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Is $100 a significant amount, a lot for you? A threshold?

I knew someone who had a reverse mortgage. Once they were no longer living in their home, i.e. they were now in memory care, the loan needed to be repaid within 12 months. The house had to be sold. It is something to keep in mind and a reminder to make sure to read the terms of the loan closely.
Could be. The terms of the mortgage state that the loan must be repaid after death in a certain amount of time (maybe 12 months). But it may also require that you still occupy the home as a primary residence and not that you rent it out and move to Belize. If you choose to do the latter, or if you're now in long term memory care, you're basically "dead" in terms of the mortgage agreement and your home may very well have to be sold.

Doesn't seem unreasonable to me as the government wants to insure that the value of the home will be at its highest level (usually when it's owner occupied) at all times. Why would it be bad to repay a lender when you enter long term, irreversible memory care? Why might you not want the home to be sold to repay the loan?

Of course, if it were reversible memory care, such that you would be going home at some point, nothing could ever be sold.
 
I imagine the lenders want top tier full replacement inflation adjusted insurance coverage too.

First of all, "the lender" is not at all at risk because the US government guarantees the loan.

But no, the only insurance requirement is regular replacement insurance coverage that everyone else has.
 
I knew someone who had a reverse mortgage. Once they were no longer living in their home, i.e. they were now in memory care, the loan needed to be repaid within 12 months. The house had to be sold. It is something to keep in mind and a reminder to make sure to read the terms of the loan closely.
One last point. Just to make it clear, when I say the home must be sold after a borrower's death (both borrowers if married), I'm merely saying the loan has to be satisfied. Nobody's saying that the heirs will be forced at gunpoint to sell the home. If someone, a son, a daughter, wants to pay off the loan by refinancing it, they can do so. And thereafter live in the home. Just like in any other beneficiary situation.
 
One last point. Just to make it clear, when I say the home must be sold after a borrower's death (both borrowers if married), I'm merely saying the loan has to be satisfied. Nobody's saying that the heirs will be forced at gunpoint to sell the home. If someone, a son, a daughter, wants to pay off the loan by refinancing it, they can do so. And thereafter live in the home. Just like in any other beneficiary situation.
My apologies to OP for going off topic. I've suggested a Reverse Mortgage to several people. Just happened to hear of this situation -- needing a new roof -- recently. Key would be to NOT spend all the money.
 
What really hurts is paying for my son’s family to visit from Boston area during spring vacation. $3600 for plane tickets last few years
I know what you are going to say, but when we moved to Florida we promised to pay for flights when they came to see us. It’s the only time I see them all year,band tied to school schedule
I've paid for many members of my family to go to Florida from Boston and our total expenditure never came close to $3600. Sounds like those plane tickets cost so much because they're last minute purchases. Since school vacation periods are known many, many months in advance, it seems like you could buy the tickets early and save a good bit of money.

Then again, I don't know how many kids your son's family has. The Wholeys in my neighborhood where I grew up had 17 kids. Not much that can be done under those circumstances.
 
My apologies to OP for going off topic. I've suggested a Reverse Mortgage to several people. Just happened to hear of this situation -- needing a new roof -- recently. Key would be to NOT spend all the money.
Since you can choose to never make any mortgage payments, another key is to budget your income appropriately. I'm surprised their social security income, even if that's all they get, wouldn't have allowed them to save anything over time.

In fact, no one said they had to take a lump sum in cash when they got their mortgage. You can be approved for such and such amount credit line and write a check when, and only when, you need to. And have interest accrue on only what you've taken out.
 
The part of the Reverse Mortgage story that you didn't mention -- the interest on the loan is added every month to the balance owed.
I have a neighbor who now owes more than the home is worth, spent all of the loan proceeds and now needs a new roof!
They won then. Live there as long as they can then walk away.
 
I've paid for many members of my family to go to Florida from Boston and our total expenditure never came close to $3600. Sounds like those plane tickets cost so much because they're last minute purchases. Since school vacation periods are known many, many months in advance, it seems like you could buy the tickets early and save a good bit of money.

Then again, I don't know how many kids your son's family has. The Wholeys in my neighborhood where I grew up had 17 kids. Not much that can be done under those circumstances.
Three people, bad seats, either of the two vacations for the schools, Feb or April, starts looking in the fall.
 
$100 or more (or less) for something requires a decision as to is it something I really think is it worth it. If yes, buy it. If no, don’t.
 
I didn't want to limit $100 to food.

How about going to a Concert, a sporting event ticket, ....a Sports Jacket.... a Nice Tennis Racket, ...Cable TV/Internet Bill....etc...............
$100 for lunch would be very unusual - I’d say anywhere between $15-30pp for lunch is our average. For dinner, $100 is not unusual for the two of us since we don’t go out much so when we do, we typically also order appetizer(s), sometimes drinks and sometimes dessert - which we typically share between the two of us. A cheap dinner would be around $25pp in our area. We also often buy gift cards (like $80 for $100) to save monies when eating out. So even if we spend $100 - we really “only” spent $80.

For concerts $100 is nothing really - at least for popular bands/singers these days. I think we recently spent around $80pp for an outdoor concert at the Delaware State Fair in late July and that’s about as cheap as it gets for concerts. We saw Warren Zeiders - a rising country artist. We are attending Country Calling in the fall in OCMD this year. We bought VIP tickets which are around $800pp. It’s a two day multi-artist large event. Last year (maybe it was two years ago now) we saw Jelly Roll in DC and IIRC we spent around $200pp. Concerts with popular artists and decent seats are not cheap so $100 doesn’t go very far IME.

We have GB Verizon FIOS service at home and spend around $90/month which includes the base router and a range extender. I WFH full time so high stable video capable bandwidth is important. Just a couple of examples.
 
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There is a post on TUG about someone spending $100 for the first time on Lunch.
(I didn't want to hijack that post, so I started this separate thread.)

$100 is a number I think about often.

So, the TUGger spent their first Lunch at that number...... I haven't spent that much yet.

I play GOLF often (not that well, but immaterial) ..... $100 is a number that I set as a MAX for me. Inflation has made this difficult, as I have played golf for more than 50 years. I have done well with that threshold, but it is simply a matter of time............... there is no "penny candy' anymore....and no Phone booth 10 cent call......etc.

I spent $95 (+ tax = $100) in the 80's once.

I had friends bring me to their Private Course..... we never discussed how much....so I gave then $100 each for me/DW.

A recent vacation I paid $125 for DW....but I was 'comped'...... so I have never paid "more than $100" for golf for ME.

A different $100 story. When Larry Holmes fought Marvin Frazier, a friend braggingly said Larry would lose....I thought that was absolutely an unlikely occurrence. He confidently said if I put up 4-1 odds, his $25 would cost me $100 if I lost . Again, $100 was a LOT for me, but with an audience present, I wanted to WIN this bet. Fortunately for me, 2 minutes 57 seconds later, I (actually quite humbly) was in the process of collecting his $25. Let's just say the crowd was happy that I had accepted his 'bravado' body language that he often portrayed. That was more of my motive.....I certainly didn't want to lose the BIG number of $100.

One last $100 story.....I flew into the Arizona airport.....and had a few minutes to go into a sports store. At the front of the store....marked down....a Cowboys Leather jacket!!! Originally $299, now $100.

That remains the FASTEST $100 I have ever spent.

So TUGgers, it may be a different amount of money for you than $100....perhaps $10, $25....$500, $1000..... but what are your stories of a particular threshold or limit for YOU.?

Sorry about the long post, but I hope it generates some fun reminiscing.

While $100 isn’t a significant amount, it’s not chump change either.

I remember when $150 for dinner for two was a fancy restaurant. I can drop that much at Firebirds, which is a chain restaurant these days.

We use to only dine out when we were on vacation. The cost difference today between cooking a couple of burgers at home vs getting a couple of burgers at a restaurant is significant enough we cook at the timeshare. Same with steak dinners. For the price of one steak dinner at a nice restaurant we’ll have three steak dinners at the timeshare. Six steaks cost me less than $70. One steak dinner at a decent restaurant is typically north of $50. For the price of one dinner out well enjoy 3.
 
Another question is, when you go to the grocery store do you look at or are concerned with price? We know someone who isn't. They go, put stuff in their cart and pay. They don't worry about the price, they get what they want. It seems when you have a certain level of wealth, those things just aren't as important. What is the difference between a $300 shopping trip vs $400.

We are. I just made the command decision to dump the rental car and purchase a YETI cooler. We have a new pup and decided to break the 10 drive into two 5 hour drives, so we used rewards points and spent one night in a hotel. The steaks and burgers were still frozen when we arrived without having to add ice. Considering the price of things it might turn out to be the best investment I’ve made in a while.
 
I understand that restaurants in the USA cost more because of labor and insurance. What I don't understand is that restaurants and services in Cabo cost the same as the USA but I was told by the local cab driver that service employees only get paid $20/day. Someone is making a fat profit.
 
I understand that restaurants in the USA cost more because of labor and insurance. What I don't understand is that restaurants and services in Cabo cost the same as the USA but I was told by the local cab driver that service employees only get paid $20/day. Someone is making a fat profit.
I've noticed that prices in Mexico, especially those in the prime tourist destinations like Cancun (and Cabo) have gone up significantly. When we started going to Cancun in the early 2010s, eating out was a bargain compared to the USA. Now prices are more in line with the US. The reason, because they can. I agree, someone is making a lot of money there. Cancun more and more feels like a shakedown. Get you in, empty your pockets as best they can, then push you out the door.
 
I don’t know many places that aren’t fast food where you can find lunch on the menu for under $15. That’s no beverage. Add tax and tip and you need more than $20. But more common to find lunchventree about 18 to 22
 
I'm not so sure it has to do with wealth. There are plenty of people out there who are wealthy who would balk at paying exorbitant amounts for anything, including (perhaps especially) groceries.
It's one thing if you go to one store and it's 30% more than any other store around for the same thing - simple solution, buy from a different store. It's another thing when it's basically inflation or a cartel maybe but there's no options. Or the options are changing things - depends on your willingness to change what you eat, or your energy levels and / or interest in hunting down deals or how far you want to drive or how much extra work you can take on.
I check out each supermarket's weekly flyer via my cell phone. And consider every item for which there's a good sales price as if there just happens to be a harvest for that item so that it's temporarily at a great price. And buy accordingly.
So, I know it's a little hypocritical of me to bring this up on a timeshare / travel hacks forum, but what you're describing is a hobby, not a general savings tip. It can be a good hobby, it can be a fun hobby. Add couponing to the mix too and you can really save money at the cost of time and gas as you drive around to each store. I just don't think not wanting to take on that hobby, just like not wanting to take on travel hacking == being irresponsible with money.
I also balk at crazy restaurant prices that had been reasonable pre-Covid and that in some cases became very much unreasonable after Covid. And I understand why. They had lost a good bit of business during Covid and want to recoup it. And people had been isolated in their "cabins" for so long they just wanted to LIVE again. And restaurants took full advantage with their new pricing. But I won't be paying those oftentimes outrageously increased prices.
Yea, and whats worse is too often the restaurant food is so bad that you're basically paying (and this might be more literal than you think) someone else to pull out a frozen meal and microwave it for you. At that point I often think - I have a dishwasher, I have a microwave - at least some of this stuff if I could easily get frozen versions for less, it'd be well worth it to me. But I've noticed since timeshareing (so I spend a lot more time in different grocery stores than I used to) that frozen meal options also seem to have ended up much more restricted - like less options on the shelf. As a simple example, I'm pretty sure 20ish years ago, you could go into basically any store and there would be 8 or more different Hungry Man varieties, including Max which was even more food. Now I often see 2-3 varieties. I swear 10ish years ago, there were dozens of "skilled meal" options, now I often see about 10 across 3 brands.

Even worse is the massive rise of the "healthy choice steamer" style bowls or just normal bowls that size. This is now something like 60% of the frozen lunch/dinner isle, and the calories are often around 250. Say what you want about losing weight, or eating healthy - 250 calories is not sufficient for most adults as a meal. So you end up needing at least 2, and they're already running you $4 each.

I probably should look into if I can get SYSCO to deliver direct to me lol - Schwanns went out of business much to my dismay.
I've (we've) always thought that one should eat out at restaurants whenever there might be something you can't cook on your own. So I'm more inclined to eat out at Indian, Vietnamese, and Chinese places. I can't attain the same flavors as those ethnic restaurants. And it just so happens most of those ethnic restaurants are relatively inexpensive despite serving delicious food.
They used to be. Now I've noticed the Chinese takeout is $15 a person, the Thai is $20, they all cost around $20 a person no matter what for take out. Eat in and you add $4-$12 for drinks (usually no free refills).
When I cook (most often), I try to limit the costs of my ingredients. And there are many ways to do so.
True - if you take it on as another hobby, you can do meal prep and actually use food bought in bulk and save money. But I have found that way more meals call for 3 hours of prep, cooking, cleanup than take 20 minutes. Even the "fast" pressure cooker recipes never seem to count the "getting up to pressure" and "releasing pressure" time which can be significant. And their prep times can be wildly optimistic IMO. But it's not my hobby, so I'm probably not as fast as someone who works on recipes all day to provide timing on prep.
For example, we eat a lot of chicken thigh meals, Grilled chicken thighs, mulligatawny soup, etc. Boneless, skinless chicken thighs are what many recipes call for. Yet, boneless, skinless chicken thighs costs $3.99 per pound (expensive). But chicken thighs with skin and its bone costs 99 cents per pound (inexpensive).
What I wonder here though is how much do you "lose" of the pound you paid for because of the bone?
It takes a few minutes to cut off the skin with shears and to cut out the bone (if you don't know how, there are many Youtube videos that show you how to do it in perhaps less than a minute). And voila! You have an extraordinary meal for next to nothing in cost.
If you happen to like dark meat chicken, which I do not, but yes - I probably see the same sort of thing for making rice with a rice cooker vs buying the packet microwavable rice say.
 
We are. I just made the command decision to dump the rental car and purchase a YETI cooler. We have a new pup and decided to break the 10 drive into two 5 hour drives, so we used rewards points and spent one night in a hotel. The steaks and burgers were still frozen when we arrived without having to add ice. Considering the price of things it might turn out to be the best investment I’ve made in a while.
One of the best things I bought for longer trips / timeshares is a 12V "cooler shaped" fridge/freezer from Temu for ~$350. I added a $250 temu battery pack that can run it for about 9 hours and charges from the car while we're driving. It's great - it keeps things fully frozen or fridge cooled as long as you give it power, either from the car or the battery. It also lets you configure the temp for each side to be whatever, so you can have both fridge, both freezer, or whichever one you want as each as meets your food needs. The only thing that would be nice would be a even larger battery pack, but usually the one I have is fine.
 
One of the best things I bought for longer trips / timeshares is a 12V "cooler shaped" fridge/freezer from Temu for ~$350. I added a $250 temu battery pack that can run it for about 9 hours and charges from the car while we're driving. It's great - it keeps things fully frozen or fridge cooled as long as you give it power, either from the car or the battery. It also lets you configure the temp for each side to be whatever, so you can have both fridge, both freezer, or whichever one you want as each as meets your food needs. The only thing that would be nice would be a even larger battery pack, but usually the one I have is fine.
I was also going to mention 12v refrigerators. They've exploded in popularity with conversion vans, overlanding, etc. Most can run off 12v accessory plug in car and also come with an AC brick to run off a wall outlet. Nice to travel with as you can use in car and then take into hotel/TS to plug into AC. The smaller name brand units are $200ish.
 
Could be. The terms of the mortgage state that the loan must be repaid after death in a certain amount of time (maybe 12 months). But it may also require that you still occupy the home as a primary residence and not that you rent it out and move to Belize. If you choose to do the latter, or if you're now in long term memory care, you're basically "dead" in terms of the mortgage agreement and your home may very well have to be sold.

Doesn't seem unreasonable to me as the government wants to insure that the value of the home will be at its highest level (usually when it's owner occupied) at all times. Why would it be bad to repay a lender when you enter long term, irreversible memory care? Why might you not want the home to be sold to repay the loan?

Of course, if it were reversible memory care, such that you would be going home at some point, nothing could ever be sold.
In some states there may be enough appreciation in the home value that a sale triggers a taxable gain. If you die first then the step up solves that problem.
 
I was in Waikiki and went for an early morning walk with my wife. I saw what I thought was a wet dollar bill stuck on the side of a curb. Picked it up and saw that it was a $100 dollar bill. I felt like I had won the lottery.
 
I was in Waikiki and went for an early morning walk with my wife. I saw what I thought was a wet dollar bill stuck on the side of a curb. Picked it up and saw that it was a $100 dollar bill. I felt like I had won the lottery.
NICE!!!
 
I was in Waikiki and went for an early morning walk with my wife. I saw what I thought was a wet dollar bill stuck on the side of a curb. Picked it up and saw that it was a $100 dollar bill. I felt like I had won the lottery.

Cool
I suppose finding a $100 dollar bill feels more significant than getting a $100 discount when buying a car or house
 
Not sure I've ever spent $100 for a meal for 2 people. Rarely go out to eat more than twice a week. Most of the time when we eat out, we go for the $9.99 off-the-menu special (you have to ask for it) at Applebee's; burger or chicken sandwich, fries, and a soft drink. Can't beat it for a table service meal, $25 for two people, including the tip.
UPDATE: I heard from a friend (another part of Florida from where I live) this weekend that Applebee's is now restricting their $9.99 special to Monday thru Friday and only until 2:00PM. Disappointing. I haven't verified it myself yet. Don't know if it is chain-wide or franchise specific.
 
I know I speak for a lot of older people when I mention the price of a holiday buffet.
It is not uncommon for Mother’s Day, Easter, thanksgiving, to be $79 or $89.
I just cannot eat enough to justify that price, and there is no doggy bag.
Yes, there is plenty to eat, and it is delicious, and it is expensive to put together but any restaurant meal usually lasts me two or three meals,
 
TLDR. Based on OP's few items:
- I have rarely spent $100 per person on lunch
- If I were to invite friends to play at our private course, it costs $175 per person per round. Public rates through hotel is $500 per round.
- When we play at public course while travelling, we have spent $300+ per person per round at Aviara, and a few other spendy courses. At most public courses, my budget is under $200 per round unless it is one of those famous ones we will spend more. Courses under $100 are typically too much of cow pastures for us. We are planning on spending $12K to stay for 5 to 6 nights at Spanish Bay and play at Pebble Beach, Spanish Bay and Spyglass.
- With live concerts, for most of them we pay way above $200. Celine Dion, Shania Twain, Elton John and Backstreet Boys concerts to name just a few, we paid more than $350 per person. Anything less is nose bleed seats and we might as well watch them on Youtube.
 
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