Date: Tue, 13 Mar 2007 04:09:14 -0500
From: Justin 
Subject: Re: fdic ?--protecting bank accounts ?
Newsgroups: misc.invest.financial-plan
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	VTc2JKbr9PtBC7ktk12MV/bbuSkFvcKD2tdFuH+fbzF7AzAG34dP7Q==
	=jRLm

Sgt.Sausage wrote on [Mon, 12 Mar 2007 16:19:07 -0500]:
>
> "Don"  wrote in message 
> news:3c_Ih.64093$Du6.43230@edtnps82...
>
>> One big safety measure that should not be overlooked is to be sure you own 
>> your home free and clear at the time of retirement. Then, whatever 
>> happens, you will not have to worry about making mortgage or rent 
>> payments.
>
> You've got that permanent rent payment to make the rest of your life
> (barring some oddball "homesteading" exemptions) that we call Property Tax
> or Real Estate tax.
>
>> And nobody will drive you out of your home,
>> not even in an economic downturn
>
> Not so fast on that one. Our local auctions are filled
> with homes where the owners simply couldn't keep up with the
> tax obligations, and therefore they're watching their homes
> go on the auction block.
>
> Happens every day 'round here.
>
> It's good advice -- pay off your home prior to retirement,
> but that still doesn't make it a "sure thing". Them taxes
> take plenty of elderly folks on a fixed-income right out
> of the equation.
>
> Think about this: We're now paying more (on average)
> in property/real-estate taxes than our parents paid on
> actual mortgage payments (we being my wife and I -- and

Really? Property tax in this area is under 1000 a year