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It may, but there also might be "clauses" that require you to spend out your financial assets down to around $5000, before your benefits kick in. Also, if you're thinking about going the "Medicaid Route", claiming you're broke, they look back 5 years, to see where your assets were allocated/spent.
Very true! It's not like strokes and other illness can be predicted or timed.
Also the real problem of giving your house to a child - what happens when they divorce and their spouse receives the house or half the value of the house?
A friend's grandmother gave her a house and after a short marriage, her husband duped her by taking a sizable portion of the house's value. She was close to homelessness. Very sad.
We had sufficient term life insurance to cover paying off mortgage and projected college tuition for four years. Both of us also had life insurance as a multiple of salary from employers.
I've heard of some ugly situations of parents giving a house to one sibling but not the other. This happened to some folks I know. house was left to one child. Just seems wrong that the wife of one of the grandkids can benefit from the house...but then other blood related kids and grandkids were left out.
I am a child of older parents. My dad was in his mid 50s and my mom in her mid 40s. They both looked younger for their ages, but in those days, most people got married when they were 18-20. When my mother had me around, they would look at her and ask is that your . . . and my mother would proudly interject, "yes, my daughter." You could see the wheels spinning and the questioner would make the assumption that my mother was younger than originally thought. That was a boost for my mom's ego.
In kindergarten, there was another child was also the child of older parents. I am still friends with her today. She has nephews who are older than her and has siblings 22 and 25 years older than her. My own child has a friend, whose sister is 18 years older, a product of the mother's first marriage.
It's a mixed bag. One the one hand, my parents were more relaxed about parenting since my older siblings broke them in. They were also more stable financially. My father was always an athlete, but he never rough-housed with me. He did teach me to swim and played tennis with me. He retired when I was in high school because there was a mandatory retirement age at his job. But he would have worked until the very end if he could because he loved his job.
For me, the bad part came later. When I was in my early 30s, I had to become a caretaker and my dad passed away after living a very long life. I also had a toddler at the time and I was squeezed between them. It was a horrible situation and I thought I was going to lose my mind. None of my friends were in this situation and I had to seek advice from people in their 50s to find out about medicare, homecare, nursing homes, and all the other necessary things for older people. I gave up career opportunities for family responsibilities and it cost me financially. I am feeling the pinch now and I will for the rest of my life.
My wife was a teacher, all of her adult life. She taught 1st grade, for most of that time, and every year, she'd be amazed when "parent teacher conferences" were scheduled. 1st graders, by convention, are 6 years old. In meeting with the "mothers" of these students, my wife used to be shocked to find out that many of them were 22-23 years old. Do the math!!
And they wonder why we have issues within our cities!!
Right!! Because teenagers who live outside cities never have sex!
Right!! Because teenagers who live outside cities never have sex!
Where, EXACTLY, did I say that??
But realistically, do you ever read the newspapers? Most of the statistics that are published, point to a higher rate of teen pregnancies in urban areas.
But realistically, do you ever read the newspapers? Most of the statistics that are published, point to a higher rate of teen pregnancies in urban areas.
I find that hard to believe...sure they likely do happen in urban areas...but what about rural poor areas where there isn't much to do ??
My daughter is turning 40 and I'm 75. We married later than other friends we knew. My wife was 41 as a new mom. She had one doctor who refused to take her on as a patient because she was an "elderly primigravida" -- first pregnancy after 35. It was risky but we had no problems. My wife passed when my daughter was 23. That was way too soon.
We lived in a small town and were the "cool" parents -- stable in life and careers and without the chaos that you sometimes see in younger families. We were older than other parents at daycare, PTA, and dance class. Apart from that, there were no differences. We traveled regularly on vacations. I retired early at 52. We could afford things better at our age.
My boss had four kids by the time he was 26 and was just as happy and successful in that situation as we were in ours.
Very true! It's not like strokes and other illness can be predicted or timed.
Also the real problem of giving your house to a child - what happens when they divorce and their spouse receives the house or half the value of the house?
A friend's grandmother gave her a house and after a short marriage, her husband duped her by taking a sizable portion of the house's value. She was close to homelessness. Very sad.
but isn't in marriage the assets acquired before marriage are not split ?
I am a child of older parents. My dad was in his mid 50s and my mom in her mid 40s. They both looked younger for their ages, but in those days, most people got married when they were 18-20. When my mother had me around, they would look at her and ask is that your . . . and my mother would proudly interject, "yes, my daughter." You could see the wheels spinning and the questioner would make the assumption that my mother was younger than originally thought. That was a boost for my mom's ego.
In kindergarten, there was another child was also the child of older parents. I am still friends with her today. She has nephews who are older than her and has siblings 22 and 25 years older than her. My own child has a friend, whose sister is 18 years older, a product of the mother's first marriage.
It's a mixed bag. One the one hand, my parents were more relaxed about parenting since my older siblings broke them in. They were also more stable financially. My father was always an athlete, but he never rough-housed with me. He did teach me to swim and played tennis with me. He retired when I was in high school because there was a mandatory retirement age at his job. But he would have worked until the very end if he could because he loved his job.
For me, the bad part came later. When I was in my early 30s, I had to become a caretaker and my dad passed away after living a very long life. I also had a toddler at the time and I was squeezed between them. It was a horrible situation and I thought I was going to lose my mind. None of my friends were in this situation and I had to seek advice from people in their 50s to find out about medicare, homecare, nursing homes, and all the other necessary things for older people. I gave up career opportunities for family responsibilities and it cost me financially. I am feeling the pinch now and I will for the rest of my life.
I'm sorry you went through this , did your older siblings help you out ?
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