Message Font: Serif | Sans-Serif
 
No. of Recommendations: 1
<<"It's very lonely. The children would love me to come up and I would love to, but I just can't sell."
- RUTH SCHER, 85, a widow who can't sell her condominium in Delray Beach, Fla., so she can move back to New York.


http://www.nytimes.com/2008/11/22/us/22home.html?th&emc=......
>>



This is an example of a common problem that people often don't plan for adequately. My father stayed in his home too long, beyond the point where he was tending to his needs properly.

My general aim is to sell off my rental properties by my early 70s (should I last that long) and my home by my mid 70s. Renting an apartment would simplify my living needs by that age, and give me the flexibility to adapt to changing circumstances.

That's my theory now, anyway.


Angel May, you moved into a rather remote town for your retirement. Are you going to be able to find the services you need there as you age, or do you expect to move at some point?

I have a good friend who lives in Port Townsend. He is trapped by his house mortgage and refinancing he did to pull out money for living costs. He is thrashing about, trying to figure out what to do at age 70 with an underfinanced retirement.

I'm not expecting that to end well.



Seattle Pioneer
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.