13,000-25000 in my area, and it's by no means a wealthy area. It's an average middle class area.

[@FIRED13]

@@chickencharlie9828 yeah with prices like that, wonder why you stay middle class ; )

[@XGenBoomer]

@@chickencharlie9828 Absolute facts. People in Long Island LAUGH at the “high” property taxes in New Hampshire ✊🏿

[@AgendaInMind]

We were visiting Kingsport and NE TN last week! Went to Bays Mountain for a walk, very nice town! Definitely considering this exact area when we escape NJ and retire in 8-10 years. Besides the sheer beauty and wonderful people in TN, I need a well not chlorinated “city” water. Are wells the norm in the rural areas in NE TN? It’s like bathing in a swimming pool.

[@thepokerpilotapp]

With the same circumstances NH residents will pay $4,000 more in property taxes, $1,200 more in electricity, $300 more in gasoline, but $900 less in sales tax. The NET is NH residents pay $4,600 more for the same things in TN. Over a 25 year retirement this equates to $500k.

[@richardcarlin1332]

NH also has a dividend and interest tax over $2,500.

[@thepokerpilotapp]

$4,000 extra in real estate in new hampshire far exceeds the Tennessee sales tax of approximately 10%. One would have to buy $40,000 worth of things to generate the $4,000 in sales tax which no one would do. Also, the 10% is not assessed on groceries, possibly your largest expense. Grocery tax in TN is 4%.. NH kilowatt hour is almost double. Gas is 20% higher.

[@moneybee]

Really great breakdown of the expenses and hidden costs/taxes associated with both places. Great video, it's always fascinating to learn what it's like to live in other parts of the country!

[@barano9729]

Nashville these days has gone off the radar for a lot of people thinking about moving to Tennessee, grossly overrated and ridiculously overpriced.

[@thepokerpilotapp]

Most states don’t tax groceries. Only the following do. HI, ID and IL at 1%. KS, MS and MO at 1.23%. OK at 5%. SD at 5.5%. TN at 4%. UT at 1.75% and VA at 2.5%.

[@dmoon9037]

Other states fun to compare: SD, NV, WA.

[@chichimikey8112]

Josh, I live in Tennessee in a county "next door" to Davidson County (i.e., Nashville.) You are very correct about the politics of Nashville as it used to be more conservative but has made a real shift to the left in recent years. BUT...all of the counties surrounding Nashville are very much the opposite. What we are seeing in many of the areas of the country when it comes to "Urban vs. Suburban/Xurban" politics and neighborhoods is also playing out in Middle Tennessee...and I've head in Chattanooga as well. All of the counties surrounding Davidson County in Tennessee have been on a long building/growing boom (although different counties have seen this at different times/phases) over the last twenty to thirty years. You can still find some (and I stress some) affordable housing in the Davidson adjacent counties...but if affordable housing is at the top of your list and you're looking to move here, you might want to try to do it pretty soon. The exits from big cities of "rational and reasonable" people is well underway as we see from the news reports...and it looks like that is about to take shape in Nashville. The Police Chief (who is a GREAT guy) just retired from the Metro Nashville Police Department, and the Mayor has already done some shifting to the left. If that's your style, you should fit in quite well in Nashville. If not, you would fit in quite well in the surrounding counties which are overwhelmingly TRUMP counties. By the way, one commenter said Tennessee higher education is not good. I disagree. Higher education in Tennessee can be excellent if you know what you want to do and are willing to work towards a meaningful degree. But If a person is not diligent enough to think through their decisions when it comes to higher education, no one should be surprised at a poor outcome. This is not meant to criticize any previous commenter's situation or thoughts, just that Tennessee offers opportunities for those who think ahead. Vanderbilt is very, very expensive, but there are other good choices. The University of Tennessee, Middle Tennessee State University, and the University of Memphis all offer very good to exceptional programs in a variety of degrees ranging from Nursing to Education to Business...etc. There are other good programs at other schools as well. You can go to a good Law School, a good Vet School, a good Pharmacy school, etc. in Tennessee.

[@cutehumor]

we must hang out with a different crowd. I remember folks telling me University of Memphis was "tiger high" back in the 90's! The school mascot is Tigers. Many uneducated nitwits live in Memphis, TN. They don't value education and it's why the reputation of Memphis, TN sucks

[@darylmiller8911]

I live in California and every time you say something is expensive, doesn't come close to California. Real estate cost, total property tax amount, sales tax, and utilities.

[@NC-it6im]

California sucks, believe me I live here!

[@brucesmith6868]

Guy I work with bought land in TN years ago, now he is retiring and packing up.

[@cutehumor]

sales tax in my city in TN, which is 9.75% I get hammered on utilities and the water bill is super high to irrigate my lawn. :)

[@FIRED13]

Are there sales tax on groceries?

[@chichimikey8112]

@@FIRED13 I live in Middle Tennessee. I'm looking at a Dunkin Donuts receipt from August 5th where I purchased a large coffee and a large tea. The total (without tax) was $3.59. The tax was .35. The total was $3.94. Yes, there is a sales tax on food/grocery purchases.

[@chrischapin2936]

Property Taxes in New Hampshire are by town. Some towns like Hales Location and Harts Location have very low Property Taxes.

[@joesixpack7551]

The people down here are much more friendly too. Compared to Chicago, Washington D.C., etc it is night and day the difference. People won't even acknowledge you up north, down here is it much nicer.

[@realrainpoursx]

TN > NH. Being from New England myself, Tennessee is where it’s at.

[@joesixpack7551]

...no sales tax on groceries in TN

[@HeritageWealthPlanning]

Wow... did not know that

[@thepokerpilotapp]

4% actually

[@fredost1504]

You must not live here. There IS sales tax on Groceries. Epic fail.

[@edinnorthcarolina--ovelhog5786]

Fred Ost so the sales tax on food is less than half of that on other goods? That’s not really an “epic” fail. Thanks for the info though.

[@joesixpack7551]

@@thepokerpilotapp oops, you are correct. I knew they dropped it years ago, but I guess they just dropped it down to 4%, which is way less than the regular TN sales tax rate.

[@Gilboa1985]

Hi Josh, in the south of Boston suburbs of Mass, they tend to be more conservative or middle, the liberalism comes from Boston, Brockton, New Bedford and these cities mostly I am from south of Boston and mostly vote Republican. I also hate Warren and Markey as our senators ... We are really a weird state when it comes to politics.

[@HeritageWealthPlanning]

How about Gloucester and the Newburyport area’s? Big libs?

[@realrainpoursx]

I’m from central mass, Worcester, Leominster area and can confirm the entire state has gone bonkers. They’re all libs. Will absolutely never in a million years move back there.

[@buckeyedj8255]

My wife and I are waiting to move to Tenn in the next 5 years. I've been living on Zillow and even took a long weekend to drive down and take a look around. We want to have some mountain views, but don't want a log house LOL.

[@HeritageWealthPlanning]

I assume you live in Michigan now, rigjt? 🤣

[@buckeyedj8255]

@@HeritageWealthPlanning HHhmmm.... That would be a solid "NO"......

[@fredost1504]

Well you can git ya a nice double wide in TN taxes on on acre. Super cheap taxes.

[@HeritageWealthPlanning]

@@fredost1504 nothing wrong with that.

[@FIRED13]

@Buckeye DJ what area(s) are you looking at? Maybe we can play a vacation to TN to take a look in the next few years

[@edinnorthcarolina--ovelhog5786]

In the end, the Welfare State must be funded. At least with a high sales tax, everyone has skin in the game, not just “rich” property owners. A high sales tax is much more equitable and more difficult to raise further than property taxes on “rich folks.” You pay for consumption not just for .gov determined inflated property values. Let’s raise the sales tax to 8-10% and do away with property taxes altogether in our Libertarian Utopia.

[@lukehussey4365]

Freaking awesome. I watch this one video and you mention Dover, NH. My family has been there and from there since 1902 or something like that...no one knows about Dover! Would love to go back when I retire in 10 years, but not so sure I can transition from Florida! What do you think

[@imperialkhmer6146]

I just love Tennessee compare to New Hampshire. You can't go wrong with over 600 waterfalls 😍

[@HeritageWealthPlanning]

And low property tax too

[@imperialkhmer6146]

@@HeritageWealthPlanning I need a waterfall property and new hamshire does not offer that. Where as in TN there are numerous waterfall properties that can be privately own with a cheap cost.

[@joesixpack7551]

...also, the first two years of college are paid for by the state lottery, so there's that if you get here before your kids move out. Come on down to TN!!!

[@cutehumor]

The college here suck except for Vanderbilt. Lol

[@edinnorthcarolina--ovelhog5786]

cutehumor really? It isn’t University choice, it’s degree choice. That kind of attitude is why we have a Student Loan problem. I went to a crappy College in W.V. that no one has ever heard of and I make a boat load of money per year. No one has asked me where I went to University in about 40 years. It doesn’t matter.

[@joesixpack7551]

@@cutehumor MTSU is supposed to be pretty good... also, since only the first two years are covered, you can likely get all your electives to transfer for your junior and senior years somewhere else.

[@cutehumor]

@@edinnorthcarolina--ovelhog5786 what about those who major in psychology and have 180k student loans and went to a crappy school ? LOL

[@luisahernandezmunoz8332]

Please please Mr Josh por favor make one for Virginia God Bless You

[@HeritageWealthPlanning]

Man, Virginia is top on my list Luis!

[@pashanoble9359]

New Hampshire would be perfect if it was geographically in Maryland. It's too dam cold up there. You're right, Florida is too hot and it's so cookie cutter. There's no diversity. Everything looks the same.

[@elisabethmiller8335]

Both states are too humid for me! Staying in the west!

[@HeritageWealthPlanning]

What state are you in?

[@elisabethmiller8335]

Heritage Wealth Planning Moved at the end of December 2019 from California to Nevada. Will soon move to Mexico to further reduce my expenses!

[@joesixpack7551]

Yes, the summers down here are pretty brutal, but you just have to have a summer cottage up in Canada for July/Aug and it works out great! ...except this year with the WooWhoooFlooo shutting the border

[@NC-it6im]

Elisabeth Miller lucky you moved from California, this state sucks!

[@bridgetlarson5443]

Good stay away from the east coast!!!!

[@bruced.370]

What about school tax? Here in upstate NY is more than property taxes...

[@HeritageWealthPlanning]

Basically NY is unique, from what I can tell, where you have a separate school tax. I don’t even remember that in NJ

[@chickencharlie9828]

@@HeritageWealthPlanning It's torture here on LI, NY. The property and school taxes range from 13000-25000 in my area. My area is an average middle class neighborhood. Definitely, not wealthy. I'm seeing lots of for sale signs. More so now than a few months ago.

[@July.4.1776]

Fly down to Franklin TN on the 22nd😊

[@jtroi5523]

Josh, I love the content of these videos you do (comparing states). Know what, I’d love if you would do a “Can I afford it” type video like Suze Orman did. You can start with me. I’ll send you my financial details if you are interested in doing something like this. I want to buy a #econd home.

[@CurtS1957]

We are looking at Alabama from NC. Z👍😎

[@bccron]

Please compare TX to NV and CO

[@sgoodhew]

Can you do TN vs AR?

[@joesixpack7551]

I moved down to TN from the Chicago area and heating systems down here are typically 'heat pumps' which are air conditioners in the summer and it runs backwards in the winter - all on electricity, since electricity is cheap. Some have natural gas if you are in a metro area, but propane is big if you are in the boonies, so you can have a gas range and heat if you like.

[@HeritageWealthPlanning]

Oh man... now that sounds fantastic!

[@craigbryson6340]

I enjoyed this video, can you do a few more comparisons states. I'm currently in CA and I need to get out. thanks

[@susanbowenmcgregor5036]

I may be part of the great Exodus too - staying and fighting now, but don't know how long I can. I would most likely stay in the west (still have a son here....would hate with lockdown and economics and age to not be able to see him and friends, etc. Plus I think Im a westerner. would like to see some western state comparisons - I need to work - Im 58

[@dancasey9660]

What do you know about Delaware?

[@fredost1504]

Its Joe Bidens state. Ill try to avoid even driving in DE.

[@dancasey9660]

@@fredost1504 Let's put politics aside for the moment as we're all dealing with politicians we don't like on the left and on the right, and keep it to the question of how it stacks up as a low tax state. Is it a state worth considering when planning a retirement move?

[@July.4.1776]

Fred Ost ... I agree everything is political the dems destroy everything they touch.

[@July.4.1776]

If dems run it get out.

[@stephtraveler7378]

You forgot the unspoken.... People move to NH to escape racial diversity... The demographic statistics speak for themselves. TN has high sales tax. Its one of the rare states (13) that charge sales tax on food at nearly 10%. Nashville has no locals. Taken over by northeast transplants and Californians transferring the tech industry to TN. Memphis is no longer part of TN. We gave it to Mississippi. Having said that, freedoms in TN are fantastic. Lots of open spaces and forest. No excessive laws. Tired of waiting on a red light? Look all directions and proceed. Crime is bad in the inner cities, duh... but very safe outside the hood. Don't come here. its sucks. please stop coming here...grin...

[@XGenBoomer]

I like in Vermont and you would be surprised at how diverse NH actually is. Especially compared to Vermont YMMV ✊🏿

[@JA-yg7nc]

The slapping of your mouse and keyboard is annoying af. You lost me at that point.