Even if I get banged for 40% combined state and Fed taxes, it's better than old Stinkfinger Joe taking all of it for his DNC chums.
“Even if I get banged for 40% combined state and Fed taxes, it’s better than old Stinkfinger Joe taking all of it for his DNC chums.”
That will be the center of many discussions around the kitchen table or in the family room without the tv being on.
We took out a reverse mortgage 3 years ago, your paragraph above was a discussion with our CPA and trust lawyer.
If you don’t have a monthly mortgage payment and keep your house in good shape. You have lowered future utilities, upkeep and other homeowner costs.
So if Joe becomes president, you take out enough IRA money to put in long term investments in your home to make it more liveable with lower utilities and future upkeep like new roof, hvac systems, new storm windows and good paint jobs inside and outside your home.
One of my female in laws, still works in an office in her home. She has informed her husband,”If Joe is elected, that they will go for a reverse mortgage, fix up their home and take some expensive vacations. Their kids will have smaller inheritances.” They live in a midwest snow belt and spend about one winter month in the St Augustine area. If slo joe is elected, they will buy a trailer to spend the winter in and maybe longer for lower taxes. That can be tricky with a reverse mortgage.