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Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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I had to chuckle when I saw a show advertised on Bravo TV called "Million Dollar Listing Los Angeles" until I saw that it was repeats from about 2007. One million is now the median home price there. After taxes on a million you are lucky to have $700,000 left.
Pay off the current home. (purchased well before the latest run up in home prices)
Buy a new (modest) car.
Spread the remainder into the kids 529 accounts.
Pay off the current home. (purchased well before the latest run up in home prices)
Buy a new (modest) car.
Spread the remainder into the kids 529 accounts.
Gone...just like that.
Gone just like? Gone as in a paid off house, a paid off new car and funding 529s? Is it gone?
Fund your housing for the next few decades, your Children’s future, and buy one of the biggest ticket item’s people buy and it really just adds up on you!
I had to chuckle when I saw a show advertised on Bravo TV called "Million Dollar Listing Los Angeles" until I saw that it was repeats from about 2007. One million is now the median home price there. After taxes on a million you are lucky to have $700,000 left.
Wait until they start talking about grading a $15 million dollar house to the dirt because they bought it just for the land value~
For the broad middle class, life improving. For most of those poorer, a million would be life changing for some time, but not their whole life.
Middle class? Like where the median HHLD income is or around there? 60-70k and getting 1mm is only life improving not changing? Even in the 100k or higher range, life changing still applies and to think otherwise is complete nonsense. Paying off one’s house and having funds left over for other things like new cars and retirement/college savings is life changing not some simple “improvement” of a better car or better food options.
A million dollars (even 600k after taxes) would be helpful to most people. I mean are you saying some would turn it down? Like no point in taking it?
My DH will be getting about 60k soon from a family home that was passed on to him and about 15 other people. It's a bummer that so many others are involved because it could have been so much more if it was just us...but is anyone going to say, oh forget it, 60k will do nothing for me? I wish they would but it's not going to happen.
People really need to be more grateful these days. Won money or money sent to you that you had to do nothing for is pretty nice.
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