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Old 06-29-2009, 09:44 AM
 
Location: New England
12,395 posts, read 8,638,277 times
Reputation: 8960

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Quote:
Originally Posted by xz2y View Post
I totally agree. I moved to Mpls last summer for a job at the University of MN. I thought it would be a good way to transition to retirement, etc. Work a couple years and then retire. Turned out to be a very dismal job situation, not tenable at all (this was admin, not teaching). I worked in a totally isolated situation for an SOB, who of course, showed his true management style after I moved out here. And, to make matters worse, I was stuck in a 12 month lease until this summer in a costly city. So I had to do some part-time work to make ends meet until now, when I can bail out of the apartment and move back to MI, where at least, I can rent an apartment for far less than in Mpls and where the cost of living is much more reasonable. Plus, I have friends in MI, having lived there for 20 years. So, moving for eventual retirement to a new place doesn't always work out. I will be very careful before making another move, which is costly.

This may be a cautionary tale about the types of work we should seek when semi retired.... for me, a low wage job in a low COL area is better than a decent paying job in a higher COL area. The risks of the workplace today are frightening...layoffs, SOB bosses, etc. Even doing something on our own like dog sitting may be better...combined with retirement income. Also, some of us have physical limitations that make working a stressful job impossible. If possible, I would seek very low COL over anything, for our age.... ...that is, if it exists, as it seems to for NiceT4....
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Old 06-29-2009, 10:00 AM
 
6,400 posts, read 5,754,091 times
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Quote:
Originally Posted by newenglandgirl View Post
This may be a cautionary tale about the types of work we should seek when semi retired.... for me, a low wage job in a low COL area is better than a decent paying job in a higher COL area. The risks of the workplace today are frightening...layoffs, SOB bosses, etc. Even doing something on our own like dog sitting may be better...combined with retirement income. Also, some of us have physical limitations that make working a stressful job impossible. If possible, I would seek very low COL over anything, for our age.... ...that is, if it exists, as it seems to for NiceT4....
It is something that really needs to be planned for ten years before you get there.

Dog sitting would be good. We lost our beloved pet a year ago and whenever we left town we were loath to kennel her, she was old and being in a kennel really upset her balance. We would pay the neighbor $20 a day to check in on her three times, let her outside... the neighbor we had would spend the night just watching television while the dog would sleep.
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Old 06-29-2009, 10:31 AM
 
43,246 posts, read 47,117,023 times
Reputation: 13700
Quote:
Originally Posted by newenglandgirl View Post
With all the budget deficits, esp schools, property taxes are going to rise exponentially each year. Even those who are fortunate enough to own their own homes outright are going to see a greater and greater % of their retirement income eaten up by prop taxes....anywhere from $300 - $800 or more a month. So people who are thinking of movng are generally (wisely) scheming to get their COL lower...before it's too late, IMO....
Not if your 65 and find trhe right state and area.Many have preperty tax freezes at 65 and some no income tax.Also many have homestead execmptions also.
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Old 06-29-2009, 11:11 AM
 
Location: Knoxville, TN
2,173 posts, read 5,023,839 times
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Tennessee offers a program where the state pays or helps with the property tax for low-income, elderly and disabled homeowners.
There's also a tax freeze at 65 but that varies by county.
Tax Relief - Trustee - Knox County Tennessee - A Great American Community
Tennessee has also passed legislation to make it easier for seniors getting Tenncare (Tennessee's version of Medicaid) to stay in their homes and get the services and help they need instead of moving to nursing homes.
Chattanooga Times Free Press | Tennessee: TennCare can help seniors stay home
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Old 06-29-2009, 01:30 PM
 
Location: home...finally, home .
7,862 posts, read 12,629,167 times
Reputation: 16548
agree with another poster, I would avoid golf courses, because of the maintenance expense. The same would go for pools, tennis courts or any other extraneous facilities. A little ground around the complex is nice but if it is near a park and on a bus route in a walkable neighborhood--that is all I need,

I totally agree. I would rarely use either a tennis court or a golf course so why would I pay a premium to have them ? What livecontent said is absolutely correct for me . A little park and shopping nearby would be perfect for me.
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Old 06-29-2009, 03:22 PM
 
Location: North Carolina
526 posts, read 1,290,132 times
Reputation: 291
I have long thought that one way to beat the high cost of "organized facility" living, such as retirement homes, assisted living and so on, would be for a bunch of old friends to rent a block of apartments in an apartment building. You'd each have your own space, but be close by for medical emergencies and companionship. It would help to have members share their skills with the community: such as auto mechanic, retired doctor, good cook, therapist....! Basically, whatever your skills were through life would be shared with the group, at no cost.

Although my girlfriends and I are not yet old enough for this, we have started discussing it. Most of us are childless and also not willing/able to rely on men to provide us with a secure retirement (not that anyone should!) So, what do you think? Anyone forsee some problems with this?
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Old 06-29-2009, 04:14 PM
 
Location: We_tside PNW / CO / SA TX / Thailand
11,282 posts, read 18,961,353 times
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Quote:
Originally Posted by goat1of2 View Post
I have long thought that ...a bunch of old friends to rent a block of apartments in an apartment building. You'd each have your own space, but be close by for medical emergencies and companionship. .. Anyone forsee some problems with this?
Potential Problems would be:
1) an agreement of sorts to keep the 'purpose' going.
2) fair housing rules for the apartment owner
3) risk of inflation of rents
4) risk of sale of building

You might consider ownership options.

Get the group to form an LLC, pool their capital, and BUY an apartment building. It could include addition space and possibly 'mixed-use' so you could get positive benefit of inflation protection, cash flow, net income, depreciation, repair deductions. Possibly retail / offices / daycare in the building for potential employment. Now and the next few years is a good time to find cheap investment properties, get it before interest rates go out of sight.

other options are Senior cooperative housing, or Cohousing (Both are ownership models with potential inflation protection and asset appreciation, and the benefits of communal care)
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Old 06-29-2009, 04:23 PM
 
Location: New England
12,395 posts, read 8,638,277 times
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Quote:
Originally Posted by nicet4 View Post
It is something that really needs to be planned for ten years before you get there.

Dog sitting would be good. We lost our beloved pet a year ago and whenever we left town we were loath to kennel her, she was old and being in a kennel really upset her balance. We would pay the neighbor $20 a day to check in on her three times, let her outside... the neighbor we had would spend the night just watching television while the dog would sleep.
Yes, planning.....something I could never do, never had enough income to really plan, and raised a lot of kids. I'm trying to instill in them what I myself could not do. It's very hard not to feel overwhelmed about this....
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Old 06-29-2009, 04:32 PM
 
Location: New England
12,395 posts, read 8,638,277 times
Reputation: 8960
Quote:
Originally Posted by knoxgarden View Post
Tennessee offers a program where the state pays or helps with the property tax for low-income, elderly and disabled homeowners.
There's also a tax freeze at 65 but that varies by county.
Tax Relief - Trustee - Knox County Tennessee - A Great American Community
Tennessee has also passed legislation to make it easier for seniors getting Tenncare (Tennessee's version of Medicaid) to stay in their homes and get the services and help they need instead of moving to nursing homes.
Chattanooga Times Free Press | Tennessee: TennCare can help seniors stay home

Thanks, Knox. This is really valuable info. I did not make it to Knoxville on my recent trip, I ran out of time and could not spend that much more to visit this time around. I've ruled out NC though, b/c the only area I would want to live in there is too pricey and the public transit practically nonexistent. I would like to find out more about Knoxville. Is this where you grew up and have family now? That's one huge stumbling block for me...not wanting to leave my remaining family.
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Old 06-29-2009, 05:31 PM
 
Location: Knoxville, TN
2,173 posts, read 5,023,839 times
Reputation: 1435
Quote:
Originally Posted by newenglandgirl View Post
Thanks, Knox. This is really valuable info. I did not make it to Knoxville on my recent trip, I ran out of time and could not spend that much more to visit this time around. I've ruled out NC though, b/c the only area I would want to live in there is too pricey and the public transit practically nonexistent. I would like to find out more about Knoxville. Is this where you grew up and have family now? That's one huge stumbling block for me...not wanting to leave my remaining family.
I have no family here. I did know a couple of people in East Tennessee before I moved here.
I was born and raised in California, went to college in Washington, D.C. and stayed there. I do have a lot of family in Ohio who I don't know real well and even some in Crossville, TN, where my mom was from. Still have some relatives in California.
I'm just used to friends being my family. I grew up that way in California. My parents had made the trek across country at the end of the Great Depression, leaving family behind as did a lot of others. Friends became your new family. Same in D.C. Everyone was from somewhere else.
E-mails make it a lot easier to keep in touch than the days of letter writing and expensive long distance phone calls.
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