Edmunds Members - Cars and Conversations (Archived)

driver100

tjc78 said:

It's reasons like Driver is mentioning that we decided to move my mother in our home.   Right now she is perfectly healthy but it's nice knowing that as she gets older she won't have to be alone.

Its getting closer too, addition foundation is done and wood being delivered Monday. She received a firm offer on her house with settlement about 3-4 weeks before all the work is scheduled to be done.  Lots to do. 

I have a friend who is 74 with limited means but could live on his own. He was invited to live with his family and they love having him there....built in baby sitter, knowledgeable sage, wonderful conversations. His family loves having him with them.

I have no desire to live with my children and I am sure they don't want to live with me. I prefer it this way.

Just two very different views of life.....whatever works.

driver100

oldfarmer50 said:

What am I missing? This seems to be priced too low. Both Edmunds and KBB say low $8K in good condition. In 2010 most GMs were built for fleet use but this doesn't look like a rental car stripper. Any thoughts?



https://albany.craigslist.org/cto/d/mercury-grand-marquis/6263511364.html

Once again, it just looks too perfect to me. There are original cars with low mileage that don't have sparkling new wheel discs, paint and chrome trim. It is like when you go to a restaurant and they smother your......chicken, salmon, steak in heavy sauces.....to hide what is really underneath. My way out guess is this guy buys old cars and then fixes them up to look perfect to sell them.

houdini1

Pass the popcorn

driver100 said:

explorerx4 said:

@driver100,
You seem to have an idealized view of (RH), really Nursing Homes.
I like AB348's post about looking at something that uses in place programs for senior citizens

Now to get back to the real world....I wanted to try and address this point.

My brother pays $950 a month for a large 2 bdrm 2 bthrm apartment. Retirement home will cost $3000. Spread of $2000 a month.
We all realize $2000 a month is a huge amount to pay extra for what is basically living accommodation.

My brother is going to be 80 soon. He isn't very capable, and he has major anxiety issues. There are times he won't leave his apartment. He is on medications that allow him to function.

Staying where he is at $950 a month is definitely an option.
The biggest factor is no one is nearby if he goes into a highly anxious/depressing state. He can't make phone calls, he can't walk to the store....he doesn't function at a normal level. If he falls in his apartment and can't get to a phone he could lie there until the end. If there is a snow storm he may not be able to leave his apartment.

Another factor is when he is in that state, they won't admit him into a retirement home...he needs more care, and they won't take that on.

There are more complications than that. But, it is better to go in, while you are still capable of doing things, and then the safety and security of living in a place where there are activities, socializing, and care may actually add to his quality and length of life.

No easy answer, and I don't push him one way or the other. I can only point out the advantages and disadvantages.....if he doesn't like a RH I don't want him to blame me.

About calling someone in to help when needed, he finds that hard to take. Says he would rather curl up in the corner. Lots of factors.....sounds simple $960 compared to $3000 but way more complex. For one thing, there is an apartment available in RH now, I think they will become scarcer as the baby boomers are starting to look for that kind of accommodation.

What is the situation in Canada on the gov. (taxpayers) paying for retirement or nursing home? I know, in some cases, gov will pay in U.S.

oldfarmer50

carnaught said:

Unless I'm mistaken, LTC insurance policies give "x" amount of money to extended or rehab. situations for "y" amount of time. When it's used up, you're on your own, financially speaking. Nursing home insurance, on the other hand, pays a good percentage of indefinite length nursing home stays.

Here in NY the state make a deal that if you purchase LTC insurance that covers you for 2 years they will give you Medicaid without making you spend your own money.

The trick is getting it. Dad had atrial fib so they wouldn't cover him. Mom was accepted but never used it. The people who need it most can't get it.

houdini1

oldfarmer50 said:

carnaught said:

Unless I'm mistaken, LTC insurance policies give "x" amount of money to extended or rehab. situations for "y" amount of time. When it's used up, you're on your own, financially speaking. Nursing home insurance, on the other hand, pays a good percentage of indefinite length nursing home stays.

Here in NY the state make a deal that if you purchase LTC insurance that covers you for 2 years they will give you Medicaid without making you spend your own money.

The trick is getting it. Dad had atrial fib so they wouldn't cover him. Mom was accepted but never used it. The people who need it most can't get it.

What if you pay out of pocket for the first 2 years? Are you eligible then?

oldfarmer50

houdini1 said:

oldfarmer50 said:

carnaught said:

Unless I'm mistaken, LTC insurance policies give "x" amount of money to extended or rehab. situations for "y" amount of time. When it's used up, you're on your own, financially speaking. Nursing home insurance, on the other hand, pays a good percentage of indefinite length nursing home stays.

Here in NY the state make a deal that if you purchase LTC insurance that covers you for 2 years they will give you Medicaid without making you spend your own money.

The trick is getting it. Dad had atrial fib so they wouldn't cover him. Mom was accepted but never used it. The people who need it most can't get it.

What if you pay out of pocket for the first 2 years? Are you eligible then?

Good question, I don't know but seeing as this is NY I suspect not since it wouldn't be the "official" way to do it.

I know you can shield you assets from Medicaid if you put them in a trust 5 years prior to needing a NH. Mom got that and passed less than a month after the 5 years were over. For her it didn't pan out.

The system is really unfair to the middle class who spends a lifetime accumulating modest assets like a house only to see it seized at the end. Really rich people can self fund and poor people get a free ride but someone with a few hundred k net worth either has to pay for expensive insurance or lose everything.

oldfarmer50

driver100 said:

oldfarmer50 said:

What am I missing? This seems to be priced too low. Both Edmunds and KBB say low $8K in good condition. In 2010 most GMs were built for fleet use but this doesn't look like a rental car stripper. Any thoughts?



https://albany.craigslist.org/cto/d/mercury-grand-marquis/6263511364.html

Once again, it just looks too perfect to me. There are original cars with low mileage that don't have sparkling new wheel discs, paint and chrome trim. It is like when you go to a restaurant and they smother your......chicken, salmon, steak in heavy sauces.....to hide what is really underneath. My way out guess is this guy buys old cars and then fixes them up to look perfect to sell them.

Or maybe they inherited it from grandma and find a boat that size offensive. Notice the Prius next to it. I remember when I got that big Caddy for my son, the owner was surprised that he liked it. He said that young people usually don't want big cars any more.

driver100

houdini1 said:

Pass the popcorn

driver100 said:

explorerx4 said:

@driver100,
You seem to have an idealized view of (RH), really Nursing Homes.
I like AB348's post about looking at something that uses in place programs for senior citizens

Now to get back to the real world....I wanted to try and address this point.

My brother pays $950 a month for a large 2 bdrm 2 bthrm apartment. Retirement home will cost $3000. Spread of $2000 a month.
We all realize $2000 a month is a huge amount to pay extra for what is basically living accommodation.

My brother is going to be 80 soon. He isn't very capable, and he has major anxiety issues. There are times he won't leave his apartment. He is on medications that allow him to function.

Staying where he is at $950 a month is definitely an option.
The biggest factor is no one is nearby if he goes into a highly anxious/depressing state. He can't make phone calls, he can't walk to the store....he doesn't function at a normal level. If he falls in his apartment and can't get to a phone he could lie there until the end. If there is a snow storm he may not be able to leave his apartment.

Another factor is when he is in that state, they won't admit him into a retirement home...he needs more care, and they won't take that on.

There are more complications than that. But, it is better to go in, while you are still capable of doing things, and then the safety and security of living in a place where there are activities, socializing, and care may actually add to his quality and length of life.

No easy answer, and I don't push him one way or the other. I can only point out the advantages and disadvantages.....if he doesn't like a RH I don't want him to blame me.

About calling someone in to help when needed, he finds that hard to take. Says he would rather curl up in the corner. Lots of factors.....sounds simple $960 compared to $3000 but way more complex. For one thing, there is an apartment available in RH now, I think they will become scarcer as the baby boomers are starting to look for that kind of accommodation.

What is the situation in Canada on the gov. (taxpayers) paying for retirement or nursing home? I know, in some cases, gov will pay in U.S.

Probably similar. His income level is probably $30k to $40k. The lowest price for a decent place is close to $3000. He can get a subsidized unit - when they are available, if his income was below $20k It would probably be about $2000 a month.

I think if they are paid by government totally, you may be better off under a bridge.

I liked the idea that for less than $100 a day you could put yourself on a cruise ship......lots of food, interesting people, see some sights...............

explorerx4

That Grand Marquis is only 7 years old and has low mileage.
Not reason it shouldn't look just like that.

driver100

Just being a devils advocate, but that makes me more suspicious. Being 7 years old with low mileage, why does it look like it was just painted......wheel discs look almost artificial, tires have been blackened. It could be seen both ways....the only way to really know is to check it out.

There could be a good story to it....like the owner isn't here any more, and the family is just selling it. But, unless JMonroe is involved, and polished it up, I don't think private sellers usually stage a car that well.

fintail

I think the GM looks legit, not over-detailed. Look at the whitewalls, far from perfect. I think the seller just ran it through a good car wash, maybe the kind that uses a paint treatment. I also lean towards a retail car, the mudflaps aren't usual fleet accessories, right?

All of the elderly talk can be alarming, I prefer to pretend it isn't happening My grandma is still kicking strong at over 90, and I think my mom (almost 70, still working and although not in perfect fitness, is better off than many her age) might end up living with my sister - my mom's house is a case study in deferred maintenance, and I don't think I want her to put much more into it.

tjc78

Yeah the MGM is just in nice shape ... here are some shots of my 04 after a driveway detail right before sale. 100k and never a day not outside.   

driver100

tjc78 said:

Yeah the MGM is just in nice shape ... here are some shots of my 04 after a driveway detail right before sale. 100k and never a day not outside.   

OK, looks pretty good tjc.....similar condition to the other one. I don't remember that style of wheel disc though they are stamped Mercury. I guess it would be better without the vinyl roof, but some people like that look.....would fit right in in Florida. So, how much did you sell for and did you offer it to oldfarmer?

oldfarmer50

driver100 said:

tjc78 said:

Yeah the MGM is just in nice shape ... here are some shots of my 04 after a driveway detail right before sale. 100k and never a day not outside.   

OK, looks pretty good tjc.....similar condition to the other one. I don't remember that style of wheel disc though they are stamped Mercury. I guess it would be better without the vinyl roof, but some people like that look.....would fit right in in Florida. So, how much did you sell for and did you offer it to oldfarmer?

At 100k miles I probably wouldn't be a buyer which is probably a mistake since those 4.6L motors went a long time. I look for CL unicorns.

Just came back from a car show that had a little bit of everything, maybe 100 cars from old survivors to show quality hot rods. Funny, you kind of expect perfection on cars with high potential value but some of them were sloppy.

This one for example had bubbling paint:



Not to say there weren't some nicely done cars though.






My mother had one just like this when I was a kid:

driver100

I am going to a Cruise Night on Tuesday or Wednesday with a friend...depends on the weather...could rain Tuesday. It's funny, they all look about the same with almost the same cars at each. There were only so many of those Dodge Bumble Bees produced (or whatever they are)....and I must have seen about a 100 of them at various shows.

Same with those rose and white colored Ford Fairlanes....I see more of them these days than I did in 1955.

ab348

I seldom bother with car shows now. There are far too many cars like the Camaro pictured with the blown motor and no hood. Seems that if you check a few dozen boxes in a Summit catalog, put lots of chrome-plated aftermarket junk under the hood, give it an over-the-top metalflake paint job and jumbo wheels, you win the prize. A painstakingly maintained or restored original car doesn't get much attention.

tjc78

@driver100

I sold it for $3200 back in November.   I had it listed at $3000 but @Mr_Shiftright said I was low on the price so based on that I raised it to $3500.   Sold it to the first person who looked at it. 

driver100

Good move selling it at $3200. Mr S really came through....good call.
Too bad it wasn't oldfarmers cup of tea.....sounds like a decent price for a solid car, that could probably go another 100 or 200k miles more.

roadburner

oldfarmer50 said:

driver100 said:

tjc78 said:

Yeah the MGM is just in nice shape ... here are some shots of my 04 after a driveway detail right before sale. 100k and never a day not outside.   

OK, looks pretty good tjc.....similar condition to the other one. I don't remember that style of wheel disc though they are stamped Mercury. I guess it would be better without the vinyl roof, but some people like that look.....would fit right in in Florida. So, how much did you sell for and did you offer it to oldfarmer?

At 100k miles I probably wouldn't be a buyer which is probably a mistake since those 4.6L motors went a long time. I look for CL unicorns.

Just came back from a car show that had a little bit of everything, maybe 100 cars from old survivors to show quality hot rods. Funny, you kind of expect perfection on cars with high potential value but some of them were sloppy.

This one for example had bubbling paint:



Not to say there weren't some nicely done cars though.






My mother had one just like this when I was a kid:

I like the 1971-1973 Mach 1. Not enough to buy one, however. I'd rather have a 2012-2013 Boss 302 or(if performance wasn't an issue) a 2008 Bullitt.

driver100

Took Gigi for a walk, saw a 2013 to 2014 BMW 320i like this, black with light beige or almond interior. Looks good, has large windows, low hood, simple but smart interior. It would make a nice looking CPO car:

stickguy

I will be looking at similar BMWs at the end of the year. I always liked them. Perfect size too.

stickguy

as to old age, I figure that each kid lived with/off me for 22 years. x2, that is 44 they owe me. so if I can self sustain until I am 80, that covers me to well over 120! Should be plenty.

Michaell

I sat in, but did not drive, a CPO 320xi a month or so ago. Nice car, nice size.

Afraid to drive it as I might get spoiled. Perhaps when I am closer to lease end ....

driver100

I agree, the 320 is the right size for a car, has enough room for most needs yet is still maneuverable. Easy for zipping around town, but, big enough to ride nicely on highways. C Class, A4 and other cars of that size with engineering hit the sweet spot.
I really like my E, and we got the E mostly to drive to Florida, and to carry passengers. But, some of the fun element is lost with the larger size.

oldfarmer50

Anybody know anything about these cars?



Never heard of them.

driver100

oldfarmer50 said:

Anybody know anything about these cars?



Never heard of them.

I can't quite make out the name on the grill. I thought it said Austin, which was British, then Auburn which was a classy car....U.S. I think.

But, it has a Genesis badge on the hood!

Hey where is Mike.A., haven't heard from him in a few days - he had that appointment I think.

ab348

That's an Austin Seven.

https://en.wikipedia.org/wiki/Austin_7

graphicguy

oldfarmer50 said:

What am I missing? This seems to be priced too low. Both Edmunds and KBB say low $8K in good condition. In 2010 most GMs were built for fleet use but this doesn't look like a rental car stripper. Any thoughts?



https://albany.craigslist.org/cto/d/mercury-grand-marquis/6263511364.html

My late Mother had one of those. They were mostly owned by "older" folks. Not driven hard, usually well cared for. One thing to look out for, they had a tendency to leak into the back seat. The drain holes would clog easily. Every year or two, she would have to take it to the dealership (who, even under warranty, said nothing was wrong with standing water on the back seat floor) and have them clean the rear carpets and air them out.

roadburner

The Austin Seven was the first BMW automobile- built under license and called the Dixi, or 3/15.

oldfarmer50

driver100 said:

oldfarmer50 said:

Anybody know anything about these cars?



Never heard of them.

I can't quite make out the name on the grill. I thought it said Austin, which was British, then Auburn which was a classy car....U.S. I think.

But, it has a Genesis badge on the hood!

Hey where is Mike.A., haven't heard from him in a few days - he had that appointment I think.

Yes, it says Austin Seven. I'm familiar with Austin of course (there was an Austin Healy) parked nearby but I'd never heard of a Seven.

Thanks to RB for coming up with it's heritage. It such a narrow car I can't imagine two people sitting side by side.

I saw a Genesis G80 on the way to the show. I knew from the Bently/Chrysler winged emblem.

PF_Flyer

Back-to-back classics on the PA Turnpike yesterday coming home from a family visit. Getting onto the Turnpike from US 222 coming down from Reading, go through the toll booth and you have to make the choice, east or west, towards Philadelphia or Harrisburg. To go west, you have to go up the ramp to the left that goes over the pike and cloverleafs back. About 3 vehicles ahead a white panel van, already on the bridge over the road, decides he might be going the wrong way, brakes abruptly, and pulls off to the side, presumably to try and back down the single lane against the traffic. We get past him, and go around the cloverleaf, accelerating so we have a chance to blend in at the 70-75mph traffic is moving. We merge fine. About 2 miles down the road, I see a car on the shoulder of the road driving TOWARDS us heading east on the west bound side. I have NO idea whether he missed his exit and thought this was a good idea, or came down some old exit that had been closed and is used for emegency vehicles that we passed just after we passed him. I know that he was going to have an interesting time getting past the on-ramp I had just used given the volume of traffic.

Head on a swivel folks. Full alert at all times

bwia

How long does a million dollars last in retirement?

My official retirement date is December 31. Last week we met with a financial planner and based upon the way he looked at me it seems as though I haven't saved enough to retire comfortably. But that is based on a life expectancy of 95. So I am debating whether I am retiring too early.

Reaching age 95 sounds nice but I don't see it in the cards. For me, 85 would be about right given that my mother and father lived to 61 and 77 respectively. They were the exceptions though, as most other family members lived to the high 90s and my grandmother 100.

So for you guys who are near or in retirement, how long will a million dollars last, if that includes travel, winters in the Caribbean, and developing a golfing habit?

carnaught

I say 10 years plus or minus.

graphicguy

carnaught said:

I say 10 years plus or minus.

I'm with CARNAUGHT. Now, if I curb my wanderlust, my car habits, my desire to not worry about the cost of going out for a "night on the town", I'll maybe squeeze that to 15 years.

As long as I'm able, I'm going full speed ahead, though.

28firefighter

Agree with about 10 years depending on how frugally you can do those things.

For what it's worth, I'm 30 now and our financial planner is telling us to to plan to have between $6mm and $7mm to maintain our current lifestyle.

stickguy

Depends on age at retirement, collecting SS, and if you have a pension. And largely, lifestyle. Plenty of places you can live just fine on $60k income, and do some traveling too, so with normal SSI, that will last way more than 10 years.

fintail

It all depends on where you live. I can say the greater Puget Sound area won't be built for retirees - cost of living is just too high unless you have a public sector windfall, inheritance to siphon, or got lucky in real estate. Better places will be in more rural areas, or east of the mountains.

stickguy

28firefighter said:

Agree with about 10 years depending on how frugally you can do those things.

For what it's worth, I'm 30 now and our financial planner is telling us to to plan to have between $6mm and $7mm to maintain our current lifestyle.

I think in many cases, that maintain lifestyle is overstated. A lot of expenses change or go away. If you plan to retire with a paid off house, of a reasonable size, and kids are gone, a huge chunk of current expenses are too. Just budget more if you want t live in a manhattan condo and live a fancy city lifestyle!

roadburner

Michaell said:

I sat in, but did not drive, a CPO 320xi a month or so ago. Nice car, nice size. Afraid to drive it as I might get spoiled. Perhaps when I am closer to lease end ....

We had a 320i manual with the Track Handling Package a few months ago. It was a lot of fun. The manual is essential for that car; with a 0-60 time in the mid-six second range a little extra driver involvement makes a big difference. 

Michaell

roadburner said:

Michaell said:

I sat in, but did not drive, a CPO 320xi a month or so ago. Nice car, nice size.

Afraid to drive it as I might get spoiled. Perhaps when I am closer to lease end ....

We had a 320i manual with the Track Handling Package a few months ago. It was a lot of fun. The manual is essential for that car; with a 0-60 time in the mid-six second range a little extra driver involvement makes a big difference. 

What was the take rate for the stick shift? I'd like to think that, all else being equal, the asking price for a manual may be less than that for an automatic.

jwm40517

American Austins and American Bantams were very popular drag cars in the 50's and 60's. Small and light they could accommodate the small block engines of the period and were often used in NHRA altered and gasser classes with fiberglass front ends. Some had amazing paint and lots of chrome and were exciting to watch as it was difficult for them to go straight.

The larger but still light Willy's was a more popular vehicle when the more modern big blocks arrived around 1965.

roadburner

oldfarmer50 said:

Anybody know anything about these cars? Never heard of them.

I can't quite make out the name on the grill. I thought it said Austin, which was British, then Auburn which was a classy car....U.S. I think. But, it has a Genesis badge on the hood! Hey where is Mike.A., haven't heard from him in a few days - he had that appointment I think.

Yes, it says Austin Seven. I'm familiar with Austin of course (there was an Austin Healy) parked nearby but I'd never heard of a Seven. Thanks to RB for coming up with it's heritage. It such a narrow car I can't imagine two people sitting side by side. I saw a Genesis G80 on the way to the show. I knew from the Bently/Chrysler winged emblem.

This is the BMW Dixi:

qbrozen

stickguy said:

Agree with about 10 years depending on how frugally you can do those things. For what it's worth, I'm 30 now and our financial planner is telling us to to plan to have between $6mm and $7mm to maintain our current lifestyle.

I think in many cases, that maintain lifestyle is overstated. A lot of expenses change or go away. If you plan to retire with a paid off house, of a reasonable size, and kids are gone, a huge chunk of current expenses are too. Just budget more if you want t live in a manhattan condo and live a fancy city lifestyle!

I concur. Financial planners and software seem to always take into account CURRENT expenses rather than future expenses, which should be far less. 

We'll sell our house and buy a smaller place with cash with low property taxes. Expenses would be minimal. I would likely even try to buy a vacation home before retirement.

Mr_Shiftright

oldfarmer50 said:

carnaught said:

Unless I'm mistaken, LTC insurance policies give "x" amount of money to extended or rehab. situations for "y" amount of time. When it's used up, you're on your own, financially speaking. Nursing home insurance, on the other hand, pays a good percentage of indefinite length nursing home stays.

Here in NY the state make a deal that if you purchase LTC insurance that covers you for 2 years they will give you Medicaid without making you spend your own money.

The trick is getting it. Dad had atrial fib so they wouldn't cover him. Mom was accepted but never used it. The people who need it most can't get it.

"The trick is getting it. Dad had atrial fib so they wouldn't cover him. Mom was accepted but never used it. The people who need it most can't get it."

Well that is exactly the U.S. health insurance business model. The sicker you are, the less they want you, so they either deny you or chase you away with horrendous premiums. It's a locked down monopoly.

driver100

ab348 said:

That's an Austin Seven.

https://en.wikipedia.org/wiki/Austin_7

Thanks ab, I would have stayed up all night trying to figure out what it was

driver100

oldfarmer50 said:

driver100 said:

oldfarmer50 said:

Anybody know anything about these cars?



Never heard of them.

I can't quite make out the name on the grill. I thought it said Austin, which was British, then Auburn which was a classy car....U.S. I think.

But, it has a Genesis badge on the hood!

Hey where is Mike.A., haven't heard from him in a few days - he had that appointment I think.

Yes, it says Austin Seven. I'm familiar with Austin of course (there was an Austin Healy) parked nearby but I'd never heard of a Seven.

Thanks to RB for coming up with it's heritage. It such a narrow car I can't imagine two people sitting side by side.

I saw a Genesis G80 on the way to the show. I knew from the Bently/Chrysler winged emblem.

People weighed less back then

driver100

bwia
How long does a million dollars last in retirement?

Remember when $64000 would be more money than you could spend in a lifetime....$64000 Question?

I don't see why $1 Million shouldn't last for 15 to 20 years....but, I am not good with numbers.

If invested modestly it should earn $50000 a year at 5%. I don't know how much your government pension plans are but they should top it up a bit. I think the rule is your age as a percentage (say 65 becomes 65%) should be in secure things, like bonds, the rest in equities. But, that doesn't work too well as secure things - GICs, bonds, don't pay enough interest.

In 10 years $50000 will really be like $25000, but the government part keeps up with inflation....if they don't go bankrupt (which could happen).

Also, at that point you would be drawing out some principle too.

If you don't calculate right, you may have to find a good brand of cat food.

driver100

One more thought....a guy was explaining this to me at tennis today.
They have a one story home and they are making the basement into a furnished living space.
They plan on renting out the first floor of their home one day, and live in the lower level, and have live in help (or just someone who comes in for awhile if that is all that is needed)
This sounds like a good plan, as the rental income will help pay their expenses, they can stay in their own home, the cost will be less than a retirement home.

ab348

driver100 said:

If invested modestly it should earn $50000 a year at 5%.

Don't get me started on that. I was looking at my small retirement account on the weekend and the various mutual funds have all given back all the gains they made over the last 8-9 months, so the return is zero. I'd be happy with 5% but I can't find where to get it.

oldfarmer50

carnaught said:

I say 10 years plus or minus.

And that's only if he sticks to driving a 15 yo Buick.