Skip to main content
No. of Recommendations: 4
taking out 10k to ensure a stable low rent living situation indefinitely seamed like a good idea to me.taking out 10k to ensure a stable low rent living situation indefinitely seamed like a good idea to me.

You probably want to be sure you have a back-up plan for where you will live if the land gets sold out from underneath you. Mobile home parks with low rents tend to turn into targets for developers. Here's an article about a recent fight in a relatively low cost area of Washington state: http://www.seattletimes.com/seattle-news/mobile-home-parks-r... I have seen other articles about threatened/actual closures in CA, OR and TX.

Also like I said previously, a life in the trades - thinking I am going to live to 90 with all the crap I have been exposed to over the years would be pretty unrealistic. 70 is probably a better bet.

If you don't want to be a burden on your kids, I'd strongly suggest planning until at least the average life expectancy - for a male age 55, that's another 25.41 years, or until age 85.4: https://www.ssa.gov/oact/STATS/table4c6.html
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.