That stage of life where life just got a little more complicated. We have proposed moving our low net-worth, no English speaking in-laws from MCOL mid-west city to HCOL city in WA. What are some resources that can assist them for housing and healthcare? We will help with incidentals (grocery, etc.) if required to offset the higher COL in the destination area. Details below.
Background
My in-laws (65, 70) are going to retire imminently. They are immigrants and do not speak English. Currently reside in MCOL mid-west suburbs. We are in HCOL city in WA. There will be no one close to them that could help them in daily life activities which requires interaction with others like booking and attending doctor appointments, getting car maintained, doing taxes, understanding what the mails says etc. Hence, our proposal for them to move such that we can help especially since there is no job keeping them in place.
Finances
Have a paid-off 250-300k 1960 house in MCOL suburbs. If/when they move, we shall sell as-is. House needs cosmetic updates and ideally some non-urgent repairs.
We will try to get a better idea of savings. While they never earned much, as hard-working immigrants, they lived prudently and saved as much as they could. With a paid-off house, little (unknown) retirement savings, assuming ~1k SS/month and some help from us (property tax, insurance), they can manage living where they are. Except for the challenges of requiring doctor checkups, some conditions to manage, etc.
Low-income support resources
Background
My in-laws (65, 70) are going to retire imminently. They are immigrants and do not speak English. Currently reside in MCOL mid-west suburbs. We are in HCOL city in WA. There will be no one close to them that could help them in daily life activities which requires interaction with others like booking and attending doctor appointments, getting car maintained, doing taxes, understanding what the mails says etc. Hence, our proposal for them to move such that we can help especially since there is no job keeping them in place.
Finances
Have a paid-off 250-300k 1960 house in MCOL suburbs. If/when they move, we shall sell as-is. House needs cosmetic updates and ideally some non-urgent repairs.
We will try to get a better idea of savings. While they never earned much, as hard-working immigrants, they lived prudently and saved as much as they could. With a paid-off house, little (unknown) retirement savings, assuming ~1k SS/month and some help from us (property tax, insurance), they can manage living where they are. Except for the challenges of requiring doctor checkups, some conditions to manage, etc.
Low-income support resources
- Can they be eligible for "low-income" housing in WA? What is a good resource for eligibility? Implications due to selling the house and netting the proceeds?
- Anything to consider re: healthcare services in WA, Medicare/Medicaid?
- Tax implications for us. Do we consider them as "dependents" once they move with us?
- Anything else I haven't thought of yet?
Statistics: Posted by slbnoob — Thu Feb 15, 2024 12:30 am — Replies 1 — Views 78