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Old 02-20-2014, 01:24 PM   #41
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Not bad! Once your health insurance goes down at age 55, I think you'll be set.

Or, you could go to the UK but then I think you might need to include tax comparisons as well?
True, but overall tax is a little less if I go to the UK and have income of $35k. The combination of US federal and state tax is a little more than the tax I'd pay in the UK and real estate tax is less in the UK. So foreign tax credits will cover my US federal tax liability, and there will be no state liability. There is the 20% VAT tax on goods and services in the UK to consider, but I've looked and expenses and my budget would not be much different.

Right now I really enjoy living in Boston and have a good social life there, but if health, or any other costs, become a real issue I will probably move back to the UK as my total cost of living will be far less there.
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Old 02-20-2014, 02:24 PM   #42
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These are just about the same as we are experiencing. The one exception is that your umbrella is a bit lower than ours. Your home insurance is also about $150 lower than ours, but that is based on home replacement costs, so it is difficult to compare apples to apples.
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Old 02-20-2014, 03:14 PM   #43
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Note on the networth umbrella size issue, consider what the your state protects in bankruptcy. 401ks are protected nation wide, in Tx your house is protected. SS is protected also.
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Old 02-20-2014, 03:33 PM   #44
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If I return to the UK my insurance costs would likely be

Medical $0
Dental $0
Home $500
Auto $900
LTC $0
Umbrella $0

This would reduce the percentage of my budget set aside for insurance from 22% to 4%. That's a frightening comparison.
Maybe not a bad place for all of us to retire to so our insurance would be practically NUN. But I heard you might have to pay for umbrella insurance seeing that it rains there all the time. Just kidding good luck to you.
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Old 02-20-2014, 03:42 PM   #45
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Wow, teen drivers are expensive......figures I suppose.
Teens are insanely expensive...about $1,000 each here in the Philly Burbs, and that's for kids with good grades. We learned the hard way that you have to get insurance for them as soon as they get their license, whether they drive the car or not! Eldest is in college 13 hours away, home for maybe 3 months a year if he works summer here and not elsewhere, so they are "generous" and give us a $200 break for him.

Philly is crazy expensive for insurance anyway. I would tell you what we pay for that, but it would depress me to look it up. Can't wait to downsize and leave this high COL.
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Old 02-20-2014, 06:51 PM   #46
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That does sound high, but it will depend on the assessed value, contents etc.

My home is assessed at $450k and has a 2000 sf unit and a 1000sf unit downstairs. I pay insurance of $1300 a year.
My assessed value is only 1/4 of that. I have been to several companies they all charge around the same for my home. I am stumped. My house it about a 65 years old a ranch in the suburbs.
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Old 02-20-2014, 07:07 PM   #47
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Perhaps there should be an ACA for all insurance (home, auto, renter, dental, LTC, did I miss a few?). Sure would like to sluff some of it off to the poor working stiffs still left.
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Old 02-20-2014, 07:20 PM   #48
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My assessed value is only 1/4 of that. I have been to several companies they all charge around the same for my home. I am stumped. My house it about a 65 years old a ranch in the suburbs.
Maybe it's county? We're in Jackson. Age? We were fortune to by a new home at the peak. Where's the nearest Fire Department? Two miles from us, paid for by huge property taxes. Is there a water souce? We have no fire hydrants for a mile or more. Maybe all or some apply.
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Old 02-20-2014, 07:55 PM   #49
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Maybe not a bad place for all of us to retire to so our insurance would be practically NUN. But I heard you might have to pay for umbrella insurance seeing that it rains there all the time. Just kidding good luck to you.
Those auto and home insurance numbers are the average amounts people pay in the UK. Health and Dental is usually zero, although some people do have some private dental insurance. LTC and Umbrella are not that common in the UK.
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Old 02-20-2014, 08:03 PM   #50
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Seattle area 2,400 sq ft Cost $792

08 accord 03 pilot 96 corolla 79 ford pickup 4 people ages 47,46,20,17
Cost $1,992

$1 million umbrella $624

Life $1 million $312

Health $0 (still working)
Your Umbrella is very expensive but you might have dangerous/expensive hobbies or a less than stellar driving record.....Still seems expensive.
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Old 02-20-2014, 08:05 PM   #51
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Teens are insanely expensive...about $1,000 each here in the Philly Burbs, and that's for kids with good grades. We learned the hard way that you have to get insurance for them as soon as they get their license, whether they drive the car or not! Eldest is in college 13 hours away, home for maybe 3 months a year if he works summer here and not elsewhere, so they are "generous" and give us a $200 break for him.

Philly is crazy expensive for insurance anyway. I would tell you what we pay for that, but it would depress me to look it up. Can't wait to downsize and leave this high COL.
Hand your teen cash for a taxi for every trip. Sounds like it would be cheaper! Definitely safer for your kid.
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Old 02-20-2014, 10:41 PM   #52
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Down here in the land of hurricanes, tornados, hail, and burglaries, $3000 a year for home insurance isn't at all unusual.
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Old 02-20-2014, 11:27 PM   #53
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Down here in the land of hurricanes, tornados, hail, and burglaries, $3000 a year for home insurance isn't at all unusual.
Yes, and I know people who pay more here and have a 2% deductible. Even car insurance is nuts around Harris County. But the barbecue is great!
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Old 02-21-2014, 04:27 AM   #54
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Hand your teen cash for a taxi for every trip. Sounds like it would be cheaper! Definitely safer for your kid.
All that would mean is that we would pay for taxi and their insurance. Once they get that license, and they still have your home as their primary residence, they must be on your insurance. There is no taxi only option.

Lucky for us Eldest got his license the day before he left for college. We learned our lesson and Youngest will not get his til close to that time too, though he wanted his permit the day he turned 16. I guess I am the taxi. It's not as though we were going to buy them a car to use.

You can't even insure them on just one car, not that our Hyundai and minivan, both with about 100,000 miles are all that expensive to insure, relatively speaking.
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Old 02-21-2014, 10:58 AM   #55
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Keep in mind that insurance, home, auto, etc. is also based on where you happen to live, ie postal codes, and by extension the weather, risks, demographics, crime rates etc of where you live.

My car insurance went down slightly I moved to a different postal code in the same city. Agent told me that it was partly based on all claims by all insurance companies for people in the postal code.
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Old 02-21-2014, 03:06 PM   #56
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I'm jealous of all your insurance rates!

We pay :

$5650 for auto insurance (4 cars and two college aged boys. Both have good driving records and qualify for good student discount)
$5500 for home owners insurance (4900 sq. ft house in the middle of hurricane and sink hole country)
$7600 for health insurance (this is our portion of our employers coverage)
$800 dental
Life is paid by DH's employer

Getting ready to add another teenager to our auto insurance. It's a daughter and I have heard they are less expensive. It'll be nice when my boys are off the payroll!
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Old 02-21-2014, 11:13 PM   #57
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Keep in mind that the cost of homeowners insurance has nothing to do with the land value - only the cost of construction and contents.

Our house has an outrageously high zillow price, despite being a 50 year old tract home, because we're in a nice neighborhood in a very expensive city. But the cost of replacement is about 1/4 of the current market value. The expensive part of our house is the land.

So the home owners insurance cost can be completely disconnected from the market value of the home, if the land is expensive.
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Old 02-22-2014, 08:12 AM   #58
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Keep in mind that the cost of homeowners insurance has nothing to do with the land value - only the cost of construction and contents.

Our house has an outrageously high zillow price, despite being a 50 year old tract home, because we're in a nice neighborhood in a very expensive city. But the cost of replacement is about 1/4 of the current market value. The expensive part of our house is the land.

So the home owners insurance cost can be completely disconnected from the market value of the home, if the land is expensive.
I don't know where Zillow gets their estimated values. A house we own is rated at $232K but in that neighborhood, larger ones (25% more square footage) are selling for the mid-$180K range. Nuts.
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Old 02-22-2014, 12:16 PM   #59
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Ages 62/60 and both retired:

Auto $900 (pick-up truck and sedan)


Long Term Care $2500

Home $1100 (5400 SF detached and 1300 SF Condo)


Dental $300 (retiree/employer group coverage)

$2M Umbrella $200

Health $2600 (retiree group HDHP with employer HSA contribution of $1500)

Life $615 ($500K term policy paid by me and free $220K employer group plan, which drops to 25% coverage at 65)

My dental coverage is exceptional and worth every penny of paid premium. I get 80 percent coverage for crowns and 60 percent coverage for implants, with maximum annual limit of $3k. And two free dental cleanings/ and check-ups, which pay for the coverage itself. Also, the in-network negotiated rates by the plan for our dentists really save us a lot. I can use funds in my HSA to pay for expenses not covered by dental insurance.
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