You may recall this piece I wrote to you, Maximize Your Retirement by Leaving Income Taxes Behind. A reader friend of mine wrote and asked why our favored state of New Hampshire didn’t make the cut. After all, he noted, what’s not to like about no sales or ordinary income taxes? Agreed. But unfortunately, NH does levy a five percent tax on dividends and interest—a form of income especially in retirement.
There’s always room for improvement. New Hampshire legislators introduced SB 404 on March 15, 2018, which would have phased out the five percent tax over a five-year period and ultimately repeal it on Jan 1, 2024. It didn’t receive the necessary votes, but it’s likely to come up again. I’ll keep you posted.
Having spent Thanksgiving at our cabin in Bartlett, NH and additional time in North Conway, I can tell you without a doubt that New Hampshire remains one of my favorite ski areas in America—and a state I’m never in a rush to leave. And believe me, neither is my friend.
Anyway, our email interaction ended this way. I think you too will agree with his P.S. Enjoy:
E.J.-Forgot to mention that I too WAS a drummer. First inspired by the Dover Highlanders pipes & drums band in our 4th of July parades back in the early 1960’s. Then firmly cemented by the Beatles and rock scene of the day. Bought my first drum set from Ted Herbert’s Music Mart in Manchester NH in 1966. It was a Ludwig Super Classic set in silver sparkle and ordered with Zildjian cymbals. Much to my disappointment it came in with Paiste cymbals (which I had never heard of!!) but I was a young kid and ‘that was the way it was’. I paid $650 for the kit and it featured the infamous Ludwig Speed King pedal which I loved.
Nowadays I’ve picked up strumming the guitar with my “YouTube” backup band and still have lots of fun!!
P.S. Damn I wish your father in law was still at the helm of Intelligence Report!!!! 🙁
MORE: Fed Chairman Jerome Powell is in the “Danger Zone.” Read about his Top Gun moment here.