Reverse mortgage...redux

Is he really.. or is this coming from the consultant report from the conference a couple of years ago that was brought up during the election?
The trick is to keep talking about it until people no longer pay attention. When you fall asleep, they drop the bomb and say "Why are you surprised? We've been talking about it for ages."
 
Shades of Soylent Green but if they cut Medicare to seniors the government saves money. More seniors die and the government gets access to RRIF taxes, Cap gains, probate fees, HST on funerals.
How`s that go?..... Oh yeah! The best government is a benevolent dictatorship tempered by an occasional assassination. You know, to keep them in line.
 
Keep in mind they will likely have fairly strict home maintenance requirements to maintain value which may cost some significant money down the road

If your plan is to live large and give zero f*cks about the house when it's all said and done, who cares? Do they do inspections inside and outside at any point or is this just a "you should now do this" type letters in the mail? If it's just "you really should do this to protect your (and our) asset, just ignore it all - when you expire, you won't care, and if there's nobody at the end that's going to see any equity when the house is sold anyways (or isn't on the hook for any of the bills), just F it all.

You hit the wall where you need actual care and heaven forbid long term care and that shite is expensive

LTC is fully subsidized by the province if you can't afford it. My dad did it right, he sold his business and retired a bit early, lived life, bought what he wanted when he wanted it, set aside a little bit of money for the 4 kids (and somehow it was structured that it was untouchable) and when he want into LTC there wasn't much left, so they took his CPP and OAS every month minus a $200 stipend (for things like haircuts and a few dinners out ever month) and the rest was subsidized. He had a nice semi private room at Hillsdale in Oshawa (and a modern semi is basically a private room with just a shared bath) and he seemed pretty content and had great care.

It sure seemed like a fine idea to me, why skid into a nursing home with hundreds of thousands of dollars in your bank only to see it all go to the nursing home, particularly if it's a for-profit one. Screw that, I'm spending that **** lol. My health isn't great, my job has already taken a great physical toll on me to the point where I'm in constant pain already in my 50's (which then impacts my ability to be as physically active as I'd like, which then becomes a vicious circle with weight gain etc), so I expect by the mid 70's to early 80's (if I even make it that far) I'll be wanting to have that chat with my kids.

While not the path for everyone, in his case (without decendents), there is a strong case for living large and then pulling the plug instead of maximizing time on earth.

MAID is more complicated than just deciding to apply on a whim, there are requirements. But there's also other options like talking to your family and making your intentions and desires clear, just taking one of the cocktails you can find the ingredients for easily online, and then telling one of those family members that they should "come check on you" tomorrow morning at 9AM, and then climbing into bed to doze off.

Forever.

long ago when I lived in Markham there was a bike crash at Markham Rd. and 14th, might have been McCowan or Kennedy though, long ago remember. A rider on a RZ500!! torpedoed the huge concrete base of a railroad overpass at high speed, in a suspected suicide.

WIth my luck I'd survive and end up like this lol.

1749428708662.png

If I'm going out on my own accord at some point I want the peaceful quiet method, not the potential "oh **** I didn't expect to wake up from this, why are there hoses in every orifice?!" method lol.
 
LTC is fully subsidized by the province if you can't afford it.
LTC is a benefit for all Ontario residents - rich or poor. A private room is about $3k, semi private $2.2k - doesn’t matter how poor or wealthy you are.

On my dads floor, several residents were multi-millionaires, some were penniless pensioners - all got the same great care. Better than the $15k/month care at a local private facility.

Not all LTC homes are great, we got lucky and had a great experience.
 
If your plan is to live large and give zero f*cks about the house when it's all said and done, who cares? Do they do inspections inside and outside at any point or is this just a "you should now do this" type letters in the mail? If it's just "you really should do this to protect your (and our) asset, just ignore it all - when you expire, you won't care, and if there's nobody at the end that's going to see any equity when the house is sold anyways (or isn't on the hook for any of the bills), just F it all.



LTC is fully subsidized by the province if you can't afford it. My dad did it right, he sold his business and retired a bit early, lived life, bought what he wanted when he wanted it, set aside a little bit of money for the 4 kids (and somehow it was structured that it was untouchable) and when he want into LTC there wasn't much left, so they took his CPP and OAS every month minus a $200 stipend (for things like haircuts and a few dinners out ever month) and the rest was subsidized. He had a nice semi private room at Hillsdale in Oshawa (and a modern semi is basically a private room with just a shared bath) and he seemed pretty content and had great care.

It sure seemed like a fine idea to me, why skid into a nursing home with hundreds of thousands of dollars in your bank only to see it all go to the nursing home, particularly if it's a for-profit one. Screw that, I'm spending that **** lol. My health isn't great, my job has already taken a great physical toll on me to the point where I'm in constant pain already in my 50's (which then impacts my ability to be as physically active as I'd like, which then becomes a vicious circle with weight gain etc), so I expect by the mid 70's to early 80's (if I even make it that far) I'll be wanting to have that chat with my kids.



MAID is more complicated than just deciding to apply on a whim, there are requirements. But there's also other options like talking to your family and making your intentions and desires clear, just taking one of the cocktails you can find the ingredients for easily online, and then telling one of those family members that they should "come check on you" tomorrow morning at 9AM, and then climbing into bed to doze off.

Forever.



WIth my luck I'd survive and end up like this lol.

View attachment 74503

If I'm going out on my own accord at some point I want the peaceful quiet method, not the potential "oh **** I didn't expect to wake up from this, why are there hoses in every orifice?!" method lol.
Not all attempts are successful. One case was to be death by subway train but they survived and continued on in life looking like they had been hit by a train.
 
One of my classmates from uni opted for MAID in Ontario due to Alzheimers and partner and I have been chatting about it tho rules are different in Australia.
Still this was inspiring ......

After seeing my mother make 97 and a complete "no memories" but happy and involved in the nursing home, I'm a tad conflicted.
She had no health concerns, she just died of old age.
So is a very limited but with the appearance of being happy existence "better" than just pulling the plug. :unsure:
I've got three nurses in the immediate family all younger than me including partner and their mum died mostly peacefully ( at times cranky ) at one their homes after a few months.
Prior to that she was in a care home near the beach that she was engaged with and enjoyed.
She had some wealth to use for that care and some remainder came to the kids.

I have zilch to support any care cost cept my Canada pension which would not go far however Australia is a good nanny state so....
Yes, you can access aged care services in Australia with a $1,500 monthly pension, regardless of your financial situation. The Australian Government subsidises aged care, ensuring that everyone can receive support even if they cannot afford the full costs.

Your pension can help cover the basic daily care fee, which is currently set at 85% of the standard full aged pension. As of September 20, 2024, this maximum fee was $63.57 per day, or approximately $1,907 per month. Since your pension is $1,500 per month, it may not fully cover this fee, but the government may assist with the shortfall through financial hardship assistance if you meet eligibility criteria.

You may also be assessed for a means-tested care fee based on your income and assets, including your home if you own one. However, if your income and assets are below certain thresholds, you may not need to pay this fee. Additionally, accommodation costs—either as a Refundable Accommodation Deposit (RAD) or Daily Accommodation Payment (DAP)—are determined by your financial assessment, and you may not be required to pay if your assets and income are low.

If you cannot afford any fees, you can apply for financial hardship assistance through Services Australia, which may cover your basic daily fee, means-tested care fee, and/or accommodation costs. To qualify, you must have assets below $41,496 (excluding unrealisable assets) and not have gifted more than $10,000 in the past 12 months or $30,000 in the past 5 years.

In some cases, living in residential aged care may be financially advantageous compared to staying at home, as living expenses in care can be lower once accommodation costs are managed. Your pension can be used to help cover daily living costs, and you may have money left over for personal incidentals.

You can use the My Aged Care fee estimator to get a personalised cost estimate based on your situation. For free, independent support in finding suitable aged care options, you can contact Aged Care Decisions or use the My Aged Care portal to begin the assessment process.
This is a moving target as the population ages out and more options on offer from state and fed govs.
It appears demographically that aging out in care may help the pressure on getting new homes built...a problem both here and in Canada as the cohort is very large. It also suggests that the care home may cost less than assisted home living. 🥴 Very confusing.
Most likely partner will decide as I can feel myself deteriorating mentally at 78 tho both parents cracked 95 ....one completely without memory the other sharp as a tack and still driving legally. 🤷‍♂️
Take it a day at a time and enjoy the time left I guess and happy I'm still out riding on a sunny but very humid day in tropical Cairns. 🌴🌦️ 🏍️
 
One of my classmates from uni opted for MAID in Ontario due to Alzheimers and partner and I have been chatting about it tho rules are different in Australia.
Still this was inspiring ......

After seeing my mother make 97 and a complete "no memories" but happy and involved in the nursing home, I'm a tad conflicted.
She had no health concerns, she just died of old age.
So is a very limited but with the appearance of being happy existence "better" than just pulling the plug. :unsure:
I've got three nurses in the immediate family all younger than me including partner and their mum died mostly peacefully ( at times cranky ) at one their homes after a few months.
Prior to that she was in a care home near the beach that she was engaged with and enjoyed.
She had some wealth to use for that care and some remainder came to the kids.

I have zilch to support any care cost cept my Canada pension which would not go far however Australia is a good nanny state so....

This is a moving target as the population ages out and more options on offer from state and fed govs.
It appears demographically that aging out in care may help the pressure on getting new homes built...a problem both here and in Canada as the cohort is very large. It also suggests that the care home may cost less than assisted home living. 🥴 Very confusing.
Most likely partner will decide as I can feel myself deteriorating mentally at 78 tho both parents cracked 95 ....one completely without memory the other sharp as a tack and still driving legally. 🤷‍♂️
Take it a day at a time and enjoy the time left I guess and happy I'm still out riding on a sunny but very humid day in tropical Cairns. 🌴🌦️ 🏍️
Apparently the rules for MaiD are different and more accommodating in Quebec.

My afterlife includes allowing my survivors some financial benefits and the freedom to live their own lives unburdened of the spoon feeding and diapering of an unresponsive lump of meat.

Who are the "Keep-them-alive" crowd?

Are they vested in long term care?

Are they religious fanatics stuck in their own dogma, believing pain earns you a place in heaven?

I've heard some relate stories about the pain a person goes through as they die.

Huh?

I had two operations last year where my body was invaded, kicked around and chewed up. Both times, all I remember is a anesthetist putting a mask over my face and saying count backwards from ten. I remember getting to five, then waking up in a different room, virtually pain free.

If all hadn't gone well I could have instead awakened to the smell of a BBQ or, on the other hand, a fabric softener commercial with masses of angels.

If it was the latter, I'd miss all you guys.
 
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