A real-life 'Golden Girls' retirement
3 women in their 60s bought a Pittsburgh home together and share all costs, breaking traditional norms.
It's a neat story of women who don't want to live alone or in a standard retirement community. They are single, and still working even though they are in their mid-sixties, Reuters reports. But they plan to continue living in the home after they retire.
The women are all divorced and knew each other from attending the same church. They call the setup "cooperative housing," and here's how it works, according to Reuters:
- They bought a four-story, $395,000 house together in 2004. They took out a $300,000 mortgage on the property.
- They had a lawyer draw up the papers to form a general partnership that owns the home. No one can sell their share of the home unless the other two women approve.
- Each woman pays $1,600 a month, which goes toward the mortgage, taxes, utilities, home maintenance and food.
- They are casual about sharing food. Each can cook whatever she wants whenever she wants.
You can read more about the women in a book they have written about the setup. It's called "My House, Our House: Living Far Better for Far Less in a Cooperative Household."
Was thinking about this just recently...Have a few friends, (just a couple) that co-habit like this..
It saves them money going in together to pay common bills...That otherwise would be expensive to live alone...
It can work out, but anyone involved has to have their own space also...imo.
Consider when they are older, they can also share a housekeeper or a stop in/live in nurse by the same advantages.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The stock market began the last week of July on a quiet note with the S&P 500 ending less than a point above its flat line. Like the benchmark index, the Dow Jones Industrial Average (+0.1%) also posted a slim gain, while the Russell 2000 (-0.5%) and Nasdaq Composite (-0.1%) lagged throughout the session.
The major averages were awakened from their weekend slumber with an opening retreat that pressured the S&P 500 below its 20-day moving average (1975). Even though ... More
More Market News
'We're not exactly in a uniformly strong market,' says the notably pessimistic newsletter publisher.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'