Retirement Planning - Lessons Learned

   / Retirement Planning - Lessons Learned #181  
Those property tax maps by state don't mean much due to the majority of tax is local, i.e., county, city, school board, garbage collection district, etc.

I moved from Florida to New Hampshire and the map shows a huge increase in property tax. However, my tax rate actually went down appreciably. It just depends on the locality, not the state.

The state maps are derived by some averaging algorithm. Do your research at the local level.
 
   / Retirement Planning - Lessons Learned #183  
Wow. Maybe I'll move to Alabama, so I can complain about how much it's different than where I came from, and all of the things which should be done to improve things. :rolleyes:

We got that here BIG TIME. Just move in, join the school board or town council and start yappin.
 
   / Retirement Planning - Lessons Learned #184  
Homestead exemption amounts to $75 reduction to CA homeowners... not much on a 15k property bill.

The kinfolk said "Jed move away from there"

Beverly Hillbillies 2020's leaving California

I know your situation. Hopefully thing will work out for the best. :)
 
   / Retirement Planning - Lessons Learned #185  
This is interesting..so in order to claim homestead you have to have a mortgage? Maybe I don't want to pay if my mortgage..just refinance with a lower payment perhaps?

No. Everyone gets the homestead deduction if they own the home, mortgage or not. Only the people with a mortgage (or home equity loan, which is technically a mortgage) get to claim the mortgage deduction.

Our home equity loan is a mortgage. It's only a 7 year mortgage, and it frequently has a ZERO balance, but it's still a loan against the value of the house. So we get to claim the mortgage deduction in addition to the homestead deduction.

I'm pretty sure the goal is to get people to own the house they live in VS renting it. It's been proven many times that people that own the house they live in take better care of it, and that keeps neighborhoods more stabile.
 
   / Retirement Planning - Lessons Learned #186  
Overall, I like the way Indiana is run as a state. Much better than my state.
 
   / Retirement Planning - Lessons Learned #188  
Overall, I like the way Indiana is run as a state. Much better than my state.

Yep. There are some strange politics here, but I'm not gonna go into that. Business wise, it's better run than a lot of other places. City-wise, almost every major city in the country has areas that need improvement, we are no different. That applies not only to low income areas but extremely high income areas as well.

As far as location, we're a day's drive from something like 75% of the U.S. population, which makes us a major shipping hub. Tons of warehouses and shipping centers across the state provide a lot of employment. Auto factories. Major RV industry in northern part of the state. Medical device manufacturing. Energy.... anyhow, read more here.
The Biggest Industries In Indiana - WorldAtlas

Cost of living in Indiana is dirt cheap and anyone that's not working (except in these pandemic times) either can't work, doesn't want to work, or is unemployable. I've never been without employment except by choice, and that was 35+ years ago.

Up here in South Bend, we're an hour from Chicago. 2.25 from Indy. 3 to Detroit and Cleveland. 4 to Cincinnati, Louisville. 5 to St. Louis. So there's plenty of big city close enough. The beaches of Lake Michigan are 25 minutes away. We have 250,000 people within 20 minutes of me, yet I'm never more than about 15 minutes from a corn field when in the center of that population. Southwest lower Michigan has too many lakes to count. Forests. Parks. State parks. Public hunting areas in both Indiana and Michigan.

No mountains, though. We get snow and cold up in the northern part of the state, but an hours drive south and it's usually 10-15 degrees warmer and no snow. Summers get up into the 90s. Usually plenty of rain for crops. If not, there's ample underground water for irrigation.

Anyhow, enough of that. I like it here. We got our problems, but they are outweighed by the benefits.

Then we got this, of course. :)

 
   / Retirement Planning - Lessons Learned #189  
I like Missouri.

Low state taxes.

Favorable gun laws.

Fiscal responsibility.

Only issue - bordered by Illinois!

MoKelly


Hey, so are we! :laughing:

Most of Illinois is pretty nice. Chicago politics, on the other hand...
And now we ask you turn to our new channel, TopNewsTalk. :)
 
   / Retirement Planning - Lessons Learned #190  
Hey, so are we! :laughing:

Most of Illinois is pretty nice. Chicago politics, on the other hand...
And now we ask you turn to our new channel, TopNewsTalk. :)

My experience with Illinois is I lived in Peoria as a kid (5-10 years old).

I was a huge Cardinals fan surrounded by a whole bunch of Cub fans.

It was a great time for the Cardinals (1960’s - 3 trips to the World Series). The Cubs were, well, they were the Cubs. Never won. Never really competed. Despite it all, I had to keep hearing “wait till next year”. Over and over and over.

So, Illinois will always be tainted in my opinion.

MoKelly
 

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