Selling house for assisted living: financial questions

1

With failing physical health, assisting living is looking possible, even with all the many MANY negatives of such a move.

So, considering only the $$$ issues…

Selling the house [paid off for decades] It would mean a sudden $350-400k, so what to do with it?

Continue with my many VG accounts?
Play it sate with 4.70-5.1% CD’s?
A combination of the two?

My only income is SSA and interest from VG and TRP. So, would a home sale have a tax impact? [bought it in the late 80’s]
More: checked cap gains and found those results

Anything else I’m missing?

2

You might consider doing what you’ve successfully done done so far with VG.

Or… since you’re headed into a new experience, you might consider putting some of it in an account you could quickly pull some cash from.

You’d also want to keep trusted family and/or legal representative aware of any changes you make.

3

It would be helpful to know more about your financial situation. What is your current asset allocation including the distribution in retirement and brokerage accounts, what is your current income, what are your expected expenses in an assisted living community? Tough to think about and to quantify but your “time horizon” may be a consideration in the decision making process.