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One idea that I've thought of is that some of the failing colleges could have their campuses converted into affordable senior living residences. As many of us know, dorm rooms are basic but quite livable and the campuses could have a shuttle between the dining hall, health services, campus grocery store, community rooms and even senior classes. There are often walkable college towns right outside of college campuses.
Yes it is quite a few of us. This same exact thing happening to me now in California. The OP , what Ruth said and your post also .
I bought this in cash in 2019 . This is a nice taped and bedded fancy trailer , hardwood floors, the new brushed steel appliances etc etc . The park requires an extensive background check and a credit score of no lower than 750 for everyone here . No renters . The place was bought by a company and now is raising the rent to where I am now going to be better off in a house back out in the country ( lower sierras ) with my broodmares than living in his paid off place. A nice house actually . This makes me quite sad but I have to do what is best financially . They told me last year that the rent will be raised $25 every year for the foreseeable future .
and no thanks to Nebraska or Va ( to the person who posted that ) I am not leaving here or leaving my husband who is buried in the Sierras . Won't happen . Most of us who live here are not trying to be hip or cool , this is our home and we get on well here . Also not everywhere in California is priced like the coastal areas are .
I thought about Laguna Woods but they require 150,000 liquid cash in addition to the purchase price of the house in the bank to be able to get in . So thats a no go .
I don't blame you for not wanting to leave your home. It get to the point it feels like there are no options at all. I'd say a no go to that Laguna Woods also.
Your Father taught you right. I will add people don't need to buy brand new cars or go on a vacation every year. I see so many people with nice homes, pool and even a maid yet they pay all that money to go away for vacation. To me their home is a vacation.
If possible young employees need to look into a deferred Comp with their employer. Especially if they don't have a 401K plan with their job.
There is also reverse mortgage if a retired person owns a home but be careful with that. If I am at a point where I know medically, I am not going to live much longer I would do it if I needed the money. If I am healthy then no I wouldn't because I think the bank would evict me when the money loan runs out. they want that money and if the owner lives to long, they won't get their profit soon enough. They are also a rip off I think because they over charge with interest, so they make a **** load of money in interest then they sell the property and make more on that. Its only worth it if there is no family to help with feeding me or getting repairs done in my home and I know I won't live long enough to worry about the bank getting my home.
It’s not even about denying yourself everything in life and pinching every last penny but simply about living within your means. By all means splurge on things that will increase in value, that being your house, but don’t buy a Lexus with a Corolla paycheck or stay at the Ritz with Holiday Inn paycheck. Don’t be a fool with your money and always toss at least 10% into your 401K and you’ll have over a million by the time you retire even if your paycheck never breaks six figures.
The more I read what you write I'm considering retiring there -- LOL
That’s the funny thing - total up the cash value of all the taxpayer-paid goodies handed out to those on the dole and you’ll realize you’ll looking at the equivalent of a six figure paycheck in a place like NYC or Boston.
Medicaid , food stamps ,section 8 , exemption from rent increases and all kinds of individual assistance from utilities ..plus maybe ssi or ssdi ,or welfare checks
That stuff can really add up when comparing it to a taxable income in a heavy tax state
So in your mind 10% of the population is on good shape snd the other 90% are screwed? You are WAY off base with your numbers.
I don't that 90% are "screwed," more like 90% that have the potential to be screwed. Take something like MS, a child born with disabilities, etc...I know one family that would have likely lost it all had the mother not been able to work remote; she's a nurse, but had taken a job in administration...
Quote:
Originally Posted by MrRational
And you continue to miss the point that for some, more today than perhaps ever before,
there has always been a hard limit to what many can achieve or should ever be expected to achieve.
Most of their problems are rooted in their numbers and that has been the case since the late 60's
With less competition and/or a stronger labor voice even the menial jobs WERE better paid.
Better hours, better benefits, better security, better pay. Even pensions. A few still are like that but not many.
iow NO! the bootstrap arguments are (almost) all complete crap
The bootstraps argument is as flawed as your zero-sum argument. It's really never that simple.
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