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"Rich" retirees (not that I'd consider most of these folks rich anyway) are primarily funded through their own investments, wealth, and prudent financial planning. These people are only receiving government help through Social Security and maybe Medicare - not means tested programs like SNAP.
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SS benefits and Medicare are NOT a "government help". These are our money, not government money.
i doubt that and i never said such a thing . i said many low income people actually live on that low of an income . in many areas they can actually do better than some higher income earners because of things they may get that make a big difference in cash flow like medicaid for health insurance , tax credits , snap , etc . .
like i said it takes 250k in savings to generate enough to pay our healthcare insurance .
a retired couple on medicaid needs 250k less in savings than someone who qualifies for no subsidy . that is just a fact but it does not mean that person on medicaid is living a better life . . it just means they don't need as much saved to reach the same starting point after a major expense like healthcare is calculated . .
I was living on $200 a month and about $200 a month of food stamps. I lived in subsidized housing in which I paid 30% of that $200 for rent. At the same time I also got Medicaid. Was I doing better than a lot of higher income earners? Depends on what you want out of life, I guess.
I may have had my every need taken care of, but there was no money to do any more than what I do all day, and that's just sit in my room. All I can say is thank God I could afford a computer connection.
Now, of course, I'm getting my SSDI. My rent shot up more than 300%, my food stamps are cut down to less than $20, and I now have to pay for Medicare and Medicare gap coverage. Is it worth it?
For me, it definitely is. I mean, there are people here who are going to stay here the rest of their lives. I'm only staying here until I get the last back payment from disability and no longer, if I can help it. The freedom to buy my own food, pick my own doctor, have a choice how I'm going to live - I'll take that over the food stamps, the paid Medicaid, and the subsidized housing any day.
And what's funny is, I still think I'll be living better than some higher earners and it's because I've learned to live on lots less in life and not because I'm getting any "freebies". So...I don't know what to tell you. Except that if some of those higher earners learned to live on as little as I do, they'd probably be rolling in the dough.
I,too, have found that having to live on next to nothing due to a back injury & subsequent 2 years before being approved for ssdi was actually beneficial for spending.
I was fortunate that I had family to back me up but kept expenses to a minimum. I was able to repay my family, buy a car & have some savings now. I was also able to move to a warmer climate.
It was helpful for me to re-learn how to live beneath my means.
It was helpful for me to re-learn how to live beneath my means.
A critical skill for a happy life; and, one not often practiced by the general public or Federal, State and Local governments. It is astounding how many people think "trees can grow to the moon" (and so be bailed out of excessive spending) despite logic dictating otherwise...
Kind of interesting how some people spend so much time being angry about other people. Makes you wonder if they have any room left in their lives to be content with their own circumstances.
I see your point, but nonetheless I find it somewhat galling that I pay for my own housing, and in addition I am required against my will to pay for other people's housing. And in place of the word "housing" you can substitute or add a number of other words, such as "food".
And no, I do not spend a lot of time obsessing about the injustice of it all. I am indeed content with my own circumstances and I engage in more than negligible charitable giving. But any informed person is going to be aware of such things.
Edited to add a disclaimer: No, I do not find it "galling" that my tax dollars are going to support people who are legitimately disabled. It's all the others that I find galling.
A critical skill for a happy life; and, one not often practiced by the general public or Federal, State and Local governments. It is astounding how many people think "trees can grow to the moon" (and so be bailed out of excessive spending) despite logic dictating otherwise...
For me, when I was working, I felt I had to buy expensive clothing due to the nature of my job. I also ate out a lot & just threw my money away on 'things'.
Being forced to reduce my expenditures, I am a lot happier. No more expensive clothes or beauty shops. No more expensive creams & lotions so I could look younger. No more expensive meals at restaurants.
I love living like I do now. My only real extravagance is kindle unlimited for books, 9.95 a month rather than going to the library. I may even stop that as the library is very close.
Well, actually most people get more than they have paid into the system. So there is a measure of government help.
While this is true, it is because the SS recipents today that get more than they paid in are those that receive the lowest benefits, somewhere around 30% of the max benefit, which is numerically most people. Income testing means that those that paid in the most take the longest to get back , if ever, what they and their employers contibuted. I would be far far better off if I had been allowed to take those monies and put it in even passbook savings all these years. The higher earners pay in to the system and much of “their” money goes to the lower earning recipients. I last calculated that I would have to reach about 87 to get back everything that was paid in the SS when the money was indexed for just inflation. If the money earned above inflation then it was In to my 90s.
While this is true, it is because the SS recipents today that get more than they paid in are those that receive the lowest benefits, somewhere around 30% of the max benefit, which is numerically most people. Income testing means that those that paid in the most take the longest to get back , if ever, what they and their employers contibuted. I would be far far better off if I had been allowed to take those monies and put it in even passbook savings all these years. The higher earners pay in to the system and much of “their” money goes to the lower earning recipients. I last calculated Hothat I would have to reach about 87 to get back everything that was paid in the SS when the money was indexed for just inflation. If the money earned above inflation then it was In to my 90s.
What do you consider to be high wage earners? You are also assuming that all of the money paid into the system would have been invested by the taxpayer. It would not have. Max SS alone is $2687 a month. That's $32,244 a year in SS. Even with average returns, I still believe things work out in favor of the taxpayer. Then add in benefits received for Medicare. One good illness or a hip replacement could exhaust the dollar for dollar paid into the system.
For me, when I was working, I felt I had to buy expensive clothing due to the nature of my job. I also ate out a lot & just threw my money away on 'things'.
Being forced to reduce my expenditures, I am a lot happier. No more expensive clothes or beauty shops. No more expensive creams & lotions so I could look younger. No more expensive meals at restaurants.
I love living like I do now. My only real extravagance is kindle unlimited for books, 9.95 a month rather than going to the library. I may even stop that as the library is very close.
Not to get off topic, but check your library. Many of them now offer library books on line. You just need a library card and you browse, check out and download your book. When your time is up, the book disappears from your device
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