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To: CatOwner
which is quite easy to have too much income

Well, there went that narrative (work ethic).*

Just kidding (sort of), but you have to keep in mind that you are in a small minority. And hopefully an improved economy will increase your chances to make more money.

*Actually, working hard and making good decisions is no guarantee of success, as I have learned to my dismay. I still believe it increases the odds of success, tho', and helps to keep one out of the economic gutter.

Of course, then there's always the question of what is a good decision. Does one stay near "home" to insure someone (themselves) will be there for their parents in their old age, and forgo many opportunities and much income, or go where the grass is seemingly greener?

80 posted on 12/18/2017 11:20:47 AM PST by Paul R. (I don't want to be energy free, we want to be energy dominant in terms of the world. -D. Trump)
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To: Paul R.
Just kidding (sort of), but you have to keep in mind that you are in a small minority. And hopefully an improved economy will increase your chances to make more money.

My wife and I are retired as of the middle of 2017. We'll be fully retired for the first time in 2018. Great timing. :(

We've talked of moving from California to Texas to be near our only child, who moved there over a year ago. The thing is, based on the property tax rates in Texas, we won't see the overall property taxes being much lower than they are now (thank you Prop 13! - for as long as it will last). So, we would be in a similar boat there.

Assuming the tax plan remains in place for at least 5 years and the tax rates don't rise, we should end up in the plus column once the older of us starts taking RMDs, while the other starts taking SS payments. At that point, the impact of the lower tax rates will overcome the loss of itemizing (in our situation).

82 posted on 12/18/2017 12:01:18 PM PST by CatOwner
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