[RecentlyRetired]

It's been a little over a year since I retired at the age of 66. I never thought it would be possible, but I managed to purchase a home (mortgage free), pay off my car, and now live debt free while being able to put aside $1,000 per month into savings.

Perhaps there are other seniors out there who could benefit from my experience.

When I retired, I cashed in my 401K (I only had about $48,000 after taxes). I found a mobile home in a Senior park located in Spring Valley on the corner of Jones and Harmon. I paid $35,000 for the 1,200 square foot double wide. It has three large bedrooms (2 of which hold king sized beds with room to spare). I set up the third bedroom as a den. There are also two full baths. The master is very spacious with double sinks, a separate shower and large soaking tub. The kitchen is small, but good enough for me and my spouse. It opens up to the dinning area and living room. The living room has two large bay windows. There is also a laundry room. The washer and dryer and all major appliances including microwave came with the purchase price of the home. A covered deck runs the length of the house on one side, and a car port runs the length of the other.

I used the rest of my 401K money to pay off my car.

There are 50+ age and income restrictions for living here. Combined annual family income for residents can not exceed $31,800 and monthly income must be at least $800. My spouse does not work. Also, you must have been a Nevada resident for at least the past 6 months. You are allowed up to two pets. There is no size limit for dogs, but certain breeds like pit bulls are not allowed.

The community has about 465 homes, a few of which are generally available for sale. My monthly income from social security is $2,200. The monthly lot rental is $235 which includes basic cable, water, sewer and trash pickup. My home insurance is $120/yr. My only other monthly expenses are for food, clothing, entertainment, gas, electric, phone, internet, and auto insurance which leaves me with a little over $1,000 per month to put aside into savings for future repairs and travel. The community takes care of weed control and tree trimming at no added expense for the residents.

I never dreamed that I would find such a wonderful senior community complete with Club house activities including 24 hour use of the pool and spa in the heart of Las Vegas. It's a safe, quiet, gated community located in a convenient area of town close to everything.

If you are thinking as I did that you might not be able to afford to retire before age 70, you might want to look into this type of a community. I'm so glad I did. It truly is possible to live a wonderful life in Vegas on a fixed income!

[Linda_d]

Originally Posted by RecentlyRetired

It's been a little over a year since I retired at the age of 66. I never thought it would be possible, but I managed to purchase a home (mortgage free), pay off my car, and now live debt free while being able to put aside $1,000 per month into savings.

Perhaps there are other seniors out there who could benefit from my experience.

When I retired, I cashed in my 401K (I only had about $48,000 after taxes). I found a mobile home in a Senior park located in Spring Valley on the corner of Jones and Harmon. I paid $35,000 for the 1,200 square foot double wide. It has three large bedrooms (2 of which hold king sized beds with room to spare). I set up the third bedroom as a den. There are also two full baths. The master is very spacious with double sinks, a separate shower and large soaking tub. The kitchen is small, but good enough for me and my spouse. It opens up to the dinning area and living room. The living room has two large bay windows. There is also a laundry room. The washer and dryer and all major appliances including microwave came with the purchase price of the home. A covered deck runs the length of the house on one side, and a car port runs the length of the other.

I used the rest of my 401K money to pay off my car.

There are 50+ age and income restrictions for living here. Combined annual family income for residents can not exceed $31,800 and monthly income must be at least $800. My spouse does not work. Also, you must have been a Nevada resident for at least the past 6 months. You are allowed up to two pets. There is no size limit for dogs, but certain breeds like pit bulls are not allowed.

The community has about 465 homes, a few of which are generally available for sale. My monthly income from social security is $2,200. The monthly lot rental is $235 which includes basic cable, water, sewer and trash pickup. My home insurance is $120/yr. My only other monthly expenses are for food, clothing, entertainment, gas, electric, phone, internet, and auto insurance which leaves me with a little over $1,000 per month to put aside into savings for future repairs and travel. The community takes care of weed control and tree trimming at no added expense for the residents.

I never dreamed that I would find such a wonderful senior community complete with Club house activities including 24 hour use of the pool and spa in the heart of Las Vegas. It's a safe, quiet, gated community located in a convenient area of town close to everything.

If you are thinking as I did that you might not be able to afford to retire before age 70, you might want to look into this type of a community. I'm so glad I did. It truly is possible to live a wonderful life in Vegas on a fixed income!

Is this a resident-owned/operated mobile home park or a HUD regulated cooperative? It sounds like it might be. There's one in my area, and it's 1000% nicer experience than living in a regular MH community.

[JustMike77]

Sounds nice, congratulations.

[BBMW]

Recently,

Do you own the land under your trailer? If not, who does? And are they in a position to sell it out from under you?

[observer53]

Originally Posted by BBMW

Recently,

Do you own the land under your trailer? If not, who does? And are they in a position to sell it out from under you?

Since she's paying "lot rental" sounds like she doesn't own the land under the trailer. But according to this article, http://lasvegassun.com/news/2005/nov...ring-problems/ it's on land that's the subject of a 99 year lease from BLM.

[curious66]

What is the name of your mobile home park? I tried finding a mobile home park in Spring valley and could not locate one.
Thank you

[OmegaSupreme]

Originally Posted by curious66

What is the name of your mobile home park? I tried finding a mobile home park in Spring valley and could not locate one.
Thank you

They're everywhere.. lots of them near Charlie Frias Park for example

[Cold Warrior]

No money allocated for healthcare?