U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
View Poll Results: How Do You Rank Your Wealth & Liviing Situation
Poor-Can't pay monthly bills, lacking in resources, poor living environment 3 2.56%
Doing OK-Can pay bills, have adequate resources, living situation adequate 51 43.59%
Thriving-Enjoying life, can pay bills, have money left over, above average living environment 59 50.43%
Outstanding-Amazing wealth & resources & environment, oodles of money - rolling in it! 4 3.42%
Voters: 117. You may not vote on this poll

Reply Start New Thread
 
Old 08-08-2011, 06:47 PM
 
Location: Out West
22,833 posts, read 16,895,263 times
Reputation: 26362

Advertisements

Edit: oops, nevermind, I'm not retired. Just saw the poll.
Reply With Quote Quick reply to this message

 
Old 08-08-2011, 07:47 PM
 
5,621 posts, read 8,571,827 times
Reputation: 7710
Quote:
Originally Posted by newenglandgirl
I'm asking if you know what other states just about eliminate property tax at the age of 65.
I know that Arkansas Friezes the Property taxes of the primary residence upon retirement or becoming disabled.

Not cutting it, but taxes are low, and atleast if you know what your taxes will be every year till you die or sell... you can budget
Reply With Quote Quick reply to this message
 
Old 08-08-2011, 07:55 PM
 
Location: Arizona
419 posts, read 659,248 times
Reputation: 862
Quote:
Originally Posted by newenglandgirl View Post
Similar here! I do not rank high in retirement income but have been very careful, which people in our category tend to be. I am always concerned however with the escalating costs of taxes, food, and utilities. I could easily do without a car given the right location. Those other things could price some of us out of the comfort game, but, being resourceful, I think we'd know how to somehow manage.
Agreed, because escalating costs are always a concern for people on fixed incomes. Especially, in this financial environment. No interest income being earned on savings. Many people are buying treasuries paying a miniscule interest rate. No thanks. In reality, there is no safe place to put your money. Very scary.

I live in a relatively low COL state. There is no state income tax, property taxes are reasonable and utility rates are fairly low. However, there is a 10% sales tax rate. I do quite a bit of grocery shopping in VA where the sales tax is 5%. I am all for supporting TN, but they will not go broke due to my buying groceries in VA. Thank goodness TN is not a tax crazed state always raising taxes so they can pi** more money away.

My property taxes are 600.00 a year because I pay both city & county taxes. My home is all electric and I had 2 electric bills this past winter for 102.00 each. All other months were considerably lower and I have paid 44.00 for the past couple of months even with the a/c running in this hot weather. My water bill is 21.00 a month. I pay no sewer/trash pickup because it is included in my property taxes. So, pretty low monthly expenses. Oh, 100,00 mo. HOA fees.

I do not know if I will remain here to live out the rest of my years. I have 2 close younger friends that would like me to move back to Arizona. They live in Utah and would like to have me closer. Since the bottom fell out of the housing market, I can buy a nice older condo in Sun City for less than 55,000. Sounds good, but the electric bills are atrocious, probably at least 3 times higher than I pay here. Water bills are high and so is auto insurance. Plus HOA fees & 40.00 a month to take advantage of all of the rec. centers & activities (it's mandatory). So, something to think long & hard about.
Reply With Quote Quick reply to this message
 
Old 08-08-2011, 08:34 PM
 
Location: SoCal desert
8,093 posts, read 13,259,649 times
Reputation: 14870
Quote:
Originally Posted by imcurious View Post
Thanks to the Governator, California seniors who used to get to post-pone their taxes (till they died and their house was sold!!!) don't get that relief anymore.
And a month ago, our new governor (and a different political party) vetoed legislation that would have revived the program.

But Californians, no matter their age, can get the homeowner's exemption of $7K taken off their house value. They don't offer it unless you ask for it.
Reply With Quote Quick reply to this message
 
Old 08-08-2011, 08:45 PM
 
Location: Los Angeles area
14,018 posts, read 17,782,140 times
Reputation: 32309
Default Property taxes in California

Well, in fairness to the state of California, the other side of that coin is that despite making massive spending cuts, the state still has massive shortfalls in the budget. Giving people tax breaks is just not possible at the current time. The state and its citizens are between a rock and a hard place.
Reply With Quote Quick reply to this message
 
Old 08-08-2011, 08:47 PM
 
Location: Near a river
16,042 posts, read 19,020,878 times
Reputation: 15649
This thread seems to be meandering. The OP wants to know how well off you all are.
Reply With Quote Quick reply to this message
 
Old 08-09-2011, 03:34 AM
 
12,824 posts, read 14,140,755 times
Reputation: 35086
Had I retired in the U.S., I think from what I can tell of prices, taxes, etc. I would be in category #2. And worried.

As it is, I moved from the U.S., and have enjoyed what has been for me a far better life/lifestyle. And by of some miracle I haver sold two previous residences at a good profit when I changed locations, and I have - quite by accident - benefited hugely by changing my savings from one currency to another.

I have a lovely condo now, no mortgage. Property taxes are criminally low. Income tax is high, but the allowance for medical deductions is very good, as well as those for charity. Gasoline and deisel are very, very expensive as they are in most parts of the world, but all my driving is local; thus, it is not a burden for me. I eat dinner out at midday, every day, but the cost is not expensive because I do not patronize fancy eateries. Clothing is either very expensive, or cheap and ill-made; therefore, I buy everything from Lands End Co. in the U.K., but as I never dress up the cost of clothing is not a burden. I have a sea view and a mountain view, no crime, a fine hospital on the next corner, a major airport forty minutes drive away, a pokey train that travels along the coast and stops at every lovely seaside town; thus, I can take mini-vacations and not drive if I don't want to.

We have four season, I guess. But spring and fall are more on the order of lesser summers, and winter is six of eight weeks of what would be considered pleasant autumn weather in the U.S.

The cost of buying my first residence has long since gone back into savings, which have grown and not diminished since I moved here. I can live easily on SS and pension.

I have zero debts, and live higher on the hog than I ever did in the U.S., and have all of those non-material things that make life rich and worthwhile in my book. So, I am most definitely in category #3.
Reply With Quote Quick reply to this message
 
Old 08-09-2011, 03:42 AM
 
16,437 posts, read 19,173,916 times
Reputation: 9525
For most of us, the position in this poll depends on current employment. For example, I would go from cat 2 to cat 1 very quickly without a job.
Reply With Quote Quick reply to this message
 
Old 08-09-2011, 05:58 AM
 
5,621 posts, read 8,571,827 times
Reputation: 7710
Quote:
Originally Posted by kevxu View Post
Had I retired in the U.S., I think from what I can tell of prices, taxes, etc. I would be in category #2. And worried.

As it is, I moved from the U.S., and have enjoyed what has been for me a far better life/lifestyle. And by of some miracle I haver sold two previous residences at a good profit when I changed locations, and I have - quite by accident - benefited hugely by changing my savings from one currency to another.

I have a lovely condo now, no mortgage. Property taxes are criminally low. Income tax is high, but the allowance for medical deductions is very good, as well as those for charity. Gasoline and deisel are very, very expensive as they are in most parts of the world, but all my driving is local; thus, it is not a burden for me. I eat dinner out at midday, every day, but the cost is not expensive because I do not patronize fancy eateries. Clothing is either very expensive, or cheap and ill-made; therefore, I buy everything from Lands End Co. in the U.K., but as I never dress up the cost of clothing is not a burden. I have a sea view and a mountain view, no crime, a fine hospital on the next corner, a major airport forty minutes drive away, a pokey train that travels along the coast and stops at every lovely seaside town; thus, I can take mini-vacations and not drive if I don't want to.

We have four season, I guess. But spring and fall are more on the order of lesser summers, and winter is six of eight weeks of what would be considered pleasant autumn weather in the U.S.

The cost of buying my first residence has long since gone back into savings, which have grown and not diminished since I moved here. I can live easily on SS and pension.

I have zero debts, and live higher on the hog than I ever did in the U.S., and have all of those non-material things that make life rich and worthwhile in my book. So, I am most definitely in category #3.
Not gonna say where?
Reply With Quote Quick reply to this message
 
Old 08-09-2011, 06:11 AM
 
16,437 posts, read 19,173,916 times
Reputation: 9525
Quote:
Originally Posted by Bideshi View Post
For most of us, the position in this poll depends on current employment. For example, I would go from cat 2 to cat 1 very quickly without a job.
Ooops. Forgive me. I didn't notice this was a poll in the retirement forum. Just change my vote to cat 1 because that's where I'll probably be.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top