Thursday, December 23, 2010

Seniors Broke: Moving In With Kids

When the value of stocks and bonds in your portfolio has declined, tapping the bonds of your family can be a valuable asset — especially in retirement.
Joseph Jastrzebski, a 68-year-old manager at Home Depot, wants to retire soon. When he does, he and his wife, Valerie, plan to move in with extended family.
The Sayreville, N.J., couple already live part-time with their daughter, son-in-law and grandchildren. Once they sell the family home the Jastrzebskis will move in permanently.
"It will afford us an opportunity to save money and have something left for our children," says Valerie, a 63-year-old secretary. "We are doing it because this is a situation that presented itself that is ideal for everyone."
Valerie's daughter, Sarah, mother of a five-month-old boy and step-mom to two teenagers, is working as an administrative assistant while studying for a master's degree in holistic health studies. She agrees combining their households makes sense.
"A lot of times now with retirement we see someone ends up in a nursing home or other facility like that," Sarah says. "I think staying with your family is the way to go."


  1. This, for me, is probably the scariest coming depression post I've seen. Mother-in-law AND father-in-law moving in with the wife and me? THAT'S scary!

  2. The link is NG for the rest of the article.

  3. Not a bad idea. If you end up in a nursing home anyway, the State will not be able to lien your home.

  4. Good idea - strength in numbers and boy, we're gonna need it. It's one of the ways we're able to be pushed around by the corporate authoritarians - isolate 'consumers' (note: never 'citizens') into small, nuclear units and they can manipulate us more easily. I'm all for extended families again, either living together or very close by.

  5. so it's similar to what we'd see in 2nd and third world countries..generations living together in 1 house. it was normal in europe also and when a junior member would marry they'd add an extension to the house, you'd end up with these huge houses with a wing built for grandfolk only etc. but they didn't consider then it was 2nd world..thus was the term-homeownership dream-really the way..suburbs w/o farming, bills paid for status of being homeowner, now unability to get along with family as it's not norm/learned..dunno..tradeoffs.
    1 thing sure saves money, when up to a 3rd of electric bill for example is simply administrative cost of being plugged in/paper wonder the blue bloods amassed wealth, they all lived in 1 huge castle.

  6. Agreed, we should be moving in and helping each other out. The idea of the "nuclear" family was idiotic in the extreme. All designd by the corporations to get us more dependent upon them instead of the family.

  7. It's going to be so fun when all my family members are together again under one roof. I can't wait for all the neighbors to shuffle in once the hyperinflation happens and the dollar is gone. The human spirit will awaken and it will crush all material forces that have sucked us from our true nature.

  8. jesus mary and joseph!
    just like the modern Chinese ,little emporers, the perfect nuclear family one child setup for capitalism.
    Abort the rest ,the excess ,,that are now overpopulating and overcrowding the houses in America.

  9. Great information. I have three questions?

    1) How can the younger generation handle the financial burdens of inflation, international economies, and caring for the senior generation?

    2) Could, perhaps, exiting the United States, at least to set up a base internationally, be a financially prudent move?

    3) What is the best way to attain and maintain individual financial success to ensure one is not dependent in their later years?

  10. Answers for Roth:

    1) They can't and won't.

    2) Heading for anywhere out of a crowded city is wise, and yes, if you can leave the USA to a remote island or somewhere like Belize you'd be acting very prudent. Most don't have the money unfortunately, or their heads out of their asses to see what's coming.

    3) Irrelevant. Once hyperinflation occurs, annihilation of the dollar, the country will vanish and total anarchy will break out. All people will be dropped to the same level. There will be no more people working in stores, no cops, no teachers, no politicians. It will be you and your local group of people that will determine your "financial success" now and later. With the new currency being 'Community'.

    Until then, as everything continues rotting in this world, the safest way to navigate through it all is to ignore it all. Don't try fighting anything or holding anything back. Let it all go and watch it all burn. If you see a piece of information about anything related to the economy, politics, or other countries it is absolutely meaningless.

    Get the highest resolution (range and detail of information) possible.

    "Don't focus in on the moon, or you'll miss all the heavenly glory." - Bruce Lee.

  11. Responses for Anonymous:

    1) Haha, so what happens to the unsupported seniors?

    2) Interesting.

    3) As everyone's standard of living plummets with the system, do you think it is possible for those who are richer to have their wealth vastly confiscated by inflation, yet still be rich by comparison to those who were less financially successful? If so, then would there be any incentive to continue to watch it all burn, yet earn more money in the mean time to in order to invest in a higher and safer position from which to watch the burning? Also, what happens to the United States within 10 years following the crisis?

  12. I think its brilliant. On both sides of my family the great grandparents lived with a member of the grandparents generation. In the next generation there was an attempt to stay on the same street or neighborhood. This offered a true support system, spared children from day care centers and allowed the family to prosper.

    Conversely with my generation the parents moved away from the children. Retiring to the South and Southwest and fractured the family.


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