Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
New Plan, Interesting here.
Old 02-05-2006, 10:33 AM   #1
Thinks s/he gets paid by the post
 
Join Date: Nov 2005
Posts: 2,119
New Plan, Interesting here.

Took the house off the market here in NJ. seriously folks I am not sure what the government is saying and I know having the house on the market for 30 days may not be a good indication but things are slow .

I decided after a trip thru the raleigh area and saw what my money will buy me in real estate and saw the tremendous growth that is occuring and TAXES that will only GO UP in that part of NC heck wake cty is opening 7 NEW SCHOOLS in August of this year and well I think I will stay here for 3 years at which time I will have a much better financial footing. The pension will be near 42,000 instead of 31,000 and during this time I will travel all over the usof a to find the best place to set my hat.

In the meantime my mortgage is still fixed at 5.5% for the next 4 years and my salary will go up 4 % each of the next 3 years.

Sure I must work in Newark and that commute but hey I am comfortable with my choice.

So I quit at 53 instead of 50 not bad.
__________________
newguy88 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: New Plan, Interesting here.
Old 02-05-2006, 11:31 AM   #2
Thinks s/he gets paid by the post
JPatrick's Avatar
 
Join Date: Jun 2005
Posts: 2,445
Re: New Plan, Interesting here.

Plus, your plan gives you more time to get the accent right
__________________
JPatrick is offline   Reply With Quote
Re: New Plan, Interesting here.
Old 02-05-2006, 03:07 PM   #3
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 3,945
Re: New Plan, Interesting here.

More power to you. Sounds like a good plan - higher pension and more time to select the right spot for retirement.
__________________
May we live in peace and harmony and be free from all human sufferings.
Spanky is offline   Reply With Quote
Re: New Plan, Interesting here.
Old 02-07-2006, 09:30 AM   #4
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: New Plan, Interesting here.

I wouldn't fret too much about Raleigh/Wake County raising taxes. We have a fiscally conservative government in place. The city council and county commissioners throw a $hit fit when someone proposes a $0.01 property tax increase. Check out the historical property tax rates. The rates now are lower than they were 10 years ago.

Just make sure you don't accidentally buy a place in Chapel Hill. Unless you like 10+% tax increases every freakin year (I learned my lesson the expensive way).

See ya'll in a few years!


edited to add Wake county/raleigh historical property tax rates:
http://www.wakegov.com/NR/rdonlyres/...xRates2005.pdf
__________________
justin is offline   Reply With Quote
Re: New Plan, Interesting here.
Old 02-07-2006, 10:37 AM   #5
Thinks s/he gets paid by the post
 
Join Date: Nov 2005
Posts: 2,119
Re: New Plan, Interesting here.

Quote:
Originally Posted by justin
I wouldn't fret too much about Raleigh/Wake County raising taxes.* We have a fiscally conservative government in place.* The city council and county commissioners throw a $hit fit when someone proposes a $0.01 property tax increase.* Check out the historical property tax rates.* The rates now are lower than they were 10 years ago.*

Just make sure you don't accidentally buy a place in Chapel Hill.* Unless you like 10+% tax increases every freakin year (I learned my lesson the expensive way).*

See ya'll in a few years!


edited to add Wake county/raleigh historical property tax rates:
http://www.wakegov.com/NR/rdonlyres/...xRates2005.pdf
I have seen that tax rate number, however the big building boom and the schools and infrastucture that is built can only do one thing bring people in.

I am gonna take a long hard look before I move in 3 years.

__________________
newguy88 is offline   Reply With Quote
Re: New Plan, Interesting here.
Old 02-07-2006, 10:59 AM   #6
Thinks s/he gets paid by the post
SteveR's Avatar
 
Join Date: Jul 2005
Posts: 2,803
Re: New Plan, Interesting here.

Quote:
Originally Posted by newguy88
I have seen that* tax rate number, however the big building boom and the schools and infrastucture that is built can only do one thing bring people in.

I am gonna take a long hard look before I move in 3 years.

This is just the begining of the migration South. As more folks retire from the frozen North and Midwest, they will flock to warmer climates like NC, SC, TN, FL, AL, GA, TX, AZ, NM etc. These states will continue to grow and will have significant increased in RE prices and taxes along the way. Get in now while the costs are still "reasonable". It is also worth noting that some of these same states have no income tax. How long will that last? RE Tax will have to bear a greater proportion of the state's funding to pay for infrastructure growth to support the increase in population.

Waiting for stability in prices and taxes in these favored areas may be a long wait.

__________________
Work? I don't have time to work....I'm retired.
SteveR is offline   Reply With Quote
Re: New Plan, Interesting here.
Old 02-07-2006, 11:24 AM   #7
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: New Plan, Interesting here.

Quote:
Originally Posted by newguy88
I have seen that tax rate number, however the big building boom and the schools and infrastucture that is built can only do one thing bring people in.

I am gonna take a long hard look before I move in 3 years.

We have had high population growth and "building booms" for the last decade. In spite of that, taxes have remained stable. As always, do your due diligence on a place before you move there, but if you are afraid of a huge increase in property taxes, I wouldn't worry too much, unless the influx of liberal Northerners starts influencing local politics.

Here's the way things work - the City Manager's budget department proposes a very tiny budget increase. The mayor and city council freaks out and says "no tax hikes on my watch". City Manager goes back to the drawing board, cuts out the fat, gets more efficient, and brings back a budget with no tax increase. I know it is hard to believe, but a 1 cent tax increase gets a lot of airtime on the 5 o'clock news here. The city politicos (liberal and conservative alike) are very responsive to the concerns of taxpayers (voters).
__________________
justin is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Free Vanguard Plan - Opinions? Jeb-NY FIRE and Money 2 12-21-2006 03:17 PM
Fired! Now here's the plan... madeit! Life after FIRE 26 10-05-2006 10:59 AM
Pension Plan Gurus UncleHoney FIRE and Money 4 08-11-2006 09:48 PM
nTelos cell phone plan? Dreamer Other topics 3 07-14-2006 12:27 PM
A Plan to Start Out - Help please! Jane_Doe FIRE and Money 13 11-18-2005 10:06 AM

 

 
All times are GMT -6. The time now is 07:54 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.