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Old 01-19-2017, 02:15 PM
 
249 posts, read 197,116 times
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If you have no assets and low income, can you look into a senior lwo income apartment? Obviously you know own your home, but I'm wondering if you'd be better off planning a move into low income housing, that way you'd both/each be secure regardless of who dies first.

What if you DH can't work tomorrow?

You say you didn't make wise choices, okay, start today to do the best choices you can in your current circumstances. Today is still better than never.
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Old 01-19-2017, 02:18 PM
 
844 posts, read 747,079 times
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Quote:
Originally Posted by crusinsusan View Post
You have the answer right there.

A lower COL area will mean taxes could be under $1k and I'm guessing no mortgage if you buy a small home with the proceeds of your sale. Then you both keep working and your financial situation will improve greatly. Even if you work at wally world for $9-10 an hour each, that's ~$37k (less taxes) combined (assuming full time work). And no mortgage. Yearly taxes earned in about a week and a half.

Sometimes you have to pay the piper to make your life better.

As for caretaking, I don't have an answer on that one.

We are not looking to make a big profit on selling our home. But if we do not get a small profit we have no money to move.


The problem is even getting ppl TO the house. Since June 2016, we had 1 person look.


Hubbie still works and commutes 110 miles R/T 5 days a week. We moved as far away from work as possible to keeps housing costs down.


There is a lot going on with us from being conned from someone we know to a failed business we tried-which is why I quit my job to start with. Then I got severely ill, but I'm doing better now. At 64, I'm reapplying for my old job, and also any professional job that I can tolerate, due to chronic pain. We are not stupid ppl. Everything we do just turns sour even after we research stuff for months and getting advice from professionals (such as our business).
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Old 01-19-2017, 02:54 PM
 
Location: Central Mexico and Central Florida
7,101 posts, read 3,461,680 times
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Quote:
Originally Posted by countrykaren View Post
We are not looking to make a big profit on selling our home. But if we do not get a small profit we have no money to move.


The problem is even getting ppl TO the house. Since June 2016, we had 1 person look.


Hubbie still works and commutes 110 miles R/T 5 days a week. We moved as far away from work as possible to keeps housing costs down.


There is a lot going on with us from being conned from someone we know to a failed business we tried-which is why I quit my job to start with. Then I got severely ill, but I'm doing better now. At 64, I'm reapplying for my old job, and also any professional job that I can tolerate, due to chronic pain. We are not stupid ppl. Everything we do just turns sour even after we research stuff for months and getting advice from professionals (such as our business).
The real estate market is/has been pretty good the past year or more. It sounds like your house is not realistically priced. It's costing you an awful lot to carry this place (mtg. plus 8K taxes per year, not to mention insurance, etc.). Time to figure out WHY it's not selling...usually it's price.
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Old 01-19-2017, 03:00 PM
 
2,443 posts, read 2,071,602 times
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Quote:
Originally Posted by brava4 View Post
Prepare for someone to tell you you didn't make wise choices. It's a classic response on this forum.
Isn't that the truth!
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Old 01-19-2017, 03:24 PM
 
844 posts, read 747,079 times
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Quote:
Originally Posted by dothetwist View Post
The real estate market is/has been pretty good the past year or more. It sounds like your house is not realistically priced. It's costing you an awful lot to carry this place (mtg. plus 8K taxes per year, not to mention insurance, etc.). Time to figure out WHY it's not selling...usually it's price.
It's priced within range of similar places, maybe even a little less. We have a real estate agent and we lowered the price 3 times.
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Old 01-19-2017, 03:25 PM
 
Location: Southwest Washington State
21,868 posts, read 14,377,315 times
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Quote:
Originally Posted by countrykaren View Post
I'm not even sure if this is where I should post this question, but I think about this all the time.


We are in our 60's. We are estranged from my 2 adult children, Hubbie has no children, and there are no neices or nephews. Neither of us will have ANY family to rely upon. There are very few friends that we see only occassionally- most are friendly co-workers, plus they are our age or older and will be in the same boat as us some day.


There is no money to pre-arrange a funeral, or for long term care insurance, or an estate lawyer, etc. We pay bills and that's our life. We want to sell and find someplace smaller and cheaper but can't sell. Houses are just not moving, unless we sell way less than what we paid. We know of some agents that are looking for other jobs.


Luckily we are reasonably healthy, with no chronic illnesses other than Hubbie's high blood pressure (he takes meds), but who knows how long that will last. Neither one of us has any life insurance, so if Hubbie dies in a car accident, etc, I have virtually no income and will have no where to go. (We pay $8K in property taxes alone, plus $1100/ month mortgage, and so my $1700/ month won't get too far)


If I die first, at least for now, he still works. Hubbie says he will die at his desk because we can't afford to have him retire.


How did this happen? We worked all our lives- even 2 or 3 jobs (each of us), 7 days a week until 16 years ago. We did not, and still do not, live a fancy life- still no cell phones, no TV, 10 or 15 yr old cars, no vacations ever, no jewerly (even engagment and wedding rings), no fancy clothes (I shop only when needed in thrift stores/ yard sales, etc), etc. We always worked to LIVE. Never had the opportunity to save. Our whole lives was to live month to month.


I guess we will be one of these couples that ppl find decomposing months after we are dead. I just hope we both die fast, and not fall, etc and lie on the floor for days until we die. Or my worst fear is that we will die, and no one will discover us and our dogs will slowly starve to death.


I'm just so depressed.
If you have worked all your life, surely you qualify for Social Security? If you are paying $8,000 a year in property taxes, I think you need to move to a less expensive place. Is there a way for you to work? Or you could find a part time job? But it seems to me that you cannot afford to live where you do now. So, you need to figure out how to decrease your tax expense, and gain some more income.
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Old 01-19-2017, 03:30 PM
 
Location: Miraflores
786 posts, read 893,939 times
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My wife is 30 years younger and I have three kids 2,12,26. So, I guess they will all take turns or we can make the nanny for my two year old into a nanny for me.
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Old 01-19-2017, 03:44 PM
 
662 posts, read 478,206 times
Reputation: 1690
Quote:
Originally Posted by countrykaren View Post
....Hubbie still works and commutes 110 miles R/T 5 days a week. We moved as far away from work as possible to keeps housing costs down.


There is a lot going on with us from being conned from someone we know to a failed business we tried-which is why I quit my job to start with. Then I got severely ill, but I'm doing better now. At 64, I'm reapplying for my old job, and also any professional job that I can tolerate, due to chronic pain. We are not stupid ppl. Everything we do just turns sour even after we research stuff for months and getting advice from professionals (such as our business).
Wow. That's a lonnnng commute. And I have personal experience with being conned - mostly from contractors.

I hope you health improves and you get the job.
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Old 01-19-2017, 03:51 PM
 
8,121 posts, read 8,626,706 times
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Quote:
Originally Posted by jasperhobbs View Post
Isn't that the truth!

Yup. You shoulda, coulda, oughta.
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Old 01-19-2017, 04:03 PM
 
Location: Eastern Oregon
983 posts, read 761,577 times
Reputation: 1859
We do not have children.

We will be okay financially. No worries there.

But we also talk about who will look out for us - who will we appoint as Financial Power of Attorney, who will be in charge of our medical concerns, who will we ask to be Executor. We don't know at this point. But we are hoping to move to a faith centered retirement community when we start to get elderly. There we will be surrounded by people who share our faith and who, we believe, we could trust to look out for us - to not "pull the plug" so that they could gain from our estate.

I like the idea of the open curtains to signal that you are okay. Many retirement homes do something similar, and it seems to work well.

On a somewhat related note, I have asked dh to make a list of *every* account that we have - bank accounts, retirement funds, utilities - every single financial connection that we have. He has included passwords, the answers to the "secret questions" - every bit of information that would be necessary to handle our financial affairs. He has printed off that list and hidden it in our house (I know where it is, but thieves would not). At least twice a year he verifies/updates the information. This is important since he is the one that normally handles those matters; if something were to happen to him, I would need to be able to access those accounts...and in a crisis, a hard copy would be easier to find and use than a computer file (although that information is in a file on his laptop).
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