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0 pointspetra9y ago0 comments

So what happens to people when they are old , and maybe they're pension isn't that good ?

0 comments

Sadly they might land in the streets, if they don't have a family to support them.

But this can also happen if you own a house, because there are running expenses for municipal taxes, validating the plumbing every X years, renewal of the boiler system before every winter starts, cleaning the snow or paying someone to do it....

dnissley9y ago

True, but then you can sell it and potentially have enough money to live out the rest of your days (or a significant portion of them).

There was a comment I read here recently about how a mortgage is in some ways a vehicle for forced savings. Not enough to retire on alone of course, but a big check if you ever need it.

pjmlp9y ago

The problem is that you need someone willing to buy it, and I can tell you that in the last couple of years that has been a very big issue to Portuguese and Spanish families, which cannot find any buyers.

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pjmlp9y ago

Sadly they might land in the streets, if they don't have a family to support them.

dnissley9y ago

True, but then you can sell it and potentially have enough money to live out the rest of your days (or a significant portion of them).

There was a comment I read here recently about how a mortgage is in some ways a vehicle for forced savings. Not enough to retire on alone of course, but a big check if you ever need it.

pjmlp9y ago

j / k navigate · click thread line to collapse