Snow Birds: Heading South
BOSTON (CBS) - It happens every year around the beginning of October. The RVs are gassed up and heading south.
If you were out this weekend near any major highway you are aware of the phenomena that occurs here in the northeast. The snow bird migration has begun!
With the cooler weather here heading south has some strong appeal. And by south I mean further than Connecticut. Retirees often want the best weather months wherever they are.
When it's snowing and blowing with temperatures hovering around 30 degrees in New England the snowbirds want to be somewhere where it's a sunny and a pleasant 75 degrees. When Arizona hits 120 degrees in the summer or Florida's low temperature for the day will be 95 they want to be on the Cape where it's a pleasant 75 degrees.
Some head out as soon as the first frost hits the pumpkins in October coming back when they can plant their geraniums outside.
Other Snowbirds want to leave New England during the worst of the winter. January, February and March seem to be prime months. They leave after the holidays and return in April for the Red Sox's season.
But to accomplish snowbird status you really need to do some serious planning. If you want to be a snowbird there truly is more to it than just forwarding your mail. It is hard to pack it up and leave for months.
Where do you want your primary residence? Arizona, Florida, Massachusetts? So do you buy a second home? Do you rent? Do you live in an RV for a couple of months and in a house somewhere full time?
Where do you want to die? That decision effects whether your estate will owe taxes when you do die? Do you want to pay estate taxes?
Many retirees are leaving Massachusetts because they will incur an estate tax if their estate is valued at more than $1 million.
There are so many decisions to make. I thought we'd spend the week sifting through this stuff.
One more thing: Check out Retirementliving.com and the Snow Bird Helper for information on places to retire, senior housing, communities, state taxes, RVs for sale and much more.
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You can hear Dee Lee's expert financial advice on WBZ NewsRadio 1030 each weekday at 1:55 p.m., 3:55 p.m., and 7:55 p.m.
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