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We can afford the taxes, but why? $16,000 for property taxes, $10,000 for Federal Taxes (on IRA), $6,000 plus for NY State Taxes. In total, it is almost my whole social security payment.
What is the point of social security, if the government requires me to give it back?
for the same reason we give it back when we work .
I have to agree with you. Whether or not you can afford the taxes is still beside the point for some. Many people choose not to put their money into a tax sink hole when there are other options regardless of their income.
There are easy accessible amenities in locations with high property taxes that are not available or easily accessible in areas where the taxes are low. Case in point, last Monday while at work I began to loose peripheral vision in my left eye. Fortunately for me I work at a health care facility where I had immediate access to be evaluated by the eye physicians located on the same campus. These doctors determined I needed to see a neuro ophthalmology specialist asap and the closest one was at Mass Eye & Ear Infirmary located in Boston which was an hour drive from my place of employment. Fortunately again for me I did not have the more serious condition that the eye physicians from work thought I had, but still serious enough that I may not regain some of my lost vision. Had I had the more serious condition, without the specialized treatment only available at Mass Eye & Ear I may have loss all my vision in my left eye.
Unlike some who were blessed with great health I was not, and in addition to this freaky sudden onset optic neuritis that resulted in my partial vision loss I am also a 15 year cancer survivor. So for me having easy access to exceptional health care along with having good insurance coverage to pay for it is a top priority which means I remain where I am and in doing so have to pay the price in not only relatively high property taxes but also in state income tax. And additionally maintaining my Federal BC/BS in retirement to supplement Medicare Part B when I am eligible for it is not cheap coverage and will add probably by then add another $300/month on top of my Medicare Part B premium. Would be nice if my situation was different but it is not so I had to plan accordingly.
Last edited by Nightengale212; 06-24-2018 at 06:36 AM..
I would think the sad passings of Kate Spade and Anthony Bourdain would testify to the fact that the simple amassing of a certain amout of wealth does not always guarantee the achievement of the sweet spot in one’s life. It’s not that simple.
Quote:
Originally Posted by ReachTheBeach
That's an entirely different subject; mental health issues are not mitigated by success. The darkness doesn't care who you are.
Wayne Dyer observed that happiness in the latter stage of life requires a change of attitude and perspective -- he called it "the shift" -- from a life focused on ambitions to one centered on understanding and meaning. The greatest joy for me was coming to terms with and understanding my place in the world and universe.
Wayne Dyer observed that happiness in the latter stage of life requires a change of attitude and perspective -- he called it "the shift" -- from a life focused on ambitions to one centered on understanding and meaning. The greatest joy for me was coming to terms with and understanding my place in the world and universe.
You're replying to comments about a couple of severely depressed people. You don't fix that with attitude and perspective. When you plunge into the abyss out of the blue just because your brain chemicals decided that's what we're going to do today, some of the most annoying people on the planet are those who think you just need to cheer up.
Found an opinion article that might interest the group. It talks about the relationship between location and the incomes that result in some sense of financial security. Link below:
We can afford the taxes, but why? $16,000 for property taxes, $10,000 for Federal Taxes (on IRA), $6,000 plus for NY State Taxes. In total, it is almost my whole social security payment.
What is the point of social security, if the government requires me to give it back?
I don't think your SS check will change if you move. In NC, I am paying $1,050 a year on my $100k house on a full acre. No, I didn't miss a digit.
You're replying to comments about a couple of severely depressed people. You don't fix that with attitude and perspective. When you plunge into the abyss out of the blue just because your brain chemicals decided that's what we're going to do today, some of the most annoying people on the planet are those who think you just need to cheer up.
Just a reminder...there are two types of depression. Situational and chemical. All depression is not due to brain chemistry. For some people, their depression is rooted in their current situation and changing attitudes and mindsets will alleviate their issues.
After stepping back from this thread for a bit, I realized I needed to put my comments in a context for many readers either not having read, not reading or not really caring about our situation.
We are probably a good case study on the impact of increased income in retirement and how it impacts your life and mind set.
At age 59 we retired with two pensions. From there until age 62 our income was the pensions, investments and the COLA on our pensions.
At age 62 my wife took her SS so that was added to the mix. From age 62-66 our income was two pensions, investments, one SS and COLA on pensions and SS.
At age 66 I took spousal on my wife's SS and added that to the mix.
At age 69 I switched to my SS added that to the mix subtracting the spousal I had been getting
.
For a decade we had steady income increases and within another year or less of COLA on our two pensions and SS we will have doubled our income since we began. This isn't counting investments at all in the mix. Just fixed income.
We have a good feel of the impact of the increased money on us and it is real and concrete. Within a year we will be at 80% of our working income via fixed income and not counting any RMD/investment money.
I really believe the relationship between retirement income and working income can really play a roll in how we emotionally feel about our retirement lives. Perhaps it isn't a dollar amount as much as it is a percentage of working income that translates into our sense of retirement nirvana.
Agreed. I don't live in NYC nor DC nor LA now, nor did I before. But my property taxes have exceeded five figures for the past 20 years. Current Florida (small -- 2000 square feet) residence about 15,000 per year. Previous (larger) Hartford-area residence about 20,000.
This is the new normal, folks. My Dad lives in a 2500 square foot house IN KANSAS and his property taxes are approaching 10,000 per year. My best friend's folks IN NEBRASKA also 2500 square feet -- 12,000 per year.
The thousand-dollar-per-month tax bill is part of the big-government paradigm. It's coming to the rest of the country soon, sad to say.
The property taxes for our 2500 sq ft house is $4,800.00 a year or $400.00 a month. We live in California and are protected by Proposition 13. Before Prop 13, the elderly would lose their homes or have to sell them because they couldn't afford to pay the property taxes.
Happens a lot in West Chester and Long Island(both nyc burbs) too. Many retirees flee to a lower col upon retirement. It just don’t make any sense to pay $12-20k+ in taxes with no kids in the school system and on a fixed income.
M
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Originally Posted by suziq38
The property taxes for our 2500 sq ft house is $4,800.00 a year or $400.00 a month. We live in California and are protected by Proposition 13. Before Prop 13, the elderly would lose their homes or have to sell them because they couldn't afford to pay the property taxes.
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