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A Liberty Retirement in Alabama

March 19, 2021 By E.J. Smith - Your Survival Guy

Pier at Daphne, Alabama Bayfront Park on Mobile Bay during sunset. By George Dodd III @ Shutterstock.com

Once you finally make the decision to retire, and you shut off the flow of new income into your portfolio, your expenses quickly become the center of your attention.

Your cost of living means a lot in retirement. One place where you can get more for your money is in Alabama. Birmingham and Montgomery are two of the least expensive cities in America to buy a midsize home.

Being careful with your money in retirement is important, but maintaining a FIRE mentality during your working years, and saving more ahead of retirement is the best way to unlock the power of compound interest.

If you’re looking to be a member of my Survive & Thrive club, click here.

But a “Liberty Retirement” isn’t only about saving your money. It’s also about living free. Alabama’s state government is run by Governor Kay Ivey, who maintains an A rating from the NRA. The state also has a “Castle Doctrine” law in place that allows residents to protect themselves in the face of danger.

Alabama also protects employees’ right to work by banning forced unionism.

When it comes to the cost of living, Alabama sweetens its low property prices with the nation’s second-lowest property tax rates. And as an added bonus for retirees, Alabama fully exempts Social Security benefits from income taxation.

Action Line: You can build yourself an “island,” in Alabama, or any state that treats you well. Read about some other great locations for “liberty retirees,” here.

Originally posted on Your Survival Guy.

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E.J. Smith - Your Survival Guy
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998.

E.J. has trained at Sig Sauer Academy in Epping, NH, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.

E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@yoursurvivalguy.com

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