Retirement Planning - Lessons Learned

[Jstpssng]

Back during WWII everybody (apparently) had "Victory Gardens". I've long held that we should be pushing those again for long-term "food security." Like the age old saying "Teach a man to fish and he'll stay out on the lake all day, then lie about the size of the fish"

Oh, wait. Bad analogy.

 

[Oaktree]

When it gets to that point, I wonder if I want to be around. Like anything else, gold will only be yours if you're strong enough to hold it.

Same here. And that gold is only worth something if you can find someone who wants it in exchange for something you want. If things really get that bad you might be better off having a chicken or some turnips to barter.

By having that mortgage, it qualifies us for a homestead exemption, which cuts our property taxes almost in half.

I've heard the term homestead exemption, but don't really know what that means. Are you saying you get 50% off your property taxes simply by having a mortgage? Not sure I understand the logic.

 

[riptides]

When I hear homestead I think of some entity willing to give you a break for your willingness to settle in an area.
Good or bad.

Same here. And that gold is only worth something if you can find someone who wants it in exchange for something you want. If things really get that bad you might be better off having a chicken or some turnips to barter.



I've heard the term homestead exemption, but don't really know what that means. Are you saying you get 50% off your property taxes simply by having a mortgage? Not sure I understand the logic.

 

[MAD777]

I've heard the term homestead exemption, but don't really know what that means. Are you saying you get 50% off your property taxes simply by having a mortgage? Not sure I understand the logic.

Homestead exemption gives you a break on property taxes for your primary residence only. For instance, Florida reduces your appraised value by some fixed amount, usually $50,000 depending on county. Then your taxes are based on the lower adjusted appraisal value.

This gives a discount to year round residents in Florida, but taxes snowbirds with vacation homes the full amount.

 

[txdon]

When I hear homestead I think of some entity willing to give you a break for your willingness to settle in an area.
Good or bad.

In some states, not yours, it is a tax break for your primary residence. You can only claim one Homestead Exemption. It does not entice anyone to a "good" or "bad" area. It is not tied to a mortgage. It is not like the tax breaks a municipality gives a business to move to their city.

 

[Hay Dude]

I just laugh at people that think handguns, shotguns or rifles will be sufficient to defend their possessions if things descend into unbridled chaos.

Yep. Its like they think theyre Al Pacino in the gun scene in the movie Scarface.
I put the one of Ralphy in for Steppy. :laughing:

 

[fried1765]

I just laugh at people that think handguns, shotguns or rifles will be sufficient to defend their possessions if things descend into unbridled chaos.

Ha Ha !!!!

 

[Hay Dude]

Exactly correct!
However,.....Those who have the gold will be able to buy ANTYHING that they want.....WITH THE GOLD!
(I do have a few hundred pounds of lead also)

Oh I got guns....believe I got em too, but they aint going to do as much as the people who want to take them away think they will.
Gold will be more valuable than guns if the economy implodes.
What cha gonna do, go around and hold up liquor stores with your .303? :laughing:
No, you will need a currency that has value.
Guns would be useful for hunting game, though.

 

[drssg]

Retirement planning has degraded into prepping for the zombie apocalypse. :laughing:

 

[Hay Dude]

Retirement planning has degraded into prepping for the zombie apocalypse. :laughing:

Guilty! :laughing: