Growing Old With Dignity

[PILOON]

Also 80 here.

4 years ago I had a little spat with my better half when I bought a Toyota MR2!
I had been on the lookout for a MGB but found only 'fixer uppers' or $15 K restored and overpriced IMHO.

Bonus was the MR2 had factory air and was a totally original Florida car.
I actually feel that my MR2 is appreciating rather than going the opposite way, besides its fun on a nice (rare) sunny day.

Problem is that the frunk (front trunk) only has room for a case of 24's so it is really no more than a toy, but for sure a fun toy.

 

[rekees4300]

We have the same rule here. $10,000 per year and no more than $30,000 in a five year period.
We can prepay our funerals with no penalty.
Not allowed much in the way of assets or we begin to lose our pensions. $3.00 for every $1,000 over the limit. Not that our pensions are worth much so the $3.00 per $1,000 quickly puts a big hole in it. The only thing to do is spend it quickly or say you blew it on the pokies.
Govt doesnt want pensioners to have money or assets. Thankfully the family home doesnt count in the figures.

In USA we have something called Medicaid that pays for long term healthcare. The rules vary from state to state but generally speaking you have to be indigent before Medicaid will pay anything. So many folks who don't plan ahead lose their lifetime assets. Money that was suppose to go to family instead goes to a nursing home that charges $5,000 to $10,000 per month!

 

[Oaktree]

I hear that! Being frugal has its place as does spending on yourselves. You earned it.

I am 70 now so time to start being extravagant? I intend getting a new kitchen, bathroom and general upgrades and a car or two (always wanted a Mustang) and then I can just plod along until the day. Oh, and of course a new shed and maybe a bigger tractor. Lol. Tell me I am bad.

Would make it a lot easier if you knew when you were going to go (and whether you'd have serious health problems as you get older) so you could plan accordingly. Don't know what's worse, running out of money before you run out of years, or scrimping so you can leave an inheritance to people who did nothing to help you accumulate it.

 

[Sigarms]

No your good to go.
I went out and replaced my car with a more modern one and bought an MTB ebike. At 81 i'm out riding mountain bike trails, up to grade 3. 100km coast to coast trail rides. I'm gunna go out with a bang

Just don't hurt yourself.

My dad at around 83 was complaining that he would never golf 36 holes in one day again as it just tuckered him out too much.

He made a boo boo and tried to fix his mower himself, and he's been paying for it since he did it (fractured his back).

The older you get, if your body has to recover from a mistake, chances are it's going to take longer (time wise) to recover.

 

[PILOON]

On ageing and cars-----

Good friend owns a storage facility.
Every fall he gets some 50-60 clients that wish to store their 'toy cars', mostly sporty convertibles.
Also amazing the number of high end RV's that get parked on his lot with most away all winter.

A trend seems to be to sell the home, move to a condo and purchase an RV and or sports car.
Face it, a mortgage free home that has appreciated over time is one nice asset or nest egg.

At age of 18 I acquired a waterfront property from the gov't, built a cottage and that's my 'nest egg'.
As a teen I read the adds back of Popular Mechanics that tooted 'free gov't land' and discovered to my amazement some existed just 1 hour north of Montreal.
That's my 'egg'.

 

[Green Acres Homestead]

In USA we have something called Medicaid that pays for long term healthcare. The rules vary from state to state but generally speaking you have to be indigent before Medicaid will pay anything. So many folks who don't plan ahead lose their lifetime assets. Money that was suppose to go to family instead goes to a nursing home that charges $5,000 to $10,000 per month!

Similar here in Canada. The government is bound due to get every cent.

 

[reb]

In USA we have something called Medicaid that pays for long term healthcare. The rules vary from state to state but generally speaking you have to be indigent before Medicaid will pay anything. So many folks who don't plan ahead lose their lifetime assets. Money that was suppose to go to family instead goes to a nursing home that charges $5,000 to $10,000 per month!

When I first read this, I thought it was a complaint that Medicaid is for only the indigent. That is as it should be. I figure I have done my part for the family if I have enough to support myself and my wife for our lifetimes. Anything left over is gravy.

 

[ultrarunner]

Age really is a number...

I see very active 90 year olds that come in for eye surgery and those in their 40's that look 80...

Part is genes and part lifestyle and part luck.

Been blessed to have a lot of older people in my life... the street where I live I am still the kid... lots of neighbors reaching 100 and living alone or with spouse in their homes of 50-70 years...

As an aside... every one of the women are Midwest or Nevada Ranch born and raised... in other words they come from hardy pioneer stock... the men are Asian, born here and also grew up on farms/ranches in the greater SF Bay Area.

One of the neighbors was as sharp as could be past 100... her house was impeccably maintained and she wanted everything in tip top shape for her daughter when she inherited it... paint, roof, furnace, floors etc... all up do date and they bough the place new in 1958... but mom was still sharp... she had it written into her will that the home was her daughters but if sold the proceeds would be divided equally between her daughter and two grandkids.

Funny thing is the moment Mom was gone... the home went up for sale... at least it was an easy sale because there was nothing needing to be done...

Kids often have very different ideas then their parents... seen it many times... family China, Albums, Furniture... all quickly disposed of.

When my Grandfather's aunt... a war widow twice, WWI and WWII, and then again decided to move to a retirement home... she had a modest apartment of things which she could not take to the retirement home and it was causing anxiety... I offered a vacant one car garage to store what ever she wanted... it was like a burden had been lifted... over the years I would let her know of a family in need of a dining table or bed, etc... she was more than happy to give them away to someone that needed and would appreciate it...

This was my little part to add some dignity to the process and not reducing her lifetime processions to a problem needing to be dealt with... some kids are really so cold when it comes to things like this... anything that isn't a CD or Brokerage account generates all the work they have to do to get the FREE money...

 

[rekees4300]

When I first read this, I thought it was a complaint that Medicaid is for only the indigent. That is as it should be. I figure I have done my part for the family if I have enough to support myself and my wife for our lifetimes. Anything left over is gravy.

My kids are mid-life and are expecting some gravy. :licking:

 

[Molalla1]

Also 80 here.

4 years ago I had a little spat with my better half when I bought a Toyota MR2!
I had been on the lookout for a MGB but found only 'fixer uppers' or $15 K restored and overpriced IMHO.

Bonus was the MR2 had factory air and was a totally original Florida car.
I actually feel that my MR2 is appreciating rather than going the opposite way, besides its fun on a nice (rare) sunny day.

Problem is that the frunk (front trunk) only has room for a case of 24's so it is really no more than a toy, but for sure a fun toy.

Just about a hair or 4 behind you . . . have fun with that car!

 

[Molalla1]

My kids are mid-life and are expecting some gravy. :licking:

You are too kind . . .

 

[dieselcrawler]

When my Grandfather's aunt... a war widow twice, WWI and WWII, and then again decided to move to a retirement home... she had a modest apartment of things which she could not take to the retirement home and it was causing anxiety... I offered a vacant one car garage to store what ever she wanted... it was like a burden had been lifted... over the years I would let her know of a family in need of a dining table or bed, etc... she was more than happy to give them away to someone that needed and would appreciate it...

This was my little part to add some dignity to the process and not reducing her lifetime processions to a problem needing to be dealt with... some kids are really so cold when it comes to things like this... anything that isn't a CD or Brokerage account generates all the work they have to do to get the FREE money...

You are to be commended... most people these days would 'sucker' the ol gal out of her things in some fashion or another. A good-hearted person is getting harder and harder to find.

And don't get me started on the kids that just want the 'quick-cash-out' option...

When my paternal grandmother had a stroke and went into a nursing home (circa 1999), I was given her humble home furnishings that she had left at that point, (age: mid-80's) and was what got me going in my first 'on-my-own' place... her couch, kitchen table, dishes, microwave, etc, served me well for many years after. I still have a few soup bowls and one sauce pan that my wife doesn't understand why I dont want to let go... I'm a sappy sentimental, she is not so much.

 

[dieselcrawler]

My kids are mid-life and are expecting some gravy. :licking:

My kids are early life, oldest graduates high school this month... and gravy they already have isnt good enough... *growl*

 

[goeduck]

Leave the kids a recipe for gravy in your will. :laughing:

 

[Doofy]

Leave the kids a recipe for gravy in your will. :laughing:

Amen, to that!

 

[ovrszd]

When my paternal grandmother had a stroke and went into a nursing home (circa 1999), I was given her humble home furnishings that she had left at that point, (age: mid-80's) and was what got me going in my first 'on-my-own' place... her couch, kitchen table, dishes, microwave, etc, served me well for many years after. I still have a few soup bowls and one sauce pan that my wife doesn't understand why I dont want to let go... I'm a sappy sentimental, she is not so much.

Me too Greg. My Mom recognized that in me. So I inherited the task of retaining the small family heirloom things. Some would consider it hoarding. There was a time in my young life that I thought that of my Mom. As I aged I gained respect for such things. Now when we have family gatherings at Thanksgiving or whatever I drag out the boxes of pictures and trinkets for the family to look at. One item is the steamship boarding pass used by my Great Grandfather to get him and his family to America. It's all written in German. That piece of paper is priceless to me.

So now I am scouring the family looking for the one to pass this on to.

 

[ovrszd]

My kids are early life, oldest graduates high school this month... and gravy they already have isnt good enough... *growl*

Congratulations on the graduating Senior Greg. I know you as a great Father and Provider for your family. They are Blessed to have you.