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Reply to "Can my in-laws afford to move? Financial gurus, we need your opinion!"
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[quote=Anonymous]Here is the situation - They are both in their 80s and in frail health. They live in a very economically depressed area. The home that they put about $350-$400K into and own fully, they would be lucky if they could get $100K for at this point. Pretty awful and not smart financial choices on their part. It is a rural area and they can't continue to live on their own without some serious support (nurses, drivers, someone to manage the property). So... they are contemplating moving to the DC area to be close to us. They have a fixed monthly pension of about $2600 and a retirement account with about $500K. They have health insurance (Humana) through a previous employer and Medicare. They do not have any long term insurance. So... how do we figure out if they can afford to move without selling their house? Or move after selling it for next-to-nothing?[/quote]
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