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Why didn't you? Others did/have. And if your story is true this was in the late 70s, not the best of times but not nearly as bad as it has been for some the last few years.
Yeah, in 40 years, somebody with a college education could not get his act together enough to find a decent job.
I would not trade places with Dave. Doesn't sound like living, it sounds like waiting to die. What if Dave lives 25 more years?
Exactly this. Living in a tiny subsidized apartment or shopping at thrift shops or taking the bus because I can't afford better is not much of a "retirement" IMO. I'd rather work until I drop dead than consign myself to being so constrained by poverty that I have to use food stamps and Medicaid at the very start of my retirement. If I live for another 25 or 30 years, it may very well be that inflation will force me into taking welfare, but I sure don't want to start out that poor.
BZZT! I'm not allowed to apply a tax refund to anything because the Dept of Education applies it to student loans.
Ok, then you might use the jewelry exception. Some states (IIRC) allow you to exempt anything you "wear on your person every day". You simply find jewelry that will not lose value that you wear every day, and "save" money by buying the jewelry and wearing it every day. Eventually you can use it to settle the debt, just arrange for a buyer to pay them directly so them money is never in your name.
You should read how SS has & ALWAYS was funded. It was insurance for the retired generation paid for by the current working generation. The current boomers have paid in more to SS than any generation to date because of higher limits, higher earnings, and higher number of contributors. In the long run, once all the boomers retired, there will theoretically be such a huge labor shortage, everyones wages should climb dramatically just because of the demands of all that retirement money being spent. Generations before the boomers typically got out of SS as much as 6 times what they paid in. Boomers will barely break even. The problem is either underfunding based on current payments or too much waste because of payments to the undeserving because of loopholes.
For instance, I was married as a young man for 10 years to a lazy, winey, spendthrift that almost bankrupt me. No kids, she literally contributed negatively to my life financially, emotionally, career wise, and spiritually. I started trying to divorce her after 8 years of hollow promises manipulation but her lawyer and her were able to constantly delay until we were legally married for 10 years and 1 week. My current wonderful DW,Nis a hard working, wonderful woman that helped me rebuild my life and helped me become the success I am. Guess what? Ex- bi+<!face is entitled to the exact same survivor benefits on MY FRA that she had NOTHING to do with, as my DW!! In fact, because EX is a lazy leach she lived with her mother the rest of her life, never remarried, and at 62 can collect a benefit when I start to retire, based on my earnings, because she had none to speak of, that is about equal to what DW will get because she worked all her life!!! So for doing nothing except marrying the right guy early in life she collects the same as DW who's been with me for 20 years. Thats not right, but its the law. If it was right, EX would only collect on a percentage of the earnings attributed to my FRA when we were married.
Good luck with that. I was married for 30 years. Under your scenario, my ex's current spouse would get peanuts if he were to die tomorrow. However, I would not object to her receiving the $255 death benefit to help pay for his funeral. Sounds fair to me!
Exactly this. Living in a tiny subsidized apartment or shopping at thrift shops or taking the bus because I can't afford better is not much of a "retirement" IMO. I'd rather work until I drop dead than consign myself to being so constrained by poverty that I have to use food stamps and Medicaid at the very start of my retirement. If I live for another 25 or 30 years, it may very well be that inflation will force me into taking welfare, but I sure don't want to start out that poor.
If I were to end up like Dave, I would just make the best of it. However, I am not going to plan to end up like Dave.
I am glad Dave has a safety net to fall back on. Whether he was irresponsible or merely unlucky, I do not think he should spend his golden years without basic necessities (food, shelter, basic medical care).
I have never understood the resentment towards the poor. There is no reason to envy Dave. And if someone feels they really, really must envy him anyway, go right ahead and go broke then live off the system yourself. If it's such an awesome deal, get yours.
You should read how SS has & ALWAYS was funded. It was insurance for the retired generation paid for by the current working generation. The current boomers have paid in more to SS than any generation to date because of higher limits, higher earnings, and higher number of contributors. In the long run, once all the boomers retired, there will theoretically be such a huge labor shortage, everyones wages should climb dramatically just because of the demands of all that retirement money being spent. Generations before the boomers typically got out of SS as much as 6 times what they paid in. Boomers will barely break even. The problem is either underfunding based on current payments or too much waste because of payments to the undeserving because of loopholes.
For instance, I was married as a young man for 10 years to a lazy, winey, spendthrift that almost bankrupt me. No kids, she literally contributed negatively to my life financially, emotionally, career wise, and spiritually. I started trying to divorce her after 8 years of hollow promises manipulation but her lawyer and her were able to constantly delay until we were legally married for 10 years and 1 week. My current wonderful DW,Nis a hard working, wonderful woman that helped me rebuild my life and helped me become the success I am. Guess what? Ex- bi+<!face is entitled to the exact same survivor benefits on MY FRA that she had NOTHING to do with, as my DW!! In fact, because EX is a lazy leach she lived with her mother the rest of her life, never remarried, and at 62 can collect a benefit when I start to retire, based on my earnings, because she had none to speak of, that is about equal to what DW will get because she worked all her life!!! So for doing nothing except marrying the right guy early in life she collects the same as DW who's been with me for 20 years. Thats not right, but its the law. If it was right, EX would only collect on a percentage of the earnings attributed to my FRA when we were married.
Is DW a low earner? If not, her own benefit will be more than half of yours. However, she may want to file and suspend at FRA, draw half of your benefit until age 70, then switch to her own.
If you receive the maximum FRA benefit of $2,663 per month, your ex-wife can draw at most $1,332 per month. If she takes it earlier than her FRA, her benefits are reduced. Assuming her FRA is 65, if she begins drawing at age 62 her benefit will be at most $999 per month.
nothing is your fault , you see everything as someone else destroying your life.
the answer is it is all your fault for letting yourself get in the situation you are.
you didn't find away , you were the one who found the excuse.
Didn't have any money, paid 73% of my net income (after taxes and student loan) to rent a room in a house that got foreclosed, this was literally the only place I was able to afford moving into. Guess the foreclosure was my fault too.
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