Where Will You Live When You're 75?

Robin, I have planned for a time when either my wife or I will be a survivor. I bought 2 studio condos in center city Philadelphia which we presently rent out for a nice additional income but when we are alone, what we would need most is a place near stores, restaurants, entertainment, public transportation, a cab stand and some of the best hospitals on the face of the earth. Its funny, but the hospital in which I was born is 3 blocks away. What a turnaround if I should expire there as well. That would be completing a circle!

The building has 334 units and a 24 hour desk staff. The local food stores and restaurants all deliver for a few dollars and a tip. There is usually a police officer stationed within 100 feet of the building. There is a laundry room in the basement as well as a health club. The staff has a copy of everyone's key in case of emergencies. I'm sure that the desk person, for a small remunerance, would check in every day to make sure you are breathing. There are smoke alarms and a built-in chemical system to put out fires. Trash rooms are on every floor of this 16 story building that was formerly a hotel.

Since they are paid for, the overhead is under four hundred dollars a month for the condo fees and taxes which includes all utilities and cable television. Even allowing for inflation, they are reasonable and one would continue being a source of rental income. One has a tub and the other a walk-in shower. Nice to have a choice.

There is a maid service which will do a weekly cleaning for under $50 ... heck, the units are only 400+ square feet but in old age, who needs space?

Nothing is perfect when you are very old and frail but still have all your marbles, but to us, this is heaven on earth.

Presently, we live in a lovely condo in the suburbs that allows us easy access to the city by car or high-speed line with parking and a low-cost train. Shopping is a few minute drive so for our healthy sixties, it is perfect.

Age has a way of dealing us uncertainty so, we are trying to offset it with planning that, if not needed, will give us a nice income and if needed, a place to live that has all the conveniences and the lowest cost possible for the location.

My wife and I never enjoyed living in large homes after many years of doing so. We found that most of the space was simply a way to show others that we had "arrived." Frankly, their port is someplace we are happy to depart. It is shallow and hedonistic which we are not. Space to us is on an as-needed basis. We each have an office - perfect for writers. We have no den - we are not bears or raccoons. We have a living room and we live in it. Our offices give us the privacy. They are small because we don't entertain in them; they are work rooms and hidey holes for that privacy everyone needs and deserves.

Since there will be only one of us, the condos are perfect. Or, we could have his and hers. The only issue would be who gets the top one. But we plan to stay where we are as a couple.

We are in the process (over the next two years) of relocating our family farm due to "progress" and the growth all around us. Our youngest son and his wife plan to take over the farm (the new one) as time goes on. We will be building a house on the new farm, all on one level, with the intent of that being where we stay when we do retire. We are also putting an apartment on our new house so that we can take care of my husband's parents in the event that that becomes a necessity.

Never having lived in a city at all, my husband could no way ever adapt to that lifestyle. I grew up in a California city and could probably get used to city life again but would prefer not to.

Time will tell--hopefully we are both still healthy and able to function at a relatively competent state when we are 75 or older. If I were to be widowed, I am not sure if I would stay on the farm. I am a people person and to be isolated and living alone is something I couldn't handle.

INteresting food for thought--thanks for bringing it up!

I think Mr. Hefner sort of has it right.

But seriously, I have been looking at co-housing but the development by the city has not had any units for sale for years.

As a military retiree, there is NO way i want to go to a community where there a lot of other military retirees and where they and their spouses were so rank conscious. I am sure it does not change with age.

Probably a lot of other groups are the same. A commune sounds great until the self-elected leader assert themselves.

paulTD

I've talked about non-traditional living with some girlfriends who are nearing full retirement. We came up with a community of small, minimal homes: 1 bedroom, 1 bath, and a kitchen/living area. This community would have various shared buildings: a large kitchen/dining facility, art studio, organic garden, library, storage building, and a guest house with 2 or 3 bedrooms for visiting friends and family.

The big obstacle is finding a property that isn't remote and finding the right number of gals to support such a facility. For now, it remains a fantasy.

I am one of those people who could not say goodbye to the home I raised my children except in death. We are on a waterway and so will have the kids inherit anyway. Odd as it sounds I have had nightmares that we sold this house for one reason or another. I could not even drive by it in my nightmare. I have had it several times although not for some time. Perhaps if we turn it over the children before death I could see living in some sort of commune type setting.

Well, I'm already retired, already an empty-nester. But I can tell you that barring unforseen disaster, I will live in this house until the day I die. I will not, not pack/unpack and move again if I can possibly avoid it!

(Husband would build a house, we'd move in. We'd sell at a profit, repeat the process. No more...no, no, no....)

We have friends that have done that too Azure and I feel so bad for them. They try to sound up about it and maybe they there is an upside for them. They have made money off of each one and enough to make it worthwhile but ??