55 And Over Community Rules

Have you considered whether a 55 and over community will meet your needs as you approach retirement?

One of the issues facing the average Baby Boomer is accessible, affordable housing.  One option to that requirement is a 55+ community, which offers better accessibility for older adult active community retirement.

Monthly fees for an over 55 living community often run higher than a non-over 55 community, but normally include maintenance of the exterior and can also include housekeeping services.

The community always includes similar aged residents, although for people who like to be in the thick of things, it can make for a quiet neighborhood.

Normally the community includes amenities such as fitness facilities, and exercise programs, and also may include a pool that isn’t inundated with more energetic age groups, such as small children.  Sometimes this can be a negative factor if the older adult happens to like children or young adults around.

According to the Housing for Older Persons Act, (HOPA), 55 and over community rules issued by Portal.HUD.Gov are as follows:

In order to qualify for the “55 or older” housing exemption, a facility or community must satisfy each of the following requirements:

  • At least 80 percent of the units must have at least one occupant who is 55 years of age or older; and
  • The facility or community must publish and adhere to policies and procedures that demonstrate the intent to operate as “55 or older” housing; and
  • The facility or community must comply with HUD’s regulatory requirements for age verification of residents.

The “housing for older persons” exemption does not protect senior housing facilities or communities from liability for housing discrimination based on race, color, religion, sex, disability, or national origin.”

HOPA also states, over and above the 80 % requirement that the housing facility/community may require that at least 80 percent of the units be occupied by at least one person 60 years of age or older. The housing facility/community may require that 100% of the units are occupied by at least one person 55 years of age or older, or that 80% of the units be occupied exclusively by persons aged 55 or older.

However, the facility/community should review other state and local laws, including fair housing laws that may prohibit discrimination based on age, before establishing policies and procedures restricting occupancy based on age, or affecting survivors’ rights to property, that are not covered under HOPA.

If you feel a 55 and older community would be an asset in retirement for you, there are organizations in each state who will be happy to introduce you to communities in your area.

Want to make a will and ensure that your final wishes are carried out. Click here to create your will online now!

If you’d like more information on retirement issues, visit these pages:

A) Baby Boomer Income, for the baby boomer who would like to supplement their income now and into retirement.

B) Baby Boomer Health, assisting baby boomers in staying physically healthy through the coming years into retirement.

C) Baby Boomer Well Being, helping baby boomers stay mentally healthy through retirement years.

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Pool Boy For Rent. Pool Not Required!

NOW I have your attention! This post is for the Baby Boomer ladies out there. And somehow I knew if I threw the pool boy tagline in there it would pull the women in! Did it work?

Pool Boy Needed

As our parents and grandparents moved through life, around 50 for them was a time to stop doing all the things they did when they were younger. Hard work, Mom and Grandma cooking for the family, doing the laundry, making sure the kids got to school, Dad or Granddad working on cars or in the factory. And by the 50s they were worn out! It really was time to find a rocking chair and relax. That was their generation.

Not so with the Baby Boomers! As women of today are hitting that magic mark of 50, they aren’t slowing down, they have a lot of free time on their hands, to go bike riding, hiking, go out to breakfast, lunch, or dinner with their friends and family, go golfing, etc. And yet, as we all get older, the men do start slowing down, because men don’t live as long as women, the women will eventually be alone.

Golfing is a relaxing game.

Being alone doesn’t necessarily have to mean being lonely, as more and more women are beginning to realize, now they can connect with old girlfriends, some of whom may have lost spouses. The female Baby Boomer generation feels more free to go to parties and get-togethers unaccompanied, whereas even a number of years ago society frowned upon going anywhere without an escort.

Clubs exclusively for the more mature women have sprung up for golfing, and other activities, including fitness clubs and spas. And if a baby boomer lady is so inclined there are more and more baby boomer dating websites who cater to the more mature individual looking for a little companionship from the opposite sex, such as Ourtime.com and eHarmony.com. Once upon a time, being a single woman over 50 was a recipe for boredom and loneliness, That was then, this is now!

If you would like to know more about making extra income, see Baby Boomer Extra Income HERE:

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I made someone laugh today!

Actually I make someone laugh EVERY day!  If not myself, then my wonderful wife, or one of my coworkers, or some stranger I’ve never met!  I like making people laugh, as I get older I guess I’m more comfortable with life, or take life a little less serious, or maybe it’s dementia setting in.

If it’s dementia then I’ll have an excuse to dance in the street at midnight in my 62 year old BIRTHDAY suit.  I bet the neighbors can’t wait for THAT!

short funny stories, baby boomer humor

Anyway, I really did make someone laugh!  It could have been pulling up to the stop light this morning to make a right turn but there was an old guy (my age) crossing the street at a leisurely pace (about how I walk lately) but this young in-a-hurry Gen-Xer in a little foreign car (not that there’s anything wrong with that!) decided she would HONK at him and make a left turn so close in front of him I thought his toes had been run over!

He looked at me and and I gave him a shrug and put my hands up.  At that moment, he and I both laughed because we knew Gen-Xers are ALWAYS  in a hurry and WE don’t get in a hurry anymore!  Here’s a guy who had almost been run over and now he’s laughing on the way to the bus stop!

short funny stories, baby boomer humor

National Dinosaur Day

Or, I think it might have been the fact that last Saturday, my birthday fell on National Dinosaur Day this year, so I’m officially a DINOSAUR, because I’m now 62.  The young gal in the front office of one of the schools I work at turned 50 today (the 18th) and I said, “at least you’re not a DINOSAUR like me!!!”  I got a laugh out of her AND the office staff.

It could also have been the guys at work who are there to punch in on the time clock first every day because the quicker they punch in, the quicker they can punch out after work. And they line up at the time clock like sheeple, waiting for the tick of the clock.  I walked in, right up to the time clock with a little bounce in my step and stood there fully aware of being 5 minutes early knowing I was  going to beat those guys to the PUNCH!  No one said a word but they all started laughing because they KNEW what the old guy was up to!  I just laughed back and walked off.

short funny stories, baby boomer humor

Happy Guy!!!

Maybe it was one of my two work buddies who I courteously waved to go down the ladder off the roof first who, when he was halfway down yelled up, “Beauty before age!”, to which I yelled to another coworker, “Can you kick his butt for me before I get down there?”  The answer was “No, he’s younger than me, too!”  They laughed, I laughed, and it was a great day for all of us!

Make someone laugh tomorrow, it’ll do you good!

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Reverse Mortgages, Are They For You?

How does a reverse mortgage work?

In the US, reverse mortgages, called Home Equity Conversion Mortgages (HECM), were created in 1988 under the Reagan administration. We will attempt to explain a reverse mortgage.  A reverse mortgage is a way to use the equity in a home, by borrowing against it. With a reverse mortgage the homeowner is still responsible for the upkeep of the property as well as paying homeowners insurance and property taxes.

The homeowner is paid a certain amount of interest every month on the available equity in the home. This is as opposed to a second mortgage or a home equity loan where the homeowner receives a large sum of money but is required to make a monthly payment of principle and interest on that loan.

In order for a HECM to be an acceptable option, the existing mortgage should be low enough to be able to be paid off with the HECM and still give the homeowner extra cash for living expenses. Accordingly, if the existing loan balance is too high to qualify for the HECM the loan can be paid down to the point the homeowner would qualify for the HECM, if possible.

Generally, eligibility is restricted to 62 years of age or older for the homeowner, however in 2014, the law was revised to allow spouses under the age of 62 to continue with the reverse mortgage after the older spouse has passed away, thereby preventing loss of the home, and/or bankruptcy or financial ruin for the surviving spouse.

Can you explain the process?

Before starting the reverse mortgage process, applicants are required to take an approved counseling course. Eligibility requirements including a financial assessment must be met.

If you owe more than 50% of the value of your home, this is probably not a good option. Most of the time, if a company is advertising on television, that company would be a company to stay away from.

Generally speaking, the older the borrower, the more money will be available, whereas the higher the interest rate, the less the available funds will be across all ages.

The borrower must go through a financial assessment, including having a fairly clean credit record, with no late credit card payments in the last 12 months, and the ability to pay taxes, insurance and upkeep with enough money left over for monthly expenses.

As with any government program, on the one hand, it’s a good program for the 62 and older population who are eligible and qualify for it, if the need exists. On the other hand, there are plenty of scams, insufficient training programs, and questionable lenders who will take advantage of at risk individuals, i.e., the elderly, with or without a real need of the homeowner for the program. As of late, a few updates to the program have taken effect to prevent such fraudulent activities, and certainly more is required.

Canada and Australia also have a program for reverse mortgages similar to the US’s.

Have you been asking yourself, “Should I get a reverse mortgage”?

This reverse mortgage information is only a short, down-and-dirty overview of the explanation and process of the HECM program, and is the opinion of the author.  If a person is interested, and feel they have an actual need for the program, please contact a local reputable banking institute to find out if you qualify and if you have enough equity.

More information can also be obtained from the National Reverse Mortgage Lenders Association, or ReverseMortgage.org (not a paid advertisement). ReverseMortgage.org has a calculator online to help determine who should get a reverse mortgage.

If you are interested in making extra money other than a reverse mortgage, see my post on affiliate marketing.

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The Rock Restaurant, An Aurora Restaurant Review

The Rock Restaurant and Bar, a Baby Boomer paradise, located in Aurora, Colorado.

Do you like family oriented restaurants?  Are you more comfortable in the local eateries as opposed to the chain establishments?  Are you looking for an Aurora restaurant?

A party at the Rock, retirement maybe?

Do I have a place for you!  The Rock Restaurant is located at 22934 East Smoky Hill Road, Aurora, CO, 80016.  Just off E-470 on the south east corner of the Denver area.  Laura and Barb opened the restaurant in the early 2000’s.

The fare offers a little of everything.  Mexican food, some burgers, sandwiches and even a Prime Rib dinner. They even offer my favorite, Chicken Tortilla Soup.

The menus are always updated, offering not only the traditional items but some delicious concoctions such as Laura’s Fried Egg Breakfast Burger, Barb’s French Dip,  and their original and unique New Mexico Burger, made from Texas Toast, and some green chilies.

They also offer a full bar, icluding several local Micro brews, as well their famous Rock-A-Rita.  These things are so good, they only allow two per customer.

When you enter the front door you’re greeted by local kids, sometimes a student or two from one of the local high schools, dedicated to making a good start at becoming a responsible adult in todays world, ready to seat you at a booth, table, or outside on the veranda.  The professional wait staff are friendly, with names like Rachel and Maddie, John and Chance, who are eager to serve the customer with warm smiles.

They have big screen TVs strategically placed around the bar and restaurant areas in case you’d like to watch the Broncos beat the opposing team.

The people who are there are not only regulars to the place, you’ll also see lots of relatives, as well as a local television celebrity or two.

As for my personal rating of a genuine, local, Aurora CO restaurant, I think they are a great restaurant, pricing is reasonable, the Food is good and the atmosphere is pleasing.

So come on out, have a great meal, and enjoy the atmosphere!  We’ll see you there!

What’s your favorite dish/experience at The Rock?  Let us know below!

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