The New York Times reported that people leaving California outnumbered newcomers by more than 700,000 people between April 2020 and July 2022. A further breakdown shows that over 407,000 people left between July 2021 and 2022, plus an additional 343,000 people left California in 2022 alone. That's the highest exodus of any state in the US in history.
So, why are we seeing such a mass movement? The reasons are plenty, from cheaper homes and lower cost of living to lower taxes, escaping a rise in crime, the desire for a more relaxed, family-friendly lifestyle, and even political dissatisfaction. But alongside this significant lifestyle change, there are many elements to consider, like how to choose a state, what will my new cost of living look like, if healthcare needs will be met, what types of social or recreational activities there will be, the logistics of moving, and so much more.
In this episode of A Place of Possibility, we’re joined by Keller Williams Certified Real Estate Planner Lucien Cazanave. Lucien is a born-and-raised Bay Area native who started in the emergency medical field and spent 20 years as an Oakland firefighter. His interest in real estate was piqued when he was tasked with packing equipment for retiring firefighters, where he routinely heard of their dreams and plans of moving elsewhere. These conversations with those firefighters and his personal experiences in moving and helping others move built his passion for helping people buy and sell their homes and even relocate across the country.
Listen in as we discuss:
- The most important factors to consider when moving to a different state,
- How taxes and cost of living in California compare to other states,
- The best ways to learn more about the area you’re considering calling home,
- Rules that need to be met when establishing your new domicile,
- And much more!
Whether you have years to go before retirement or you’re already there and ready to shake things up, we’re positive you’ll find valuable nuggets of information in this episode. Perhaps what you learn from here will shift your perspective and provide new and exciting insights as to how you should spend your golden years. So get comfy and press play!
P.S. Looking to meet with Richard or Angela at our office in Alamo, CA? Want to discuss more of what you heard in this episode? Wondering where the heck you need to get started or what all of this means for your retirement plans? Schedule a free 30-minute session and find the peace of mind you deserve for the rest of your life. You can also reach us by calling 925.736.6410 or sending an email to Info@APlaceOfPossibility.com.
“The first step isn't even about the state. It's about you. What do you want your retirement to look like?”
0:00 Introduction
3:27 In this episode, we’re discussing what you need to consider if you’re planning or are interested in moving out of California for retirement.
5:02 To help us dive deeper into this topic, we’re pleased to welcome guest Lucien Cazanave. With a wide range of unique personal and professional real estate, moving, and downsizing experience, he’s the ultimate resource for this show.
6:26 Wondering how Lucien went from firefighter to real estate expert? Listen in as he shares more of his backstory.
8:02 If you’re considering a big move for retirement, you should first consider what you want your retirement to look like. This will help narrow down possible locations.
9:44 One aspect that is often overlooked when moving to a new state is seasonal changes. That’s why it’s essential to experience your dream state at different times of the year.
11:35 Cost of living is a leading factor in choosing a new state. Forbes has a great online calculator to compare the cost of living: https://www.forbes.com/advisor/mortgages/real-estate/cost-of-living-calculator/usa-average-usa/.
12:34 Did you know that it’s 33% cheaper to live in Phoenix or Dallas than it is to live in California?! The cost of living in other popular states may surprise you even more.
15:33 Many retirees look forward to being able to buy a bigger house. However, there are other factors to consider, like being able to maintain upkeep, recreational activities, etc.
17:07 To our California neighbors wanting to run away from the housing insurability issue, unfortunately, it’s generally a nationwide issue.
18:50 Some states have lower taxes, but you have to consider all the various taxes you could pay to know where you’re paying less. Here’s what you need to know.
22:38 When moving to a different state, healthcare is often overlooked because Medicare is federal. Access to healthcare facilities, however, can vary and make a significant difference in your well-being.
27:29 It’s easy to dream of living alone in a cozy mountain home, but the reality of it mustn’t become lonely. Listen to this portion of the podcast to learn what you should know about community and social opportunities when moving.
29:43 Need help finding a good realtor in a new state? Consider asking your local realtor first for recommendations.
31:07 Next, we discuss how to determine if your new community is a safe place to live. Listen in for special tools of the trade!
32:48 Once you’ve considered all the details of moving out of California, the next step is to try your new location. Lucien has exceptional advice on how to do this and possibly even get tax breaks in the process!
34:10 We’ve covered A LOT regarding an out-of-state move, but the list isn’t complete yet. People often overlook the logistics of moving, rules for establishing your new domicile, setting up a new driver’s license, registering your cars, etc.
37:02 To wrap things up, Lucien shares a few more details about how you can start working with him. For more information, you can reach Lucien through his contact information below.
Get in touch with Lucien!
Lucien Cazenave
Realtor® Partner | DRE# 02178477
KW Certified Real Estate Planner
(m) 1.415.420.9099
Rate, Review, and Follow Us!
“I LOVE Richard, Angela, and A Place of Possibility™ Podcast!” Sounds like you? Then, we hope you will consider rating and reviewing the show. Your support will help us expand possibilities and opportunities to more individuals and families out there like you who want to keep, grow, and enjoy their wealth. So, follow this link, scroll down, and click to select five stars and write a review. This show is all about YOU, so tell us what you love and want to hear more of!
Haven’t subscribed to the podcast yet? What are you waiting for? Your financial wellness depends on it! Okay, that might be a little dramatic, but we don’t want you to miss a minute of our insights or all the freebies coming your way. Subscribe Now!
Links/Resources Mentioned in this Episode:
- Forbes Cost of Living Calculator
- Find and view recent crime by location: com
- Episode 023: Downsizing, Relocating, or Assisted Living? How to Prepare for a Senior Move
- Episode 027: The Current State of Property Insurance — Are You Really Covered for a Loss?
- Ensure your family’s wealth will live on for generations to come. Order your copy of Endless Inheritance by Richard Del Monte today! https://aplaceofpossibility.com/endlessinheritance
- Ready to become a better investor? We’ve got the strategies you need. Download a FREE copy of our e-book, “Evidence-Based Investment Insights.” https://aplaceofpossibiltiy.com/evidencebasedinsights
- Del Monte Group offers a variety of free resources to help you make innovative and educated financial decisions so that you can keep, grow, and enjoy your wealth starting now. Find them by visiting https://aplaceofpossibility.com/resources.
“One-size-fits-all” won’t fit you here! The Del Monte Group team understands that everyone’s financial goals are unique. That’s why we always provide customized advice. No matter where you are in life, you can depend on our proven expertise to provide financial planning support for long-term success. Ready to get started? Schedule a meeting with Richard or Angela in our Alamo, CA based office today or we can meet via Zoom! >> You can select a date and time that works for you via our calendar, call us at 925.736.6410, or send an email to Info@APlaceOfPossibility.com. We can’t wait to help you!
IMPORTANT DISCLOSURE INFORMATION
Past performance is no guarantee of future results. Different types of investments involve varying degrees of risk. Therefore, there can be no assurance that the future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended and/or undertaken by Del Monte Group, LLC [“Del Monte”]), or any consulting services, will be profitable, equal any historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. No amount of prior experience or success should be construed that a certain level of results or satisfaction will be achieved if Del Monte is engaged, or continues to be engaged, to provide investment advisory services. Del Monte is neither a law firm, nor a certified public accounting firm, and no portion of its services should be construed as legal or accounting advice. Moreover, you should not assume that any discussion or information contained in this document serves as the receipt of, or as a substitute for, personalized investment advice from Del Monte. A copy of our current written disclosure Brochure discussing our advisory services and fees is available upon request or at www.delmontegroup.com. The scope of the services to be provided depends upon the needs and requests of the client and the terms of the engagement. Please Remember: If you are a Del Monte client, please contact Del Monte, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. Unless, and until, you notify us, in writing, to the contrary, we shall continue to provide services as we do currently.
Historical performance results for investment indices, benchmarks, and/or categories have been provided for general informational/comparison purposes only, and generally do not reflect the deduction of transaction and/or custodial charges, the deduction of an investment management fee, nor the impact of taxes, the incurrence of which would have the effect of decreasing historical performance results. It should not be assumed that your account holdings correspond directly to any comparative indices or categories. Please Also Note: (1) performance results do not reflect the impact of taxes; (2) comparative benchmarks/indices may be more or less volatile than your accounts; and, (3) a description of each comparative benchmark/index is available upon request.
*Please Note: Ranking Limitations. Neither rankings nor recognitions by unaffiliated rating services, publications, media, or other organizations, nor the achievement of any professional designation, certification, degree, or license, membership in any professional organization, or any amount of prior experience or success, should be construed by a client or prospective client as a guarantee that the client will experience a certain level of results if the investment professional or the investment professional’s firm is engaged, or continues to be engaged, to provide investment advisory services. A fee was not paid by either the investment professional or the investment professional’s firm to receive the ranking. The ranking is based upon specific criteria and methodology (see ranking criteria/methodology). No ranking or recognition should be construed as an endorsement by any past or current client of the investment professional or the investment professional’s firm. ANY QUESTIONS: Del Monte’s Chief Compliance Officer remains available to address any questions regarding rankings and/or recognitions, including the criteria used for any reflected ranking.
