• Monthly taxes: $1,333
Savings: Over $1,000 a month ($12k/yr) Twenty year savings: over $240k
This family used the savings for:
• Retirement contributions • Yearly vacations • Home upgrades
Their financial life took a astonishing upward turn.
Scenario 4: Montclair to Mahwah
Current situation:
• Taxes: $30k • Home value: $1.1M • Monthly taxes: $2,500
New situation:
• Taxes: $12k • Home value: $1M • Monthly taxes: $1,000
Savings: $1,500 per month ($18k/yr) Ten year savings: $180k
They chose to buy a nearly new construction home in Mahwah with modern layouts, updated systems, a large backyard, and lower overall stress. And they were able to redirect their extra savings into long term investments.
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