Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: John Carragher who wrote (64451)	3/14/2007 3:50:08 PM
From: ajtj99	Read Replies (4) of 116555

John, with all due respect, I have met very few retired people who live in the same residence all their lives. Most of them downsize when they are empty nesters or retired, and lots of them move to condos so they don't have the associated maintenance issues of a house. Often times next up is independent living, assisted living, and a nursing home. If you want to talk about destroying everything they worked their whole lives for, about 1/3 of your life's savings is used up the last 3-months of your life in the form of medical costs. The bottom line is choice. If they can't afford to pay the taxes, they shouldn't be living there. It's called living within your means.

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