Quote:
Originally posted by Craig911
My estate planner advised me to do exactly what I have advised here. I answered his question - how to afford - WHILE being intelligent and using resources.
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Technically, my question was which source of funds to tap first, the annuities, IRA or CDs. The first two will have some tax consequences and the CDs will have an interest consequence.
Renting the house isn't much of an option. Probably at most we could get $300/month or so. There is a chance Dad will go home and as long as he thinks that - he won't rent it or sell it.
The house is paid for and the $60k estimate is very optimistic. Selling as is in a hurry might require selling it in the $40K range.
This is in the middle of nowhere in the Midwest. His house in my neighborhood would probably be priced at $750,000......