Search found 6 matches

by AveryAUSTIN
Mon May 29, 2017 8:17 pm
Forum: Investing - Help with Personal Investments
Topic: Managing My Elderly Moms Portfolio
Replies: 13
Views: 2128

Re: Managing My Elderly Moms Portfolio

The independent facility my mom is in is a Brookdale facility. There is no buy in just monthly rental of the unit which includes meals, utilities, cable, & transportation to Dr appts/etc if needed. She is in the second smallest 1 bedroom unit...750 sq ft...$6100/mth. There are definitely cheaper...
by AveryAUSTIN
Mon May 29, 2017 12:19 pm
Forum: Investing - Help with Personal Investments
Topic: Managing My Elderly Moms Portfolio
Replies: 13
Views: 2128

Re: Managing My Elderly Moms Portfolio

Thanks dbr for the additional suggestions and insights..great idea. Will start with her current facility which also offers Assisted Living and Nursing Care to understand a long term view. I certainly want to make sure my moms golden years are special...she deserves it.
by AveryAUSTIN
Mon May 29, 2017 11:46 am
Forum: Investing - Help with Personal Investments
Topic: Managing My Elderly Moms Portfolio
Replies: 13
Views: 2128

Re: Managing My Elderly Moms Portfolio

Yes doubting our decision a bit of her moving into this costly independent living facility possibly a little too early at age 81 (6+K mth rent). The problem is she has already developed a circle of new friends, can still live a good quality independent life with lots of activities, and is a great sa...
by AveryAUSTIN
Sat May 27, 2017 6:46 pm
Forum: Investing - Help with Personal Investments
Topic: Managing My Elderly Moms Portfolio
Replies: 13
Views: 2128

Re: Managing My Elderly Moms Portfolio

Thanks, doing my due-diligence on SPIA's. Seems to be a great solutions considering our circumstances.
by AveryAUSTIN
Sun May 21, 2017 7:16 pm
Forum: Investing - Help with Personal Investments
Topic: Managing My Elderly Moms Portfolio
Replies: 13
Views: 2128

Re: Managing My Elderly Moms Portfolio

Thank you everyone very much for the feedback. I think we are going to go down the road of doing a 300K SPIA or DIA to generate my 83 yr old mom a monthly income between $2900-$3800. This will slow the burn of her remaining cash and provide her a lifelong stream of cash even though we will supplemen...
by AveryAUSTIN
Thu May 18, 2017 10:26 am
Forum: Investing - Help with Personal Investments
Topic: Managing My Elderly Moms Portfolio
Replies: 13
Views: 2128

Managing My Elderly Moms Portfolio

My mother is good health 83 yr old who lives in an independent living facility with a current burn rate on her money at $80K per year after social security income (current Net Worth $770K). Me and my 3 brothers understand that she will eventually exhaust her finances and we will be able to cover her...