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Old 12-18-2012, 03:13 PM
 
Location: Virginia
18,717 posts, read 27,118,688 times
Reputation: 42872

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Awww, thanks.

Actually I think I'll wait, although the thought is tempting. Late December is always a strange time on city-data so I'm not keen on starting threads now, anyway. You get bored kids on school break who are looking for mischief (or just want to play pretend they're retirees as a game). You get people who are depressed by the holidays or the relationship problems that always seem to occur right around now. And this year the recent shootings, fiscal cliff worries, and frayed nerves after a brutal election have everyone on edge. Grumpy threads do wellat this time of the year. My lighthearted threads will do much better in January.

Plus we're going out of town and I hate to start a thread if I can't be around to follow up on any questions that come up. But thanks for saying that, you made my day.
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Old 12-18-2012, 04:10 PM
 
30,033 posts, read 35,213,259 times
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Quote:
Originally Posted by Caladium View Post
Awww, thanks.

Actually I think I'll wait, although the thought is tempting. Late December is always a strange time on city-data so I'm not keen on starting threads now, anyway. You get bored kids on school break who are looking for mischief (or just want to play pretend they're retirees as a game). You get people who are depressed by the holidays or the relationship problems that always seem to occur right around now. And this year the recent shootings, fiscal cliff worries, and frayed nerves after a brutal election have everyone on edge. Grumpy threads do wellat this time of the year. My lighthearted threads will do much better in January.

Plus we're going out of town and I hate to start a thread if I can't be around to follow up on any questions that come up. But thanks for saying that, you made my day.
Not this past weekend but the previous one I was in your neck of the woods. Herndon and Maryland. Had a very interesting point made to me about continuing care retirement communities. A very nice facility has a 260K entry fee for a couple and a cost of 3K per month. With the cost for moving up in level of care being minimal and related to supplies like diapers etc etc. That entry fee sounds like a lot but as my old neighbor explained to me what it means is you sell your house and use that for the entry fee. Hmmm that works real well in your neck of the woods and is probably a good reason to not do a reverse mortgage. On another note I have new next door neighbors and they are from Herndon. I found that hilarious as the day they were moving in we were leaving for Herndon. The I95 transplant corridor is strong and alive. They are retiring down here.
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Old 12-18-2012, 05:44 PM
 
Location: Near a river
16,042 posts, read 19,161,223 times
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Quote:
Originally Posted by TuborgP View Post
Had a very interesting point made to me about continuing care retirement communities. A very nice facility has a 260K entry fee for a couple and a cost of 3K per month. With the cost for moving up in level of care being minimal and related to supplies like diapers etc etc. That entry fee sounds like a lot but as my old neighbor explained to me what it means is you sell your house and use that for the entry fee. Hmmm that works real well in your neck of the woods and is probably a good reason to not do a reverse mortgage.
Why would someone who can afford to live in a pricey CCRC even have to resort to a reverse mortgage? If you get a RM, you are in somewhat dire straits, and would not be looking at a comfy pricey place later on.

That entry fee and monthly fee are par for the course in New England.

(BTW, you can start stockpiling diapers now at Costco, will save much $ down the road )
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Old 12-18-2012, 07:11 PM
 
30,033 posts, read 35,213,259 times
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Originally Posted by newenglandgirl View Post
Why would someone who can afford to live in a pricey CCRC even have to resort to a reverse mortgage? If you get a RM, you are in somewhat dire straits, and would not be looking at a comfy pricey place later on.

That entry fee and monthly fee are par for the course in New England.

(BTW, you can start stockpiling diapers now at Costco, will save much $ down the road )
There have been many discussions on here about folks wanting to die broke and when you read some of the post in discussions about reverse mortgages and some of the the tv ads it can often be about lifestyle enhancement. Owning your home in many parts of the NE and Mid Atlantic states and other regions of the country leave you with a ton of home equity independent of your other income strands. In the DC area you have a ton of folks who have a lot of home equity and SS/pensions that would enable them to afford a continuing care facility monthly payment but not a nursing home monthly payment if going directly there. Once you pay the entry fee and your for life pension and SS covers the monthly payment it leaves you with carefree long term care and probably a tidy sum left over to live comfortably with and in an enhanced life style. Give up your home equity at age 67 and it can be another story down the road with nursing and assisted living cost being what they are. The facilities model I am referencing is based on your entering independent living first and then moving up in care as needed.
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Old 12-18-2012, 07:55 PM
Status: "Support the Mining Law of 1872" (set 15 days ago)
 
Location: Cody, WY
9,658 posts, read 11,115,133 times
Reputation: 19436
P eople get reverse mortgages so that they can eat that tasty cake while they have it as well. Gold is a great investment right now. The upside is unlimited and will remain so while Obama and Bernanke carry forth. Protecting profits, assuming one bought physicals, is child's play with puts. Sure, it's common to get nickle-dimed with the options, but big pops always seem to come along.
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Old 12-21-2012, 04:39 AM
 
Location: Floyd Co, VA
3,423 posts, read 5,205,973 times
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"Twas eight years ago today that I finally had had enough of a toxic job and told my boss he could do the annual physical inventory by himself and I walked off the job and started my retirement.

Leaving almost a year earlier than I'd planned proved to be a great thing because I started getting my old house ready for sale and sold it exactly the month that the housing market peaked in my area. Had I stayed on the job the market bubble would have already busted by the time I left my job and I might have been stuck there or gotten a lot less money than I did.

I love living in Floyd and found the almost perfect house for me and have no regrets about leaving early.

We've got a light snow falling here but it's not likely to stick around for long.
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Old 12-26-2012, 07:14 AM
 
30,033 posts, read 35,213,259 times
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Day after snow in northern Virginia
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Old 12-26-2012, 08:11 AM
 
Location: Virginia
18,717 posts, read 27,118,688 times
Reputation: 42872
The snow is pretty out this morning, that's for sure. I took a photo of cardinals at the feeder while it was snowing--it's fresh and so appealing when you're inside looking at a photo. I'm glad I'm not driving very far today, though. We're meeting up with some friends in McLean and that's as far as I feel like driving on the day after Christmas.

What part of Herndon are you visiting, Tuborg? If you're in the historic section that must be very pretty in the snow. If you guys are looking for something to do today, I recommend visiting one of the wineries. Sunset Hills, for example, is a very pretty place in the snow and probably a 30 minute drive at most from Herndon.
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Old 12-26-2012, 08:19 AM
 
30,033 posts, read 35,213,259 times
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Off of Centerville Rd close to the toll rd. son and dil are wine enthusiast and have been to a number of local wineries
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Old 12-26-2012, 09:35 AM
 
Location: Floyd Co, VA
3,423 posts, read 5,205,973 times
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Sleet and ice earlier, now seems to be more snowlike. I can see the main east/west route and the few vehicles moving , mostly farm trucks loaded with hay, are going very slowly so the roads must be very bad.

Despite their fur coats the dogs are "What, you want me to go out in THAT? NO WAY. Not gonna happen." Two of the six did brave stepping off the covered back deck and in to the yard, the others all just went on the deck.

I got all the water jugs filled since the lights are flickering and we might loose power. The magnolia in the side yard is heavily weighed down with ice, no broken limbs yet but I don't know if it will happen as the snow accumulates. the kindle is charged up and I've got a nice fire going. I've got a big new book to read, Betrayal of Trust by Laurie Garrett and if it's as good as The Coming Plague I'll be set for many hours.

Think I'll go make a fresh pot of coffee and put it in the thermos to keep hot even if the power goes out. Glad I got caught up on the laundry over the past couple of days.

I hope all in the path of this storm manage to stay safe and warm.
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