I do, too! If I was to divide the property taxes and insurance on my home month by month, that wouldn't even cover it, let alone the rest of living expenses.
The reality is that at some point in time, we are either dead or need lots of help and support. I have wanted to buy land and develop it, but, the day is coming where I will not be able to do what it takes to live like that.
My uncle called me yesterday. He is in his 90's and has always been very independent. He still drives and he and his wife go to mass daily, walk 3 miles a day, and until very recently lived in their own home that they bought in the 1970's. Their children urged them to move into a senior apartment. Home is almost on the market after a good year's work to move out and get it ready to sell. They would have stayed in their house except it is built in the side of a hill. The driveway and garage are the lower level, and when you enter the house, you have to climb a flight of stairs to the main living area where the kitchen, living room, dining room and bedrooms are. Ranch style homes is what senior citizens should live in, with everything on the ground level floor. Or, have an elevator! What does that cost?
Uncle talked about how the world is going downhill quickly. I told him that we know all of our days are numbered, and for older people like them who have lived a good life, whatever comes will come and those of us who are older can pass on peacefully, knowing we have had a good life in comparison to the rest of the world and those before and after us.
I remember years ago reading and hearing about those who are our generation living a life of spending, doing, and having whatever they wanted but not saving money. I see that frequently. How do you have a home worth more than a million or even a couple million dollars and in a couple years, you have lost or because of need, sold the home and now have no money? For the people I know, and there is more than one situation like this, they had money, unlike some of us who lived paycheck to paycheck, but also scrimped and saved and worked as many side jobs as we could, but they spent money on what they wanted with no thought about preparing for the future and old age. How do you live like that and then in your late 50's or even 60's lose your home because you never planned and prepared for your financial future? I have asked: "Why didn't you have a financial advisor?" "Because we didn't want anyone telling us what we could or couldn't do with OUR money."
I knew a women who died recently. I do not know all of her health issues. She was in her 70's. She and husband rubbed elbows with wealthy people, but lived in a small home. The wealthy wanted to go skiing in Europe, so to finance their trip to Europe to ski, they did a reverse mortgage on their home. As they aged, she could no longer go upstairs to their bedroom, the only one in the house, because of her health. But they didn't own their home, so they couldn't sell it and buy a place that would have been more suitable. When she died, we were questioning if there was any money for a funeral? No! Was there money for cremation? No! But they went skiing in Europe decades ago and were actually in some ways, still paying for that!
