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Old 06-29-2011, 04:49 AM
 
Location: On a Slow-Sinking Granite Rock Up North
3,637 posts, read 5,264,507 times
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Quote:
Originally Posted by ClownShoes View Post
Start a small land scaping business. Nothing crazy, but all those out of State people would gladly pay 20 bucks an hours for someone to maintain their property.

Start small, just maintain their lawn. Word of mouth works wonders....

You would be surprised how many of those businesses we have. That and small carpentry businesses are big as well. I know of several people who make money cleaning, opening and closing homes on the coast as well.

The thing to remember is that anyone who's self-employed like that, will often have to skate for several months on one the seasonal jobs - depending what the market for the service is, so oftentimes, averaged out over the course of 365 days, that's not necessarily $40 - $50 an hour (unless they also plow in the winter).

Anyway, back on topic, I think a lot of retirees can live more easily up here because comparitively speaking, property is less expensive.

One can pick up a house for fairly little money in areas which have lost suitable employment. If you have a pension coming in and other means of income (like a small side business or rental properties) it's easier IMO.
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Old 06-29-2011, 07:02 AM
 
Location: Bar Harbor, ME
1,922 posts, read 3,666,081 times
Reputation: 1287
According to Money Magazine, the retirement income of people varies widely with the amount of education that they managed to get when they were working.

Those who got a high school diploma and stuck with that through out their working career, who are retired and are 65 or older, have a retirement income of about $29K. Those who got a BA/BS degree have retirement incomes in the neighborhood of $45K. Those who got graduate degrees(MA, MS, MEd, EdD, PHD, ETC) have retirement incomes above $60K per year.

Of course those who didn't save anything and just lived high or low on the hog did not have anything other than small Social Security income. You pretty much had to put out 10-11% of your income after taxes into some kind of retirement plan at each of these income levels to get these returns into retirement.

It goes without saying, that those people who did not choose by hook or crook to work their tails off getting into college and getting a degree, paying off college loans, and working on graduate degrees while working full time in early adulthood, probably with little kids in the house too, and then paying off those loans, while also saving 10 of income per year for retirement, won't have as big a retirement income. They shouldn't be out there begrudging those who chose to take that difficult route, but now have a much higher retirement income. Of course they will, anyhow.
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Old 06-29-2011, 08:08 AM
 
Location: Log "cabin" west of Bangor
5,488 posts, read 6,430,519 times
Reputation: 9390
Quote:
Originally Posted by mainebrokerman View Post
Property taxes vary greatly, from town to town

My tax bill just jumped to $1100, it use to be 800 20 yrs ago when i bought the property.

I have waterfront property- if i was in the neighboring town, the taxes would be 3 times this amount.

Ironically, the larger cities/towns with a larger tax base, have much much higher tax rates- I wonder why that is-more services? street lights? schools? or more "hands" in the mix to spend more than whatever they take in, and more salaries of town officials, and figure-heads?

I have another property in a "city" in maine, im too embarassed/frustrated to admit publicly, what the taxes are!

Anyone looking for a place in maine-research the tax rates of the different towns,, they vary tremendously!
A $300 increase over 20 years doesn't seem huge to me, in contrast to my house in MA (1100 sq. ft. 1920-era 'camp' on 1/4 acre) which went from $1200/yr to $2500/yr in the space of 5 years.

I think the schools eat up a lot of it, and the SPED requirements eat even more of it (proportionally). In MA, in a town of 7500 households the annual regular education budget line item was $24,000,000.00. In contrast, the SPED budget (representing less than .01% of students) was an additional $12,000,000.00.

I can't put my hands on the most recent annual report for the village here, but if memory serves, the schools get the biggest chunk...which is dismaying because it seems as though the costs keep going up but the quality of education seems to be going down. Kids manning cash registers these days don't even seem to be able to do the simple math to make change, if the machine doesn't tell them how much to give back they are lost.
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Old 06-29-2011, 09:44 AM
 
Location: Bar Harbor, ME
1,922 posts, read 3,666,081 times
Reputation: 1287
Quote:
Originally Posted by Zymer View Post

I can't put my hands on the most recent annual report for the village here, but if memory serves, the schools get the biggest chunk...which is dismaying because it seems as though the costs keep going up but the quality of education seems to be going down. Kids manning cash registers these days don't even seem to be able to do the simple math to make change, if the machine doesn't tell them how much to give back they are lost.
And most of th reason for this is the unfunded mandates by your federal and state governments. Right now, the cost of special education is going up at the rate of 10% per year. There is no way out of this except by not taking any federal funds that come directly from the Feds or the Feds through the state: Impossible!

A second unfunded mandate is No Child Left Behind which requires that every child be proficient in Math and Reading by 2014. This is impossible. The law makes no adjustment for those kids who have low ability, or for whom their lives are so screwed up that they don't attend school or are overwhelmed by dysfunctional families, etc. Right now, even before the budget crunch, schools were eliminating art, music, physed, counseling, librarians, and making the kids study only reading and math all day long. And now wonder of wonders after continuing to purse impossible targets for more than 8 years, the populace has the nerve to complain that the kids don't know much history!!!! DUh!!!

And the NCLB law is not even testable in court since its written into the law that any school that contests any part of it in court will lose all federal funding until the court case is resolved. So forget about anyone contesting the law.

People who complain about the intervention of the government in healthcare don't even have a clue that the level of government intervention in public education is such that school is flooded with unfunded mandates, and that they literally cannot pick their noses without running afoul of one more federal education laws.

Did you know that if a mother breaks up with her boyfriend, and has to move her and the kids in with relatives in a neighboring district, that this makes the children homeless? This means that both districts must transport the children every day back to their old school. W have kids that moved in with relatives from a neighboring district that we have to run a van just for them, 35 miles a day to the border of the neigboring district to transport that kid for as long as they are "homeless". With a 12 person van that on back roads get about 12 miles per gallon gas, it costs 3 gallons a day just to transport this one child: or about 10 bucks. 181 x 10 = $1,810 to transport this "homeless" child every day back to his old school. And that doesn't include the maintenance on the van or paying the bus driver, easily an additional $9000. TAXES for me in my house for the school part are $1200 a year. My taxes don't even pay 1/4 of the cost of just transporting this "homeless" child, and don't cover any ting in real education. In a large district where there are lots of roads, the district might have to spend more than 14% of its total budget just in gettting the kids to and from school. In my school the special education budget is 1/5 of the total educational outlay, but that's actually deceptive, because the the people in pupil personnel sepnd about 50% of their time servicing the special education services, and more than 50% of the kids they actually see are special education students.

In my school's budget our total revenues are such that the local can only come up with 54% of what is needed, 36% is from the state, 7% from the feds.

Yeah!!

Last edited by Zarathu; 06-29-2011 at 09:56 AM..
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Old 06-29-2011, 10:22 AM
 
Location: Pennsylvania
15,569 posts, read 9,595,827 times
Reputation: 26029
Quote:
Originally Posted by Zarathu View Post
According to Money Magazine, the retirement income of people varies widely with the amount of education that they managed to get when they were working.

Those who got a high school diploma and stuck with that through out their working career, who are retired and are 65 or older, have a retirement income of about $29K. Those who got a BA/BS degree have retirement incomes in the neighborhood of $45K. Those who got graduate degrees(MA, MS, MEd, EdD, PHD, ETC) have retirement incomes above $60K per year.

Of course those who didn't save anything and just lived high or low on the hog did not have anything other than small Social Security income. You pretty much had to put out 10-11% of your income after taxes into some kind of retirement plan at each of these income levels to get these returns into retirement.

It goes without saying, that those people who did not choose by hook or crook to work their tails off getting into college and getting a degree, paying off college loans, and working on graduate degrees while working full time in early adulthood, probably with little kids in the house too, and then paying off those loans, while also saving 10 of income per year for retirement, won't have as big a retirement income. They shouldn't be out there begrudging those who chose to take that difficult route, but now have a much higher retirement income. Of course they will, anyhow.
I don't think most people do but it sounds like you think people who didn't go to college took the easy route. Not always so.

And I'm getting totally sick of hearing about not having enough for retirement because I didn't save. I did. For over 30 yrs. By next year, I may have almost half of it back. Not blaming anyone nor do I have the illusion I'm alone in this situation. But I DID SAVE!!!!!!!!!!!!!!!!
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Old 06-29-2011, 12:22 PM
 
Location: Forests of Maine
29,730 posts, read 47,507,271 times
Reputation: 17577
Quote:
Originally Posted by Zarathu View Post
And most of th reason for this is the unfunded mandates by your federal and state governments. Right now, the cost of special education is going up at the rate of 10% per year. There is no way out of this except by not taking any federal funds that come directly from the Feds or the Feds through the state: Impossible!

A second unfunded mandate is No Child Left Behind which requires that every child be proficient in Math and Reading by 2014. This is impossible. The law makes no adjustment for those kids who have low ability, or for whom their lives are so screwed up that they don't attend school or are overwhelmed by dysfunctional families, etc. Right now, even before the budget crunch, schools were eliminating art, music, physed, counseling, librarians, and making the kids study only reading and math all day long. And now wonder of wonders after continuing to purse impossible targets for more than 8 years, the populace has the nerve to complain that the kids don't know much history!!!! DUh!!!

And the NCLB law is not even testable in court since its written into the law that any school that contests any part of it in court will lose all federal funding until the court case is resolved. So forget about anyone contesting the law.

People who complain about the intervention of the government in healthcare don't even have a clue that the level of government intervention in public education is such that school is flooded with unfunded mandates, and that they literally cannot pick their noses without running afoul of one more federal education laws.
While I agree with what you are saying, I am surprised that you of all people would say 'literally' in a phrase where you clearly mean the opposite.



Quote:
... Did you know that if a mother breaks up with her boyfriend, and has to move her and the kids in with relatives in a neighboring district, that this makes the children homeless? This means that both districts must transport the children every day back to their old school. W have kids that moved in with relatives from a neighboring district that we have to run a van just for them, 35 miles a day to the border of the neigboring district to transport that kid for as long as they are "homeless". With a 12 person van that on back roads get about 12 miles per gallon gas, it costs 3 gallons a day just to transport this one child: or about 10 bucks. 181 x 10 = $1,810 to transport this "homeless" child every day back to his old school. And that doesn't include the maintenance on the van or paying the bus driver, easily an additional $9000. TAXES for me in my house for the school part are $1200 a year. My taxes don't even pay 1/4 of the cost of just transporting this "homeless" child, and don't cover any ting in real education. In a large district where there are lots of roads, the district might have to spend more than 14% of its total budget just in gettting the kids to and from school. In my school the special education budget is 1/5 of the total educational outlay, but that's actually deceptive, because the the people in pupil personnel sepnd about 50% of their time servicing the special education services, and more than 50% of the kids they actually see are special education students.

In my school's budget our total revenues are such that the local can only come up with 54% of what is needed, 36% is from the state, 7% from the feds.

Yeah!!
The busing of individual children must be an issue localized with your state.
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Old 06-29-2011, 01:40 PM
 
828 posts, read 1,403,566 times
Reputation: 1025
Quote:
Originally Posted by Nor'Eastah View Post
Hey -- Maine has no poisonous snakes!
Oh yes they do Timber rattlers are in Southern Maine Rattlesnakes AND back in the 80's at a woods fire I got bit by one [I think he was a bit agitated] I ended up a week in the hospital with a very sore leg.
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Old 06-29-2011, 02:26 PM
 
Location: Eastport, Maine
1,158 posts, read 2,123,114 times
Reputation: 1116
Money magazine is obviously for the people with money, as the figures quoted from it must have come from on high. I will agree that the more education one attained, the greater the retirement, but that is not true in every case.

For those who worked in the much despised (as of late) public sector those figures do not apply at all. I am tired of all the public workers getting dumped on. I spent 38 years in the employ of government, and let me tell you what I don't get: 1) free health insurance, I get a measley $5 per year of service up to 30 years, math wizards do the math, that's $150 a month.

2) I got 1.6% per year of service for a maximum of 33 years based on my highest 5 years of salary - that's not even near 45K a year. By the way, my last 5 years of service did nothing to enhance my retirement.

3) the only reason I get as much retirement as I do is because I worked as additionally as needed for the government at a reduced salary for over 20 years. Yes, I double dipped, because I worked 2 separate jobs. By the way, there was no overtime, it was acutally about 2/3 or less of my regular salary.

I paid approximately 50% of my health insurance out of my own pocket, and to get decent health insurance, I paid 100% of the cost of "Premium" health care. Right now a catastrophic policy costs me $700+ a month minus the $150. By the way, that $150 isn't guaranteed, as the state legislature can take it away at will.

Even if I was able to add the $1300 a month SS benefits I am eligible for, I don't approach 45K. By the way, since I have another retirement, SS benefits will be reduced for me, even though I paid in at the same rate as everyone else.

I don't know where people are getting all this misinformation about public employees, but speaking personally, its a bunch of poop. Those figures must be based on the administrative types that serve the governor, you know the ones with 6 figure salaries?? By the way, LePages' daughter at 41K a year as an adviser is a real steal, most advisers make much more than that.

Now, back to Maine. Taxes in Maine are the way they are because we are such a rural state, outside of that famous imaginary Volvo line. As long as Maine's rural residents want the same services as the densely populated part of the state, taxes will be high, period. Do the math...its simple division, the more people you have, the less each one pays, the fewer the number of people, the greater each person's share becomes.

End of Rant

Last edited by maine4.us; 06-29-2011 at 02:43 PM..
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Old 06-29-2011, 04:47 PM
 
1,360 posts, read 1,857,004 times
Reputation: 1244
Quote:
Originally Posted by Zarathu View Post
According to Money Magazine, the retirement income of people varies widely with the amount of education that they managed to get when they were working.

Those who got a high school diploma and stuck with that through out their working career, who are retired and are 65 or older, have a retirement income of about $29K. Those who got a BA/BS degree have retirement incomes in the neighborhood of $45K. Those who got graduate degrees(MA, MS, MEd, EdD, PHD, ETC) have retirement incomes above $60K per year.

Of course those who didn't save anything and just lived high or low on the hog did not have anything other than small Social Security income. You pretty much had to put out 10-11% of your income after taxes into some kind of retirement plan at each of these income levels to get these returns into retirement.

It goes without saying, that those people who did not choose by hook or crook to work their tails off getting into college and getting a degree, paying off college loans, and working on graduate degrees while working full time in early adulthood, probably with little kids in the house too, and then paying off those loans, while also saving 10 of income per year for retirement, won't have as big a retirement income. They shouldn't be out there begrudging those who chose to take that difficult route, but now have a much higher retirement income. Of course they will, anyhow.
I don't know where Money Magazine came up with their info, but it is flawed. Do these numbers apply only to Pennsylvania? If you have a high school education and retire at age 65--and how ever many months--with social security of $800-$1200 a month, that is far from $29K per year. How many with only a high school education can save significant amounts for retirement? I know at least two people with high school educations who became entrepreneurs and are retired as millionaires. They were able to save for retirement.

I know people with masters' degrees who are making $60K while employed and it will be much less once retired (pension about $2700 a month plus social security of $1200-1500 a month) that's about $40K a year give or take, but not even close to $60K. I know teachers with BA/BS degrees who have been teaching for 15 years currently making $35,000 a year and if Money Magazine is correct, they will be looking forward to getting $45K once retired.

I think forest beekeeper is right in when he said, "The busing of individual children must be an issue localized with your state." Every state has its own peculiaritiesconcerning public education and how they deal with topics that are not mandated by the federal government.

Last edited by mainegrl2011; 06-29-2011 at 04:57 PM..
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Old 06-29-2011, 05:38 PM
 
Location: Eastport, Maine
1,158 posts, read 2,123,114 times
Reputation: 1116
Mainegirl, you are right on the money!.....The only people in government would would even come near 60K retirement are those making 120K+ salary. Not the average Joe.
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