Bob R says:
>We both grew up in Illinois, we have family there, >but taxes are killer (my >dad reminds me every >time I talk with him on the phone). >So much to consider.... Illinois is swirling the bowl. It was severely in the red before the government reaction to Covid. I haven't looked at the numbers recently, but I suspect they are within twenty four months of bankruptcy at this point. I also suspect they are hoping for a federal regime change, followed by a nice bail out package. The public pensions are protected by the Illinois Constitution, and they are wicked expensive. Plus most, if not all pensions are guaranteed a three percent increase per annum. Retire at 55, collect a pension, get another cush job for a decade, collect two pensions. If you take into consideration there are school administrators in absolute sh*t hole school districts making upwards of $300 k a year, you can see this is quite a dilemma. As of now pensions are not taxed, but that WILL be changing. I would strongly urge NOT moving to Illinois. I might consider Southern Indiana where Peter lives, or perhaps somewhere around Madison. See for reference. https://www.forbes.com/sites/adamandrzejewski/2018/06/04/the-exclusive-100000-club-meet-30000-members-at-the-illinois-teachers-retirement-system-trs/amp/ https://www.openthebooks.com/ Rick _______________________________________ http://www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
