@Lynnar wrote:
Seriously? Millionaires? In MA? $1 million. I don’t think so. Most people take the lump sum up front. That’s $500,000, right there. Then? You pay Federal taxes on that! 35%! So take another $175,000 from that. Then....they live in MA! High state taxes. All Northeast states are high tax states. On top of that, if looking in MA, you don’t get much for your buck. If they lived in Mississippi, I would say yes. So these people are not millionaires and this is a waste of the viewers time! This couple should call a financial advisor and invest it in some good growth funds.
The show is called My Lottery Dream Home. Not sure the angst here. The Northeast may have fairly high taxes but they also have very comprehensive services. However, NH does t have any income tax but are expensive with real estate taxes. You may have more bang for your buck in cheaper Mississippi. But you also don't make nearly as much as you do in Massachusetts. So it's not a clear cut advantage. As for this couple, that $400k home has likely nearly doubled in price as has all the property values in Worcester since the start of the pandemic. It's hard to rent here now. So they are doing just fine.
Don't know how this show is a waste of time. It's a show. It's entertainment. Talk about bad investments, maybe you should know what you're watching and the premise behind it before spending all that time on it.
Episode
The show is called My Lottery Dream Home. Not sure the angst here. The Northeast may have fairly high taxes but they also have very comprehensive services. However, NH does t have any income tax but are expensive with real estate taxes. You may have more bang for your buck in cheaper Mississippi. But you also don't make nearly as much as you do in Massachusetts. So it's not a clear cut advantage. As for this couple, that $400k home has likely nearly doubled in price as has all the property values in Worcester since the start of the pandemic. It's hard to rent here now. So they are doing just fine.
Don't know how this show is a waste of time. It's a show. It's entertainment. Talk about bad investments, maybe you should know what you're watching and the premise behind it before spending all that time on it.