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Old 05-05-2015, 01:05 PM
 
708 posts, read 501,901 times
Reputation: 1165

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Quote:
Originally Posted by Rusty Avocado View Post
My in-laws are a retirement horror story. MIL gets a disability check and FIL gets Social Security. That is all they are living on. They blew her disability settlement down at the casinos the first year after they got it ($200,000). Idiots.

Now they have $0 assets and sometimes need to even borrow grocery money. I can't imagine being in their position when I am ready for retirement.

I know it is not right to feel this way but I have a hard time to feel sorry to blow $200K at the casino's
Only people that are Multi-Millionaires can afford that money. They could have lived a nice retirement but no screwed it all up.
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Old 05-05-2015, 01:10 PM
 
Location: Tennessee
23,572 posts, read 17,544,804 times
Reputation: 27640
Quote:
Originally Posted by Rusty Avocado View Post
My in-laws are a retirement horror story. MIL gets a disability check and FIL gets Social Security. That is all they are living on. They blew her disability settlement down at the casinos the first year after they got it ($200,000). Idiots.

Now they have $0 assets and sometimes need to even borrow grocery money. I can't imagine being in their position when I am ready for retirement.
That's a completely self-induced "disaster." Stupid can always get the best of people.
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Old 05-05-2015, 01:29 PM
 
Location: Idaho
1,452 posts, read 1,153,447 times
Reputation: 5482
I have seen several retirement horror stories with 2 co-workers passed away just before retirement and one shortly after. The saddest case was the one died of a heart attack few days before his official quitting date while mowing the lawn (in preparation for the move- he and his wife already bought a retirement home in Florida).

I also have 2 relatives who are still working in their 70's in spite of poor health. They simply could not afford to retire. To me, their situations are as sad as the previous cases!
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Old 05-05-2015, 01:52 PM
 
Location: NC
6,549 posts, read 7,966,327 times
Reputation: 13455
Maybe it's just me, but it seems useless to worry that you might die before you retire or before you take that special trip. Once you are gone, you certainly don't care.

On the other hand, the survivors are the ones who are missing out on the companionship they could have had for that special time. So really, this post is more about the survivors than the ones who died suddenly. Of course if you are stricken ill or become disabled, that is certainly a tragedy, and it could happen to any of us.
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Old 05-05-2015, 02:07 PM
 
Location: Albuquerque NM
1,657 posts, read 1,522,222 times
Reputation: 3632
A good friend and my sister both died within 3 years of retirement at age 59 and 60 respectively. Neither took good care of their health e.g., my sister smoked and drank heavily. Both had government pensions and no survivors so it saved the tax payer a few bucks.

Another friend decided to quit his job in his 50's and live off savings until social security and a small pension kicked in. To save money, he passed on health insurance. Then his wife had an emergency appendectomy, developed blood clots, and had an aneurysm from the prescribed blood thinner. They ended up filing for bankruptcy and he is now her caretaker as she is permanently impaired and on Medicaid. Hard to say for sure but health insurance might have resulted in better care after the appendectomy and would have helped pay for some level or rehab.

Finally there is my older brother who got laid off and could not find another job so filed for early social security and invested almost all of his money in oil for the high dividends. I suspect I may be helping to support him in the future.
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Old 05-05-2015, 02:18 PM
 
1,577 posts, read 2,200,276 times
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Quote:
Originally Posted by luv4horses View Post
Maybe it's just me, but it seems useless to worry that you might die before you retire or before you take that special trip. Once you are gone, you certainly don't care.

On the other hand, the survivors are the ones who are missing out on the companionship they could have had for that special time. So really, this post is more about the survivors than the ones who died suddenly. Of course if you are stricken ill or become disabled, that is certainly a tragedy, and it could happen to any of us.
My father was close to retirement after working over 30 years for the Federal government. He was in a car accident (while on vacation with my mom and 2 brothers) that left him a quadriplegic. He died a couple months after the accident. He left my mom in very good financial position, but my mom often said she felt so guilty taking vacations, enjoying retirement, etc ... my father had worked so hard and never got to enjoy it.
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Old 05-05-2015, 06:37 PM
 
Location: Florida
4,359 posts, read 3,694,371 times
Reputation: 4085
Quote:
Originally Posted by rigizug View Post
My father was close to retirement after working over 30 years for the Federal government. He was in a car accident (while on vacation with my mom and 2 brothers) that left him a quadriplegic. He died a couple months after the accident. He left my mom in very good financial position, but my mom often said she felt so guilty taking vacations, enjoying retirement, etc ... my father had worked so hard and never got to enjoy it.
Tell her he was providing for his family and he accomplished the goal.
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Old 05-05-2015, 06:59 PM
 
Location: California
4,554 posts, read 5,467,791 times
Reputation: 9608
Okay, so we have known the pain of too much tenderness gone too soon.

Be thankful we are fortunate enough to be here to share our experience.
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Old 05-05-2015, 07:30 PM
 
Location: Los Angeles>Little Rock>Houston>Little Rock
6,488 posts, read 6,948,243 times
Reputation: 17366
Both of my parents passed away before they got a chance to retire, but they had no retirement savings. If it weren't for the fact that my mother's parents were murdered a year before she passed there would have been no estate whatsoever.

As it was, there was a lot of fighting going on with relatives in Scotland. The whole mess relied on which of my grandparents died first. Now that was a horror story with coroner's reports and whatnot.
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Old 05-05-2015, 07:49 PM
 
Location: Near a river
16,042 posts, read 18,969,510 times
Reputation: 15649
Quote:
Originally Posted by Willistonite View Post
Well this thread is enough make a person depressed!
Well, to lighten the mood...my horror story is continuing to wake up in the wee hours of the morning searching for the alarm clock, which isn't ringing, to turn it off so I'll be on time for work. The saving grace is that I get to go back to bed till 8:00. It's a difficult problem.
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