Recently I was told of a person who was retired and decided to live in a retirement home of sort as initially there didn’t seem to be a point in living in a large home by himself and whenever something happened that required medical attention one would often find out a little late. So it just made sense to move to a place where he would be taken care of. That’s what got me thinking as I was learning how he was spending about $4000 a month to live there which seemed outrageous.
Can you imagine that during a retirement where you pay $4000 a month where it almost feels like a regular family trying to pay a mortgage? Except in this case there is no return of investment of any kind. Apparently he didn’t enjoy living in the place and so with how much he spent it was actually suggested that he move in with a family member instead and possibly invest that into them to get things like a bigger home to accommodate him.
No wonder why I read those stories of retirees deciding to live on cruise ships instead as it just seems to make way more sense financially if you are spending that much each month. People usually save money in preparation for retirement. But in this case maybe planning how you are going to spend it too would be a great idea.