[jblum315]

I believe the surviving spouse gets the deceased spouse's SS

[Madelaine Amee]

Originally Posted by jblum315

I believe the surviving spouse gets the deceased spouse's SS

I think the surviving spouse draws the larger of the two amounts.

[eweissenbach]

Originally Posted by Madelaine Amee

I think the surviving spouse draws the larger of the two amounts.

correct

[rubicon]

SallyR: I am sorry that you and your husband are have difficulty. The tone of your post tells me that you are deeply disappointed and deeply worried.

What your post does not reveal is you and your husband's age, whether you have any additional savings, qualify for medicare and/or have health insurance. Your post also doesn't indicate the extent of any additional liabilities nor your preferred lifestyle.

Coach Ed was correct in stating that costs would likely be lower here than in many places albeit we don't know your tax situation, etc.

In my view someone wanting to live strictly on social security needs to be clear of any obligations and even than a reduction in fixed costs. so perhaps such a person would live without ll the bells and whistles from cable TV, etc.
Then their are variable cost. Let's start with the cost of moving. Insurance premiums, that go up.etc. etc. etc.

In my view those issues have to be considered and if the outcome is that in the long run you are financially better off in Florida than here. well then
I would invest in a financial counselor You are making a capital decision here

[Schaumburger]

Originally Posted by Midvale

Good advice.
There are also many nice manufactured homes in the historic area, some for under $100k.

Agree with Midvale! Although as a wannabee I haven't lived in a manufactured home in The Villages, I have been to quite a few open houses for manufactured homes in The Vilalges, and several have been lovely. I have been thinking about going the manufactured home route myself...

[casita37]

Something else to consider is the possibility of one of you dying well in advance of the other . Then you're down to one SS check, but your expenses won't be cut in half.

Oops...didn't see the other posts with SS info, but it's still an important consideration.

[dsned]

My girlfriend lives on Historic side in a completely remodeled really beautiful home. She was so surprised because it only cost her 500 a month to live there. No mortgage. And yes she put out saving for a cart. Good luck and come on down!!

[Bonnevie]

another possibility is to look at another area that would be less expensive. you might try Sun City Center near Tampa...you could get a resale for less there and you might be able to make money on your home sale....not as many activities as TV but would still get you out of the cold north

[patfla06]

Sun City has HIGH taxes being in Hillsborough
County.
They also have a Chinese drywall problem.
And the traffic is HORRENDOUS.
I'm just saying...?

(I currently live in Hillsborough County)

[Lbmb24101]

I agree w queassy...wow i feel for you two....how terrible losing both pensions...
I do know someone who lives on her deceased husband's
'social sec, she pays mortgage on a ranch in TV, lives tight, but makes do.
With budgeting and some sacrifice, it is possible.
And though jobs are low paying, some villagers do work to supplement incomes.
Good luck w everything!

[queasy27]

Another consideration for a manufactured home is that property insurance is comparatively high since only 2-3 companies provide it. Premiums have really been going up. I would never recommend going without, but that would be an option if you didn't have mortgage.

Property taxes in Lake County are low if you have the homestead exemption (my bill was about $525 annually).

[senior citizen]

Originally Posted by Bill Tasker

This is a good question. I have often wondered the same thing. My spouse will have a small pension, hopefully enough to cover medical coverage. We will both have SS (hopefully) and I have a 401K. Buy a house out right or keep the cash has always been a quandry for me. When we looked at the historic side, most of them required a lot of updating. The realto rwe spoke with advised that TV will be completed 2015 and prices are moving up up and away. :-(

It is wise for you to consider the money you "might" have to sink into an older home. We've always bought older homes in Vermont as there wasn't much of any choice nor new builds.......everything moves at a snails pace up here, including home building. Mostly singly built homes by owner. Not a development type situation like in N.J. or Fl.

Which leads me to: Even on social security alone, people would have to remember to have an emergency fund.

After years of noticeable climate change up here in Vermont with warmer winters and the typical January thaw coming in November......and the snow being RAIN....with saturated ground and sometimes rain on frozen ground......people started getting minor flooding in their lower levels and basements.........like soggy carpeting........

After years of thinking it would "change back" to the old climate, which did not happen........and more winters of ice jams and ice dams on the roof (which was new).........we had to put in French Drains all around the perimeter of the home.......dug out deep and then pipes put on gravel, etc. and they WORK GREAT......especially this year with two months of steady heavy rains up here..........VERY ODD WEATHER, TO SAY THE LEAST.

We also replaced our fairly new roof with another new roof with special "something or other" under the shingles and "ice glides" on the edges so that the snow and ice on the roof will gently fall off and not accumulate and go under the roof shingles..........

Just guessing, but in an older Florida home..........the airconditioning might go and that is as important as our oil furnace is up north......so even on S.S. keep in mind (the original poster) to keep an emergency fund for home repairs..............one never knows.

[senior citizen]

Originally Posted by coach

My opinion is not to have a mortgage. The reason is that if one of you dies that SS money is gone. Can the surviving spouse live on one SS check and still make the mortgage payment?

Living on SS is possible but it must be with no debt.

Excellent advice. It's true. They would be down to one check monthly if the spouse passed away.

We haven't had a mortgage since we were 45 years old since we bought our first home at age 22 and then obviously paid off all the other mortgages.

I've mentioned to my husband how people do buy in TV with mortgages and that they seem to give them out to older people........

He always has told me he would NOT want to start with a mortgage again.

Last count, we have owned and sold 5 homes; this being our 6th home which we will sell, hopefully, next spring. Neither of us would want a mortgage at age 68 now and 69 next year.

[senior citizen]

Originally Posted by jblum315

I believe the surviving spouse gets the deceased spouse's SS

They do get the higher amount, but it's still one check, minus the other one.

[Dr Winston O Boogie jr]

Originally Posted by queasy27

Gosh, that's a huge blow, SallyR. Did you both used to work at the same company that lost its pensions?

Living on two SS payments should be possible. To give you an example, my budget when I lived on the historic side was $2050/month, which included a $547 mortgage, amenity fee, utilities, lawn maintenance, home repair, gas, food, entertainment, and all other normal expenses. I also budgeted an additional $500 a month in discretionary income.

The biggest variable might be health care costs, depending on your situation with insurance or Medicare.

This pretty much says that the answer is yes. If you buy a house outright and have no mortgage payment, you can reduce that budget by about $300. If you can mow your own lawn, you can save another $50 a month.
If you both are receiving SS benefits you are taking in at least $2600 a month well over Queasy's budget.