It would be more practical to stay in your home. (I still have a mortgage, but in 20 years I won’t). Once the mortgage is paid, my insurance is 1301 a year and the taxes are 2100 a year (in Florida for 2,000 square foot single family). Even if they taxes triple, it would still be cheaper. When he needs assistance, he could sell his him and have enough to stay at the facility till death.
“It would be more practical to stay in your home.”
In some ways. But day-to-day living can be daunting if you’re dealing with arthritis, back issues, sight problems, and other medical issues. Technically, you CAN hire someone to clean, cook, shop, drive, and maintain property. There’s a slim chance you can find one dependable person to do all of those things, but most likely it will require hiring five or six separate people to do that, and coordination is a headache.
All of that is done for you on a ship or in a hotel. There’s a lot to be said about less stress. We seriously considered retiring on a ship, but can’t until our pets are gone.
Dang. Taxes on smaller old dinky houses in TX can be 4 times that much. Every year for the past 25 years, ours has gone up 10%. That alone makes you hope you don’t live very long.