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How can it be worth 600K and be rendered worthless?
If you ask the real estate agents, the agents will say it's worth 600k. But then the buyer will talk to the township, and then will back out. That's why I put the word worth in quotes.
We've had several buyers, and each one has walked when they go to the township. The other properties have sued the township and lost. Eventually what will happen is the township will take the properties to widen the road.
Until then, they will happily collect the taxes....until they eminent domain it for pennies on the dollar. In the next 30 years....
By the way, we are using the tactic of lowering the price...that isn't working either. Essentially the buyer has to buy all eight parcels, build a frontage road, have no access to the main road, but feed all traffic onto a side residential road, and build a small medical arts building with very small retail. The area just built a hospital campus, no where near these parcels. The housing development behind this line of parcels is fighting development.
And the road has been going to be widened in planning stages for...well since 1965. And nothing's happened yet.
The next time I go home we're burying a St Joseph...
Last edited by Tallysmom; 11-07-2016 at 12:20 PM..
What???? You didn't hear the moaning and groaning when the cap was recently raised to $127,200 (2017)? Me neither. Wait until the first 2017 paycheck is issued. Then it will make the news.
Holy crap!! A 7.3% jump, the largest dollar increase ever in one year! (1980 to 1981 was a whopping 14.7% increase). I will donate another extra $540 per year at least to the SSA for a total of $7886, for NO additional benefit, or maybe $5 a month more, because I already have 35 years of maximum contribution. Just funds everyone else that collects and didn't contribute...
Is that enough moaning and groaning? Makes me want to retire that much sooner. Especially since according to articles like this:
Holy crap!! A 7.3% jump, the largest dollar increase ever in one year! (1980 to 1981 was a whopping 14.7% increase). I will donate another extra $540 per year at least to the SSA for a total of $7886, for NO additional benefit, or maybe $5 a month more, because I already have 35 years of maximum contribution. Just funds everyone else that collects and didn't contribute...
Is that enough moaning and groaning? Makes me want to retire that much sooner. Especially since according to articles like this:
2017 will be my last year contributing so in a sense I don't care if they raise it as long as they don't start means testing. But I feel for the more ambitious Gen X and millennials who have to fund all of this especially as there are so few of them and they should be rewarded rather than penalized for their efforts. And nobody wants to increase the SS retirement age, revisit spousal benefits, etc. but many want to expand SS even more to all those stay at home caretakers, etc. We have a thread today where one millennial is perfectly happy to live in a small apartment all their life, work part time in retail, and be subsidized by the government (e.g., part time retail jobs do not provide health benefits or pay the rent) and questions why the boomers are so capitalistic. I'm disgusted with the whole mess.
I'm not sure that will fly. What about what they paid in over the years?
As you know, social security is a "pay as you go" system whereby the money they paid in years past long ago went out the door to retirees. That money is gone.
There are many ways to means-test social security. Here are a few easy ways:
If you earn more than $X from other sources (interest, dividends, 401K withdrawals, IRA withdrawals, rental income, pension benefits, etc etc) then for every extra dollar you make, your social security benefit will be reduced by 50 cents.
If you earn more than $X from other sources (interest, dividends, 401K withdrawals, IRA withdrawals, rental income, pension benefits, etc etc) then you don't get Social Security anymore. You are cut off cold-turkey.
If your AGI is more than $X from other sources (interest, dividends, 401K withdrawals, IRA withdrawals, rental income, pension benefits, etc) then Social Security income is taxed at a high rate such that it all goes back to the IRS
Well, it's like this, you do the best you can at saving, then you get your ss, then you scrape everything into a pile and live on it. We live very comfortably on mostly social security, a part time job, and enough interest for a car payment. We don't really want for anything.
We would like to be able to take nice trips, but we can't, but otherwise, the only thing that is threatening our wellbeing is the cost of insurance...life, medical, house and car. We have no control over these.
Not really my friend. No one will notice anything different in their check until the point in the year when their income exceeds the threshold. Only difference will be their net stays at the same level and doesn't get increased . I have always said raising the cap is relatively painless. The increase net when it came was nice but I wasn't counting down the days. It may make the news more but not sure the reaction
I have to correct the above. I forgot that after January one they start taking SS out again and your salary goes back down to the amount prior to reaching the threshold the year before. It really wasn't a big deal because I knew it was coming and it was a regular annual drill. Plus Christmas spending was over.
People always tell me (here at least) that you shouldn't count on your inheritance because health expenses may take it all. I think the average American something like 200k - 300k saved for retirement. My parents have multiple millions, and I am told that all of this can go towards healthcare. How does the average American afford to retire if multiple millions could potentially be needed for retirement?
Because old age healthcare is the great equalizer. If price for a treatment is $1M each when in reality it costs much less, it is because there's only a few that can afford it to cover the remainder that don't have any savings to go after.
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