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Old 02-10-2017, 03:01 PM
 
1,577 posts, read 2,202,242 times
Reputation: 2762

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Quote:
Originally Posted by SportyandMisty View Post
Did you see the movie Cedar Rapids (2011) ? Hilarious. Cedar Rapids looks like a great town.

Actually the movie wasn't filmed in Cedar Rapids but in Ann Arbor It had something to do with tax credits, which wasn't an issue in the state of Michigan. I've never been to Ann Arbor but hear it's lovely. I do think our downtown is really nice though.
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Old 02-10-2017, 03:10 PM
 
Location: Northern panhandle WV
3,007 posts, read 2,171,440 times
Reputation: 6691
Moved to WV to retire.
House mortgage 154. a month
taxes $845 A YEAR.
small city/large town
close to everything.
Utilities somewhat high as it is a 3 story old brick house.
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Old 02-10-2017, 05:12 PM
 
Location: Forests of Maine
30,682 posts, read 49,449,101 times
Reputation: 19134
We own [no mortgage] 150 acres of forest land with 1/4 mile of river frontage and a new 2400 sq ft house.

Our taxes are about $800/year.

We are fairly rural [20 miles from a city].
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Old 02-10-2017, 11:55 PM
 
Location: Sacramento
13,784 posts, read 23,809,056 times
Reputation: 6195
Quote:
Originally Posted by sfcambridge View Post
Do you own, or do you rent?

House or condo/apartment or independent living/assisted living establishment?

What are your monthly housing costs (eg. taxes/mortgage if any/condo fees if any ..... or rent)?

Where do you live (HCOL, LCOL, Urban/suburban/rural)?
We own the house

It is a single family house

Monthly cost including all taxes, fees and utilities would be about $2,300

Pretty high cost of living area, metro Sacramento CA, and a suburban location
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Old 02-11-2017, 07:58 AM
 
1,106 posts, read 593,416 times
Reputation: 3925
Oh wow. People are still making or planning to make mortgage payments in retirement? Sounds awful considering that most retirees are now complaining about "fixed income" which really means that they consider their current income to be "too low".

And rent just sounds even worse. With owning at least you're just paying the property taxes. With renting....you're still paying the property taxes built into the price.

I'm not looking forward to the next 30 years which will be my prime earning years (I'm now 30) as the generation before me is going to demand more and more entitlements....out of my pocket.

I'm a diligent saver. It's not my fault that people chose not to save despite living through some of the best economic times in the history of the planet in the most economically productive country the world has (had?) ever known.
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Old 02-11-2017, 08:37 AM
 
Location: Idaho
4,625 posts, read 4,466,840 times
Reputation: 9050
Quote:
Originally Posted by InchingWest View Post
Oh wow. People are still making or planning to make mortgage payments in retirement?...
My financial advisor strongly recommends that I not pay off my mortgage and continue it in retirement. Reason being that the mortgage interest rate is less than my retirement financial accounts earn and that paying interest on a mortgage helps provide an income tax advantage.


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Old 02-11-2017, 09:24 AM
 
Location: RVA
2,165 posts, read 1,265,978 times
Reputation: 4456
@Inchingwest: If you have nothing to contribute and just want to complain or show how little you know, start a new thread.
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Old 02-11-2017, 09:33 AM
 
4,481 posts, read 4,743,078 times
Reputation: 9940
Quote:
Originally Posted by Perryinva View Post
@Inchingwest: If you have nothing to contribute and just want to complain or show how little you know, start a new thread.


I don't know. Seems everything he/she said has been said before on here. What's the big to-do?
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Old 02-11-2017, 10:11 AM
 
Location: Loudon, TN
5,783 posts, read 4,836,241 times
Reputation: 19438
We own a home w/mortgage in a resort/retirement community. I consider it suburban, but in a rural area. Ten miles to small city, 25 miles to downtown Knoxville. Mortgage =$1500/month, taxes $1400/year, POA dues $115/month

Monthly expenses
electric =$70
propane=$50
cable/landline/internet=$190
cells=$57
water=$40
garbage=$15

We have a mortgage because interest rates are dirt cheap and I don't want to tie up all my assets in my house. I leave them in investments where they earn a higher % than I pay in mortgage interest. It's not a hardship in our retirement to pay a mortgage. I prefer the liquidity and earning power of my assets invested in equities. We also own a rental property outright and it provides additional income beyond our pensions and investments.
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Old 02-11-2017, 10:30 AM
 
Location: Loudon, TN
5,783 posts, read 4,836,241 times
Reputation: 19438
Quote:
Originally Posted by InchingWest View Post
Oh wow. People are still making or planning to make mortgage payments in retirement? Sounds awful considering that most retirees are now complaining about "fixed income" which really means that they consider their current income to be "too low".

And rent just sounds even worse. With owning at least you're just paying the property taxes. With renting....you're still paying the property taxes built into the price.

I'm not looking forward to the next 30 years which will be my prime earning years (I'm now 30) as the generation before me is going to demand more and more entitlements....out of my pocket.

I'm a diligent saver. It's not my fault that people chose not to save despite living through some of the best economic times in the history of the planet in the most economically productive country the world has (had?) ever known.
No, out of OUR pockets. The generation before you worked for their entire lives to put that money into SS and it is our right to receive it back, with the earnings it accrues over the 30-50 years it has been in the custody of the US Gov't.

The generations before also have paid for pretty much all public property (highways, dams, bridges, state and national parks, government bldgs, the military and all it's planes, ships, tanks, etc) that exists through OUR tax dollars and you are the beneficiary of all that. Our tax dollars pay for the BEOG's and Pell grants, and scholarships and all the other financial aid that helped pay for your generation's college education. We all pay our share for the greater good. Just like I had to pay property taxes that mostly go to pay for schools, despite the fact I have no children. People with kids get tax deductions and credits and "head of household" status and other benefits. You will have to pay taxes to pay for other people's needs. This is how social programs work.

You shouldn't really be talking down to folks with a heck of a lot more life experience than you. You have no idea if the folks who "complain about their fixed income" lost all their savings in the stock market crashes, or if they were victims who lost their home in the housing bubble/crash. You don't know if they are disabled veterans living on disability, or if they have had health problems, like cancer or a car wreck, and their insurance (or lack their of) didn't pay for the hundreds of thousands of dollars for hospital/surgical expenses, or if they had to spend all their savings to pay their rent while they were out of work for a year or more due to being laid off. You really don't know whether those people you malign as "choosing" not to save saved or not, do you?
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