Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Yes, keep on truck'n (and checking off the bucket list).
But, be aware that moving gets harder as you age, it is probable that something can come along and zap your 'active status' (happened to my dad @ age 49). My mom was still moving and remodeling into her late 70's and early 80's, BUT.... health restrictions and unplanned catastrophes tend to complicate the ability to pack up and move. (Stuff I have witnessed in senior friends... strokes, heart restrictions, amputations, rapid onset of ALS or Parkinsons, mental capacity bleeped ...)
Just have a plan B and C, and have it DRAFTED / Written out and conveyed to someone who can execute it. (my uncle went in for simple elective surgery @ age 59, and came home fully dependent / paralyzed.) He had a whole property full of projects (antique cars / equipment / remodeling / garden / forest / animals...). Now 10+ yrs later those projects still sit, as they will forever (during his remaining life).
Stuff happens, don't let it control / limit your activities, BUT... realize that building your dream house in a remote rural paradise, may not be where you will 'drop-dead'. (hopefully yes, potentially not). Someone may need to come in and pick up the pieces (which may include a disabled you).
The 'ideal place' is a bit allusive, and will change with the seasons. As previously mentioned, I think it is a good idea to have a 'long-term' abode planned by age 80, and probably executed by age 85. *(YMMV)
From what I've seen of enticing places to grow old (er) and be in a caring environment. I will target a senior housing co-op, as a potential 'last (ideal) place'. These certainly don't work for all. I would like a 'homestead' version (small rural town), city dwellers may prefer something along the lines of 7500 York. (they just added an 'aging / memory care facility). They are on their 3rd generation of members (shares being transferred from parent to child)... I only WISH my folks had considered this... I feel it would have been a benefit to all of family (not just me in 10-40 yrs).
I want to go out of this life " exhausted" , just like the United Health Care motorcycle rider on the TV ad.... Look, my point is, all of us do not know how much time is left. My best friend turns 65 this month. Was riding high, divorced third wife, 2 kids don't care really, and has more cars to keep him busy forever in the hobby.... Yet, he last year had a stroke, now in an assisted living place, with no one who cares much.....very sad. He has become so irrational I can't bear to talk to him ether.
I am 70, still in shock, thinking about divorce myself. No kids or family left, all dead. Just finished my retirement home, but had to sell all my hobby cars to do it......Nothing last forever, even those who think we are bullet proof , like my old best friend.
I'm a native Californian and the tax situation here makes it highly desirable to retire out of state.
For years I wanted to retire to Vermont, Colorado or Montana. I spent a lot of time in each state, including portions of the winters.
Conclusion? I don't care how sinfully expensive California is, I'm staying put in retirement. I would rather live more modestly in CA than freeze my ass off in the winter in brutally cold Montana. And the real estate prices in Montana are higehr than even California, even with the dreadful winter weather.
The cost to buy into many of these communities is $100,000 to $200,000. Way too expensive for my budget.
I recently talked to the director of one of the low-cost non profit communities. Their advertising suggests that you will be taken care of even if your money runs out. The director explained that is what they intend to do, but there are no guarantees. They accept medicaid for nursing home care and depend on donations to offset costs.
I recently received a letter from them asking for donations so that they could continue to care for those with no assets. The letter stated that donations had fallen off dramatically because of the economy and no telling what cuts there will be to medicaid in the future.
If the need should arise, I wouldn't depend on these communities to take care of you if your money runs out.
The cost to buy into many of these communities is $100,000 to $200,000. Way too expensive for my budget.
I recently talked to the director of one of the low-cost non profit communities. Their advertising suggests that you will be taken care of even if your money runs out. The director explained that is what they intend to do, but there are no guarantees. They accept medicaid for nursing home care and depend on donations to offset costs.
I recently received a letter from them asking for donations so that they could continue to care for those with no assets. The letter stated that donations had fallen off dramatically because of the economy and no telling what cuts there will be to medicaid in the future.
If the need should arise, I wouldn't depend on these communities to take care of you if your money runs out.
SC, what post are you responding to? What kind of communities are you referring to?
The cost to buy into many of these communities is $100,000 to $200,000. Way too expensive for my budget.
I recently talked to the director of one of the low-cost non profit communities. Their advertising suggests that you will be taken care of even if your money runs out. The director explained that is what they intend to do, but there are no guarantees. They accept medicaid for nursing home care and depend on donations to offset costs.
I recently received a letter from them asking for donations so that they could continue to care for those with no assets. The letter stated that donations had fallen off dramatically because of the economy and no telling what cuts there will be to medicaid in the future.
If the need should arise, I wouldn't depend on these communities to take care of you if your money runs out.
Extended care makes 200,000 look like small potatoes ! I know, My wife's mother is in one, 3,000.00 a month and that's in Chicago area. great care at 91 years, no way could I afford that !
I'm a native Californian and the tax situation here makes it highly desirable to retire out of state.
For years I wanted to retire to Vermont, Colorado or Montana. I spent a lot of time in each state, including portions of the winters.
Conclusion? I don't care how sinfully expensive California is, I'm staying put in retirement. I would rather live more modestly in CA than freeze my ass off in the winter in brutally cold Montana. And the real estate prices in Montana are higehr than even California, even with the dreadful winter weather.
There are some sweet places in Montana and Idaho, I could live in....way too expensive however like Sun Valley and NW Montana. There are still a lot of land out west, and its way cheaper than Urban California hands down! Remember the oranges and apple thing...
Extended care makes 200,000 look like small potatoes ! I know, My wife's mother is in one, 3,000.00 a month and that's in Chicago area. great care at 91 years, no way could I afford that !
$3,000 per month means $36,000 per year. Sounds extremely reasonable to me, so reasonable I'm wondering if you made a typo. I didn't know extended care could be so dirt cheap. Are you talking about a facility in which your wife's mother lives and which provides all her meals in addition to help with showering and so forth? Perhaps I have the wrong idea about what is provided, because it just couldn't be that cheap. No way.
Extended care makes 200,000 look like small potatoes ! I know, My wife's mother is in one, 3,000.00 a month and that's in Chicago area. great care at 91 years, no way could I afford that !
My mother is in assisted living in Wisconsin - $5400 a month.
My sister's MIL is in assisted living in California - $6500 a month.
SC, what post are you responding to? What kind of communities are you referring to?
I wrote in the title of my post continuing care communities. Catsy Girl mentioned continuing care communities in her post #245. My post was not a response to her. I just wanted to pass on information that I received from communication with one such facility.
$3,000 per month means $36,000 per year. Sounds extremely reasonable to me, so reasonable I'm wondering if you made a typo. I didn't know extended care could be so dirt cheap. Are you talking about a facility in which your wife's mother lives and which provides all her meals in addition to help with showering and so forth? Perhaps I have the wrong idea about what is provided, because it just couldn't be that cheap. No way.
She may have paid that hefty fee of 6 digits (buy in fee) in addition to the $3,000 per month.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.