Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
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For anyone interested, below are links to related articles and similar discussions in other forums:
Why I Hope to Die at 75 - The Atlantic Solo Ager: who would you trust with your financial POA? - Bogleheads.org Are you a "solo ager?" - Bogleheads.org Single People and Retirement Question - Bogleheads.org Costs, Pros, & Cons of CCRC - Continuing Care Retirement Communities - Aging in Place. Pitfalls? - Page 2 - Bogleheads.org https://www.bogleheads.org/forum/viewtopic.php?t=397804 https://www.bogleheads.org/forum/viewtopic.php?t=418880 https://www.bogleheads.org/forum/viewtopic.php?t=391680 https://www.bestguide-retirementcomm...vehousing.html https://www.nextavenue.org/solo-ager..._f_UPnubeY3qEM https://www.npr.org/2019/08/15/75147...d-keep-the-old |
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Because at this point how long will you live on? Like in your younger years, you will not have the luxery of knowing and giving advance notice for lease termination, LOL
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DaddyD, thank you for starting this valuable thread, and thank you for all those links you posted.
I saw in one of your posts that you are still in your 50s. We bought a long term care policy just before we turned 60. May I suggest that you start looking into buying one. For a long time the premiums did not go up, but now they are accelerating fast. It is aggravating and the company keeps offering us options to lower the amount and timing of the coverage to somewhat lower the premium. But, for now, when the bill comes, we hold our noses and just pay it. It is like they are playing chicken with us……. Even so, I look at the amount we have paid in for so many years and compare it to what one year in a good facility would cost and our pay-in is not even close, so we will keep on. We also consider it asset protection for each other if one needs extra care. It covers in-home care and assisted living, in addition to skilled care. Including memory care. I hope you will look carefully at your options for a LTC policy. I understand exactly what you are saying about the financial part of things. We do not use a financial advisor but I am thinking of turning over part of the responsibility soon just to test the waters and to make things easier. I am trying to prepare for what happens if we cannot do it ourselves anymore. LTC policies and financial plans are easy compared to the very real concern about who is going to pay the bills. A POA is an incredibly powerful document and should never be taken lightly…… What is really needed in so many situations is to be able to hire someone to take care of paying the regular bills when help is needed. That is where there is a big hole in what we can attempt to do to keep ourselves covered as we age….. Seems like elder care attorneys could have someone under their umbrella to simply pay regular bills for those who want to hire them without turning over the POA…… What older people need sometimes is simply help with regular bill-paying. Seems like an account could be set up with enough money to cover monthly bills without giving the POA to the hired person who is paying the bills…… The name of the bill-payer on the account would do that, but where is such a trusted person to be found to hire? ‘Hire’ is the operative word there. Even for someone who has a relative or friend to do that, it would sometimes be easier to just hire somebody…. I am surprised there are not more small businesses, perhaps through accountants, to do that. It basically boils down to needing an honest bookkeeper. (I know an accountant who does this for a few people, but she is ready to retire and is long past retirement age herself.) Anyway, enough from me this morning. (I am avoiding working on getting tax stuff together, so I end up hanging out on TOTV.) Please carry on. This is an excellent thread. Boomer
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Pogo was right. Last edited by Boomer; 02-12-2024 at 11:35 AM. |
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And now I am going to add something else to worry about. I know 3 people who have been scammed.
One was a lot older but still seemed on top of things to everyone who knew her. But she had been sending money to a scammer to the tune of over 30,000 bucks. The bank caught it and got her to involve her daughter who had no idea. She thought her mom was doing fine. The other two did not lose as much, but both of them are highly intelligent people, very involved with family and friends, and yet the scammers got them. Neither of them can believe they actually let it happen. I am glad they talked about it though because even though embarrassed, they gave the rest of us a good warning. For one, a spouse caught it, and the other one caught herself. That one happened when she got aggravated trying to communicate with a robot online to solve a problem with an order or subscription or billing or whatever….. She then stopped the pointless conversation with the robot and looked for a phone number, finally finding one online that looked perfectly legitimate. (insert the theme song from Dragnet here) Anyway, the professional sounding scammer answering the bogus number played his helpful role quite well and got account numbers. It was a mess but she got it straightened out….. Who knew that there were evil characters out there with bogus phone numbers and websites just waiting for us to call them. I saw a speaker once who worked on fraud cases, and he said that highly intelligent people make up a surprising percentage of people who have been scammed. (One was a doctor who scammers got for over a hundred-thousand dollars.) So there’s that. Boomer
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Pogo was right. |
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They should at least furnish the apartment. Who is going to buy furniture and hire a mover when they can raise the rent or evict you within 30 days?
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You do not have much furniture left when you get to the one or possibly two room care home and since the places are very small your down to a couple recliners, end tables and beds at that point (and those hospital beds probable belong to the home). Most of this furniture your heirs will not want so it goes to the trash. Ask me how I know, LOL
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I am surprised there are not more small businesses, perhaps through accountants, to do that. It basically boils down to needing an honest bookkeeper. (I know an accountant who does this for a few people, but she is ready to retire and is long past retirement age herself.)
One para stood out to me Boomer. This one above. I believe our litigious society would inhibit almost anyone from taking on that responsibility. A law suit of this nature could wipe you out. |
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Thank you! |
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1) The first line for preventing any problems or discrepancies is to conduct the affairs legitimately of the people who are paying you to handle things for them. If so, then, what lawsuit? What's there to sue about? 2) Set yourself up in a LLC (Limited Liability Company), if permitted in the state where services would be rendered for that kind of work. 3) You create a contract with the people you're working for that defines the parameters and limitations of the scope of work being performed. Add an oversight aspect to it....like a family member or attorney who has to get a monthly accounting and description of work performed, etc. I could do that kind of work and , likely, be pretty good at it. But, I'm already quite busy and probably wouldn't have the patience. That's my Achilles heel. |