Golden Handcuffs

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icfrugal2
Posts: 536
Joined: Thu May 19, 2022 11:27 am

Golden Handcuffs

Post by icfrugal2 »

Golden handcuffs does refer to

gold·en hand·cuffs
[ˈɡōldən ˈhan(d)ˌkəfs]
NOUN
informal
used to refer to benefits, typically deferred payments, provided by an employer to discourage an employee from taking employment elsewhere:
"his five-year golden handcuffs are released next year"

But it is also used by renters who have a place that is under rent control and sometimes they have been there so long that their rent is so far under market rent that they feel that they "can't" afford to move even if they have a good income.

It is a sort of "trap" because it impedes their movement to another place in The City or anywhere really.

So, their family is growing and it sure would be nice to have an extra bedroom, yard, the better part of town, etc, but they are trapped.

DH and I have medical Golden handcuffs, so to speak.

We, of course, pay our medicare and Senior Advantage with Kaiser, we also have Medical Finacial assistance with Kaiser, because our income is considered low for our area, we don't pay any deductible, etc.

Only income is looked at, not assets.

I'm not sure how much we save, I should look into it, but with DH's health, it's nice to not have to worry about it.

He has had 2 heart attacks so far this year and has been in the hospital twice, and he sees his podiatrist weekly right now.

We are both on meds.

I've had two sets of x=rays on my knee this past month.

So, I have to keep our income "low" which is another factor in not raising the rent a lot.

It's a real balancing act for me.

are there any "Golden Handcuffs" in your life?

IC
Prairie Waif2
Posts: 1893
Joined: Thu Jul 16, 2020 11:33 am
Location: Brandon, Manitoba CANADA

Re: Golden Handcuffs

Post by Prairie Waif2 »

My "Golden Handcuffs" would be my apartment and I am glad to have them, in this case!

Rent for a two bedroom apartment in a security buidling is now usually above $990 to the $1,500 range in Brandon. I have a lovely apartment with two bedrooms and really great neighbors for only $741/month. I know it is going to go up in April of next year. I hope the increase isn't too great. I am paying about 66% of my monthly income on it but this is what you have to do if you want housing in this town.

When I rented here, I always had roommates. The current caretaker, &#@!, is a real bear and won't let anyone have roommates now so, I guess being "stuck" in a two bedroom might be handcuffs but I do like the space it gives me in the kitchen, living room and bathroom that a one bedroom does not have so, all in all, it is good.

MJ
Hope has a good imagination.
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