I know we'll be poor in retirement - it's inevitable (beach, gifts)
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.
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.
Mendocino is certainly an odd choice when one has a budget, not to mention odd choice of state when it comes to income tax.
__________________ ____________________________________________
My posts as a Mod will always be in red.
Be sure to review Terms of Service: TOS
And check this out: FAQ
Moderator: Relationships Forum / Hawaii Forum / Dogs / Pets / Current Events
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.
I can vouch for this. My dh is a DBA and is in the same position. And in Boston, well, can you imagine the talent pool?
Mendocino is certainly an odd choice when one has a budget, not to mention odd choice of state when it comes to income tax.
Actually, in CA you are hit with horrible state tax rates only if you make enough money. California taxes the first $42,711 of income for singles (and a higher limit for married) at lower rates than Mississippi. But if you make $42,712 in CA, that last dollar is taxed at 8%, and from there the tax rate progressively climbs to 13.3% if you make over $1M (again, these are singles rates). People who earn below $42k actually tend to pay lower taxes in CA than in any other state (except of course in the states that do not have a state income tax). Also, there is a very wide coverage by various social services in CA. I don't know anything about Mendocino, though, except that it supposedly resembles coastal New England, which is maybe why the OP is considering it.
Actually, in CA you are hit with horrible state tax rates only if you make enough money. California taxes the first $42,711 of income for singles (and a higher limit for married) at lower rates than Mississippi. But if you make $42,712 in CA, that last dollar is taxed at 8%, and from there the tax rate progressively climbs to 13.3% if you make over $1M (again, these are singles rates). People who earn below $42k actually tend to pay lower taxes in CA than in any other state (except of course in the states that do not have a state income tax). Also, there is a very wide coverage by various social services in CA. I don't know anything about Mendocino, though, except that it supposedly resembles coastal New England, which is maybe why the OP is considering it.
Interesting, thanks for the info.
I looked up Mendocino quickly, media price homes are around 740K.
For retirement, we choose a state with no income tax (NV).
__________________ ____________________________________________
My posts as a Mod will always be in red.
Be sure to review Terms of Service: TOS
And check this out: FAQ
Moderator: Relationships Forum / Hawaii Forum / Dogs / Pets / Current Events
I looked up Mendocino quickly, media price homes are around 740K.
For retirement, we choose a state with no income tax (NV).
Mendocino is a big county with some pricey areas. My brother lives in Willits (Mendocino county) where the median home price is less than half that. Nice little town, too.
In retirement, you think living on $5000 per month which is $60,000 per year is POOR??
Or, in retirement, even much less is poor?
Really depends where you live I would think. Many parts of the nations to be in the middle class means having an income of $200,000 a year.
Of course many parts of the nation are much less costly. For me I would say having an income of $60,000 a year is poor. In retirement I would want to maintain the same kind of lifestyle that we now enjoy.
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.
Maybe it’s not good where you are despite its being a liberal state. My sister dropped her salary from her peak from $110k to $85k with health care.
She went from director level to just plain senior accountant.
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.
Market prices in Boston have not doubled in the past 6 years, and the large property tax reduction for primary homes has been in place for much longer than 6 years (ie, it is not a local reaction to recent market prices, or possibly not to any market prices). When I bought my Boston condo 19 years ago, in 2000 (for a fairly low market price of $147k), the large property tax reduction for owner-occupied property was already in effect.
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.
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.
