It's a 900 Vulcan. It's big enough to get me around at legal speeds. Or so. Cornering is a bit odd. It's more work than on a bike. I'm not really worried about rolling but the possibility exists. The temptation to lean will probably always be with me. The storage space is sure nice. I think I'd want a reverse gear if it was bigger. I just try to find a spot where backing up isn't necessary. I put some LEDs on the rear fenders for brake lights and turn signals for more visibility than it had. I bought it because I wanted to ride well into old age. I'd buy a trike again if I had a do over.
That really sounds more like their mailing list than an actual paid membership. there are less than 41 million people total, over 55 according to the census bureau
Depends on circumstances. If you die shortly after and the house is sold, the mortgage is paid off and the balance, if any, goes to the heirs. Naturally, the mortgage company already got their fees and costs out of it.
If you live well beyond the actuarial age of death you come out ahead and the mortgage company eats the loss from time. I have no idea what age they use in their determination, but if it is 80 and you live to 95, you did good.
I'm sure people make poor decisions and take the money when they should not and get in fiscal trouble down the road. Especially bad if you cannot pay the upkeep and have to bail out. Just as you point out if the original mortgage is no already paid it can be a bad decision. I always figured by retirement time you should have paid off your house, but a lot of peole have not.
Which conversion? I've seen one that doesn't look bad but it's more like training wheels so you have 3 in back. I've thought about a sidecar too. DMC makes some nice ones in the $6-7000 range. I've got a DR650, a DL650, and a Sportster so it would be hard deciding which one. Or I could go with a Ural if we don't declare war on Russia first. I think they've improved from being basically a new 1939 BMW.
Then there's the purpose build. The new Can-Am Ryker is interesting but the nearest dealer is in Spokane. The Harley ice cream wagons are a little rich for my blood.
Then there is that 'odd'. A guy tried to talk me into a test ride on one of the Piaggio three wheel leaners but I balked. I figured if any surprises came up I'd do exactly the wrong thing.
Supposed to snow this weekend so I'll have a while to chew on it.
That's okay if you're willing to live in a less expensive location. I don't want to. The only thing that would make me leave here is if I'm too sick to live alone. (Or I meet a rich young babe who wants me to live with her.)
And even with living in a less expensive place, you're talking about investing money. Why do I want investments when I have no children to leave them to. At least when I thought I was short of money, I wanted to spend all my money before I died, but only one second before I die.
That's what annuities do.
Since I don't know when I will die, i can't know how to apportion my spending.
Okay, this looks good. The last time I brought this up, all I got was "There are a lot of charges".
Compound interest. Works when you're earning it, and also why you're obliged to pay it. If you can't pay it, they'll foreclose, or whatever it's called, but inability to pay your bills, like rent, is a big problem even without a reverse mortgage.
Of course they will need to pay all that to keep the house. But I have no heirs.
Sure, those expenses are why you didn't have enough money in the first place.
the most likely, or a nursing home.
This raises a question. You can still pay off the debt, can't you, a debt that may be much less than the value of the house? Not that someone with little money and no heirs can do this but someone who should never have bought the reverse mortgage in the first place, who has heirs who might want the house, if only to sell it at market price, can pay off the debt, keep the house, and sell it for more, right? If not the detective guy from Hawaii is even more misleading.
I need to learn more about this part.
There are a lot of people like that. Either with no heirs or so little money they can't afford to leave anything to anyone, and they have to maximize what they have. (For years I thought I was like that.)
It still seems that annuities and reverse mortgages are the only ways to do that. A problem with annuities seems to be that their payments stay the same but inflation raises prices, age requires one to hire peole for things he used to do himself, and likely increased sickness can raise costs enormously. Are there annuities that pay less at the start and more as time goes on? If not, I guess you have to save money in the early years, which if I die early leaves the problem I didn't want, money in the bank when I die.
Again, then you have no place to live.
I'm sure some will try to sell annuities and reverse mortgages to people who shouldnt' buy them.
Tom Selleck!! That's his name. It amazes me what celebrities will do for money. He would be all right here if not for the line "People think it's just another way to get your house."
But who really gets me is the guy from Jeopardy. He's been doign that show for 20 years or more, must have loads of money and still he does those terrible insurance commercials.
This is off-topic, but once I bought a car from what I thought was a private party, and her boyfriend had a rentacar company, probably with just his car and her car and his parents' cars, and he registered the car for me, spelled my name wrong.
In the 4 years it took me to correct the spelling, I only got one sales letter, from something like a used car lot not too far from here.
So it looked like the DMV sold my name and address, but just once.
You buy within your means or rent--with the advantage that if in the future you need assisted living or your plans change you have complete flexibility to make those decisions later.
Indeed, they're both high expense, high commission products just as whole life policies like those the Hartford peddles thru AARP that are generally very poor comparatively as far as net return to the purchaser as compared to alternatives.
Even if you have no heirs, why not still try to optimize your return strategy while still living and then, instead of giving what you've worked for your entire life to some insurance or mortgage company or the government, why not find a charitable institution or other purpose that you have a passion for to make use of those funds going forward?
Maybe you could join a socialist commune? You'd have to turn all your assets over to "the group" but it could be a good option for a leftard socialist democrat.
A number of companies make conversion kits for bikes.
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Some have a scheme for reverse using an electric motor. You don't realize it driving a car but there are parking places that aren't exactly level. The city has some diagonal parking areas. With the crown on city streets it can be quite a slope down toward the curb. Nothing like trying to paddle backwards on an 800 pound bike. I always back in for a quick getaway.
"As for these communities, I think I had rather keep bachelor’s hall in hell than go board in heaven."
Henry David Thoreau
There were leftists in 1841, running around whining about abolition and temperance. Nothing changes. And, yes, their communes were clusterfucks. Look up Brook Farm or Fruitlands.
That depends on your situation. If you are living comfortably, fine, charity is good. OTOH, if you don't have enough to meet normal living expenses or for an expensive home repair, a reverse mortgage makes a lot more sense than surviving on cat food because that is all you can afford.
Sure, just like getting a home equity loan and using your house like a piggy bank. I'd rather have a paid off house than a 2 week Disney vacation from a loan.
Depends on circumstances. Could be devastating done wrong, or a life saver if done when really needed.
I don't know what the average case is, but my mother could never live anywhere more cheaply than in her house. Her annual property taxes are $846. How many months of rent would that pay for anywhere?
She took out a reverse-mortgage a few years ago to get some much-needed repairs done on her house. I don't expect to realize a single cent on her estate.
My doctor keeps wanting me to get on some of the colerstol drugs. My numbers are just on the high side of 'nornal'. I am in very good health at 69 years old. I told him that anything that is advertised on TV I did not want anything to do with it.
I try to advoid most advertised products. One day I came in from working in the yard to cool off. I fliped on the TV and there was an infomercial on a Worx cart. I looked at it and thought something like that may be useful to me. I think they wanted you to order one for about $ 150 or so. Just for the fun of it I looked on ebay and found it for just over $ 100. Decided to get it. It surprised me, but it has came in very useful over the last 3 years. It is not for big jobs, but for say moving a bag or 2 of furtlizer at a time it does work well. I am at the point of not wanting to do any big jobs an having 2 wheels makes it much easier than a single wheel wheelborow.
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