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Old 04-27-2009, 02:17 PM
 
Location: Cleveland Heights OH
13,596 posts, read 10,666,963 times
Reputation: 13250

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Quote:
Originally Posted by gardener34 View Post
"I am one of those who will have to work until I die. " Yes I think there are many of those due to our culture of the mass layoffs - but the thing I am questioning - is that will I be able to work til I die? Most people will not be hired because they are deemed too old (70+) or they will be unable to work because of age related disabilities.

Very sad.
Very good point and one I am familiar with. I think in the future there will be less age discrimination as the baby boomers (I hate that term) find themselves seeking work retire due to present economic circumstances when they thought they could retire.

AARP has a list of companies that are kind to Seniors and actively recruite them. But it's all a matter of being healthy enough to work. That's the fly in the ointment. Poor health means poor person in the USA.
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Old 04-28-2009, 11:35 AM
 
Location: In the woods next to the ocean
4,038 posts, read 8,610,901 times
Reputation: 6213
Default What do poor people do when they get old?

Poor people continue getting older, and usually poorer.
Then they die.

Rich people continue getting older, and usually richer.
Then they die.
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Old 04-28-2009, 06:07 PM
Status: "I LOOOVE COLORS" (set 5 days ago)
 
30,117 posts, read 27,192,451 times
Reputation: 17564
but the one who dies with the most toys....well he still dies too ha ha ha
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Old 04-29-2009, 06:59 PM
 
23,901 posts, read 19,942,340 times
Reputation: 5891
Quote:
Originally Posted by Fat Freddy View Post
Poor people continue getting older, and usually poorer.
Then they die.

Rich people continue getting older, and usually richer.
Then they die.
Yup retirement is a stage of employment or absence of. Poverty is a state of financial condition. Certainly very few if any find escape from poverty as a result of retirement.
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Old 05-01-2009, 11:29 PM
 
Location: Sacramento, CA, USA
84 posts, read 136,378 times
Reputation: 52
Default Hypothetical

Quote:
Originally Posted by TuborgP View Post
This thread highlights one of the points so often missing from discussions about whether to rent or buy when it comes to a home. Renting assures a monthly cost into old age. Buying if done smart and planned appropriately enables you to retire without monthly housing costs. There is nothing better for retirement planning than owning your home outright.
Very logical argument except for one thing: Who buys the home to begin with?

(This is a rhetorical question. Never take home ownerships for granted.)
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Old 05-02-2009, 02:49 AM
 
Location: In the Heartland of Hooterville!
24 posts, read 44,463 times
Reputation: 14
Home Ownership is great while your still young enough to take care of things and some what of a handyman/jack-of-all-trades....but my mom and I used to discuss/debate this very thing (and yes we are both land/homeowners) BUT, with the cost of upkeep-repairs on anything that breaks down or just stops working, updating with the times-"cosmetically" every 10(?) years, property taxes that WILL go up every year, mowing/weeding/fertilizing, snow removal, landscaping-or keeping up "windshield appraisals", cleaning gutters, raking leaves, keeping sticks/limbs picked up (gawd forbid an ice storm!), topping trees-gettiing rid of dead/planting new...well you get the picture!lol! About the only thing you shouldn't have to worry about is a new roof....maybe a layover in 15 years or so long as no hail/or huge limbs come visiting....so I guess other than all that, its soooo worth it. lol!

But, if your elderly and live in a rural area, forget it! (Unless you have wonderful kids, like my mom, who will take care of these things for her.) Trying to find someone that does "reliable/decent" handy-man work is next to imposible. Even when money is no object, trying to get someone to drive 25 miles to work on something is impossible as plumbers/concrete/electricians etc... all want to work on NEW homes going up and not something they may have to actually work at or tear into. They want to walk in and run wiring/plumbing etc.. that doesn't have the sheetrock/tile already on it yet. (With the housing economy slowing down, they may be in for a rude awakening!)<End Rant>

Now I've forgotten what this thread was originally about.lol!
Anyway, I almost think renting is the advantage....pay one fee and let someone else worry about all the above! I suppose the advantage is you own it, you build equity in it and not in an apt. Plus, you can pass the headache on to your loved ones! What more could you ask for!
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Old 05-02-2009, 04:15 AM
Status: "I LOOOVE COLORS" (set 5 days ago)
 
30,117 posts, read 27,192,451 times
Reputation: 17564
its not as easy as buy a home and live rent free,,, life is all about trade offs...

if your choosing between renting or buying :

renting is about what you do with the money you would have put down as a down payment and what you did with the difference each month with that difference you would have paid if you bought vs rented in the early years

we figured out here in new york that we could have taken all the money we spent on our house and if we merely stuck that same amount in index funds for 20 years we could have subtracted out all the rent we would have paid and had enough left over to buy 2 houses today....

wise investing could leave you with enough to rent and still be ahead as the investment income pays your rent and then some...

its not as easy as buy a house and thats the best deal


sold our house a few years ago and right now we are renting in nyc, its the best deal.... our apartment sells for around 330,000 in a co-op , just the investment income from the money we would spend buying a place like ours pays the rent and we would still have 900 a month more to pay in maintaince if we bought...instead we took the difference we are saving buy renting and bought an eventual retirement home in the poconos

Last edited by mathjak107; 05-02-2009 at 04:49 AM..
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Old 05-02-2009, 04:19 AM
Status: "I LOOOVE COLORS" (set 5 days ago)
 
30,117 posts, read 27,192,451 times
Reputation: 17564
found this interesting reading


dont get me wrong im a homeowner as well as real estate investor but people have a tendancy to let the facts not get in the way of a good story...especially when it comes to myths of home ownership

How Houses Eat Money - WSJ.com
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Old 04-15-2010, 11:07 AM
 
2 posts, read 4,256 times
Reputation: 10
With all the tax credits to people with children, when are they going to give the elderly a break? They have paid taxes their entire life while they raised their children and now in their "golden years" (cough) they are the forgotten .............time to take some of these politicians to task on this. ENOUGH
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Old 04-15-2010, 09:15 PM
 
5,500 posts, read 6,665,418 times
Reputation: 6642
What do they do?

Well, as they get older, they get hard of hearing. So they spend their days watching infomercials, then calling 800 numbers and screaming "speak up" "what" over and over. Guess it give them a cheap thrill.............
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