The Wall Street Journal had an interesting article a few weeks ago that was all about the financial inequality in retirement communities.
In the article, it talks about a retirement community in California where there are many people on fixed incomes who are enjoying their golden years, but as younger wealthier retirees move into the community they have been fighting to spend hundreds of thousands of dollars on improvements that those on fixed incomes can not afford.
The battle revolves around pickleball, a game that is growing in popularity and is similar to tennis. The wealthier retirees in the community wanted to spend at least $300,000 on a new state of the art pickleball. In addition to that, they are interested in renovating a theater and other activity areas to update them to modern styles.
So this felt like an interesting story that shows you at any age, financial independence and inequality are still a major problem. We have talked about this in previous podcasts, but it brings up the question again, what do you do if you start to outlive your money?
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