<p>46% of Americans have less than $10,000 saved for retirement. (Employment Benefit Research Institute)
40% of baby boomers now plan to work until they die. (AARP)
36% of Americans say they don’t contribute anything at all to their savings. [CNBC]
87% of adults say they are not confident about having money for a comfortable retirement. (Lifehappens.org)
Expected retirement age is up to 67 from age 63. (Zero Hedge)</p>
<p>so, yes, it would be very difficult for most retirees to pay $10k per year in property taxes I suspect that those who are doing so, either have high retirement incomes (maybe the combination of two good retirement pensions) or have unusually high income from investments.</p>
<p>Since many working baby-boomers do not have pensions, when they do retire they wont likely be able to afford living in places with 5 figure property taxes.</p>
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^And yet the place I bought a home to retire in, in NJ, is surrounded by homes owned by…retirees. Middleclass ones. So I disagree with that “rarely.”
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<p>@garland </p>
<p>how much are these homes, how much are their property taxes, and how much are these folks’ retirement incomes?</p>