Dear Mr. Berko: If you think it’s a good idea, we’d like to invest $25,000 each in three regional banks for our self-managed retirement account. During the last 14 years we earned an average annual return of 8.2 percent. I think continued improvement in the economy warrants this purchase. We’ve selected PNC, and I would like you to recommend two more.
We also have a modestly successful architectural practice. The high taxes here are killing us. We’re vacationing to Florida and thinking seriously about moving there. I’ve been offered an equity position with a firm in your area and was hoping you might know of them.
— C.P., San Diego
Der C.P.: Wow! That 8.2 percent is an impressive 14-year record.
The problem with most folks retiring to Florida from high-tax states is, when you vote as Floridians, you vote for the same bloody politicians who raised your taxes in California, New Jersey, Illinois, etc. Stay there. There are so many of you here that vehicular traffic becomes assaultive, restaurant prices increase 20 percent, and waiting lines at retailers, theaters, even physician’s offices become intolerable. Your record numbers diminish our quality of life. Florida has 386 people per square mile. Move to Texas, which has 98 residents per square mile and no income tax.
I recognize the name of the firm that you may join. They’ve a good reputation with clients in various cities and have been in business for longer than I can remember. An architect I know in Tampa tells me it’s a high-class firm with “exceptionally good political connections.” That’s important. Your visit to their Florida office will tell you if the job-fit warrants leaving the Left Coast.
