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Old 07-01-2019, 10:13 AM
 
Location: Central NY
4,653 posts, read 3,235,973 times
Reputation: 11907

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Wow. $3300 a month?? If only.

I'm sure I could live very well on that.
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Old 07-01-2019, 10:29 AM
 
11,118 posts, read 8,523,617 times
Reputation: 28064
Quote:
Originally Posted by Arktikos View Post
AFTER housing costs? Hell yes. What's the problem man, that's fat city!
Quote:
Originally Posted by marino760 View Post
I can't even imagine someone struggling trying to live on $3300 a month after housing costs. There must be a lot of money going out on new clothes, expensive cars, eating at expensive restaurants on a regular basis and expensive vacations.
This is all fine if you have the extra money to do it but it's not like you're going to starve or live in rags on $3300 per month after housing costs. That's hardly poor or someone that needs any kind of subsidies.
Quote:
Originally Posted by NYgal1542 View Post
Wow. $3300 a month?? If only.

I'm sure I could live very well on that.
This is the topic of this thread. While it may be less money than they are accustomed, $3k a month plus potential spousal benefits does not count as poor in America.
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Old 07-01-2019, 10:31 AM
 
11,969 posts, read 5,102,113 times
Reputation: 18703
Quote:
Originally Posted by charlygal View Post
This is the topic of this thread. While it may be less money than they are accustomed, $3k a month plus potential spousal benefits does not count as poor in America.
Nor anywhere else that I know of when you take housing costs out of the picture.
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Old 07-01-2019, 11:01 AM
 
Location: SWFL
22,850 posts, read 19,286,589 times
Reputation: 21211
Quote:
Originally Posted by MadManofBethesda View Post
Interesting. I didn't know that was an option we had.

On a related matter, I've been to the Walking Dead show at Universal Studios in Orlando, but I never took it literally.
Lmao, wise a$$. I see what I did though.
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Old 07-01-2019, 11:10 AM
 
13,872 posts, read 7,381,208 times
Reputation: 25351
Quote:
Originally Posted by NewbieHere View Post
And you canít assume they donít get hired because of their age either. Itís in Boston, lots of jobs I assume. Everybody in my family was able to find jobs, multiple jobs after age 50, 55, 60, 65. How? they are in healthy job market area where unemployment rate is typically 2-3%, Iím not sure where it is now but I canít believe itís far off.

Not really. I'm 61. I'm an architect-level software engineer. I could apply for 1000 jobs and wouldn't get an interview from any of them. Unless it's an exact match for my subject matter expertise and there is nobody else younger available, I'm not going to make it past the HR screening. You Google my name and address, my age pops up. It doesn't matter how I try to disguise my age on my resume or how low I drop my salary expectations, it's a screening item. Could I get a job as a Walmart greeter at $15/hour? Sure. A mid-level engineering slot a 30 year old Indian kid can do? It simply won't happen.
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Old 07-01-2019, 11:48 AM
 
8,820 posts, read 5,119,154 times
Reputation: 10086
Quote:
Originally Posted by NoMoreSnowForMe View Post
I live on $716/month in Silicon Valley, SSA retirement income. I also get food stamps and Section 8.

Look into any subsidies you qualify for. And don't be shy or embarrassed.
Seems like you should qualify for SSI to bump up that $716 some. Have you looked into it?
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Old 07-01-2019, 11:53 AM
 
13,872 posts, read 7,381,208 times
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Quote:
Originally Posted by elnrgby View Post
Just to correct one piece of info in this post: MA (at least Boston, but I assume it holds for the rest of MA too) has a really favorable property tax structure. You get a huge tax abatement for your primary home (whether it is a house or a condo), I think it has to be at least 50%. For a Boston condo assessed at $420,000 in value, you pay something like $1,800 in taxes per year (for comparison, for the same condo in San Francisco you would pay around $5,000 in property tax per year, and the exemption for the primary home is almost nothing, it's something like $100). Unlike in many large cities, it is incomparably better to own rather than rent in Boston. Annual ownership expenses for my Boston condo (ie, maintenance fees, taxes and utilities) are about what I would pay for 2 months of renting it.


One more thought about OP's retirement - would you consider getting a little further out of Boston metro area, and retiring to Worcester? It is almost in Boston metro area, yet substantially less expensive. A monthly income of $5k could go VERY far in Worcester, and you are still less than an hour of central Boston by commuter rail.

That's not the way property taxes work anywhere I've owned in Massachusetts. You pay property tax on 100% of the assessed valuation. Most towns appraise at 85% to 90% of market value. You can drop onto Zillow and see the tax bill of any property in the state. It's all public record.


Boston maybe has their own set of rules since commercial real estate pays most of the bills. The OP lives in the burbs. When I look at Boston properties, I don't see $1,800 property tax bills for a $420K studio apartments. I see more like $3,300. Zillow thinks Boston appraises at 75% of market rate.
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Old 07-01-2019, 12:09 PM
 
1,201 posts, read 1,068,987 times
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The OP is over on the Sacramento forum (California) asking about Mendocino as a retirement destination. I answered as best I could . . . I don't live there but visit as much as possible. If anyone here can help her out, I'm sure she'd appreciate it.
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Old 07-01-2019, 12:12 PM
 
1,687 posts, read 607,568 times
Reputation: 1756
Quote:
Originally Posted by GeoffD View Post
That's not the way property taxes work anywhere I've owned in Massachusetts. You pay property tax on 100% of the assessed valuation. Most towns appraise at 85% to 90% of market value. You can drop onto Zillow and see the tax bill of any property in the state. It's all public record.


Boston maybe has their own set of rules since commercial real estate pays most of the bills. The OP lives in the burbs. When I look at Boston properties, I don't see $1,800 property tax bills for a $420K studio apartments. I see more like $3,300. Zillow thinks Boston appraises at 75% of market rate.



Well, when I look at my own condo value assessment and my own property bill, it is exactly what I mentioned in the previous post - the City of Boston assessed it for $420k (which I think is actually a little more than its real value, it is a very tiny condo although in an overall expensive part of the city), and my four annual property tax installments totalled around $1,800. What you see on Zillow could be a property tax bill without reduction for the owner-occupied primary home. That reduction is huge.
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Old 07-01-2019, 12:13 PM
 
13,872 posts, read 7,381,208 times
Reputation: 25351
Quote:
Originally Posted by elnrgby View Post
Well, when I look at my own condo value assessment and my own property bill, it is exactly what I mentioned in the previous post - the City of Boston assessed it for $420k (which I think is actually a little more than its real value, it is a very tiny condo although in an overall expensive part of the city), and my four annual property tax installments totalled around $1,800. What you see on Zillow could be a property tax bill without reduction for the owner-occupied primary home. That reduction is huge.

That's not how the rest of Massachusetts works.


Edited:
The exemption towns are Boston, Cambridge, Brookline, Somerville, Watertown, Waltham. It's a $2,000 to $3,000 property tax break for owner occupied properties. The rest of the state doesn't work that way. It's a local reaction to market prices doubling in the last half-dozen years and people getting taxed out of their homes.

Last edited by GeoffD; 07-01-2019 at 12:25 PM..
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