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Old 02-09-2012, 06:32 AM
 
Location: SW MO
23,605 posts, read 31,506,246 times
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And from the left coast:

Women most vulnerable to poverty in retirement | HealthyCal
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Old 02-09-2012, 11:47 AM
 
Location: Alaska
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In our retirement plan, I've planned for the most available for my wife, should I die first. I figure she'll have between 2/3 to 3/4 of the retirement income available. As to whether she can live on it is up to her. One problem she has, is that she wants to keep a big house (wants to keep separate rooms for each kid), after we retire. I don't think she'll be able to maintain such a house, especially after I'm gone. I have told her that if we move after retirement, she's limited to spending as much as we get for our current house and property taxes need to be taken into account. Beyond that, there's not much more I can do for her after I die.

One thing I do know is that if we ever separate, I'll be able to survive on half of the retirement income, while she'll have to go back to work in order to survive. I'm willing to live more cheaply, while I think she'll have to go back to work and/or go broke trying to maintain her current level. She doesn't live an extravagant lifestyle, she'll just support the kids beyond what I agreed to do (i.e., help pay for graduate school).
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Old 02-09-2012, 12:40 PM
 
Location: Wisconsin
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Not sure what your ages are, but the world looks different when you approach 70. It is not physically feasible for most women to keep up a big house, not to mention the maintenance expense. Give it time. One feels invincible at 60, not so much at 70. And good luck with finding work at that age. Perhaps in Alaska things are different. But here in much of the lower 48, once not working, always not working.
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Old 02-09-2012, 01:56 PM
 
Location: Alaska
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We're on the higher side of our 50's, approaching retirement. I agree with you that she won't being physically able to keep up a big house. Now, all we have to do is to convince her. My idea of a house, is 2-3 bedrooms and 2 baths. Throw in a family room where the not now existing grandkids can sleep. Chances are that we'd never have all visiting at the same time. Also, there's always a good chance that their future spouse/SO would prefer to stay in a nearby hotel (we'll have to include that in our search criteria, nearby being 20 miles vs. 50 miles), leaving the theoretical grandkids for us to enjoy.
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Old 02-09-2012, 02:45 PM
 
Location: Whereever we have our RV parked
8,812 posts, read 7,719,752 times
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Sorry, but most of the elderly ladies I know, and I know about a dozen, most of whom are widows are doing just fine. Why? The have housing they can afford. They stayed married, until their husbands died, they saved their money in good years, and they were left with no debt. Even some of the poorer ones live on Social Security, but they manage to get by with their old house, and a used car. I said sorry, because IMHO, most people are victims of their own lack of foresight and planning, failure to save for retirement, living from pay check to pay check, giving large sums of money to adult children who are old enough to handle their own problems, financial and otherwise, without asking mommy for help. If elderly women can't get by on their own assests, they probably need to move in with one of the kids. Their children should be responsible and take care of their parents, especially considering all the care the parents gave the kids when they were little.

I read parts of the OP's article, and it reads like a typical sob story, pleading for more govt. money for the poor, as though California doesn't spend enough on that already.
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Old 02-09-2012, 03:34 PM
 
Location: SW MO
23,605 posts, read 31,506,246 times
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Quote:
Originally Posted by Prairieparson View Post
I read parts of the OP's article, and it reads like a typical sob story, pleading for more govt. money for the poor, as though California doesn't spend enough on that already.
But none of that obviates the fact that likely more women than men have a hard time fending for themselves in retirement, right, wrong or indifferent. It also doesn't take into consideration the recent, almost virulent downturn in the economy.

I've made the same provisions for my wife, should I reach my expiration date first, that akck has for his. All too many have not had that option since defined benefit plans have evaporated over the past several years.

Or perhaps I'm just somewhat more compassionate. Rather than judge and lay blame, I prefer to look for solutions or at least commiserate.
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Old 02-09-2012, 03:35 PM
 
Location: Northern panhandle WV
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With regards to the house situation, I just bought a BIG house to hold all the stuff I have accumulated over the years. I do NOT understand the downsize get rid of all the things you spent your life getting, Not junk but things that mean something to you or Good furniture etc.
I went from a 900 sq ft house to as 2560 sq ft house, 5 bedrooms 2.5 bath house.

One reason was to have my things another was to have room for family to visit but also to live with and care for me and or husband if need be. It is in a very inexpensive part of the country to live, the house was very inexpensive taxes very low.
That was another reason I bought this house, cheap to live in retirement on very little income.
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Old 02-09-2012, 03:40 PM
 
Location: SW MO
23,605 posts, read 31,506,246 times
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Quote:
Originally Posted by arwenmark View Post
One reason was to have my things another was to have room for family to visit but also to live with and care for me and or husband if need be.
NEVER! Not even in my wildest imaginings.
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Old 02-09-2012, 05:02 PM
 
701 posts, read 1,532,515 times
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Typically, women live longer and earn less over their lifespan. Not only are women's wages still only about three fourths of men's, women are more likely to be out of the working world for larger chunks of time to care for children or elderly parents or even ill spouses.

With Wall Street scams gobbling up retirement savings and pensions disappearing like snow cones in August, many future retirees are going to have a tough go of it. Women just have less to fall back on.
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Old 02-09-2012, 06:35 PM
 
26,591 posts, read 52,344,141 times
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Most of the elderly widows I know are quite astute when it comes to budgeting...

I think part of it is they seemed to be more in tune of the chance of outliving their spouse and plan accordingly.

All made sure their homes were paid off... most do not have a car expense and have supplemental medical to minimize surprises...
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