Reply to Where do older people go that don’t have money?

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[quote=Anonymous][quote=Anonymous]As PP pointed out, a lot depends on whether they had equity in a home.  If they own a home, can scrape by on social security checks until medical needs are too great, or can get a reverse mortgage or sell.  
[/quote]

You assume the house is worth anything. My grandma owned her home where she lived for 75 years. The house was and confines to be worth about $10k in a major urban city. She lived on social security with my mom who eventually went on social security after medical leave in her 60s. They made things work having high of them. It got bad when the company that grandma worked for went bankrupt and then the pension and company insurance also disappeared.

It’s hard as a single person on social security. “Helps” though that insurance companies will no longer insure houses in the neighborhood. She also pays 3xs more for car insurance than I paid in Arlington and Alexandria (not old town). Mail and porch theft means that you really need to know when packages especially those carrying your meds will arrive.

Right now she can afford to do somethings that she couldn’t afford to do if she was in a retirement community. She prefers to take the devil you know with the neighborhood situation versus subsidized senior housing. She is still involved with friends and family there, so to move her here would remove her from her social circle. We don’t socialize much and she’d be really miserable.

It’s totally fun OP.[/quote]

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