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Wow, what a Shangri-La! And just who, exactly, would you expect to pay for all this largesse? Young families struggling to feed and educate their children and put a roof over their heads???????
Oh yeah, that'll work...
-- No, I expect us to quit policing the rest of the world (The US spends 20+% of its annual budget on military/defense -- far more than any other country in the world -- and only 2% on education, btw), I expect US-based corporations to pay their fair share of taxes, and I expect that off-shore US corporations to pay their taxes. Yeah, THAT WOULD WORK! Unfortunately, it's never going to happen because our government protects really wealthy citizens.
-- No, I expect us to quit policing the rest of the world (The US spends 20+% of its annual budget on military/defense -- far more than any other country in the world -- and only 2% on education, btw), I expect US-based corporations to pay their fair share of taxes, and I expect that off-shore US corporations to pay their taxes. Yeah, THAT WOULD WORK! Unfortunately, it's never going to happen because our government protects really wealthy citizens.
Well, I have to tell you *I'm* anything but wealthy, and I don't feel protected by this government.....
In fact, I feel as though I'm a perpetual donor for all its giveaway programs.....I've always had to earn what I had, whatever it was, but apparently I must share it with others who don't earn it but feel entitled to it just the same....
And IMO your assumption that draining corporations, and wealthy individuals of a liberal determination of their "fair share" to redistribute to an endless stream of humanity who cannot or more importantly, will not work to earn for themselves is highly unrealistic- as they speculate, what's to be done when they run out of other people's money?.....despite the assumption that taxpayer dollars come from bottomless pits and one can just print more paper "money" on demand, those resources ARE finite.
But just so you know, I do believe in taking care of your own, if they're truly in need. Even if that means doing without something if need be.
My husband is 64, I'm 65. We got married later in life and neither one of us knew much throughout our lives about saving or investment. So here we are. If we're lucky we might end up with $250,000 in investments, $300,000 when we sell our home plus $3000 approx. from SS per month. We live in CA but are planning on moving to a small town in TN. I wonder if we can manage? I mean we have to manage but it is scary.
The &250K is for emergencies so be very conservative with your investments. I hope that your house is worth $300 K and not $50K. Once you get to Tenn. you might be inclined to work part time. manage with one car.
It's amazing that you can save even $100/month on the amount you bring in monthly,
CalFresh, helps.
Quote:
Originally Posted by NoMoreSnowForMe
I live just fine on $877/month. I have an old beater car that's paid for, enough money for the rent, free medical care, subsidized rent at $350/month. My a/c electric bill right now is $80/month to keep it at 80 degrees (ouch says my budget), and I pay for insurance and internet. I don't go out, I don't smoke, and I can save about $100+/month.
I have a free national parks pass and I've been going to Whiskeytown lake to enjoy their free kayak tours this summer, the river is right in town where I can take my dog off leash. There's lots of free stuff to do.
You don't mention food in the above. I'm guessing you may also be receiving about $150 in CalFresh and may even visit food pantries, which stretches your budget. After above expenses, you have left $347, before paying for gas and another $50-$75/food/miscellaneous. No wonder you can afford to feed a dog and save $100/mo. Lots of people can't afford pets. You're doing just fine.
Free medical is a biggee. Most retirees are paying $300/mo. just for Medicare Parts B & Part D, a Medigap, plus copays for drugs. If you're on Medicaid, you're home free. I have a 73 y/o friend on Medicaid. She never worries about medical expenses. Medicaid pays her Medicare Part B premium. Drug copays are like $3-$6.
Well, I have to tell you *I'm* anything but wealthy, and I don't feel protected by this government.....
In fact, I feel as though I'm a perpetual donor for all its giveaway programs.....I've always had to earn what I had, whatever it was, but apparently I must share it with others who don't earn it but feel entitled to it just the same....
And IMO your assumption that draining corporations, and wealthy individuals of a liberal determination of their "fair share" to redistribute to an endless stream of humanity who cannot or more importantly, will not work to earn for themselves is highly unrealistic- as they speculate, what's to be done when they run out of other people's money?.....despite the assumption that taxpayer dollars come from bottomless pits and one can just print more paper "money" on demand, those resources ARE finite.
But just so you know, I do believe in taking care of your own, if they're truly in need. Even if that means doing without something if need be.
We'll leave military spending aside. But why is corporations being forced to pay, say, just 10% of their income "draining" corporations and wealthy individuals? Gimme a break. I pay almost 20% every year. I don't think/feel the government is "draining" me. And I'm definitely not rich.
And while I've known some people who refuse to work -- in fact, come to think of it, in the last 8 years, I've known ONE family -- mother and father with two children -- who refused to work because living off welfare was so much better to their way of thinking. Most of the people I've known either didn't plan for retirement or, as you said, there are a lot of young families (and older families) that are struggling to feed and educate their children and put a roof over their heads -- and making the 1% a lot richer.
I'm curious as to why neither one of you thought about retirement. Why not, did it surprise you that you suddenly were that age ? What else were you thinking about ? I find it unbelievable that you wait until your in your 60's and say "Hey, were almost ready to retire, what should we do "? I thought about it and started planning for it as soon as we got married in our 20's. It sounds to me like you should be OK with what you have but you'll have to be careful not to waste $'s. I hope it all works out for you, but for the life of me, I can't see how you didn't look ahead.
The OP will have close to $500K and SS to live on. In my view, that is a good number. Even if you planned carefully, you might not have this number.
A lot us planned but life happened in the interim. Having to help out parents, children, loss of employment, the economic downturn, unexpected illness - sometimes, the best laid plans can be crumpled.
And yes, the years go by quickly.
I know people who exist on $25K per year and I live in an expensive area (with some less expensive options thrown in).
The OP will have close to $500K and SS to live on. In my view, that is a good number. Even if you planned carefully, you might not have this number.
A lot us planned but life happened in the interim. Having to help out parents, children, loss of employment, the economic downturn, unexpected illness - sometimes, the best laid plans can be crumpled.
And yes, the years go by quickly.
I know people who exist on $25K per year and I live in an expensive area (with some less expensive options thrown in).
You don't mention food in the above. I'm guessing you may also be receiving about $150 in CalFresh and may even visit food pantries, which stretches your budget. After above expenses, you have left $347, before paying for gas and another $50-$75/food/miscellaneous. No wonder you can afford to feed a dog and save $100/mo. Lots of people can't afford pets. You're doing just fine.
Free medical is a biggee. Most retirees are paying $300/mo. just for Medicare Parts B & Part D, a Medigap, plus copays for drugs. If you're on Medicaid, you're home free. I have a 73 y/o friend on Medicaid. She never worries about medical expenses. Medicaid pays her Medicare Part B premium. Drug copays are like $3-$6.
In CA, if you are on SSI, you can't get CalFresh or SNAP, or whatever they're calling food stamps nowadays.
Yes, I do go to the food banks, but not all of the time. I use them to augment what I can buy cheap on sale that's healthier than what I tend to get at the food banks.
My basic budget:
Rent: $350
Electricity: $35 - $80 (winter to summer)
Gasoline - one tank: $35
Car liability insurance: $58
Renters & earthquake insurance: $15
Pet insurance (90% with $100 annual deductible) $49
ATT internet: $28
Netflix: $8
------------------------------
Subtotal: $623
Leaving $254 from my SSI income of $877, so far, with my summer a/c bill.
Groceries including dog food (25 pound dog) wine, paper products, etc., around $100 - $150/month, depending on what I have stocked up on or canned in previous months.
Like I said, I hit up a couple food banks, but I do most of my food shopping at Grocery Outlet. I buy stuff on sale, I can food, especially when I make a large pot of soup, I make my own broth and can it. My biggest splurge right now are the tilapia filets frozen in pesto sauce - about 10 filets for $14 I buy at Costco.
There will be the occasional thing that comes along, like AAA membership is due next month $119 now. My car registration happens in the spring to the tune of around $100, dog flea and worm medicine I buy cheap online, probably works out to around $10/month if that (I buy in bulk and measure it out myself).
But, my healthcare is free through Medi-Cal. And I never go out to eat or drink. If I need more unstained t-shirts, I go to Goodwill.
And on tight months, I can make do with the food banks and what I have, if necessary. If I was really desperate, I could even go to the mission for a hot meal.
Oh, and I have free limited cell phone service through the California lifeline program. I pay for a Skype phone number which I use as a landline as my cell phone minutes are limited. I pay for a year at a time for the discount, but it works out to less than $10/month for unlimited calls to US and Canada (my best friend is in Canada and I can not only video call her with Skype, but I can also call her landline with my Skype number/subscription).
Obviously, there's no money for a weekly massage, but I do okay, and I'm not renting a room in someone's house. Kill me first.
Last edited by NoMoreSnowForMe; 08-10-2014 at 06:18 PM..
In CA, if you are on SSI, you can't get CalFresh or SNAP, or whatever they're calling food stamps nowadays.
Yes, I do go to the food banks, but not all of the time. I use them to augment what I can buy cheap on sale that's healthier than what I tend to get at the food banks.
My basic budget:
Rent: $350
Electricity: $35 - $80 (winter to summer)
Gasoline - one tank: $35
Car liability insurance: $58
Renters & earthquake insurance: $15
Pet insurance (90% with $100 annual deductible) $49
ATT internet: $28
Netflix: $8
------------------------------
Subtotal: $623
Leaving $254 from my SSI income of $877, so far, with my summer a/c bill.
Groceries including dog food (25 pound dog) wine, paper products, etc., around $100 - $150/month, depending on what I have stocked up on or canned in previous months.
Like I said, I hit up a couple food banks, but I do most of my food shopping at Grocery Outlet. I buy stuff on sale, I can food, especially when I make a large pot of soup, I make my own broth and can it. My biggest splurge right now are the tilapia filets frozen in pesto sauce - about 10 filets for $14 I buy at Costco.
There will be the occasional thing that comes along, like AAA membership is due next month $119 now. My car registration happens in the spring to the tune of around $100, dog flea and worm medicine I buy cheap online, probably works out to around $10/month if that (I buy in bulk and measure it out myself).
But, my healthcare is free through Medi-Cal. And I never go out to eat or drink. If I need more unstained t-shirts, I go to Goodwill.
And on tight months, I can make do with the food banks and what I have, if necessary. If I was really desperate, I could even go to the mission for a hot meal.
Oh, and I have free limited cell phone service through the California lifeline program. I pay for a Skype phone number which I use as a landline as my cell phone minutes are limited. I pay for a year at a time for the discount, but it works out to less than $10/month for unlimited calls to US and Canada (my best friend is in Canada and I can not only video call her with Skype, but I can also call her landline with my Skype number/subscription).
Obviously, there's no money for a weekly massage, but I do okay, and I'm not renting a room in someone's house. Kill me first.
In CA, if you are on SSI you are not eligible for food stamps - what's the logic???
I'm renting a room from a volatile drunk in someone's drama-filled house and I pay $500/mo for the privilege.
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-- No, I expect us to quit policing the rest of the world (The US spends 20+% of its annual budget on military/defense -- far more than any other country in the world -- and only 2% on education, btw), I expect US-based corporations to pay their fair share of taxes, and I expect that off-shore US corporations to pay their taxes. Yeah, THAT WOULD WORK! Unfortunately, it's never going to happen because our government protects really wealthy citizens. 
Life happens
