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Old 02-25-2017, 05:13 PM
 
Location: SW Florida
9,760 posts, read 7,041,256 times
Reputation: 14300

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Quote:
Originally Posted by TMKSarah View Post
Has anyone known of someone that ran out of money?

Yes. My mother. She still brings in around $1400/month in SS, spends much of that in monthly payments to the ALF she lives in (her choice), and my husband and I pick up the rest of her expenses, needs, wants.
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Old 02-25-2017, 07:40 PM
 
Location: Tennessee
23,592 posts, read 17,582,380 times
Reputation: 27682
People work with whatever they have. That's basically all there is to it.
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Old 02-25-2017, 07:58 PM
 
13,321 posts, read 25,569,771 times
Reputation: 20505
Move to a mobile home in a cheap state and make do.
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Old 02-25-2017, 08:51 PM
 
Location: Close to an earthquake
890 posts, read 677,754 times
Reputation: 2390
Quote:
Originally Posted by Vasily View Post
I was laid off at the age of 61. Over a year and a half period, I worked as a consultant for a while, when that ended I went through unemployment, and couldn't find a job (this was in the wake of the 2008 disaster). I got food from food pantries, local charities helped with my rent and expenses, and I got some help from friends (I don't have family that can or would help in that situation - there are friends who would have taken me in if I was evicted).

I was out of resources, couldn't continue renting my apartment, and was considering starting to collect Social Security when I turned 62. That would probably include filing for bankruptcy since I couldn't pay my debts with no income. Fortunately, a friend had a position available in IT and hired me. About ten years later, I'm getting ready to retire from full-time work -- and my company is trying to get me to stay on until the fall.

I lucked out -- a lot of people didn't, so when you hear about people going on disability when they're not really disabled, you need to realize before you get all judgey that at the time when I lost my job in this terrible economy, there were a lot of guys I saw who were in their 50s and really didn't have a lot of options available to them. Desperate people who are at the end of their ropes will do what they need to do to survive -- and there are a lot of older people who just gave up because the jobs aren't there (or they didn't have the energy of a young person to work two or three part time jobs to survive).

When I see older people on the street, I think, that easily could have been me. Go ahead and resent me for going on unemployment and depending on charity when I was at the bottom -- you may be in the same boat some day. Hopefully younger people will treat you with a little compassion rather than resenting their having to provide for you in your desperation.
Thanks for sharing your story and its happy "ending". I've known of men in their 50's who lost their white-collar job and wouldn't want to be in their situation. I can't imagine the emotional toil that would bring along with the feelings of being too old. I can't imagine what it would be like to have some 30-something person interview me for a job paying half (or less) of what I had been paid. I can't imagine trying to apply for a job online the way it's done now. No more dropping a resume off, talking to someone, getting a feel of the opportunities. So robotic now or at least I think.

Thanks again, for the pearls of gratefulness, reflection and wisdom embedded in your sharing.
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Old 02-25-2017, 09:15 PM
 
Location: plano
6,574 posts, read 8,108,094 times
Reputation: 5812
Quote:
Originally Posted by borninsac View Post
Thanks for sharing your story and its happy "ending". I've known of men in their 50's who lost their white-collar job and wouldn't want to be in their situation. I can't imagine the emotional toil that would bring along with the feelings of being too old. I can't imagine what it would be like to have some 30-something person interview me for a job paying half (or less) of what I had been paid. I can't imagine trying to apply for a job online the way it's done now. No more dropping a resume off, talking to someone, getting a feel of the opportunities. So robotic now or at least I think.

Thanks again, for the pearls of gratefulness, reflection and wisdom embedded in your sharing.
I couldn't agree more. Makes me even more upset with those who caused the 2008 crash. Fed gov for allowing liar loans, mortgage applicants holed to get loans they could not afford and the banks for bundling these garbage loans to cause mass economic destruction. The near zero rate environment on savings since has sowed additional seed of destruction which lies ahead of us.
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Old 02-25-2017, 10:10 PM
 
Location: Cochise county, AZ
4,976 posts, read 3,462,838 times
Reputation: 10509
For my mother, those who could afford it helped her out. One brother owned a home here but lives in Michigan. Our oldest sister, who'd lost her travel business in the recession, lived with Mom at my Michigan brothers home here & everyone helped out.

As for myself, being on social security, I plan on moving to a lower cost state & hopefully buying a mobile home outright. I'll be checking on this soon. I will then be able to live comfortably o social security & my remaining savings.
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Old 02-25-2017, 10:17 PM
 
Location: Northern California
269 posts, read 154,708 times
Reputation: 548
Quote:
Originally Posted by Travelassie View Post
Yes. My mother. She still brings in around $1400/month in SS, spends much of that in monthly payments to the ALF she lives in (her choice), and my husband and I pick up the rest of her expenses, needs, wants.

Wow!
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Old 02-25-2017, 11:02 PM
 
Location: Cushing OK
14,547 posts, read 17,553,017 times
Reputation: 16777
Quote:
Originally Posted by Vasily View Post
I was laid off at the age of 61. Over a year and a half period, I worked as a consultant for a while, when that ended I went through unemployment, and couldn't find a job (this was in the wake of the 2008 disaster). I got food from food pantries, local charities helped with my rent and expenses, and I got some help from friends (I don't have family that can or would help in that situation - there are friends who would have taken me in if I was evicted).

I was out of resources, couldn't continue renting my apartment, and was considering starting to collect Social Security when I turned 62. That would probably include filing for bankruptcy since I couldn't pay my debts with no income. Fortunately, a friend had a position available in IT and hired me. About ten years later, I'm getting ready to retire from full-time work -- and my company is trying to get me to stay on until the fall.

I lucked out -- a lot of people didn't, so when you hear about people going on disability when they're not really disabled, you need to realize before you get all judgey that at the time when I lost my job in this terrible economy, there were a lot of guys I saw who were in their 50s and really didn't have a lot of options available to them. Desperate people who are at the end of their ropes will do what they need to do to survive -- and there are a lot of older people who just gave up because the jobs aren't there (or they didn't have the energy of a young person to work two or three part time jobs to survive).

When I see older people on the street, I think, that easily could have been me. Go ahead and resent me for going on unemployment and depending on charity when I was at the bottom -- you may be in the same boat some day. Hopefully younger people will treat you with a little compassion rather than resenting their having to provide for you in your desperation.
Disability is a double edged sword. Yes, you have an income. But the income will leave you counting every penny, even if you make wise and careful purchases and live in a rent controlled area. And you notice when people make remarks about the price of things. A relative who gave the kids a hundred a month for clothes made me feel like nothing. On the other hand, I have found that if I have to think of each purchase, and decide if its worth it, its made my inside peace improved. But its hard when you turn on the tv and see ads for stuff you like but can't afford now, and know that won't get better.

The idea of moving to a place cheaper helps, and is what I did. My house is small but mine. Family help made it possible. But in seven years here I've never met anyone who I really share interests or want to spend time with, and that should matter too.
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Old 02-25-2017, 11:09 PM
 
Location: Cushing OK
14,547 posts, read 17,553,017 times
Reputation: 16777
Quote:
Originally Posted by meo92953 View Post
For my mother, those who could afford it helped her out. One brother owned a home here but lives in Michigan. Our oldest sister, who'd lost her travel business in the recession, lived with Mom at my Michigan brothers home here & everyone helped out.

As for myself, being on social security, I plan on moving to a lower cost state & hopefully buying a mobile home outright. I'll be checking on this soon. I will then be able to live comfortably o social security & my remaining savings.
If your looking at areas with smaller towns, another good option is an older, smaller house. Mine is 700 sf, and built in 1930, but is still solid and quiet funcitional. It's in a small town, but if you drive there's larger places within the hour. Property taxes are also very low. It's another option if you wouldn't be moving the mobile home around.
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Old 02-25-2017, 11:37 PM
 
Location: Las Vegas
13,890 posts, read 25,331,777 times
Reputation: 26388
I learned you are better off with not much than you are with just a bit more! My SO's cousin moved here and his total income is right at 1K per month. He lives in subsidized housing, he pays 30% and all his bills are paid. He gets SNAP and all the food banks are open to him. His phone is free. He has Medicaid and they pay his Medicare premium. Everything health related is free. He even has transportation to appointments. So he ends up with money left over because he pays very little for anything.

He is in a better situation than a senior in the exact same position who makes $1500 per month. He gets everything free or discounted. The other person gets nothing. And after they pay market price for an apartment and utilities, they have less spending money than the poor person who gets all the help.
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