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.
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[BRIEFING.COM] The stock market punctuated July with a broad-based retreat that sent the S&P 500 lower by 2.0% with all ten sectors ending in the red. The benchmark index posted a monthly decline of 1.5%, while the Russell 2000 (-2.3%) underperformed to end the month lower by 6.1%.
To get a better feel for what led to today's retreat, we'd like to look back to Wednesday, when the market had ample reason to rally, but did not. Instead, it ended basically flat after a sloppy day of ... More
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