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Kiplinger
Kiplinger
Business
Maurie Backman

We’re New Yorkers With $3.8M. We Plan to Retire in South Carolina, but My Wife Worries We Will Regret It.

(Image credit: Getty Images with Gemini edit)

Question: We’re New Yorkers retiring with $3.8 million and considering a move to South Carolina for better weather and lower taxes. We can sell our $1.3 million home and buy a similar one for $600K. My wife worries about missing our family, rebuilding a social life and making friends. I think we will be fine. Am I being unrealistic?

Answer: New York can be a great place to raise a family and launch a successful career. But it can also be an expensive place for retirees.

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