SIGforum.com Main Page The Lounge It’s time to go to the retirement community. You have 2 choices which do you choose?
Main Page The Lounge It’s time to go to the retirement community. You have 2 choices which do you choose?Page 1 2
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| Big Stack |
Are we missing something here? Is there an ownership interest in #2 that isn't in #1, or something similar. If not, this is a no brainer. | |||
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| Raised Hands Surround Us Three Nails To Protect Us  |
Nope just a lower monthly rate. ———————————————— The world's not perfect, but it's not that bad. If we got each other, and that's all we have. I will be your brother, and I'll hold your hand. You should know I'll be there for you! | |||
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Happily Retired |
As mentioned earlier, If it were me I would just go the condo route. If you have ever been around the Lake here you know there are too many condos to count. Many of them are new, with great views. There would be a HOA and maybe maintenance on your AC equipment, but pretty much everything else would be covered. .....never marry a woman who is mean to your waitress. | |||
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| Member |
You said they are identical except for the stated costs. You would have to be a brain dead idiot to go with option 2. No math could support that choice with any reasonable set of parameters. This question almost feels like you are fucking with us it is so easily determined. Option 1. Buy rental property or put it in the market and ride the wave. I would buy rental property. simpler choice is those I bonds or some such long term choice. (I don't know as much about those as I should, I have some grandkid money I need to invest for them and that research is on my to do list) | |||
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Member |
Is option 2 supposed to read $20,000 buy in? 10 years to retirement! Just waiting! | |||
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Member |
The question I have is; when is the projected move in date? If the move in date is 10-15 years down the road, then option one seems to be the much better option. But if the move in date is sometime next year, then for me, that changes the equation. In that case you save $900 per month, plus the $5,000. Of course there is no return on that $220K for the next year, but the $5,000 saved will offset that. And the $900 per month will make up for it fairly quickly. | |||
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| Raised Hands Surround Us Three Nails To Protect Us |
Condo is not an option. Due to unplanned circumstances ownership responsibilities are not in the cards and ease of movement to higher levels of care are a must.
I am pretty set in Option 1 being a no brainer just want to get the feel if others thought differently. I like the idea of having the money available if needed even if it is not making a large return.
Nope.
Ready to move in 6 months ago just waiting on an opening. ———————————————— The world's not perfect, but it's not that bad. If we got each other, and that's all we have. I will be your brother, and I'll hold your hand. You should know I'll be there for you! | |||
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Member |
Option 1 is the way to go. At 5 years your out of pocket will roughly be (check my math  ):
At 10 years
** My interest calculations were on 220K - they should probably be on the remaining 215K, but the results are similar. | |||
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| Member |
Or, you could look at it this way. Putting $215K into a nearly risk free investment and making 10800 (or 5%) on that investment every year. 20 years later you get your principle back and you've saved $216K in rent. | |||
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SIGforum.com Main Page The Lounge It’s time to go to the retirement community. You have 2 choices which do you choose?
Main Page The Lounge It’s time to go to the retirement community. You have 2 choices which do you choose?© SIGforum 2024