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You could quit paying your mortgage, save the money you normally would pay, file bankruptcy and move to a cheaper location.
Post like these make me so sad. And glad -that my husband and I have our pensions and a fairly low house payment. and minimal debt. We can make it if one of us dies. He will fare better as I have life insurance, and he does not (double cancer survivor can't get it we tried). My mother always said to make your own security and I took that advice to heart.
You could quit paying your mortgage, save the money you normally would pay, file bankruptcy and move to a cheaper location.
Post like these make me so sad. And glad -that my husband and I have our pensions and a fairly low house payment. and minimal debt. We can make it if one of us dies. He will fare better as I have life insurance, and he does not (double cancer survivor can't get it we tried). My mother always said to make your own security and I took that advice to heart.
That is absolutely stupid as they do not appear to be in any sort of a financial emergency.
If they file BK, they will not be able to get a mortgage loan for at least two years, and it's going to be difficult to rent. If they're going this route, they would probably be best to a deed in lieu of foreclosure or short sale the house.
At the great risk of offending the OP, and I apologize if I do, I believe the real problem is her estrangement from her children. In addition to not being able to count on them for basic help, she cannot count on them to just be there for her. I am guessing she feels they have dropped her from their lives and could care less about her. That would be very depressing to think.
We all know that there is usually disappointment and pain on both sides with any parent/child relationship and enough blame to go around for everyone. My advice would be for the OP to reach out to her children even if it's just to say, "I love you and miss you." Keep reaching out because maybe one day they'll realize you won't be here forever.
Again, my apologies if I have offended by sticking my nose in.
One more thing. For anyone afraid they won't be found for a long time when they pass away, you might want to try a little trick my family and friends have used over the years. Have one person you call every night just to check in. If the person hasn't heard from you, they will know something is wrong and track you down. Just don't take off for Europe without telling your designated person first!
Yes, Hubbie makes a decent salary. I get $500/ month pension and SS. We are not going to lose our house or anything like that. But there will come a time when Hubbie will need to retire. And there is very little savings and no investments. He's thinking maybe retiring when he hits 75. Just mortgage, taxes, and insurance is $22K /yr.
I am thinking of going back to work. I have tons of resumes out. I originally left my job to open a business. We put our life savings into the business, but due to the economy, we had to close. Never made the money back. Then I got very sick. Finally doing better but not as good as before.
We are in a rural area- a farm to be exact. There are lots of farms around, which may be the problem. Too many to choice from, although we are priced in the ballpark and maybe even a little lower. We only have 1 neighbor.
My main concern is what would happen if, as we age, we develop Alzheimer's? Would we even know it? What if we got hurt? Or was in a severe car accident? Who would advocate for us if we had to go into a nursing home? Or worse, what if 1 of us went in. How would either I, or my husband, care for my/ his self? What if the one who's home can't care for his/my self, while the other is in the hospital for an accident or illness? I know I shouldn't be so wrapped up in this yet, but I can't help it.
As a widower I had to change my mind/decisions on a few things such as finances, quality of life, etc. It takes a paradigm shift.
I have say as long as I can enjoy life which means be up and about, have a laugh, a drink or two, go to dinner, play some golf, like a pretty woman, etc, then I have a quality life. When I can not do those things I will consider my life not to be a quality life and I will deal with it. Fortunately, knock on wood, I am far from having to deal with it and hopefully will remain such......LOL
It's actually better to be poor than middle class in old age bc you can get Medicaid and either qualify for in home or facility health care. I'm a caregiver to a lady who was a millionaire but has required 24/7 care for 20 years. The money ran out a few years ago and now I'm paid by the Medicaid program. I've learned a lot about being old and alone. If you're not rich, be poor.
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.
So what? Maybe the majority is from his retirement income.
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