Comment on This boomer couple would be hit with $700,000 tax bill if they sold their mansion
Jollyllama@lemmy.world 1 week ago
Your home listed at…$4,500,000 is going to cost you $700,000 in taxes? Cry me a river straight to the bank with your remaining $3,800,000. I hope they raise the tax.
Fuckfuckmyfuckingass@lemmy.world 1 week ago
Plus they’re in their 70’s. Pretty sure 3.8 mil will last you the rest of your life.
MrMcGasion@lemmy.world 1 week ago
I’m in my 30s and could make 3.8 million last me the rest of my life. Even if I wasn’t good at investing and just put it in an interest checking account earning 1% interest, it would earn 38,000 a year. Which is right around what I make now. There’s two of them, and you do have to account for inflation, but it really wouldn’t be difficult to get 2-3% return on that and still be able to live off the interest alone.
Saledovil@sh.itjust.works 1 week ago
Not if you need it to buy a house.