Another source of help might be available through a local Senior Center.
Here they have a program called Grey Law that involves lawyers donating time
to helping low-income seniors.

<rog350[at]webtv.net> wrote
- quote -

Can you list specific questions that you have? It's possible
people here might have some good suggestions. At a minimum,
the responses here might better prepare you for a meeting
with a financial advisor, and so save you money.

What exactly are your intentions once arriving in Florida?
Have your parents invited you to stay with them? Are your
parents asking you for help with their financial planning?

Not sure that I have anything to add, just a kind of reiteration of
what's already posted.

If moving to help your parents will reduce both your own and their
expenses, then your questions seem to hinge on a couple of legal points
as regards subsidized housing, and in addition to the generous offer
above, might also be answered at a legal self-help center. You should
request references to the law itself, read it over, and then contact
the government agency providing you with documentation qualifying you
for subsidized housing. (The legal self-help people may try to refer
you to lawyers, some of whom will offer free initial consultations - my
opinion is that you would do better contacting the government directly.
Government employees very often know the nuts and bolts of how things
work, and may be able to answer a variety of questions.)

The State laws and regulations may not be the same in Florida, so make
sure you check on both State and regional availability, and terms, of
subsidized housing in Florida. Check conditions and also utility bills.
Also find out how you could move back to Massachusetts if things don't
work out in Florida.

You did not mention your work, but the job market in the area you are
moving to is a consideration. You appear to have at least average
intelligence, and with a computer you might find supplemental
employment that allowed you to work from your home. Check with
employment agencies.

rog350[at]webtv.net wrote:
- quote -

You seem to be in a very difficult situation. Investors accumulate
surplus income and invest capital for a return. You and your parents
seem to be living very frugally already. There is not a lot of capital
accumulated to invest.

Perhaps what you really need is a financial aid advisor or social
services advisor. The government has lots of programs to help low
income and disabled people.

Look in other places for these. This is a general forum and you are
unlikely to find a low income handicapped Florida investors here.

The only way to determine which alternative is best is to work out in
detail what happens in both cases and compare them. What is the equity
in your parents house? Will they leave behind (medical) bills?

Living for free with your parents would seem to be better than
subsidized housing. You can help your parents. When one parent dies
will the S.S. of the other allow them to keep the house? When both
parents die will you inherit the house? Even with a step up in basis
will you be able to live there? I don't see how you could do this on
$700/month. Your housing situation is definitely at risk if you move
to Florida and one or both parents die. Can you get your subsidized
housing back again?

Do the best you can to work out on paper the "what if" scenarios. Yes,
it is annoying to work out in detail the "doesn't work" scenarios. If
you have specific questions come back and ask them.

Best of Luck to You

Richard,
If you have specific questions, I will be glad to help you. I am a
retired financial consultant, having spent over 20 years in major CPA
firms helping people. I post answers on discussion boards like this
occasionally if I can answer peoples questions, but I can't do a full
"financial plan" for you. I'm not selling anything, just trying to be
helpful, since I'm financially independent.
You can contact me through www.leovidalconsulting.com. If you like, I
could also give you a free copy of my book "The 76 Biggest Financial
Mistakes Made by Retirees, and What to do About Them."
Your question here seems to revolve around subsidized housing, when you
ask if the move to help your parents would be a bad move financially.
If you can live with them for free, it seems like it would be a good
move financially (of course, depending how well you get along with
them, if they have enough room, etc.) Also, is your subsidy a federal
program that would apply to you as well in Florida, like Section 8? If
so, then the move wouldn't hurt you. Sounds like you don't own
property so wouldn't incur the costs of moving like closing costs,
commissions, etc. etc. Seems like with your income that sharing
housing would be a good financial move. You also don't say exactly
what kind of help they need, and how you would help them, but I assume
that with you there it may help them avoid having to hire home health
care, at least in part.
Hope this helps, and if not, let me know.
Leo J. Vidal, JD, MA, CPA
www.leovidalconsulting.com

I am disabled and live on $700. monthly and live in subsidized housing
in Massachusetts.
My parents who are in their late 80's live in Florida. They have a
condo worth around 80K and their only income is S.S. of roughly $1600.
monthly. They also have a stock account with roughly 35K and their
S.S. is deposited into a non interest bearing checking with roughly 17K
in it. I think of moving down their to help them but don't know if
this would be a bad financial move for myself. My question is where
can I get financial advice ? I want to see someone that understand the
concerns of the disabled and elderly that are not rich. How do I find
someone who understands our situation ?


Richard in Massachusetts