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Universal Love TRTT Part 8: Random thoughts also sack Hinkley

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Was having a serious chat with my Mum and a Lawyer about her going into a retirement village and what it means for me as executor of her will and so on.

I got distracted and giggled. They asked what I was giggling at.

What I was giggling at:



What I said I was giggling at "ah, nothing."


Those places are a rort. Whatever bond she pays to move into the village, kiss about 40% of it goodbye.
 

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Those places are a rort. Whatever bond she pays to move into the village, kiss about 40% of it goodbye.

Actually this deal is pretty rock solid. Guaranteed future value of 75% of what she pays for the house to get in, 25% to the village. No further fees aside from a fortnightly payment which goes into a cash pool for the village to buy shit, hire electricians to change lightbulbs, plumbers to fix issues etc.

It's not a bad deal, she gets everything she needs and doesn't need her kids to help her out with anything.

There was another option which was potentially more lucrative when she passes on, but it also hedges bets on the housing market which is too risky at that stage of her life.

Basically it's gonna cost her 150k for 15-20 years of living there.
 

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Actually this deal is pretty rock solid. Guaranteed future value of 75% of what she pays for the house to get in, 25% to the village. No further fees aside from a fortnightly payment which goes into a cash pool for the village to buy s**t, hire electricians to change lightbulbs, plumbers to fix issues etc.

It's not a bad deal, she gets everything she needs and doesn't need her kids to help her out with anything.

There was another option which was potentially more lucrative when she passes on, but it also hedges bets on the housing market which is too risky at that stage of her life.

Basically it's gonna cost her 150k for 15-20 years of living there.

That's actually pretty good comparatively. I see a few of those agreements in my line of work and for the most part you're looking at about a 35% loss when the person moves out or dies, plus whatever refurbishment and remarketing fees they try to stick you with.
 
That's actually pretty good comparatively. I see a few of those agreements in my line of work and for the most part you're looking at about a 35% loss when the person moves out or dies, plus whatever refurbishment and remarketing fees they try to stick you with.

Yep. This is why we are engaging a retirement village specialist to pore over the contract and explain everything in familiar terms.

We considered lend lease but their contracts were a little garbage. Stockland in Somerton Park is the one shes looking at now. Seems more than reasonable and there is alot of provision for her to move into serviced apartments at a later date with no extra fees and also home care packages in her current house if she wants as she gets older (for a price but the price was fair). Those prices are locked in at the time of the contract signing so that means in 15 years the price has increased to 20k for home care, she will only pay 15k which was the price at the time she signed the contract.

Lots of other provisions around if stockland go broke, her money is guaranteed back as when stockland take the money for a house they cant then use it to run the business. It has to be locked away by law.

There was a big review in 2014 on the retirement village act which tightened a bunch of things which is good.
 
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You've never seen it???
No I had, but I was younger so I didn’t pick up on a lot of the jokes. I also wouldn’t have known they were all the same age back then, knowing which makes it much funnier.

I’m really surprised at how well it’s aged. The writing is fantastic, and they absolutely nail suburbia.

My girlfriend’s mum’s kitchen is almost identical to the one in the show.
 
No I had, but I was younger so I didn’t pick up on a lot of the jokes. I also wouldn’t have known they were all the same age back then, knowing which makes it much funnier.

I’m really surprised at how well it’s aged. The writing is fantastic, and they absolutely nail suburbia.

My girlfriend’s mum’s kitchen is almost identical to the one in the show.

There's a lot of jokes of the time ie John Howard, dial up internet, but for the most part it's a lot ****ing sharper watching now than when I was a teen. It's brilliant, first couple of season literally no weak spots.
 
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