Sneakers
Just sneakin' around....
I'm gonna go out on a very thin twig here..... maybe you're just as crappy as the other neighbors and just fit right in!!
:duckandrun:
I'm thinking about a retirement community
- Thread starter vraiblonde
- Start date
:duckandrun:
gemma_rae
Well-Known Member
LightRoasted
If I may ...
For your consideration ...
Not trying to be a Debbie Downer. You are correct about the above. But there is a difference. Property taxes are usually fixed at a maximum increase allowable amount per year. You can change the type and amount of food you eat, you can adjust the heat lower or use a fireplace or pellet stove, appliances can be repaired, or replaced from second hand stores to keep costs low. However, once you are locked in, if the initial all inclusive retirement community charge is $3K per month now in 2024, what happens when things beyond your control, aka inflation, over the years, cause them to increase the monthly charge to reach $6K per month? What will you do? Will your income and/or savings be sufficient when it hits $6K a month? Will your income double as well to keep up? Right now, you have every option to control your expenses as you see fit, pretty much.
In the last four years alone, consumer prices have increased 25%-35%; wages have not, savings interest rates have not. Social Security COLA on average is only about a 3% increase per year, far far lower than actual inflation. At this rate consumer prices will be double in ten years than what they are now.
Also, at those retirement/independent living facilities, you are at the mercy of the administrators of the facility. They are also ran like an HOA. Most of your friends that you get to know, die. Everyone around you will be old or older. You'll also begin to see, monthly/weekly, ambulance visits; just like at Asbury Solomons, depressing. The quality of food will be decided by them, not you. The residents on the whole in them are nosy AF, and therefore gossipy, too. I would say, that if you are a strong and independent person, you will be butting heads with staff and others, a lot. I would recommend if you can afford to stay in your own home, do so. Or instead, if possible, stay with family.
Just food for thought.
Not trying to be a Debbie Downer. You are correct about the above. But there is a difference. Property taxes are usually fixed at a maximum increase allowable amount per year. You can change the type and amount of food you eat, you can adjust the heat lower or use a fireplace or pellet stove, appliances can be repaired, or replaced from second hand stores to keep costs low. However, once you are locked in, if the initial all inclusive retirement community charge is $3K per month now in 2024, what happens when things beyond your control, aka inflation, over the years, cause them to increase the monthly charge to reach $6K per month? What will you do? Will your income and/or savings be sufficient when it hits $6K a month? Will your income double as well to keep up? Right now, you have every option to control your expenses as you see fit, pretty much.
In the last four years alone, consumer prices have increased 25%-35%; wages have not, savings interest rates have not. Social Security COLA on average is only about a 3% increase per year, far far lower than actual inflation. At this rate consumer prices will be double in ten years than what they are now.
Also, at those retirement/independent living facilities, you are at the mercy of the administrators of the facility. They are also ran like an HOA. Most of your friends that you get to know, die. Everyone around you will be old or older. You'll also begin to see, monthly/weekly, ambulance visits; just like at Asbury Solomons, depressing. The quality of food will be decided by them, not you. The residents on the whole in them are nosy AF, and therefore gossipy, too. I would say, that if you are a strong and independent person, you will be butting heads with staff and others, a lot. I would recommend if you can afford to stay in your own home, do so. Or instead, if possible, stay with family.
Just food for thought.
So, top floor apartment with roof access in Chicago.
thurley42
HY;FR
You've pretty much outlined my retirement plan
I going to go out on a limb here and assume you never lived in Suitland MD.
Smart of you to make sure the limb is secure before you go out on it.
Right, but if it sucks I can always leave. I'm not in a position of vulnerability where I'd be stuck somewhere awful.
Remember, I'm not looking at a nursing home, or even assisted living - it would be an independent living community where most people will own their own vehicles and have active lives.
But you're probably correct that most of the residents will be a good bit older than me, or at least they are in the website photos. I'm not averse to that. But it may be that there are also people my age who simply don't want to deal with the daily tasky stuff that is so boring and time/money consuming - they just want to hang at the pool and play pickleball and go to the farmer's market and call the guy when something needs to be fixed.
That said, I appreciate you poking holes in my plan. Seriously, keep it up because it gives me things to think about that I wouldn't have considered on my own.
You could always do a little internet research, find vacation homes that belong to prominent Democrats in Blue states and then squat there for several months, sell the appliances, let the grass grow three feet, run up the electric and water bills for them then move on to the next one.
From what I see on the news, they're fully in support of it when it's someone elses place so they must not mind abotu their own.
From what I see on the news, they're fully in support of it when it's someone elses place so they must not mind abotu their own.
Do they offer month to month occupancy or is it a buy or lease obligation? You might find yourself at least a little stuck.
As to the residents being a good bit older, make it an activity, Go get you a Carl Rove whiteboard and keep a count of the departed.
jrt_ms1995
Well-Known Member
You've left out some shooting to fill the otherwise vacant time.
Sneakers
Just sneakin' around....
I know you joke, but this really upset my dad. Every time he made a friend, suddenly they weren't there anymore. He stopped socializing, became withdrawn, partly because he was seeing everyone leave, and partly because it re-emphasized his own mortality.
Nap time.
OccamsRazor
Well-Known Member
Based on data available today and the ever diminishing availability of occupancy in assisted living or retirement homes, what makes you think it will get BETTER in the future? What makes you think there will be plenty of openings elsewhere?
TPD
the poor dad
My aunt sold her house on Main Street on the shore last year, with the intent on moving into a 55+ community. Two things she realized - she didn’t start early enough in the search process. There were waiting lists at any decent place she visited up to a year. And 2nd - the cost. My god the cost. I let her move into an apartment I have at the farm for a tenth of the cost. She doesn’t have a pool or trash service and sometimes I make her cut the grass and pick me up from the field when I’m moving a tractor or combine. But what she does have is cows in the nearby pasture to listen to while sipping her coffee in the morning, a creek she can walk down to and sit on the pier to enjoy what nature has to offer, some flower beds outside to putz around in, a nephew to talk politics with while sipping some whiskey, another nephew always bringing her veggies, pizza, and crabs, and family nearby to help her with appointments and to visit. In fact, she feels needed at times, which goes a long way when you are 80+ years old. She will go downstairs where my daughter lives and clean her kitchen or wash her clothes. She takes her sister and my wife to doctor visits. She left some friends behind on the shore, but she gained family support here in SMC where she was born and raised. She thanks me frequently for allowing her to live on the farm - she has enjoyed it.
What this has shown me is that family support network is important as you get older. Your mileage may vary.
What this has shown me is that family support network is important as you get older. Your mileage may vary.
LightRoasted
If I may ...
TPD
the poor dad
Just enough to cover utility costs and insurance.
My aunt keeps insisting on paying me more but I tell her my mother would come back to haunt me if I didn’t treat her fairly. This is the farmhouse that I grew up in that I inherited from my parents when they passed. My aunt living in the apartment is one of my mother’s sisters. I feel my mother would want her to live there.
See - I am a nice guy sometimes….
ontheriver
Well-Known Member
My shack is a small house with a fantastic view and a GAS stove. As long as I can cook, walk and eat I am not leaving.
SamSpade
Well-Known Member
Happening to my mother in law. It can be very disheartening.