Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

HELP me help this elderly lady
Vanity

Posted on 02/01/2013 7:23:13 PM PST by patriot08

A school friend and I have sort of a little project going to try to help the elderly.

We know this lady in her late seventies who needs help with life choices, finances.

She has no family. She is not in good health with several health problems and expects to be around maybe a year or two more at most.

She earns about $14,000 per year in Social Security. She has about $53,000 in stocks- mostly Walmart. She has about $4,000 in a retirement and checking account. She only owes a couple of thousand on her car. That's the extent of her debts. Car payments are around $200.00 a month. Medicare supplement is around $200.00 a month

She has recently taken a rent controlled apt for seniors that will cost $451.00 per month plus bills. It's very nice with all kinds of amenities for seniors.

I asked her how she would make it on her limited income. She said she had too much in the way of assets to be given HUD housing, food stamps and all the other things really poor seniors get, so she planned to 'live it up' for the time being, and spend it down (her assets) until she qualified for all the stuff destitute seniors are awarded.

I don't know quite what to tell her, so I'm going to the smartest people I know- Freepers.

Please don't judge her too harshly. She has led a good Christian, productive life (retired nurse) and is really a nice lady.


TOPICS: Chit/Chat
KEYWORDS: elderly
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-71 next last
To: ExNewsExSpook

Sound advice. Thank you.


41 posted on 02/01/2013 8:41:34 PM PST by patriot08 (NATIVE TEXAN (girl type))
[ Post Reply | Private Reply | To 34 | View Replies]

To: patriot08

The Walmart stock would cover 10 years rent.

Using the SS income for car and medicare payments would leave about $750 for food and entertainment and so forth. After the car is paid off, there will be an extra $200 per month to burn.

Looks like a comfortable setup, until 10 years from now.


42 posted on 02/01/2013 8:43:50 PM PST by UnwashedPeasant
[ Post Reply | Private Reply | To 1 | View Replies]

To: UnwashedPeasant

Thank you.
I really appreciate all the good advice and positive input by my fellow FReepers.
I’m sure the lady will feel much better about it all.


43 posted on 02/01/2013 8:48:08 PM PST by patriot08 (NATIVE TEXAN (girl type))
[ Post Reply | Private Reply | To 42 | View Replies]

To: patriot08

First off, not knowing the Medicaid laws in Texas (each state has their own), I’d help her to make sure her SS income does not exceed the qualifications for a nursing home should that come into play. Her health could turn on a dime, and she needs to know the specifics.

Whatever she has, make sure she spends it on herself and her needs as that could affect Medicaid look back. No gifts to anyone that could ding her for future NH care. Spend it on dental care (Medicaid doesn’t cover much), eyeglasses, clothing, shoes, and anything healthcare related. A pre-paid funeral plan is also a very good idea, not a fun one, but essential. She also can pay off her car as that is an asset they can’t take as long as there is a reasonable expectation she will be able to use it.

Hate to be a wet blanket on fun ideas for spend down, but that’s the reality.

I haven’t been through the Medicaid mill myself with my parents, but private care, and I’ve learned a lot at agingcare.com. Post your question there and people local to your question will be able to help you help your friend.


44 posted on 02/01/2013 8:49:32 PM PST by mplsconservative (Barack Hussein 0bama has American blood on HIS hands!)
[ Post Reply | Private Reply | To 21 | View Replies]

To: Mr. K
"Move to Thailand- she can live in a beach house for that kind of money (with servants)"

Great idea! She has a good retirement income for living in some interesting places.

Where else besides Thailand can someone live well on $2,000 per month?

45 posted on 02/01/2013 8:49:32 PM PST by UnwashedPeasant
[ Post Reply | Private Reply | To 37 | View Replies]

To: Anitius Severinus Boethius

So true.

There was a woman I worked with ages ago who had a sign up with a similar sentiment. I can’t recall the exact phrasing but it was along the lines of “When I die, if I have more than $1.00 to my name then I will have grossly mismanaged my assets.”

Wish I could remember the exact quotation.


46 posted on 02/01/2013 9:08:03 PM PST by green pastures (Cynicism-- it's not just for breakfast anymore...)
[ Post Reply | Private Reply | To 14 | View Replies]

To: TomGuy
whatever she has will either be for her to live on and spend or eventually into the coffers of the US govt....I'd say she should stay in the nice retirement apt as long as she can, spending down her stocks and other money until its gone....

depending on her lifestyle, she could probably do fine with an additional $3-4 hundred dollars a month, and her money will then last a long time...afterwards, she'll have to throw herself on the mercy of the govt........

47 posted on 02/01/2013 9:29:01 PM PST by cherry
[ Post Reply | Private Reply | To 7 | View Replies]

To: patriot08

She should find a lady in her 60’s in a similar situation and setup a household with her. She could stay independent for more years.


48 posted on 02/01/2013 9:32:40 PM PST by donna (Pray for revival.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: patriot08

What are her medical problems?


49 posted on 02/01/2013 9:46:01 PM PST by Exit148
[ Post Reply | Private Reply | To 1 | View Replies]

To: mplsconservative

Thanks for the info.


50 posted on 02/01/2013 9:49:11 PM PST by patriot08 (NATIVE TEXAN (girl type))
[ Post Reply | Private Reply | To 44 | View Replies]

To: Exit148

I know among her ailments are a heart condition and arthritis.


51 posted on 02/01/2013 9:53:42 PM PST by patriot08 (NATIVE TEXAN (girl type))
[ Post Reply | Private Reply | To 49 | View Replies]

To: donna

Now that’s a idea.


52 posted on 02/01/2013 10:00:10 PM PST by patriot08 (NATIVE TEXAN (girl type))
[ Post Reply | Private Reply | To 48 | View Replies]

To: patriot08

She may die in a year or two or have to go to a nursing home or she may not. Look into the best geriatric medical care for her issues. She will need to spend down if she goes to a nursing home before being eligible for Medicaid. Look into ‘Affordable Assisted Living’ in your area, better quality of life than nursing home.


53 posted on 02/01/2013 10:01:06 PM PST by iowamark
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

Thanks to all my FReeper pals for your tips.
Keep ‘em coming.
You’ve been very sweet and helpful.


54 posted on 02/01/2013 10:02:16 PM PST by patriot08 (NATIVE TEXAN (girl type))
[ Post Reply | Private Reply | To 52 | View Replies]

To: listenhillary

not sure what state she lives in, but in Texas we have VERY nice Texas veterans homes and if she’s the widow of a veteran, she can go there if she declines in her health...


55 posted on 02/01/2013 10:02:28 PM PST by flowergirl
[ Post Reply | Private Reply | To 24 | View Replies]

To: patriot08

Before she uses up all her savings, convince her to get to a attorney to draw up a simple will and living will.

That’s the best thing you could do for her, that I can see. Besides being her friend.


56 posted on 02/01/2013 10:52:40 PM PST by Daffynition (The essential American soul is hard, isolate, stoic, and a killer. It has never yet melted. — D.H.)
[ Post Reply | Private Reply | To 17 | View Replies]

To: patriot08

Before she uses up all her savings, convince her to get to a attorney to draw up a simple will and living will.

That’s the best thing you could do for her, that I can see. Besides being her friend.


57 posted on 02/01/2013 10:52:57 PM PST by Daffynition (The essential American soul is hard, isolate, stoic, and a killer. It has never yet melted. — D.H.)
[ Post Reply | Private Reply | To 17 | View Replies]

To: patriot08

I think she has a great plan. Kiss her on the cheek and wish her well.


58 posted on 02/02/2013 12:59:49 AM PST by McGavin999
[ Post Reply | Private Reply | To 17 | View Replies]

To: conservative98; patriot08
Tell her to stop trying to live off the system.

That's right. Tell her she ought to go out get a damn job! (Sheesh!)

59 posted on 02/02/2013 3:25:40 AM PST by raybbr (People who still support Obama are either a Marxist or a moron.)
[ Post Reply | Private Reply | To 39 | View Replies]

To: McGavin999
What does she mean by “living it up”.

Vegas....

60 posted on 02/02/2013 3:34:25 AM PST by Hot Tabasco (Jab her with a harpoon or just throw her from the train......)
[ Post Reply | Private Reply | To 2 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-71 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson