Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I laughed when I saw the title of this thread. I'm 73 too, retired and disabled, and I have zero saved in any bank. I live without a car in Fargo, North Dakota, entirely on Social Security, SNAP (food stamps) and Medicare with Medicare Part D and its Extra Help benefit and the greatly reduced rent available to me with a HUD section 8 housing choice voucher.
You should have signed up for your Social Security benefits and Medicare at age 65, or by now. I would suggest you do that immediately. That $30 thousand in the bank may keep you from getting SNAP (food stamps), but with prices rising the way they are, don't overlook the value of SNAP or any other benefit for which you have eligibility. Your area agency on aging should have social workers available who can explain your rights and benefits as well as services available to you in your community. There is a lot out there for anyone who cares to look for it.
Don't by a new car. By a good, serviceable used car for $2 thousand or less. Several income based entitlements available to you have limits on the maximum worth of the vehicle you drive. Good luck and best wishes for your retirement years. To me you seem in great shape for a happy life.
Quote:
Originally Posted by Baconisgood
Too bad a person smart enough to learn and know how to milk the system wasn't smart enough to save some money, oh wait that would require working, lol.
...no need to be snide..."retired" certainly implies working for some years and disabled is rarely something that allows you to get ahead financially.
At $31,000 a year you should do okay by yourself. Do you have medigap or advantage plan? If you get so sick that you exhaust your savings, then worry about Medicaid. There are places you can go for help if and when you need to.
I make it living alone on less than $31,000, many people do. It's very possible but it depends upon how you live. I had to quit work sooner than planned due to a disability and was afraid I couldn't make it on what I had coming from SS and a small pension. I did have some savings but a previous loss due to an embezzlement by my union's investment company brought that down to very little, maybe enough with which to bury me.
Whatever you have, you can live with it if you just use it wisely. Don't listen to the articles and news stories that tell you you have to have a million dollars to retire. Lots of us don't have anything like that and do just fine. Don't panic and start making a plan.
Too bad a person smart enough to learn and know how to milk the system wasn't smart enough to save some money, oh wait that would require working, lol.
I was thinking the same thing. 31 grand a year income and 50 grand in the bank doesn't sound terribly horrible. But then again, many times I think this forum should be called "retirement for the rich and famous", when I read people being frantic because they only have 1.7 million in the bank and they are in their mid 50s.
Exactly. I wish there was a way to give negative feedback here. The poster he is criticizing is disabled. To claim they are milking the system is ignorant and really really offensive. Have some more bacon Wingnut, you may just find yourself in need of public assistance some day.
Exactly. I wish there was a way to give negative feedback here. The poster he is criticizing is disabled. To claim they are milking the system is ignorant and really really offensive. Have some more bacon Wingnut, you may just find yourself in need of public assistance some day.
You give negative feedback exactly the way you did above. Establishing a system of "negative reps" has been discussed several times in the "About the Forum" forum. Apparently City-Data used to have such a system a long time ago but it was problematic and it was eliminated. The capacity for abuse is inherent in any such system. Some people would give a negative rep every time they disagreed, which is not the purpose. Groups of bullies could get together and give negative reps to people they don't like, just like they do now in reporting people they don't like. The difference is that moderators have to review the reports before any action is taken and hopefully the moderators' objectivity will prevail. (And I think it does prevail most of the time).
First, are you not getting social security because you have the income from the other pension? If one is earning above the limit of $15,000 wouldnt SS cut benifits even though one pays taxes on the other pension? Im suggesting maybe she cant get SS or not the full amount...and....wouldnt it all be taxable then?
Second, I suggest moving out of US entirely. WHERE is the question but it can be done.
NO... SS only cuts its benefits if you WORK MORE THAN 15,000 WORTH OF MONey. I have a full pension and ss.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
