Reply to Decent place to live on disability $150k

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[quote=Anonymous][quote=Anonymous]I'd be wary of a condo, since fees may increase over time to a degree which exceeds any corresponding annual COLA increase in income.  Condos can also be subject to unplanned special assessments of almost any dollar amount.  In other words, a condo entails more financial risk than some alternatives.

It may make more sense to buy something less expensive, e.g., a manufactured home on an inexpensive lot in a rural area, leaving some principal to be invested conservatively as an emergency fund.  People on very constrained incomes can easily be in trouble if even a small unplanned or unanticipated expense arises, so consider setting aside a sum as a reserve instead of putting everything into housing.

As to where to move, most rural areas in most states are quite inexpensive.  Proximity to larger towns/cities almost always means higher housing costs.  With no need to commute to employment, it should be possible to find an affordable  place quite distant from urban centers.  Of course that also means distant from most amenities and conveniences, but with a limited budget and a limited income the tradeoff is necessary unless shared housing is an option.   [/quote]

You can't be on SSI and have an emergency fund. If you have more than 2k in assets (excluding home and a few other categories), you are ineligible for SSI [/quote]

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