Latest news with #wealthyRetirees
Yahoo
3 days ago
- Business
- Yahoo
10 Most Livable Cities for Wealthy Retirees in the Northeast
Wealthy adults dreaming of enjoying all four seasons during retirement will be pleased to hear about the 10 Northeastern cities that have an excellent quality of life. View More: That's Interesting: GOBankingRates referred to a recent Livability ranking of the top 100 places to live in the United States. Ten Northeast cities were pulled from the list of 15 cities to rank in that region. Each city has a high livability score and a median home value of $350,000 to appeal to rich retirees. See the full list of the 10 most livable Northeastern cities. LivScore: 828 Population: 105,687 Median home value: $495,708 Explore More: Discover Next: LivScore: 771 Population: 87,628 Median home value: $438,054 Be Aware: LivScore: 770 Population: 456,053 Median home value: $376,063 LivScore: 730 Population: 91,134 Median home value: $396,310 LivScore: 704 Population: 86,179 Median home value: $399,885 Learn More: LivScore: 690 Population: 85,851 Median home value: $392,848 LivScore: 680 Population: 230,416 Median home value: $354,664 LivScore: 669 Population: 118,234 Median home value: $371,951 For You: LivScore: 661 Population: 101,089 Median home value: $473,051 LivScore: 656 Population: 208,439 Median home value: $350,645 More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? 10 Genius Things Warren Buffett Says To Do With Your Money This article originally appeared on 10 Most Livable Cities for Wealthy Retirees in the Northeast
Yahoo
24-05-2025
- Business
- Yahoo
12 Most Livable Cities for Wealthy Retirees in the Southeast
Rich retirees who decide to head to the Southeast for their retirement have no shortage of livable cities to choose from. A recent study of the top 100 places to live in the United States included 26 Southeastern cities. GOBankingRates pulled the cities with a $350,000 or higher median home value and high livability scores as ideal for wealthy retirees. View More: See Next: Take a look at 12 Southeastern cities wealthy retirees should consider for retirement. LivScore: 838 Population: 88,964 Median home value: $485,018 Be Aware: Find Out: LivScore: 763 Population: 90,196 Median home value: $368,547 Explore More: LivScore: 758 Population: 476,137 Median home value: $456,019 LivScore: 719 Population: 158,129 Median home value: $463,644 LivScore: 717 Population: 129,311 Median home value: $466,482 For You: LivScore: 710 Population: 290,816 Median home value: $377,377 LivScore: 710 Population: 79,420 Median home value: $420,025 LivScore: 699 Population: 97,470 Median home value: $407,100 Trending Now: LivScore: 673 Population: 408,511 Median home value: $414,677 LivScore: 661 Population: 168,013 Median home value: $398,921 LivScore: 653 Population: 121,465 Median home value: $365,418 Learn More: LivScore: 638 Population: 333,456 Median home value: $388,075 More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? 4 Housing Markets That Have Plummeted in Value Over the Past 5 Years This article originally appeared on 12 Most Livable Cities for Wealthy Retirees in the Southeast
Telegraph
09-05-2025
- Business
- Telegraph
Wealthy retirees blow pensions on holidays to beat Labour tax grab
Are you using up more of your pension because of inheritance tax reforms? Get in touch: money@ Wealthy retirees are choosing to spend their pension on holidays rather than passing it on to their descendants to avoid Labour's inheritance tax grab, research has found. Over half (56pc) of savers aged 45 and over with pension pots of over £300,000 now intend to spend more of their nest egg after Chancellor Rachel Reeves's October Budget, according to a survey by wealth management firm RBC Brewin Dolphin. A further 17pc were unsure, while the remaining 27pc did not intend to change their spending plans. When asked what they now planned to spend their pension pots on, three quarters of respondents said they intended to go on more holidays. Two in five (40pc) said they planned to have more experiences with family members, and a similar share (39pc) said they would give more money to their family as gifts. Unspent private pension wealth will be counted as part of an estate for inheritance tax purposes from April 2027 under changes announced by the Chancellor last year. The move – which will lead to death duty revenue almost doubling under Labour – has led many wealthier citizens to change their inheritance strategies to avoid a huge tax bill for their heirs when they die. Wealth managers have reported clients transferring large sums to their descendants, paying for grandchildren's private school fees and even buying sports cars to reduce the chunk of their estate they will eventually leave to the taxman. Inheritance tax is levied at a rate of 40pc on all assets above a £325,000 threshold, known as the nil-rate band. The allowance increases by £175,000 when a main residence is left to direct descendants. However, these thresholds have been frozen since 2009 even as house prices have risen sharply, meaning even modest estates are increasingly being hit with inheritance tax bills. The allowances are due to remain frozen until 2030. Daniel Hough, financial planner at RBC Brewin Dolphin, said: 'Retirees and people approaching retirement are increasingly looking to spend more of their pension, rather than risk a big portion of it being lost to inheritance tax when they pass away. 'We have seen clients wanting to spend more of their retirement savings on experiences, like travel, and having an amazing time with their families. 'The fact that the vast majority of respondents are planning to spend more on holidays is unsurprising – we've seen a number of cases where parents or grandparents have decided to pay to take the whole family away on five-figure trips so that they can experience something special. 'There is, of course, nothing wrong with wanting to live as full a life as possible and spend money on your family so that they remember having an incredible time with you. But people need to be very careful not to go overboard and leave themselves short for the remainder of their retirement.'
