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Thanks for clarifying and going into detail. :) I had to use the map on the assessors web page to locate the property as it didn't go directly with the address as you found. I'm not sure where I got 18.3786 as I also saw 16.3786 on the tax estimator page. Madison Co property tax page is...

Thanks for the replies :) Some more details about one of the properties. Address: 1620N State Road 53, Madison, FL 32340 Asking price is $765,000 located in Madison County, Fl. According to Realtor.com, 2019 taxes were $2,838 on a total assessment of $194,827 According to Zillow, 2019...

Looked at a couple of properties in Florida on Zillow/Realtor. The seller's property tax liability was around $2400-$2700 a yr (I looked on the assessors page to verify) which I could easily afford with my modest retirement cash flow. Calculating what I would have to pay if I bought these...

Please let us know what you find out about retirement visa requirements. Such as minimum income, or bank balance. If you can buy property or if you must have an Italian bank account and what the minimum amount is. Driving license, can you convert your state side license to an Italian one...

Update: First I want to thank all of you who helped me sort this out. :) We started an IRA [Spousal] at our credit union with a CD for $7K (55yo, so catch up) at 3% (37months). After just completing our taxes, we have reduced our tax liability to the Fed, State & County of an amount of...

I read your other post where you mentioned you live in an unincorporated township and on a tree farm, so the reason for your low property tax. Your pension not being taxed, is that Military? I didn't know that there was any type of income/pension etc that was not taxed in Maine? I grew up...

Thanks SevenUp for your replies and the link. :) A traditional IRA (Spousal) will help reduce this years tax liability as our earnings will be lower in retirement and we will move to an income tax-free State (current state is around 7.5%). The next step is to create a Spousal IRA depositing...

OK, here's another wrench in the gears; Spouse A is the employee with work sponsored retirement plan (TSP). Spouse B has unearned income and does not contribute to a work sponsored retirement plan since 2009. BUT Spouse B still has a retirement plan from an employer who they left around...

Thank you for clarifying and the link :) The part about any earning being free of tax is the real benefit. :dance: However, it appears that one has to wait 5 year before taking a distribution (of the earnings). Per the link: "A distribution from a Roth IRA is federally tax-free and...

Perhaps I am missing something, but other than earnings on a ROTH being tax delayed, I don't see a benefit over putting taxed monies into a CD.

Thanks for your reply and clarifying that AGI is the factor used. :)

Can anyone clarify/confirm? I was reading the rules about setting up a spousal IRA and from what I understand, monies deposited in a spousal IRA would not be tax deductible due to the working spouses income...

Thank you for that advice. We never really thought about IRAs, believe that the TSP was the retirement savings (and same as an IRA) along with the fed pension. Thank you so much for that valuable information. The W4 additional with holdings (line 6) was something I overlooked...

Thanks for everyone's replies To add some more information; The withholding amount is the highest with 0 dependents claimed, even thought we are a two person family. I don't know if it's possible to have even more money withheld by the employer. The wage earner has their own IRA...

Thinking of setting up a Spousal IRA and need some advice. Some reasons why; 1. To minimize state income tax as we plan on moving to a tax-free state after retirement. State and local income tax rate is around 8%. 2. Last years we owed on our taxes, so I'd like to find a tax shelter in...

I wasn't quoting anyone, just emphasizing that what I thought was a reduction in benefit as being 'the tax'. Before reading this thread I honestly thought ones SS benefit was reduced by up to 85% based on ones income. I figured that the Fed Gov would consider one who has income from other...

I learn a lot here. :) I thought 'taxed at 85%' meant that one would only get 15% of their SS benefit, the rest (85%) being taken away as a 'tax' for earning too much in retirement.

You may have paid a higher sales price than you could have in order to subsidize that 0% loan.

Here's a way one can think of the numbers. If your money can earn 2.65% in a 3 year CD, how much tax will you pay on the interest earned? What I do is lend myself the money and make the same payment to myself as the loan would require. So I'd be giving myself a loan at 2.75% and the interest...

Not living off just that. There is a modest pension (40% of current pay) we will use to live off. The savings in CDs will be spent on a nice house and cars when we need them etc. so it's not considered part of our retirement income.

To answer your questions: Since 1987, 401k always in US T Bonds, after taxed cash savings always in CDs. 2.5-3 years. 10-30 years. (Will also have a pension/annuity, 40% of current salary).

Thank you everyone for your replies. I think I should have written 'safe' rather than "no risk". I understand inflation erodes the value of money and there is a 'risk' to that value with reduced purchasing power. The last ten years have taken it's toll on our choice with an average yield of...

Anyone here who has never had their retirement/investments/savings/401K in the stock market? Our 401k has always been in no risk/low yield Fed bonds. Our life savings have always been in credit union CDs.

I sold some personal items on Craigslist last year for a move, as well as a nice vehicle (sold it for a low price, buyer didn't negotiate). I took a lot of good quality photos (higher the value, higher number of photos) and provided as much relative details and information about the item I was...

In a past life I worked as a Realtor. This was back in the 90s when 'Buyer's Agent' first went into affect in the State I worked in and where I focused my dealings. I loved working with buyer's on their behalf as they got my representation being their Buyer's Agent. I didn't sell them...