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Millionairs not in the making.
Old 10-05-2007, 08:54 PM   #1
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Millionairs not in the making.

Or How to keep working until your 75.


Life and Debt on Willow Lane - Oct. 5, 2007
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Old 10-05-2007, 09:27 PM   #2
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$20k a year in property taxes for a middle class family. Insanity!!!!!!!
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Old 10-05-2007, 10:02 PM   #3
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We are helping some friends look at middle class houses in our area. Nothing excitingly high priced, but property taxes are routinely in teh $8k range for a sub $400k house. Ahh, the joys of homeownership!
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Old 10-06-2007, 10:33 AM   #4
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Ahh, the joys of homeownership!

Ahh, you're telling me. Just this week the village told me I have to cut down a tree in my front yard that is infected with some kinds of fungus (before it falls on my house) Cheapest bid so far, $2000

Same day the county sends us a letter telling us that our house has appreciated 20% and our taxes will be going from 9500 to 11,000 even though we bought the house last december for EXACT SAME PRICE that it sold for 2 years ago.

As for the article, no shock at all. It's funny that $100K in cash seems to be some magic number. The people my age (who I often talk about money with) that seems to be really common, even if they save its all cash.
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Old 10-06-2007, 11:01 AM   #5
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Thanks for the link. Many people seem to be in denial about their personal economic realities, and the consumer credit industry does everything it can to encourage (and profit from!) that fiction. Sometimes I wonder when the other shoe will drop. To me, you ought to reap what you sow, but I fear that even LBYMers may have to take a hit...
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Old 10-06-2007, 01:08 PM   #6
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Interesting story. It makes me appreciate my 2,000 a year property taxes. And thought it was interesting that the couple who made the least saved the most.

Well, they will be paying into SS for the rest of us.
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Old 10-06-2007, 01:23 PM   #7
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Crap - I was really pissed in New Orleans when my property tax went to $145 after remodeling and now an outrageous $850/yr in north of Kansas City!

Jeeze Louise!

heh heh heh - always loved that one after Dory used it on a post once.
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Old 10-06-2007, 02:50 PM   #8
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Jeeze Louise!

heh heh heh - always loved that one after Dory used it on a post once.
Only other person I ever heard use that phrase was from down around Kalama. I wonder if it is a SW Washington thing?

Ha
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Old 10-06-2007, 03:16 PM   #9
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I remember "Jeeze Louise" from an old Jason Robards tv movie from years ago. Don't remember the movie title but it took place in Minnesota I think. Might have even been black and white.

DW and I picked up on it so when things really amaze us it's always " Jeeze Louise"
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Old 10-06-2007, 03:59 PM   #10
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Over $200000 income and going broke? How long did the magazine writer search for this situation to write about? Please tell me this is not typical for that area of the country.
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Old 10-06-2007, 04:37 PM   #11
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Over $200000 income and going broke? How long did the magazine writer search for this situation to write about? Please tell me this is not typical for that area of the country.

very common
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Old 10-06-2007, 06:34 PM   #12
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Over $200000 income and going broke? How long did the magazine writer search for this situation to write about? Please tell me this is not typical for that area of the country.
Check out their bills... $20k property tax, $10k-$20k for private schools, mortgage, car loans, etc... these people save very little. They are the opposite of LBYM.
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Old 10-06-2007, 08:11 PM   #13
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Over $200000 income and going broke? How long did the magazine writer search for this situation to write about? Please tell me this is not typical for that area of the country.
I have to tell you that with a salary a bit over 100k I found things a bit tight at times. But some of that was self-imposed due to taking a 15 year mortgage, high 401k conributions, etc. If I had not done as much saving, I still would have been arsed from time to time if I had bought a snazzier car (instead of a $1000 value beater) and had kids to put through private school. Things are danged expensive in this area.
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Old 10-06-2007, 10:04 PM   #14
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This competitive consumption is beyond my comprehension.
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Old 10-06-2007, 10:26 PM   #15
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I remember "Jeeze Louise" from an old Jason Robards tv movie from years ago. Don't remember the movie title but it took place in Minnesota I think. Might have even been black and white.

DW and I picked up on it so when things really amaze us it's always " Jeeze Louise"
The Day After - Wikipedia, the free encyclopedia is the only one that I remember with him in it....and certainly would give new meaning to the phrase...
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Old 10-07-2007, 07:30 AM   #16
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The Day After - Wikipedia, the free encyclopedia is the only one that I remember with him in it....and certainly would give new meaning to the phrase...
I think this was it. The plot sounds familiar. It wasn't that memorable of a movie except for Jeeze Louise.

A Christmas to Remember (1978) (TV)
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Old 10-07-2007, 11:51 AM   #17
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Only other person I ever heard use that phrase was from down around Kalama. I wonder if it is a SW Washington thing?

Ha
Duh - I just remembered I have an Aunt Bea in Kalama-originally from Minnesota - don't think Jeeze Louise is in her vocab.

Back on thread - I wonder if my explanation of how we lived on a 12k/yr($1000/mo) in the LA swamp to some of those 'strapped' $200,000/yr folks would go over - probably draw that Alien from outer space look.

heh heh heh - wouldn't try it post Katrina - and looks as if parts of my old swamp are getting a huge dose of gentrification - mini-seawalls/bulkheads and 20' plus pilings and extra big 'camps' - more toward the McMansion class. Big new bridge going in at the Rigolets.
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Old 10-07-2007, 02:30 PM   #18
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There is a Kalama, Washington? I grew up on Kalama Beach, on the Windward side of Oahu in Kailua.

(I am very aware of "Jeez Louise" since I often (shhh!) go by that name and get teased. It has been around since before The Jeffersons, since at least the 1950's. Later the song "Footloose" spread the expression around a bit. I don't think it is just one geographical area since I have been teased about it in seven states. )

And UncleMick, I think a lot of LBYM is what we spend, not so much what we make. For LBYMers like us, any extra income just gets funneled into the nestegg and it is sort of like play money in that respect.
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Old 10-07-2007, 07:10 PM   #19
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There is a Kalama, Washington? I grew up on Kalama Beach, on the Windward side of Oahu in Kailua.
It's not all that surprising -- Kalama, Washington was named after a Hawaiian man

City of Kalama, Washington | History

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Old 10-07-2007, 07:36 PM   #20
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It's not all that surprising -- Kalama, Washington was named after a Hawaiian man
.
Fascinating! That would explain it.
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