Anyone depressed about having to delay retirement due to inflation/stock market? (friend, grandma)

[elnrgby]

Originally Posted by Maddie104

I would suggest that higher education leads to the higher standard of living due to a highly skilled workforce. Less children are typically a byproduct of deferring children during prime childbearing years due to education and professional needs and to a lesser extent personal choice. Better healthcare/medical advances lead to increased longevity. The other side of this argument is to support women who are in the workforce to have more children who become productive contributing members, i.e., paid maternity leave, subsidized childcare costs. Using your argument, what if no highly skilled women like yourself had children, could we count on robots?

Sorry moderator, this is substantially off topic, but the conversation evolved it this direction & I think it's an interesting bit of info... so, there is a company Hello Robot based in Silicon Valley, working on a prototype of robot (named Stretch) programmed for dressing, washing & feeding a senior who needs total care. This would be an independent AI robot, not requiring remote control like surgical-type robots I described in the previous post. The company says they are progressing well with this project.

[leadfoot4]

Originally Posted by elnrgby

Well, it is what it is. "Wokeness" is a just manner of speaking, which does not change the actual reality.

I know........

[Wile E. Coyote]

Originally Posted by Mightyqueen801

I live in NJ, so don't talk to me about property taxes lol. We win the dubious prize of highest in the country. Fortunately, I am only paying taxes on a condo, but I pay close to what you pay on what I am guessing is a SFH.

Mine went up substantially this year.

Well, I will talk about my property taxes all I want. I'm divorced because I refused to move back East with my husband. So, I paid my dues to avoid the NE of the US (except for personally having to deal with a New Yorker). If you don't like NJ move.

My property taxes will price me out of the home I've owned for 30 years (in 8 years). So, I have a bit of a complaint.

[Mightyqueen801]

Originally Posted by Wile E. Coyote

Well, I will talk about my property taxes all I want. I'm divorced because I refused to move back East with my husband. So, I paid my dues to avoid the NE of the US (except for personally having to deal with a New Yorker). If you don't like NJ move.

My property taxes will price me out of the home I've owned for 30 years (in 8 years). So, I have a bit of a complaint.

Whoa, don't take it literally. It's just an expression. But that does suck that you won't be able to manage the taxes.

I'm divorced because my husband wouldn't eat the poison mushrooms, but that's another subject.

And I will eventually move out of NJ. I worked in NYC all my life, and until two years ago I had an elderly mother in our childhood home who needed me on at least a part-time basis, but the plan was always that I would leave NJ once I was retired and Mom was gone. And through quirks of fate and a leap of faith, I am currently in Ontario, Canada, and have been off and on for the past five years, more on than off now, but I won't be able to stay here permanently because Canada doesn't want retirees. (I am in a relationship with a Canadian who is now terminally ill.) As it is, I have to petition every six months to get an extension to stay for compassionate reasons and then retell the whole sad tale at the border every time I leave and then re-enter from the States and hold my breath and hope the CBSA says yes, you may enter. So far, so good.

My brother is living in my place in NJ because he needed a place to stay, but when all is said and done where I am now, I will likely sell my place and move either upstate New York or somewhere in New England where a) property tax is lower and b) my NYS pension won't be subject to state tax.

I don't see myself at this age ever packing up and moving out west where I have no family and only some friends I haven't seen in person in years, and hot weather doesn't appeal to me so I won't go south, either, so it will be somewhere in the northeast for me, just not the NYC metro area.

[leadfoot4]

Originally Posted by Mightyqueen801

.....
My brother is living in my place in NJ because he needed a place to stay, but when all is said and done where I am now, I will likely sell my place and move either upstate New York or somewhere in New England where a) property tax is lower and b) my NYS pension won't be subject to state tax.

I don't see myself at this age ever packing up and moving out west where I have no family and only some friends I haven't seen in person in years, and hot weather doesn't appeal to me so I won't go south, either, so it will be somewhere in the northeast for me, just not the NYC metro area.

I'd think twice, about NY State. I'm in western NY, and in a single family home, on a 1/2 acre lot. Even with the "senior citizen tax breaks" (my wife and I are in our 70s), my combined taxes, town/county and school, are in the $8000/yr. bracket....

[moguldreamer]

Originally Posted by Wile E. Coyote

I feel your pain. In Oregon, freezing property taxes at age 65 is on the ballot again. The problem is most people are not near enough to 65 and like someone else said parents are certainly not voting to reducing the tax base for schools.

That's one problem.

Another is that freezing property taxes for those over age 65 is identically equal to raising property taxes on everyone else.

Property taxes are just one form of a wealth tax, and wealth taxes can have nasty side effects.

[moguldreamer]

Originally Posted by Mightyqueen801

I was attracted in part by the fact that NH would not tax my NYS pension, and I do like the state and New England in general. Not a hot-weather person.

You might like Las Vegas. It rarely gets hot here.

[moguldreamer]

Originally Posted by Wile E. Coyote

I'd be okay with that considering what they do now is keep it all forever. And, they forever raise those property taxes.

My property taxes were $2k 20 years ago; now approaching $5k. Will $10k be affordable in retirement?

In Park City, I've met a guy whose property tax was $98K. That was pre-pandemic; I'm sure it is well over $100K now.

[sheena12]

We do not plan to retire. When you do nothing, you die. There is always work to be done.

We have seen people in their early 60s and late 50s, retire and devote their lives completely to Grandchildren. And to a lesser extent, grown children. What we see isn't pretty.

When your grandbaby is born, a few pictures are appropriate on Facebook. Not one a day. Baptized, dedicated, naming ceremony? Sure. The ANIVERSARY of these events? Uh Uh.

What about YOUR LIFE? Take a class. Listen to new music. Learn to ride a horse. SOMETHING. We know. You are obsessed with your grandkids. I am not. I am YOUR friend. I hate seeing you melt into a grandma. A gigi. A nana. A mee-maw - what ever.

[recycled]

Originally Posted by Mightyqueen801

Whoa, don't take it literally. It's just an expression. But that does suck that you won't be able to manage the taxes.

I'm divorced because my husband wouldn't eat the poison mushrooms, but that's another subject.

And I will eventually move out of NJ. I worked in NYC all my life, and until two years ago I had an elderly mother in our childhood home who needed me on at least a part-time basis, but the plan was always that I would leave NJ once I was retired and Mom was gone. And through quirks of fate and a leap of faith, I am currently in Ontario, Canada, and have been off and on for the past five years, more on than off now, but I won't be able to stay here permanently because Canada doesn't want retirees. (I am in a relationship with a Canadian who is now terminally ill.) As it is, I have to petition every six months to get an extension to stay for compassionate reasons and then retell the whole sad tale at the border every time I leave and then re-enter from the States and hold my breath and hope the CBSA says yes, you may enter. So far, so good.

My brother is living in my place in NJ because he needed a place to stay, but when all is said and done where I am now, I will likely sell my place and move either upstate New York or somewhere in New England where a) property tax is lower and b) my NYS pension won't be subject to state tax.

I don't see myself at this age ever packing up and moving out west where I have no family and only some friends I haven't seen in person in years, and hot weather doesn't appeal to me so I won't go south, either, so it will be somewhere in the northeast for me, just not the NYC metro area.

I lived in northern NJ from 1990-1993 and really liked the experience of living in the northeast because I am a California native. Even 3 decades ago, the property taxes in NJ were legend, although I was renting a modest apartment in Boonton. I like your New Jersey sense of humor.

I'm a bit surprised Canada does not have a (good income level) retiree visa option, as it is almost "free money" flowing into the economy. I suspect is has to do with their health care system, as a permanant resident retiree would have to buy into their state-sponsored health care system. Maybe they don't want to load a bunch of senior citizens into the health care system. Here in Germany as a good income US retiree, I have to buy private health insurance (@ $800 / month) to qualify for a non-employment residence permit. Aside from that and a good ability to speak German, it is fairly easy for a US retiree to get a long term residence permit here.

I'll return to the US about a year from now, and will likely look for a place somewhere in the mid-Atlantic states to live. Perhaps in Virginia, south of Washington DC an hour or so.

The one silver lining in the recent inflation spike is decent interest rates on CDs or bonds. That is just what I wanted at this stage in life. I have plenty of $$ and don't want to risk my fortune in the stock market. If I can get 3.5 or 4 percent or more from interest, that is a huge amount of extra monthly income.