Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (24) | Ignore Thread Prev | Next
Author: Bobcatkitty Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19022  
Subject: Re: MIL finances Date: 7/5/2011 10:58 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I am one year older than your MIL. Still maried (after 47 years), but we have already had "the talk" about what will I do if my DH dies and I'm left to handle things.

First and foremost, this 3000sf house would HAVE to go. I'm not capable of taking care of it, nor do I want to, even though the money for upkeep is not an issue.

Here's what I've decided so far: I will not be a target for unsavory people walking thru my home whie it is for sale, so I would move into an apartment, rent some furnishings for staging and await an offer. Then, with cash in had, I can start to plan for the rest of my life...i.e where do I want to live and do I want a condo or apartment?

I would lose about $1500/mo income when I lose my SS an the VA disability of DH, as I would only be receiving his SS, not mine. But with lower expenses, I would be able to make that up easily.

I absolutely agree with "sell the house"...and sell it now. The time for other decisions can come when you have a handle on exactly what expenses will be and then you can investigate how to generate the necessary income.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (24) | Ignore Thread Prev | Next

Announcements

2013 Feste Award Voting Begins!
Who will win the 2013 Feste Award? Vote now for the Fool that most exemplifies the Fool Community mission of Learning Together!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Tax Strategies

TMFPMarti-Feeling Good
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement