[Guam is an odd place economically because it is so remote. Most places that are low tax have a low cost of living, here it is low tax and expensive. 91 octane gas for my Mazda is $4.85 a gallon right now. A loaf of generic bread is $4.25 and ground beef or pork are over $3.00 a pound. Apples or grapes can be over $4.00 a pound but you can grow watermelons, mangoes, and papaya in your yard as well as other tropical fruits. If you are into exotic cheeses and wines this is not the place to be.
Taxes are low. The property taxes on our house valued at $300,000.00 was $674.00 last year. There is no sales tax or territorial income tax, just US income tax which all stays on Guam.
The real issue is the nepotism and corruption in the local government and the fact that the culture views laziness as a virtue (Which isn’t always a bad thing).
Despite some of the negative things, Guam is still a really pretty place and, if you can afford it, a good place for a retiree to live.]
“You never thought of moving to a no state income tax place like Florida or Texas?”
Yes, we have.
My wife retires from her job in Hong Kong next year. After that, there will no reason to stay here. Currently she commutes to Hong Kong where we still have a small flat