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Old 10-17-2012, 07:17 AM   #21
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Originally Posted by Milton View Post
Wow! That is one heck of a high tax rate. :-(

I'm in exactly the same boat with Taxes. I live in North Jersey too....house worth about $450K taxes are $9k. Not too much you can do about it unless you downsize or move.
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Old 10-17-2012, 10:19 PM   #22
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Hmm the ratio of your lump sum to annual annuity is 15.6. By way of comparison when I retired last year my ratio was 31.7 (I took the lump sum!). My annuity option was COLA'd; yours too?

Oops just saw you're not COLA'd. Maybe that ratio is about right
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Old 10-18-2012, 04:42 AM   #23
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In NJ, I would be faced with similar problems, with the exception of health insurance, which is covered by wife's employment. The main drivers I think about, in case the hammer comes down on me next year are:
- Real estate taxes approx 1K per month. Since wife works out of state, we would be highly driven to sell house and move out of NJ. I believe we could knock that tax in half, for a nets savings of $500.
- Wife's pension is 5-10 years down the road. May or may not be able to exclude a portion of that from NJ tax.
- Healthcare uncertainty if wife loses job (pre-existing conditions for both)

Moving from NJ is something to consider at some point.
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