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Just thinking of the old man who killed himself as the city marshall came in. There may very well be more of this.
There are a number of old people with working class jobs who retire with just social security. Some of them never paid much money to social security because they had cash tip jobs like bartender, waiter, delivery person, etc.
These people in old age (say 60s or 70s) cannot just go to school and train for a new career. Landlords will kick out rent stabilized tenants (because they want them out ASAP so they can make as much money as possible).
But the landlords are not entirely to blame. The public hates welfare and hates taxes. But the only way to help old people in this situation is for the government to subsidize their rent. I don't think the landlords should have the responsibility of having to bite all the costs in keeping these apartments below the market rate. If the government were chipping in money the landlords would complain a lot less.
As for moving out of the city to some alleged cheap haven? Nowhere in the nation can one live off social security alone. Clearly many of these people never had enough money to have substantial savings.
Any old person with just social security either managed to pay for their property when they were young, is living with family who will allow them to stay, or is in a subsidized unit. Not every older person has family that will allow them to stay. Having a roommate is an option if the social security check is enough to cover that and live off of, but the lowest social security checks are $800 or so. That isn't enough money to live off of even if you wanted to just rent a room.
the poor elderly in most cases just seem to make it through . either moving in with family , cost sharing or assistance . living on just social security is something folks have been doing forever .
people somehow make do and adapt .
right off the bat they can get medicaid which is worth 5 or 6k in after tax dollars . then there are food stamps worth another thousand or so .
there are lots of different senior housing programs too .
folks do it , however they do it .
So let me get this straight. Not only have the baby boomers ruined the current economy but now you want the millennials and more recent generations to help them out? Oh, so it's my fault that the most spoiled generation in the history of the world failed to prepare adequately for retirement? Haha. If it were up to me I'd go full Hitler of those old c*nts. Everybody 60+ in the oven. Save some money on funeral costs for the younger generations, that's what I'd do.
pay up and stop squawking . every generation had the generation before it screw things up .
heck i got dumped in to vietnam , the highest unemployment since the great depression , very high inflation with 18% mortgages , an oil shortage and civil unrest over our foreign policy's and tax rates that were killer .
think that was what i bargained for ?
my dads generation had world war ii and were great depression kids which they didn't bargain for and his dad the great depression as their legacy .
Last edited by mathjak107; 10-08-2015 at 04:34 AM..
the poor elderly in most cases just seem to make it through . either moving in with family , cost sharing or assistance . living on just social security is something folks have been doing forever .
unlikely . most of america has no savings by retirement , in fact 62% of americans have no savings anytime in their lives .
62% of Americans have no emergency savings for things such as a $1,000 emergency room visit or a $500 car repair. Faced with an emergency, they say they would raise the money by reducing spending elsewhere (26%), borrowing from family and/or friends (16%) or using credit cards (12%).
we are actually doing better than the past since more folks are working until 70 then ever before .
Last edited by mathjak107; 10-08-2015 at 04:57 AM..
unlikely . most of america has no savings by retirement , in fact 62% of americans have no savings anytime in their lives .
62% of Americans have no emergency savings for things such as a $1,000 emergency room visit or a $500 car repair. Faced with an emergency, they say they would raise the money by reducing spending elsewhere (26%), borrowing from family and/or friends (16%) or using credit cards (12%).
we are actually doing better than the past since more folks are working until 70 then ever before .
That is harrowing, ESPECIALLY the last sentence. Working until you fall over from old age is most definitely NOT doing "better than before."
I think the more common scenario is that people lose the last job they will ever have before they reach 60. I am seeing this all around me.
Just thinking of the old man who killed himself as the city marshall came in. There may very well be more of this.
There are a number of old people with working class jobs who retire with just social security. Some of them never paid much money to social security because they had cash tip jobs like bartender, waiter, delivery person, etc.
These people in old age (say 60s or 70s) cannot just go to school and train for a new career. Landlords will kick out rent stabilized tenants (because they want them out ASAP so they can make as much money as possible).
But the landlords are not entirely to blame. The public hates welfare and hates taxes. But the only way to help old people in this situation is for the government to subsidize their rent. I don't think the landlords should have the responsibility of having to bite all the costs in keeping these apartments below the market rate. If the government were chipping in money the landlords would complain a lot less.
As for moving out of the city to some alleged cheap haven? Nowhere in the nation can one live off social security alone. Clearly many of these people never had enough money to have substantial savings.
Any old person with just social security either managed to pay for their property when they were young, is living with family who will allow them to stay, or is in a subsidized unit. Not every older person has family that will allow them to stay. Having a roommate is an option if the social security check is enough to cover that and live off of, but the lowest social security checks are $800 or so. That isn't enough money to live off of even if you wanted to just rent a room.
This is nothing new at all in NYC. My neighborhood has a very sizable population of elderly poor people…thousands of them,many of them in their 80's and 90's.They barely squeak along,living in rent controlled or stabilized apartments…on SCRIE, section 8,EBT cards,cash assistance,hand outs from food pantries and jewish social service organizations,etc.There is also a 20 story seniors only NYCHA housing project ( Boston Road Plaza) in the neighborhood. http://www.panoramio.com/photo/9997481
It's all people who have been living in this neighborhood for 50,60 years or in some cases their entire lives. Most of them were definitely solidly middle class when they were in their earning years.I think this happens with every generation.
That is harrowing, ESPECIALLY the last sentence. Working until you fall over from old age is most definitely NOT doing "better than before."
I think the more common scenario is that people lose the last job they will ever have before they reach 60. I am seeing this all around me.
not that working until you drop is good but the fact is we have more people than ever that are living longer and are healthier to work . the sheer numbers now reflect the fact more seniors are working longer because they have been able to and have had jobs .
Most Americans still stop working by the time they hit 65. But about 19 percent of Americans age 65 and over were working in 2012, according to the Bureau of Labor Statistics. That's a nearly 8 percentage point increase from a low in 1985, when just 10.8 percent of Americans over age 65 were still at work.
the number of older people choosing to remain on the job has been ticking upward since the late 1990s and they now represent the fastest-growing segment in the country’s workforce. By 2020, an estimated one fourth of American workers will be 55 or older, up from 19 percent in 2010.
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