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Old 01-19-2017, 10:50 PM
 
4,315 posts, read 2,534,302 times
Reputation: 7686

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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.

first off,with just SS..........move to a lower COL.


$8,000 a year property tax?


My property tax + 3 vehicle licenses, plus an assessed property tax on vehicles= $632 a year TOTAL.


When I researched retirement relocation I had 3 criteria.......


Low cost of housing/property tax
Milder weather
Scenic area.


I got all three !


Being totally debt free and with our house paid off the wife and I do just fine on just our SS checks.


In your case, moving to a lower cost of living isn't an option.
It's a necessity !
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Old 01-19-2017, 11:47 PM
 
Location: Scottsdale, AZ
7,738 posts, read 4,758,012 times
Reputation: 28372
In another thread, the OP asks about moving to Europe to retire, figuring that between their pensions and SS they'll have $60k/year to live on.
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Old 01-20-2017, 04:56 AM
 
18,461 posts, read 20,242,301 times
Reputation: 27036
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.
First of all you both need to get into a pay/kill debt lifestyle. You don't want a mortgage in retirement if you don't have the means to support it. So that may mean doing a reverse mortgage or liquidating the property and buying something smaller cash in another state.

You simply did not save enough money in your lifetime. For whatever reason. You didn't make enough or simply spent it all. Regardless it's now inconsequential why or how because you are in the shape you are in. So you need to get rid of all your debt and start saving ANYTHING you can.

If your husband dies you can apply and get part of his SS maybe all of it if he makes more. Talk to a retirement guy they know the way around that.

Either way if your situation is as it is and you do not have anyone to help you, it's going to get really tough when you hit your 70s or early 80s. Depending on your health. I know a guy who is 84 married to a 65 yo and golfs jogs etc. Because in your late 70 early 80s that's when you require more care. I have a few relatives that went into retirement homes. The cost runs anywhere from 2k starting and includes a few things. Everything else is a-la-carte. The average for both was 3k a month.
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Old 01-20-2017, 05:51 AM
 
5,482 posts, read 2,364,601 times
Reputation: 15142
Quote:
Originally Posted by fluffythewondercat View Post
In another thread, the OP asks about moving to Europe to retire, figuring that between their pensions and SS they'll have $60k/year to live on.
Lol.

Must be Plan B as "we have no family to rely on". Since when are family members responsible for you?


Was this in another thread somewhere?

"I'm also estranged from my sister (she had an affair with my ex- who wasn't at the time and she testified against me in court)"

Sounds sooo familiar...
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Old 01-20-2017, 07:02 AM
 
662 posts, read 480,981 times
Reputation: 1690
Quote:
Originally Posted by fluffythewondercat View Post
In another thread, the OP asks about moving to Europe to retire, figuring that between their pensions and SS they'll have $60k/year to live on.
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Old 01-20-2017, 07:28 AM
 
Location: Tennessee
23,651 posts, read 17,632,423 times
Reputation: 27754
If I remember correctly from previous threads, the OP is in NY state. There is a long running thread on the real estate forum about a home trying to sell in a very slow market in Fishkill, NY. The house in that thread needs a lot of updates, but the price has been cut from $325k to roughly $275k in the three or so months it's been on the market, and it's still not moving. There may be all sorts of contingencies on the OP in this thread selling her home.

This is partly an income problem and partly a state issue. That $8,000 you pay in property taxes is being paid out of your after tax income, whatever that number is. Where I am in Tennessee, the taxes on a $100,000 home (inexpensive, but there are decent homes for this in my area) run $500-$700/year. There is no state income tax. Homeowner's insurance is relatively inexpensive. Vehicles are $31 to register in my county for any vehicle. The cost of living, particularly in property taxes which impacts seniors on a fixed budget, is low. Yes, the economy in most of Tennessee sucks, but if you're retired or only need low end/part-time work, it can be a decent fit.

If you're only netting $1,700/month, you may need to take a second job. That's not a lot of income, especially by NY standards. If you're grossing $1,700/month, I don't even want to think about it. Ultimately, those property taxes are a huge pig on your back for what seems like a lower to middle income couple.
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Old 01-20-2017, 07:41 AM
 
Location: SoCal
13,307 posts, read 6,375,629 times
Reputation: 9942
Wait people lie?
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Old 01-20-2017, 08:51 AM
 
Location: Lakewood OH
21,698 posts, read 23,696,516 times
Reputation: 35450
I cannot give any advice about property because I have no expertise in that area but I can offer this as a guide to what to do in the event of a death. I am ordering this book and will let my sisters, one in Toronto, one in LA, know it's whereabouts in my apartment.

There are many books one can buy that has this format but I liked the title of this one.

https://www.amazon.com/Important-Inf.../dp/1441317996
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Old 01-20-2017, 09:45 AM
 
Location: Wasilla, AK
7,301 posts, read 4,171,218 times
Reputation: 15836
Quote:
Originally Posted by fluffythewondercat View Post
In another thread, the OP asks about moving to Europe to retire, figuring that between their pensions and SS they'll have $60k/year to live on.

OP has posted numerous times about locations they were considering. Nevada is one that comes to mind. There were others.
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Old 01-20-2017, 10:45 AM
 
Location: Scottsdale, AZ
7,738 posts, read 4,758,012 times
Reputation: 28372
Quote:
Originally Posted by AlaskaErik View Post
OP has posted numerous times about locations they were considering. Nevada is one that comes to mind. There were others.
Yes, that's true. I've even seen a thread very similar to this posted before.

It's unclear to me the issue is monetary in nature even though on the surface it seems so.
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