Owning in retirement

In article ,
Ross wrote:

I am getting close to this event. I was wondering how those that have
already retired keep an airplane. I am fortunate that I have a
moderately priced hangar, reasonable (this is relative) fuel for my
area, and perform owner assisted annuals. But, I am concerned on keeping
the flying going and not feel that I have to let it sit more than I
should. I have always been the sole owner since I purchased it over 10
years ago. Thanks.

I always made the max contributions to my 401(K) plan, retired early,
sold my 3-BR 2.5 bath townhome in CA, bought a 3 BR, 3 BA hangar homw,
with pool in FL. The 401(K), plus pension, plus Social Security, less
the state income tax and Social Security tax, enables me to do it.

--
Remove _'s from email address to talk to me.

On Apr 22, 7:24*am, Orval Fairbairn
wrote:
In article ,

I always made the max contributions to my 401(K) plan, retired early,
sold my 3-BR 2.5 bath townhome in CA, bought a 3 BR, 3 BA hangar homw,
with pool in FL. The 401(K), plus pension, plus Social Security, less
the state income tax and Social Security tax, enables me to do it.

*Your not paying state income tax*???? Christ, I just paid the state
of California over $30,000 in income tax. Man, I need to get some of
that FL myself. I'm paying $600/month in property taxes for my house
and I can't even write it off (AMT). I just bought a used boat and had
to pay almost $2000 in use tax. I think I'm getting the short end.

-Robert

In article
,
"Robert M. Gary" wrote:

On Apr 22, 7:24*am, Orval Fairbairn
wrote:
In article ,

I always made the max contributions to my 401(K) plan, retired early,
sold my 3-BR 2.5 bath townhome in CA, bought a 3 BR, 3 BA hangar homw,
with pool in FL. The 401(K), plus pension, plus Social Security, less
the state income tax and Social Security tax, enables me to do it.

*Your not paying state income tax*???? Christ, I just paid the state
of California over $30,000 in income tax. Man, I need to get some of
that FL myself. I'm paying $600/month in property taxes for my house
and I can't even write it off (AMT). I just bought a used boat and had
to pay almost $2000 in use tax. I think I'm getting the short end.

-Robert

That's why we escaped from the People's Republik of Kalifornia! THere is
also no "unsecured personal property tax" on boats, airplanes, etc. Auto
tag is $30 per year. Real property tax, however, is about 3%.

--
Remove _'s from email address to talk to me.

Robert M. Gary wrote:
On Apr 22, 7:24 am, Orval Fairbairn
wrote:
In article ,

I always made the max contributions to my 401(K) plan, retired early,
sold my 3-BR 2.5 bath townhome in CA, bought a 3 BR, 3 BA hangar homw,
with pool in FL. The 401(K), plus pension, plus Social Security, less
the state income tax and Social Security tax, enables me to do it.

*Your not paying state income tax*???? Christ, I just paid the state
of California over $30,000 in income tax. Man, I need to get some of
that FL myself. I'm paying $600/month in property taxes for my house
and I can't even write it off (AMT). I just bought a used boat and had
to pay almost $2000 in use tax. I think I'm getting the short end.

-Robert


We in TX do not pay state income tax either.

--

Regards, Ross
C-172F 180HP
KSWI

Ross wrote:
We in TX do not pay state income tax either.

Nor the coveted and much sought-after "use tax".

That's got to be the most abhorrent money-grab ever conceived by man.

Robert M. Gary wrote:

*Your not paying state income tax*???? Christ, I just paid the state
of California over $30,000 in income tax.


How can you not know this? There are a handful of states that do not
have state income tax. WA, WY, TX, SD, FL, AL and NV. NH and TN only
tax dividend income. California has some nice scenery but people that
actually live there have lost their ever lovin' minds.

On Apr 23, 9:27*am, Newps wrote:
Robert M. Gary wrote:
*Your not paying state income tax*???? Christ, I just paid the state
of California over $30,000 in income tax.

How can you not know this? *There are a handful of states that do not
have state income tax. *WA, WY, TX, SD, FL, AL and NV. *NH and TN only
tax dividend income. *California has some nice scenery but people that
actually live there have lost their ever lovin' minds.

I wonder if that will stay the same. WA is becoming so liberal I can't
imagine them not wanting more gov't money. I remember about 10 years
ago FL talking about an income tax (so they could tax those rich
*******s moving down from NY).

-Robert

States that have no income tax are usually fiercely anti income tax. FL
will never change as the retirees are their golden goose, my folks live
there in the winter. Most retirees are not residents of Florida
anyways, they are snowbirds who keep their legal residency somewhere else.






Robert M. Gary wrote:
On Apr 23, 9:27 am, Newps wrote:
Robert M. Gary wrote:
*Your not paying state income tax*???? Christ, I just paid the state
of California over $30,000 in income tax.
How can you not know this? There are a handful of states that do not
have state income tax. WA, WY, TX, SD, FL, AL and NV. NH and TN only
tax dividend income. California has some nice scenery but people that
actually live there have lost their ever lovin' minds.

I wonder if that will stay the same. WA is becoming so liberal I can't
imagine them not wanting more gov't money. I remember about 10 years
ago FL talking about an income tax (so they could tax those rich
*******s moving down from NY).

-Robert

Newps wrote:
States that have no income tax are usually fiercely anti income tax. FL
will never change as the retirees are their golden goose, my folks live
there in the winter. Most retirees are not residents of Florida
anyways, they are snowbirds who keep their legal residency somewhere else.






Robert M. Gary wrote:
On Apr 23, 9:27 am, Newps wrote:
Robert M. Gary wrote:
*Your not paying state income tax*???? Christ, I just paid the state
of California over $30,000 in income tax.
How can you not know this? There are a handful of states that do not
have state income tax. WA, WY, TX, SD, FL, AL and NV. NH and TN only
tax dividend income. California has some nice scenery but people that
actually live there have lost their ever lovin' minds.

I wonder if that will stay the same. WA is becoming so liberal I can't
imagine them not wanting more gov't money. I remember about 10 years
ago FL talking about an income tax (so they could tax those rich
*******s moving down from NY).

-Robert

TX's real estate taxes are pretty high, but then we do not have the
income tax and we do not have personal property taxes on boats, cars,
airplanes. Food is exempted (unless processed) from taxes. Our state /
city sales tax is 8.25%. There are little percentages included for city
road improvements, and several other little special projects that I
cannot remember right now. Housing is reasonable here. My wife wanted to
look at possibly retiring in Florida and I found housing high. But, I am
not fond of Florida, sorry. Nice place to visit and I will be at
Disneyworld the first part of May...

--

Regards, Ross
C-172F 180HP
KSWI

"Newps" wrote in message
. ..
Most retirees are not residents of Florida anyways, they are snowbirds who
keep their legal residency somewhere else.

That is not what I see. I think as many retirees as possible try to pass
themselves off as Florida citizens to avoid taxes. I live in Florida and I see
retirees that only live here a few months out the the year arrive from up north
in cars with Florida license tags. I know for a fact that some of them live
most of the year in large northern cities, but their auto insurance company
thinks they live in Florida (where auto insurance is a lot less). Most have
probably also figured out a way to receive their retirement income in Florida to
avoid their own state income tax. Also, Florida residents get a much better
rate on property taxes than non-residents do.

I don't blame these folks. You can be sure that when I am a retired person
(it won't be long now) my actual residence is likely to be a very nebulous
thing, a thing only for the wife and I to know for sure.

Vaughn