Help my friend live longer (or at least stay solvent)
April 27, 2022 12:54 AM Subscribe
I'm trying to help a family friend who is facing a life and financial crisis late in life:
She is older (70+), and her husband just passed away unexpectedly, leaving her without a monthly income. Life insurance has left her a small nest egg (about $200K), and she owns her home, but social security is her only revenue. Her monthly budget is about $3,600.
What should she do with her cash, and how else might she get income or reduce her costs? (more below....)
She can't afford to take big risks with her cash, but she must try to get as much income as possible. Without more income, she would run out of cash in about 5 years.
I'm thinking that her only options are a Vanguard fund (target retirement fund? or an established fund like Windsor, Wellesley or Managed Allocation?) to get some return without too much risk. Annuities seem like a trap in this case, am I wrong?
Also, family members have offered to do a kind of reverse mortgage deal where some of her living costs were covered and she would keep her home during her lifetime. Have any of you come across such deals, and are they fair for the older person? (It worked out great for Jeanne Calment who ended up being one of the oldest persons alive - but my friend is not likely to be in that situation given her poor health).
In short, how should a person with meager assets invest her assets to get some return when they can't risk losing their shirt?
In time, she may start doing things that bring her some additional income (she used to do counselling and might start doing that again), but for now I just want to help her feel a bit more secure financially.
My friend is no stranger to adversity, as she's struggled most of her life, and she has kept a sense of humor about all this, but it's still a very tough break.....
Any advice (financial or otherwise)? If any of you have any advice on how to cope with a late-life crisis, that would be really helpful too.
She can't afford to take big risks with her cash, but she must try to get as much income as possible. Without more income, she would run out of cash in about 5 years.
I'm thinking that her only options are a Vanguard fund (target retirement fund? or an established fund like Windsor, Wellesley or Managed Allocation?) to get some return without too much risk. Annuities seem like a trap in this case, am I wrong?
Also, family members have offered to do a kind of reverse mortgage deal where some of her living costs were covered and she would keep her home during her lifetime. Have any of you come across such deals, and are they fair for the older person? (It worked out great for Jeanne Calment who ended up being one of the oldest persons alive - but my friend is not likely to be in that situation given her poor health).
In short, how should a person with meager assets invest her assets to get some return when they can't risk losing their shirt?
In time, she may start doing things that bring her some additional income (she used to do counselling and might start doing that again), but for now I just want to help her feel a bit more secure financially.
My friend is no stranger to adversity, as she's struggled most of her life, and she has kept a sense of humor about all this, but it's still a very tough break.....
Any advice (financial or otherwise)? If any of you have any advice on how to cope with a late-life crisis, that would be really helpful too.
What are her monthly costs? Does she have debt? I've never spent 3600 a month so that figure actually seems fairly high to me, but I don't know what her current expenses are.
Has she considered speaking with a financial advisor who understands the needs of retirement? (The kind of advisor you pay per consultation, not the kind who makes a commission off of what they sell you and therefore has incentive to sell things profitable to them.)
posted by trig at 1:43 AM on April 27, 2022 [6 favorites]
Has she considered speaking with a financial advisor who understands the needs of retirement? (The kind of advisor you pay per consultation, not the kind who makes a commission off of what they sell you and therefore has incentive to sell things profitable to them.)
posted by trig at 1:43 AM on April 27, 2022 [6 favorites]
I've never even earned 3600, at least but after deductions, you need to look over that budget figure again. Making your money go further always starts with minimizing your costs and if she owns her housing the only thing i can think of is some very rare and expensive medicine?
posted by Iteki at 1:49 AM on April 27, 2022 [5 favorites]
posted by Iteki at 1:49 AM on April 27, 2022 [5 favorites]
Is her house suitable for her? Can she downsize? Are there family members she could move in with? Keep the house but rent it out (with another rental to live in?). Real estate is such a huge chunk of illiquid cash, I would highly suggest playing around with those options first.
posted by socky_puppy at 2:13 AM on April 27, 2022 [5 favorites]
posted by socky_puppy at 2:13 AM on April 27, 2022 [5 favorites]
Echoing others on $3600. In some metro areas, $3600 isn’t a lot. If it’s a high COL area, can she (I know it’s a hard idea to grapple with for many) move to a lower COL area? If nothing else, it would be a good idea to see if she’s willing to do an audit of her monthly expenses to figure out what can go, if anything. Medical, etc. is another question, but many budgets develop some bloat or waste over time.
posted by cupcakeninja at 2:47 AM on April 27, 2022 [2 favorites]
posted by cupcakeninja at 2:47 AM on April 27, 2022 [2 favorites]
Response by poster: Thanks for the answers so far!
To address the questions above: She gets $1,200 social security a month. The $3600 is her total costs, which includes $900 maintenance and utilities on her home (she lives in a senior housing community with high costs).
So after social security she's out $2,400 a month.
posted by Bigbootay. Tay! Tay! Blam! Aargh... at 2:48 AM on April 27, 2022
To address the questions above: She gets $1,200 social security a month. The $3600 is her total costs, which includes $900 maintenance and utilities on her home (she lives in a senior housing community with high costs).
So after social security she's out $2,400 a month.
posted by Bigbootay. Tay! Tay! Blam! Aargh... at 2:48 AM on April 27, 2022
So she's spending $2700 on things other than maintenance and utilities? This still seems quite high, will she share with you where it's all going so you can help her try and find economies? Sorry to harp on the same point as everyone else, but it seems an obvious place to start to make her money last longer.
posted by penguin pie at 2:55 AM on April 27, 2022 [9 favorites]
posted by penguin pie at 2:55 AM on April 27, 2022 [9 favorites]
Was her husband collecting social security? She may be eligible for a raise to the amount he was collecting.
posted by domino at 3:00 AM on April 27, 2022 [11 favorites]
posted by domino at 3:00 AM on April 27, 2022 [11 favorites]
Or if he wasn’t she may still be entitled to something. Worth asking if she hasn’t.
posted by domino at 3:03 AM on April 27, 2022
posted by domino at 3:03 AM on April 27, 2022
If she was married for at least ten years then she is entitled to her husband’s full social security amount (but not on top of her own).
Can she take in a roommate?
posted by HotToddy at 3:05 AM on April 27, 2022 [1 favorite]
Can she take in a roommate?
posted by HotToddy at 3:05 AM on April 27, 2022 [1 favorite]
Response by poster: Yep, all good points as well:
- Some of her costs are high because of where she lives (in the middle of nowhere in Southern California. Her husband needed to live there because his extended family lived on a nearby reservation (his income was tribal related but she can't inherit it because she isn't considered a member of the tribe by marriage). The area is poor, so she is gouged on a million little costs. But she would find it hard to move (lack of community elsewhere and other areas have hig housing costs too, it seems).
- She was able to get her husband's full social security instead of her own. Still not much though because he was poor as well.
- Her place is small, so getting a roommate would be hard (that and the fact she is old and has limited mobility). But her home equity is $250,000. But if she sold, she'd have to live elsewhere, wouldn't she? Would it be smart to sell and rent? Also, that's why the reverse mortgage type arrangement seemed like a possibility (but is it a good idea?)
posted by Bigbootay. Tay! Tay! Blam! Aargh... at 3:16 AM on April 27, 2022
- Some of her costs are high because of where she lives (in the middle of nowhere in Southern California. Her husband needed to live there because his extended family lived on a nearby reservation (his income was tribal related but she can't inherit it because she isn't considered a member of the tribe by marriage). The area is poor, so she is gouged on a million little costs. But she would find it hard to move (lack of community elsewhere and other areas have hig housing costs too, it seems).
- She was able to get her husband's full social security instead of her own. Still not much though because he was poor as well.
- Her place is small, so getting a roommate would be hard (that and the fact she is old and has limited mobility). But her home equity is $250,000. But if she sold, she'd have to live elsewhere, wouldn't she? Would it be smart to sell and rent? Also, that's why the reverse mortgage type arrangement seemed like a possibility (but is it a good idea?)
posted by Bigbootay. Tay! Tay! Blam! Aargh... at 3:16 AM on April 27, 2022
100% this is exactly what financial advisors or planners are for. There are so many options that strangers on the internet don’t know about, and they’d be able to discuss all the risks/benefits of a reverse mortgage. Mine (and most) also know how to maximize income by also taking taxes into consideration and minimizing tax liability for any possible plan. You could pay a one-time fee to have someone go over her budget, assets, and present options in a very user-friendly way, and do a check-in if anything has changed. Mine charges a flat percentage rate on my returns, so she’s incentivized to get me high returns (which I do) and minimize risk. I had a few video calls to interview some and it’s been a great experience. So much time and worry saved, and worth every penny.
posted by blazingunicorn at 3:59 AM on April 27, 2022 [3 favorites]
posted by blazingunicorn at 3:59 AM on April 27, 2022 [3 favorites]
The "standard" safe withdrawal rate for circumstances including an early bear market and high inflation (both of which currently apply) has historically been 4% for a 30 year retirement. That's based on the original Trinity Study, updated by Bill Bengen and others in their more recent work.
That gets her $8k a year from her $200k portfolio or only $666 a month which leaves her with $1800 a month to get elsewhere.
Yes, it would seem that some kind of properly structured reverse mortgage is her best option to get more income. Obviously that means there won't be any inheritance from the $250k but it doesn't sound like that is an issue.
I'm not a reverse mortgage expert but a healthy 70 year old in the UK could get about £140k lump sum from a £250k property. If she is provably in poor health then she could get more, this will depend on when the lender thinks she will most likely die (a healthy 70 year old woman will on average live to 88 years). Is she in the kind of poor health where her lifespan is likely much lower or just her quality of living is degraded? Regrettably only the former is of any "use" to her in this case.
Of course, her family may be able or willing to do a better deal than what she could in the open market but as a guide to what the open market value is, this number may be useful - note again that this is a rough estimate based on the different UK market, she should look at what is available in her state and for her specific property.
I imagine the math isn't so very different in the US and it's pretty clear that adding 140k to 200k still isn't enough capital to generate a safe withdrawal of 28.8k / year which is what she needs. Realistically even doing that, she will either need to make additional income or cut expenses since there is no way that any kind of reverse mortgage on $250k equity is going to amount to $1800 / month.
She should indeed find a fee-only, fiduciary financial advisor in her area to advise her on specific options.
posted by atrazine at 4:08 AM on April 27, 2022 [5 favorites]
That gets her $8k a year from her $200k portfolio or only $666 a month which leaves her with $1800 a month to get elsewhere.
Yes, it would seem that some kind of properly structured reverse mortgage is her best option to get more income. Obviously that means there won't be any inheritance from the $250k but it doesn't sound like that is an issue.
I'm not a reverse mortgage expert but a healthy 70 year old in the UK could get about £140k lump sum from a £250k property. If she is provably in poor health then she could get more, this will depend on when the lender thinks she will most likely die (a healthy 70 year old woman will on average live to 88 years). Is she in the kind of poor health where her lifespan is likely much lower or just her quality of living is degraded? Regrettably only the former is of any "use" to her in this case.
Of course, her family may be able or willing to do a better deal than what she could in the open market but as a guide to what the open market value is, this number may be useful - note again that this is a rough estimate based on the different UK market, she should look at what is available in her state and for her specific property.
I imagine the math isn't so very different in the US and it's pretty clear that adding 140k to 200k still isn't enough capital to generate a safe withdrawal of 28.8k / year which is what she needs. Realistically even doing that, she will either need to make additional income or cut expenses since there is no way that any kind of reverse mortgage on $250k equity is going to amount to $1800 / month.
She should indeed find a fee-only, fiduciary financial advisor in her area to advise her on specific options.
posted by atrazine at 4:08 AM on April 27, 2022 [5 favorites]
Yes, moving and renting is a cost but her housing is already costing her a fairly high maintenance charge. Freeing up her capital and paying rent on a small place instead may well be a benefit.
But nthing that what she needs is an independent financial advisor. Yes, the consultation will cost money. But that person will be able to go through her financial information with her, will be able to explain different options to her and will be able to run numbers for each option.
If she is willing, you could help her find such a person, help her gather her financial information together so the can meet the person well prepared etc.
There may be local organisations or social workers working primarily with the elderly and they may have recommendations for financial advisors and have information for any other support available to her at this time.
This must be a very stressful time for her and it would be a blessing to hook her up with additional local support and help her as she navigates this and comes to a set up she feels comfortable with.
posted by koahiatamadl at 4:37 AM on April 27, 2022 [1 favorite]
But nthing that what she needs is an independent financial advisor. Yes, the consultation will cost money. But that person will be able to go through her financial information with her, will be able to explain different options to her and will be able to run numbers for each option.
If she is willing, you could help her find such a person, help her gather her financial information together so the can meet the person well prepared etc.
There may be local organisations or social workers working primarily with the elderly and they may have recommendations for financial advisors and have information for any other support available to her at this time.
This must be a very stressful time for her and it would be a blessing to hook her up with additional local support and help her as she navigates this and comes to a set up she feels comfortable with.
posted by koahiatamadl at 4:37 AM on April 27, 2022 [1 favorite]
Without more income, she would run out of cash in about 5 years.
my friend is not likely to be in that situation given her poor health
Sorry to ask the tough question, but: Realistically, how much longer is she going to be alive? You indicate she's not in great health. Solving for 5 years is a lot different than solving for 30 years.
Just for the most basic solution, assuming no change in living situation or spending patterns:
$200K life insurance + $250K reverse mortgage = $450K
$1200 monthly social security - $3600 monthly expenses = $2400 monthly negative cash flow
$2400 monthly draw on $450K cash will last 15+ years.
posted by NotMyselfRightNow at 4:40 AM on April 27, 2022 [5 favorites]
my friend is not likely to be in that situation given her poor health
Sorry to ask the tough question, but: Realistically, how much longer is she going to be alive? You indicate she's not in great health. Solving for 5 years is a lot different than solving for 30 years.
Just for the most basic solution, assuming no change in living situation or spending patterns:
$200K life insurance + $250K reverse mortgage = $450K
$1200 monthly social security - $3600 monthly expenses = $2400 monthly negative cash flow
$2400 monthly draw on $450K cash will last 15+ years.
posted by NotMyselfRightNow at 4:40 AM on April 27, 2022 [5 favorites]
I would absolutely review her budget and expenses with her first before going to a financial planner. $2700 a month after housing is quite a lot of spending for a single person in her 70s. I think if you look at where that money is going you’ll find a places to cut that won’t impact her lifestyle too much.
One thing you’ll want to focus on are recurring charges she may not know or remember she is paying. It is very common for older people to get scammed into signing up for expensive subscriptions and then just keep paying because they forget or don’t know how to cancel. Look for other ‘leaky’ parts of the budget as well. Is she sending a lot of money to her church? Providing support for a grandkid? That will need to end and one role you can play is to help her with the logistics of that.
posted by scantee at 4:52 AM on April 27, 2022 [14 favorites]
One thing you’ll want to focus on are recurring charges she may not know or remember she is paying. It is very common for older people to get scammed into signing up for expensive subscriptions and then just keep paying because they forget or don’t know how to cancel. Look for other ‘leaky’ parts of the budget as well. Is she sending a lot of money to her church? Providing support for a grandkid? That will need to end and one role you can play is to help her with the logistics of that.
posted by scantee at 4:52 AM on April 27, 2022 [14 favorites]
Here's a NYT article about reverse mortgages from earlier this month that lays out a few different ways to set up payment options. It also includes a link to a calculator to determine how large a loan she could get.
posted by Sweetie Darling at 5:26 AM on April 27, 2022 [1 favorite]
posted by Sweetie Darling at 5:26 AM on April 27, 2022 [1 favorite]
Some of her costs are high because of where she lives (in the middle of nowhere in Southern California.
I have no financial planning advice (besides that I'd tell her to meet with a professional - that's what I'd do), but I agree that $2700 a month for non-housing related costs still seems too high. I have never lived in California, so I can't speak to the location, but I've lived in a range of places (some known to be high-cost), and I'd say my non-housing costs per month have generally not been over $1000 a month. So I'd try to figure out what she's spending all of this money on - there is probably something she can cut down on.
posted by coffeecat at 6:58 AM on April 27, 2022 [2 favorites]
I have no financial planning advice (besides that I'd tell her to meet with a professional - that's what I'd do), but I agree that $2700 a month for non-housing related costs still seems too high. I have never lived in California, so I can't speak to the location, but I've lived in a range of places (some known to be high-cost), and I'd say my non-housing costs per month have generally not been over $1000 a month. So I'd try to figure out what she's spending all of this money on - there is probably something she can cut down on.
posted by coffeecat at 6:58 AM on April 27, 2022 [2 favorites]
Yeah, you really need to go over her monthly expenses/budget. I'm around the same age as she is and I have around 1,100/month after housing and car and live just fine. She may really enjoy the security of living in a senior community, many people do, so moving to and renting a cheaper place may not be a good idea for her. Surely there are reasonable ways to cut her expenses. Does she eat out a lot? Does she spend a lot on clothes and "beauty" services and products? Is she one of those women whose husbands handled all the finances? Something is not adding up here.
posted by mareli at 7:03 AM on April 27, 2022 [3 favorites]
posted by mareli at 7:03 AM on April 27, 2022 [3 favorites]
I'm in Southern California and that expenses number seems a little high and is worth reviewing for several factors. One would be just checking her utility bills for anything that seems hinky - they are eye-wateringly expensive here and much of the state just saw theirs jump up a bunch, but our awful utility companies also do the absolute most to "accidentally" overcharge to cover all their lawsuits for burning the state down/pay giant bonuses to criminally negligent asshole execs.
Another thing is they may have been paying for stuff that retired people should be able to obtain differently, like health insurance. Definitely re-evaluate and if she's not on Medicare/Medi-Cal do some research there.
Plus, those expenses were for two people. Her food and supplies costs will go down now, if they are paying for health insurance that should go down. Did they have two cars (also check their car insurance costs)? Did he have memberships, costly hobbies, anything that should be cancelled now?
I agree that moving might be a bad idea, given the cost of housing in California (and I'm assuming she's in the central valley or desert, where there's not a ton of housing inventory), because it'd be unlikely to find a nice apartment for less than $900 - and even if you adjust for lower utilities and go up to $1500-1700, that's not enough for an apartment in a senior community so she'd be giving up that component. Since she's in a senior housing community, you may have to check the HOA/covenants to see if anything like a reverse mortgage is even allowed. It's worth having the hard conversation with her about whether the home she's in now is too much house (especially if there's lawn/landscaping) to deal with, or if a housemate (note again that there will likely be covenants controlling if this is feasible and who is eligible) would be a good idea. Once you look at the utilities, that may be one of the deciding factors on next steps; they may just be unsustainably high and rates are not going to go down ever.
posted by Lyn Never at 7:51 AM on April 27, 2022 [4 favorites]
Another thing is they may have been paying for stuff that retired people should be able to obtain differently, like health insurance. Definitely re-evaluate and if she's not on Medicare/Medi-Cal do some research there.
Plus, those expenses were for two people. Her food and supplies costs will go down now, if they are paying for health insurance that should go down. Did they have two cars (also check their car insurance costs)? Did he have memberships, costly hobbies, anything that should be cancelled now?
I agree that moving might be a bad idea, given the cost of housing in California (and I'm assuming she's in the central valley or desert, where there's not a ton of housing inventory), because it'd be unlikely to find a nice apartment for less than $900 - and even if you adjust for lower utilities and go up to $1500-1700, that's not enough for an apartment in a senior community so she'd be giving up that component. Since she's in a senior housing community, you may have to check the HOA/covenants to see if anything like a reverse mortgage is even allowed. It's worth having the hard conversation with her about whether the home she's in now is too much house (especially if there's lawn/landscaping) to deal with, or if a housemate (note again that there will likely be covenants controlling if this is feasible and who is eligible) would be a good idea. Once you look at the utilities, that may be one of the deciding factors on next steps; they may just be unsustainably high and rates are not going to go down ever.
posted by Lyn Never at 7:51 AM on April 27, 2022 [4 favorites]
She could sell her home, adding to her cash, and getting out from under that $900 per month, and look for Federally-subsidized low-income housing which has rents calculated on a sliding scale based on her income.
One problem with people that have their home paid off is that they do not (often can not) spend money for the always-arising repairs and maintenance that are needed. Over time, the quality of the home, and its value, decreases.
posted by yclipse at 9:51 AM on April 27, 2022 [1 favorite]
One problem with people that have their home paid off is that they do not (often can not) spend money for the always-arising repairs and maintenance that are needed. Over time, the quality of the home, and its value, decreases.
posted by yclipse at 9:51 AM on April 27, 2022 [1 favorite]
Response by poster: Thanks, everybody! That's exactly the kind of advice I was looking for: Now we can start asking the right questions, talk to a financial advisor, and try to reduce costs as well.
You guys are what makes Mefi great. I really appreciate your help!
posted by Bigbootay. Tay! Tay! Blam! Aargh... at 10:06 AM on April 27, 2022 [1 favorite]
You guys are what makes Mefi great. I really appreciate your help!
posted by Bigbootay. Tay! Tay! Blam! Aargh... at 10:06 AM on April 27, 2022 [1 favorite]
In particular, given that your friend is an American in her 70s and not in good health, check the 'medical expenses' portion of her monthly budget. Look into:
- medically-approved generics or alternate medications to lessen out-of-pocket costs
- tweaking Medicare prescription coverage during the AEP later this year to cover more of her usual medications next year
- any medical devices/supplies eligible for insurance or gov't program coverage
- Medicaid (in the state of California as Medi-Cal) eligibility, as mentioned above
If she's currently paying for any service directly, is she eligible for that service through insurance or a Federal or local program? As a senior, her utilities are eligible for discounts. California senior citizen property tax relief programs. California Office on the Aging.
she may start doing things that bring her some additional income
Many programs are for low-income seniors; a county social worker could help right now, before your friend accidentally disqualifies herself from certain forms of assistance.
posted by Iris Gambol at 12:11 PM on April 27, 2022 [2 favorites]
- medically-approved generics or alternate medications to lessen out-of-pocket costs
- tweaking Medicare prescription coverage during the AEP later this year to cover more of her usual medications next year
- any medical devices/supplies eligible for insurance or gov't program coverage
- Medicaid (in the state of California as Medi-Cal) eligibility, as mentioned above
If she's currently paying for any service directly, is she eligible for that service through insurance or a Federal or local program? As a senior, her utilities are eligible for discounts. California senior citizen property tax relief programs. California Office on the Aging.
she may start doing things that bring her some additional income
Many programs are for low-income seniors; a county social worker could help right now, before your friend accidentally disqualifies herself from certain forms of assistance.
posted by Iris Gambol at 12:11 PM on April 27, 2022 [2 favorites]
Yeah, my mom's rent is about that and that's about her monthly budget, but, in addition to her health expenses and the fairly eyewatering long-term care insurance premiums, she takes little trips, gives to charities, bought a late-model used compact car last year after driving the last one til the wheels started falling off, etc...comfortable in a lower middle-class way. There's got to be some margin to cut in that budget.
Even assuming this lady can take out a reverse mortgage (*), one guaranteed for her remaining time in the house will only give her about $650/mo. (roughly). $1200 + $650 + $666 (from the life insurance lump sum) = $2516, well under $3600.
On the other hand...drawing on the lump sum's principal, I get nearly ten years' coverage of her funding gap (with reverse mortgage income). If she outlives that money, it will be awful. But, speaking generally, the 4% "safe" withdrawal rate assumes a longer period of withdrawals than this woman probably has to live, so there's probably a little room to increase withdrawals there.
(*) A REVERSE MORTGAGE DOES NOT GIVE YOU THE VALUE OF THE EQUITY OF THE HOUSE IN A LUMP SUM DISTRIBUTION. YOU ONLY GET ABOUT HALF OF IT.
look for Federally-subsidized low-income housing which has rents calculated on a sliding scale based on her income.
I hate to be direct, but this lady could easily die on the waiting list for that kind of housing. In most places, it is several years. Also, some of those programs have asset limits she could run into with life insurance and house sale proceeds in the bank.
posted by praemunire at 12:52 PM on April 27, 2022 [2 favorites]
Even assuming this lady can take out a reverse mortgage (*), one guaranteed for her remaining time in the house will only give her about $650/mo. (roughly). $1200 + $650 + $666 (from the life insurance lump sum) = $2516, well under $3600.
On the other hand...drawing on the lump sum's principal, I get nearly ten years' coverage of her funding gap (with reverse mortgage income). If she outlives that money, it will be awful. But, speaking generally, the 4% "safe" withdrawal rate assumes a longer period of withdrawals than this woman probably has to live, so there's probably a little room to increase withdrawals there.
(*) A REVERSE MORTGAGE DOES NOT GIVE YOU THE VALUE OF THE EQUITY OF THE HOUSE IN A LUMP SUM DISTRIBUTION. YOU ONLY GET ABOUT HALF OF IT.
look for Federally-subsidized low-income housing which has rents calculated on a sliding scale based on her income.
I hate to be direct, but this lady could easily die on the waiting list for that kind of housing. In most places, it is several years. Also, some of those programs have asset limits she could run into with life insurance and house sale proceeds in the bank.
posted by praemunire at 12:52 PM on April 27, 2022 [2 favorites]
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posted by blazingunicorn at 1:13 AM on April 27, 2022 [2 favorites]