WSJ: A Retirement Wealth Gap Adds a New Indignity to Old Age

[daylatedollarshort]

OK, I get it now. Somebody started a volunteer group to clean homes and run errands for the elderly. Since this sort of volunteer work is low on your list, you became incensed with the idea and decided the elderly should take out reverse mortgages or move.

I am not incensed but it seems to be a hot button for you. I do think was weird for someone I don't know to contact me and try to convince me to to clean houses for free for millionaires living in 4+ bedroom houses.

Most of our friends and many posters on this forum who wanted more cash for retirement downsized or moved to lower cost of living areas. Just changing school districts here to lower rated schools and moving a few blocks can mean ~$300K difference in home prices. Some of our neighbors have moved when their kids entered or graduated from public schools. I would do that before I would solicit strangers to clean my house for me for free. The city already has free transportation for seniors for errands and medical appointments.

 

[Fedup]

I am not incensed but it seems to be a hot button for you. I do think was weird for someone I don't know to contact me and try to convince me to to clean houses for free for millionaires living in 4+ bedroom houses.

Most of our friends and many posters here who wanted more cash for retirement downsized or moved to lower cost of living areas. Just changing school districts here to lower rated schools and moving a few blocks can free up ~$300K. I would do that before I would ask strangers to clean my house for me for free. The city already has free transportation for seniors for errands and medical appointments.

Simple, you are not as selfless as you claim sometimes here, lol. While I wouldn’t clean anybody house, I don’t even clean mine. But I wouldn’t mind cleaning somebody’s yard, I’ve been doing that to my sister’s.

 

[Gumby]

How about if we all make a real effort to avoid the personal comments? Thanks.

 

[redduck]

^^^ agreed... not sure where bolded part cam from... might have been redduck's comment and he mistakenly put it in the quoted part.

Yes. the bolded part was my comment. I did write "emphasis by redduck." in the post. Obviously it wasn't clear. I will try again.

 

[MichaelB]

HOAs have upsides

Just checking my email and saw my bill from Comcast. Our HOA has a community wide contract with Comcast for basic cable, so I pay for the HD set top box and internet. Starting this month, the HOA is providing that as well - with no change to the assessment. That should save us close to $800 next year.

 

[redduck]

Quote:
Originally Posted by daylatedollarshort

"We don't have a HOA but the current housing prices in California combined with Prop 13 make for some eclectic neighbor mixes. We have elderly residents in our neighborhood in homes with peeling paint, falling down fences and dead lawns next to yuppie families with remodeled houses, manicured lawns and a Tesla and BMW in the driveway. "

redduck: So you're saying that elderly homeowners should take out a reverse mortgage or move because their neighbors have a Tesla and a BMW in the driveway? Do you even understand this? And besides, what are those cars doing in the driveway anyhow, shouldn't they be in the garage?

emphasis by redduck

Quote:
Originally Posted by daylatedollarshort
"My point is someone asked me to clean houses for free for people I don't know who are living in large, seven figure homes. I would rather spend my volunteer time or money to help the truly needy, not people sitting on $1M plus in assets. Of all the charities in our area asking for time or money, millionaires are pretty low on my list for charitable giving. YMMV."

redduck:OK, I get it now. Somebody started a volunteer group to clean homes and run errands for the elderly. Since this sort of volunteer work is low on your list, you became incensed with the idea and decided the elderly should take out reverse mortgages or move.
__________________
When the people shall have nothing more to eat, they will eat the rich--philosopher Jean-Jacques Rousseau

 

[NW-Bound]

Now, we can understand how the conflict reported in the article in the OP blossomed into a war with death threats and all.

 

[Fedup]

Hey, there’s a rat here I can send you, the head will not be removed for your viewing pleasure.
J/K, my husband just found out we caught one last night.

 

[Souschef]

Here is an example. The house in the center was built in 1946 and is worth over $2 million as a tearown. The original houses on either side were torn down and McMansions erected.

The owner in the middle house is 81 years old and is living on social security
Nope.it is not me. I live in a trailer down by the river (Chris Farley)

 

[NW-Bound]

Here is an example. The house in the center was built in 1946 and is worth over $2 million as a tearown. The original houses on either side were torn down and McMansions erected.

The owner in the middle house is 81 years old and is living on social security...

Does that owner need free home cleaning too?

 

[Fedup]

Does that owner need free home cleaning too?

I think the owner works as a house cleaner to the 2 McMansions. She’s probably needs a free home cleaning because she’s too tired after cleaning the neighbors.

 

[daylatedollarshort]

Now, we can understand how the conflict reported in the article in the OP blossomed into a war with death threats and all.

We don't have any HOA fees so our neighborhood is actually pretty friendly despite some big differences in incomes. We do help out an elderly neighbor couple each week with some of the outside work. But these are people who live near us and are our friends.

The biggest conflict in our neighborhood has been that some of the people are anti-development NIMBY (not in my backyard) types.

 

[aja8888]

Whatever you do with "old people" in California and neighbors that won't do "this and that", please stay there and don't move to Texas!!

(We have snakes, spiders, hot weather, cowboys and bbq here and none of this fits your lifestyle of McMansions, Teslas, expensive clothes and keeping up with the Joneses)

NBow, be nice to each other or a pig will surface!

 

[Fedup]

No Armadillo?

 

[Huston55]

Whatever you do with "old people" in California and neighbors that won't do "this and that", please stay there and don't move to Texas!!

Too late. Already moved from The RoTx to NorCal. Happy to visit family but, no chance of ever moving back. So, you all & the critters are safe.

 

[NW-Bound]

Hey, there’s a rat here I can send you, the head will not be removed for your viewing pleasure.
J/K, my husband just found out we caught one last night.

No thanks. I have caught plenty of roof rats in my attic, the last one being more than a year ago.

Your husband should step up his effort. Rats are like cockroaches. If you see/catch one, there are more that you don't see.

Can your HOA help with this problem? Roof rats often live in one home, and come for food at another house. You will need a coordinated effort to get rid of them.

 

[Fedup]

No thanks. I have caught plenty of roof rats in my attic, the last one being more than a year ago.

Your husband should step up his effort. Rats are like cockroaches. If you see/catch one, there are more that you don't see.

Can your HOA help with this problem? Roof rats often live in one home, and come for food at another house. You will need a coordinated effort to get rid of them.

No, but if they do my HOA will be doubled forever. Thanks but no thanks.

 

[NW-Bound]

I have been living here for 43 years. No problem with roof rats throughout the metropolitan area until the first one was discovered in 2002 in one part of town. Now, they are all over the metropolitan of nearly 5 million people. It is believed that they hitchhiked on trucks coming from adjacent coastal states. They cannot cross the desert by themselves.

 

[HFWR]

All this wailing and gnashing of teeth over a frickin’ $30k pickle ball court...

 

[Music Lover]

All this wailing and gnashing of teeth over a frickin’ $30k pickle ball court...

It was $300k, not $30k.

 

[Scuba]

I’m sure it varies based on location and other factors, but I did an analysis of sales velocity and pricing over the last year for 3 comparable oceanfront complexes within a few blocks of each other. The complex with the highest HOA dues that has invested in the nicest services and amenities has had 11 sales in the last year with average days in market of only 41. The complex that has done some upgrades and has the second highest HOA dues has had 4 sales and average days on market of 108. The complex that has focused on keeping costs down and has the lowest HOA dues but little investment in upgrades only has one sale in the last year that was on the market for 120 days. Other units went on the market but never sold.

Not advocating a $300K pickleball court, but low HOA dues and low investment in upgrades aren’t helping units sell in this Southern CA beach town.

 

[pb4uski]

Yup.... false economy.

 

[RobbieB]

So Cal is all about the glamour. You got it...or you're down the road.

 

[HFWR]

It was $300k, not $30k.

Oops, typo, but $300k for a pickleball court? That’s not the same as arguing that the roof should or shouldn’t be replaced, or the pool cleaned...

 

[Huston55]

Bigger Worries than a Pickle Ball Court

Referencing the facility in the story from the OP, I’ve been following this a bit, and it looks like Oakmont has much bigger worries than whether to build new amenities. In the state’s latest inspection report (conducted in early Sep 2018 & recently released on the State’s website), they were found guilty of six Class A infractions and, their license status is “Revocation Action Pending.”

https://www.pressdemocrat.com/news/8716953-181/fountaingrove-senior-homes-could-live?sba=AAS