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anyone living on 1k a month likely gets assistance on a lot of things . they may even be on medicaid . these are just some of the programs here in nyc .
Not true at all! I know several retired folks who collect less than a grand a month in social security and do not receive any assistance. Many of them would absolutely qualify, but they have too much pride to take a government handout. I think it's a generation thing. Having parents who lived through the Great Depression made them a hearty bunch. Most people in the country also don't live in NYC where EVERYTHING costs a fortune.
I have been a widow x 16 years, never had any children, have 3 cats, and a home that has been mortgage free since 1998. Granted I pay fairly high property taxes which are a little over $6,000/year, but even if I cut that in 1/2, with my BC/BS, dental, vision, and adding Medicare Part B in retirement those costs will total around $500/month. Add that to a $250 monthly property tax bill and those expenses come out to $750/month. The $250 that remains would just about cover my heat and electricity.
The only people that I am aware of that can barely manage to live on $1,000/month would be those that have very cheap HUD apartments, are on Medicaid that covers their health expenses, receive assistance for other basic living needs, and the little that remains they could not even afford to own a car.
If you want to try to manage living on $1,000/month in retirement forget about doing that with owning a home.
One of my grandmothers sold her house and moved into a 55 and over apartment...she lived in others before this one. It's actually cost her a small fortune in rent! Owning her house was significantly cheaper. Her taxes are about $2500 a year. Her rent currently is $1350 a month! Two months rent paid her taxes for a year. There are NO cheap rentals in the area she lives in.
She can walk around the block to the grocery store, library, and mall. That's the only perk I see for her. She's not uber thrilled about where she lives either. She doesn't like spending that much money, but she had no choice. At least, her laundry is in her apartment here. Her other apartment it was 3 floors down to the basement....all steps!
It might be "possible" for you. I have elderly parents nearby, so moving to such a place would not be an option. I must have a dependable car as well, to get me to work, and to my parents, at the very least. So while it might be possible for some, it would not be for me. That was the OP's question, correct?
Last edited by ChessieMom; 01-06-2018 at 10:27 AM..
It's rather kind of silly to beat this topic to death. $1000 per month for some people is lunch money, for other people it's doable, not ideal but doable.
Not true at all! I know several retired folks who collect less than a grand a month in social security and do not receive any assistance. Many of them would absolutely qualify, but they have too much pride to take a government handout. I think it's a generation thing. Having parents who lived through the Great Depression made them a hearty bunch.
how can you possibly say not true at all ? does that statement make sense to you because you know some people that live on 1k a month ? i did not say everyone is on programs i said many are and that is as true as true can be.
in fact those people you speak of would get medicare assistance if as a couple they had 1k a month or less income and met the asset requirements .
Qualified Medicare Beneficiary Program (QMB)
This state program pays for Medicare premiums and may pay for some or all of the deductibles and coinsurance. To qualify, your loved one must have limited savings (in 2007, up to $4,000 for individuals, $6,000 for couples) and income (up to $851 a month for individuals, $1,141 a month for couples).
Specified Low-Income Medicare Beneficiary Program (SLMB)
This program pays for Medicare Part B premiums for those with limited savings and an income between 100 and 120 percent of poverty.
Qualifying Individual Program (QI-1)
For those whose income is 120 to 135 percent of poverty and whose assets are limited, this program pays for Medicare Part B premiums.
. .
Last edited by mathjak107; 01-06-2018 at 10:06 AM..
Just had again this discussion with my wife,I am 84,when I pass she will be on my Social Security only,all benefits gone,we are comfortable now.
As of now expenses per year are $5700,so she will not be able to stay in home.Home is paid for.We have gone from around 2000 sq ft home to a 900 sq ft home with a move to horrible CT.,family and are now trapped.
I have said this many times,house is filled up with a lot of what I call junk,some antiqes.
I have known what to do but until now,wife has resisted.She is finally giving in.
how can you possibly say not true at all ? does that statement make sense to you because you know some people that live on 1k a month ? i did not say everyone is on programs i said many are and that is as true as true can be -for those doing it .we know many seniors here in ny that are taking part in some of these programs ..
in fact those people you speak of would get medicare assistance if as a couple they had 1k a month or less income and met the asset requirements .
Qualified Medicare Beneficiary Program (QMB)
This state program pays for Medicare premiums and may pay for some or all of the deductibles and coinsurance. To qualify, your loved one must have limited savings (in 2007, up to $4,000 for individuals, $6,000 for couples) and income (up to $851 a month for individuals, $1,141 a month for couples).
Specified Low-Income Medicare Beneficiary Program (SLMB)
This program pays for Medicare Part B premiums for those with limited savings and an income between 100 and 120 percent of poverty.
Qualifying Individual Program (QI-1)
For those whose income is 120 to 135 percent of poverty and whose assets are limited, this program pays for Medicare Part B premiums.
. .
Again, NYC is VERY different than the rest of the nation. It's even VERY different than the rest of the state! I know. I live in NY. The income requirements for programs in NYC is different than the rest of the state.
I do know folks who collect less than a grand a month who pay for their Medicare. They do not take government handouts. Like I said, it's a pride thing past generations have. I know much more about my grandmother's finances than you do! I've paid her bills when she was sickly. I've mailed them for her and organized them all as well.
Again, NYC is VERY different than the rest of the nation. It's even VERY different than the rest of the state! I know. I live in NY. The income requirements for programs in NYC is different than the rest of the state.
I do know folks who collect less than a grand a month who pay for their Medicare. They do not take government handouts. Like I said, it's a pride thing past generations have. I know much more about my grandmother's finances than you do! I've paid her bills when she was sickly. I've mailed them for her and organized them all as well.
If someone chooses to not take benefits based on income, that's their decision. It doesn't mean they don't qualify for those benefits. If they can make it without the help, great. If they can't, then IMO it's a foolish decision to refuse help that is available.
Again, NYC is VERY different than the rest of the nation. It's even VERY different than the rest of the state! I know. I live in NY. The income requirements for programs in NYC is different than the rest of the state.
I do know folks who collect less than a grand a month who pay for their Medicare. They do not take government handouts. Like I said, it's a pride thing past generations have. I know much more about my grandmother's finances than you do! I've paid her bills when she was sickly. I've mailed them for her and organized them all as well.
now you are the one wrong . the medicare assistance is federal and runs programs in all states . if they qualify they qualify . some may even qualify for dual eligibility medicare/medicaid .
if someone does not take advantage of what they are entitled to who's fault is that . but to tell me i was wrong is nonsense .
take a step back and look at what you are trying to present as a logical argument .
Last edited by mathjak107; 01-06-2018 at 10:23 AM..
anyone living on 1k a month likely gets assistance on a lot of things . they may even be on medicaid . these are just some of the programs here in nyc .
I do not think that anyone had suggested NYC was a low COL city. I think it would be obvious that low income people in a high COL city will all need assistance.
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