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If a five-figure roof replacement wiped out his savings, how was he planning to pay for things in retirement?
by quickthrowman 5y ago
If a five-figure roof replacement wiped out his savings, how was he planning to pay for things in retirement?
- CamperBob2 5y agoSell the house? I think that's a pretty common 'strategy', at this point.
- quickthrowman 5y agoAnd live..where? Plus, if you sell the house with a bad roof, a smart buyer would insist on paying market value minus cost of roof replacement. If you replace roof, you’ll get market value. Either way, you’re going to lose the roof replacement cost.
- lmm 5y agoI don't know all the details of his finances, but he'd worked in government all his life and had a pretty good pension. He also moved out of the city to a lower cost of living area, although I don't know whether that was in his original plan or not.
- quickthrowman 5y agoAh, some government pensions are pretty generous, that makes sense.