How Rising Costs Are Reshaping Retirement Dreams In Idaho

Ahhh, retirement, the days of not having to wake up working for the man or woman. Your life is your own; you can do whatever you want —wake up late, stay up all night. Being retired is the answer to many Americans' dreams.

However, regardless of how well we plan — or don't— outside events can influence or derail our dreams of easy street. Wall Street has been on a rocket-ship ride for the last 10 years, as fortunes have been made.

Remember the crash of 2008? The federal government had to save the world's financial system. If the administration hadn't bailed out the banks, who knows where we would be today? 

Idaho is a great place to live; however, living on a fixed income can be challenging. Whether the income is from Social Security, retirement funds, or a pension, the cost of living continues to rise in the Gem State.

Many retirees worry they'll lose their homes due to the continued rise in property taxes for seniors.
There is a specific type of retiree who has moved to Idaho and continues to move there. They have a lot of money and a solid, consistent stream of revenue, and some have their medical needs covered forever.

Most of these folks are public service workers —police, teachers, firefighters, and other government workers — who rely on state- or federally funded pensions. The money is guaranteed unless the state cannot service the debt. Some people are double or triple dippers; in other words, they have three retirements.

Idaho continues to grow, but at what cost. Experts say cheap living is not the Idaho way unfortunately.