Low income senior housing and inheritance (social security, 2013, relative, separate)
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Where in Nevada are rents crazy high? I mean aside from a luxury high rise near The Strip or in Incline Village? People move to Nevada because the rent is low.
Well, it depends on who you are and how you want to live. Rents are low if you want to live in a not so great area or if that's what you can afford. Otherwise, I'd hardly say rents are low compared to other parts of the country but yes they are low compared to rents in CA.
Vegas has a dismal crime rate with 158 murders, almost 9000 vehicle thefts, and 12,500 burglaries last year. You really need to be careful where you live.
Last edited by marino760; 05-26-2018 at 08:24 AM..
Well, it depends on who you are and how you want to live. Rents are low if you want to live in a not so great area or if that's what you can afford. Otherwise, I'd hardly say rents are low compared to other parts of the country but yes they are low compared to rents in CA.
Vegas has a dismal crime rate with 158 murders, almost 9000 vehicle thefts, and 12,500 burglaries last year. You really need to be careful where you live.
First, Las Vegas isn't Nevada.
Second, the crime rates in Clark County have been going down for years. Clark County is the population center of Nevada and home to its two largest cities - Las Vegas and Henderson. The two cities are basically one big area. For cities above 200,000 Henderson is and has been in the top ten safest cities for years.
Remember, much of the reported crime -- particularly violent crime -- happens on or very near The Strip, perpetrated by tourists on tourists. Out in the 'burbs it is much like any 'burb anywhere in the country except the grocery stores have slot machines in them.
At any rate there is very inexpensive rent and an inexpensive COL in many places, including Elko, Laughlin, Pahrump, Winnemucca, Ely, Minden, Fallon, Fernley, Yerington, West Wendover, Amargosa Valley, Tonopah, Goldfield, etc etc etc.
At any rate there is very inexpensive rent and an inexpensive COL in many places, including Elko, Laughlin, Pahrump, Winnemucca, Ely, Minden, Fallon, Fernley, Yerington, West Wendover, Amargosa Valley, Tonopah, Goldfield, etc etc etc.
While I agree with most of your post, Elko is not a low cost rent place, especially during periods of high activity in the mining industry. In addition, one of the problems in retiring to rural Nevada is that a lot of your non-housing costs - medical, food, etc. - are significantly higher. There is a small hospital in Elko BUT ... for many specialists, you are heading to a facility in Salt Lake City.
Am I the only one bothered by the fact that a person can have an income of $60,000 and get subsidized housing?
Dang, after living on nothing, and trying to make it stretch for so long I know for a fact that I could make $60,000 a yr income (after taxes?) do circus tricks . Seriously, save 70% of it till I had enough to pay cash for a modest little home in a quiet neighborhood in an unfashionable area. And fix it up pretty as I saved for it. $60,000 is alot of money to me, and so many seem to take it for granted, sigh.
he needs to figure out the inheritance first......
no reason to get amped up over 10K or even 50K
I have a friend that is already mentally spending his 6-8mm inheritance (his estimate). The glitch, his mom is in way better health than he is and she is only 16 yrs older than him!
I attempted to reason that the 6-8mm is very very unrealistic as she had a great job but never made more than about 200K a year. Even working 30 yrs at 200K is only a gross of 6mm and she didn't make that money every year, she certainly couldn't have saved all of it (taxes, living expenses) and she wasn't an angel investor in Facebook......so if she has 20% of his "estimate" I would be stunned. He wanted no part of the explanation, he is sticking with the 6-8mm guesstimate.
Your friends obsession with his inheritance is disturbing.
I agree there's no reason to get overheated over it just yet. He hasn't gotten it yet. And he doesn't know how much he will get.
He should, in the meantime, study the paperwork he should have gotten when he applied.
If it goes by assets, he could be in trouble if he gets a fairly high amount. If that happens, he might be able to find out if he can stay, and pay a "Fair Market Value" for the unit instead. Eventually he may run out if the inheritance money, and be back to the normal qualifiers.
If its a high amount, he could probably live for years at FMV then. 1+ m can last if well planned well, and invested well.
If it's based on income, and even if he gets a handsome sum, if he keeps it in cash in the banks, it won't generate a lot of interest income to add to his income. If he invests it, it could.
And yes, as someone said, it bothers me, too, that people get govt subsidies when they habe high assets, but structure it for low income. I have SSDI, work part time, my other half works two jobs and we are no where near wealthy by any means, especially since we've really only had about 12 years of 18 together to build any wealth. I was coming off welfare and onto SSDI then, and my OH had just come out of bankruptcy. Our biggest asset is still basically our house, which we half own in just 2.5 years.
We make $35k in a good year with our 4 incomes, and still don't qualify for any govt handouts. My health insurances cost us $450 / month, and my OH is cheaper only due to nys help, that doesnt always qualify. We will be in trouble nect year with it, and it carries very high oop cists before it kicks in ($10k). Fortunately, unlike me, my OH is fairly healthy. So the cost for my OH s, averaged out is about $1k a month if, my OH were, say, to need a major surgery and we were stuck paying the whole bill before the insurance woukd pay anything. It will all depend on how much out of pocket we do pay for what my OH may need. So, yeah it bothers me, but I'm not really bitter, more like jaw dropping disbelief tgey can have 1+m in assets and get totally subsidized and have income comparable to our $35k a year, 3/4 of which is earned. Just Makes no sense.
So, OP, TELL your friend to quietly research what the requirements are, and what will happen BEFORE he panics and gets distressed. Also, does he have any idea what assets the bequeather of inheritance had? May be it's not so much, and if split with others, his portion will further dwindle.
Good luck to you and him.
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. Seriously, save 70% of it till I had enough to pay cash for a modest little home in a quiet neighborhood in an unfashionable area. And fix it up pretty as I saved for it. $60,000 is alot of money to me, and so many seem to take it for granted, sigh.
