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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My widowed friend sold her large house,  and jointly bought largish homes with her two kids in a good school district. She has an independent suite in these houses and name on the deeds as co-owner.  She takes turns living in each of these homes.  She does not have to care about the maintenance of the home, grounds,  utilities etc. She has become a minimalist. She has her own space, she has enabled her kids to buy homes in good school district which they could have not done on their own at a young age, she is close with her grandkids, and she has given her children their inheritance and a leg up while she is still living. [/quote]

What happens when your widowed friend starts deteriorating physically and mentally?  How minimalist is her home care going to be since the money is locked in the kids’ houses?

One of my mom’s friends did something like that.  It was great until she needed help with basic daily living.  Surprise, neither of the kids wanted to do it, and they didn’t feel like giving back part of their “inheritance” to pay for an aid either.[/quote]

She is quite savvy.  She has a  condo too that she rents out.  Probably she will sell it in the near future. She is also getting a pension.  She is pretty good about nurturing care staff around her.  She pays for the cleaner, cook etc.  She has money to have an aide look after her, if need be.  She is very astute and she has kept the money for her care.  If she had less money, she would have kept the money and moved to assisted living etc.  She really has no illusions about the world.  First rule of thumb after you have given your kids a college education and they have launched is to be very comfortable in your retirement.  If it means that you live a frugal life to get there - so be it.  Don't be without money in your old age. [/quote]

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