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Old 01-13-2018, 06:04 PM
 
199 posts, read 112,213 times
Reputation: 640

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Quote:
Originally Posted by southkakkatlantan View Post
Please also give estimated costs for:


Auto maintenance (I assume most retired people actually still own cars?) no car, wouldn't need one in city with good public transportation
Auto insurance (see question above)no car
Cable/internet (lots of free time once retired...no cable or internet?)no cable, never had it, never will... data plan for internet is part of cell phone bill
Travel (will you never go anywhere ever again?) there are $500 left over each month
Personal (will you stop cutting your hair?)you can get a Flowbee and cut your own hair
Electric bill (do people in senior facilities not pay this?)that's included in the housing
Water bill (see question above)included in the housing
Gifts (will you not give to any charity and/or give any gifts to anyone ever on special occasions and/or holildays?)most charities are scams taking advantage of tax-exempt status, so I never donate... the occasional gift can be from the $500 left over... most of my relatives will be old or dead at that point anyway
Hobbies/socializing/shopping (will all the things you do be free? will you never eat out? will you never buy anything you want for these hobbies or shop for clothing again?)walking/hiking is free... eating out occasionally is part of the food budget
.
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Old 01-13-2018, 06:06 PM
 
Location: South Florida
566 posts, read 661,385 times
Reputation: 718
Quote:
Originally Posted by jim9251 View Post
Subsidized senior complex? $500 a month rent? Food stamps? Bus pass - what's a bus? I have no idea where any of this is, certainly no where near here.
Exactly
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Old 01-13-2018, 06:08 PM
 
Location: South Florida
566 posts, read 661,385 times
Reputation: 718
Quote:
Originally Posted by BucFan View Post
see item about having a bus pass in OP



Cities and towns across the USA.
Could you list the cities and towns and the waiting list time to get in? They don't exist anymore
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Old 01-13-2018, 06:10 PM
 
Location: Jollyville, TX
3,850 posts, read 9,438,969 times
Reputation: 4392
Quote:
Originally Posted by VTsnowbird View Post
you think a single person would get $200 a month in food stamps? what do you base that on? And how about waiting lists for subsidized housing, as the population ages, they are just going to get longer.
My brother lives on $8000 a year and gets $190 a month in food stamps. Fortunately, thanks to my mom, he has a paid for roof over his head. He's perfectly happy, but I wouldn't want to be in that situation.
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Old 01-13-2018, 06:12 PM
 
199 posts, read 112,213 times
Reputation: 640
Quote:
Originally Posted by boston904 View Post
Could you list the cities and towns and the waiting list time to get in? They don't exist anymore
In Houston, the bus system is 50% off when you reach 65 and it's free when you turn 70. You just apply for a card - METRO Q Card

I'm sure most other major cities have similar setups.
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Old 01-13-2018, 06:17 PM
 
Location: Verde Valley AZ
8,612 posts, read 9,676,241 times
Reputation: 10950
Quote:
Originally Posted by whateverblahblah View Post
Let's say you retire early and then your money runs out about the time when you start collecting Social Security.

It seems like you could do OK even as a single person. Let's say you get $1,500/month in Social Security.

You can move into a subsidized senior complex where you pay 1/3 of your income, which would be $500. You'd also get $200/month or so in food stamps, and you would also get Medicaid. If you live in a city, you could get senior bus/train passes which should be very cheap.

So really, your monthly expenses would be as follows:

$500 Rent
$50 Bus pass
$300 Food (since $200 is covered by food stamps)
$0 Medical since you get Medicaid
$50 cell phone with unlimited data
$100 household goods
------------
$1,000 total expenses per month

That means you would have $500 left over for whatever you want. Not a bad deal if you ask me.

I know a lot of people getting SS checks, including me, and I don't know one person who gets that much a month. Most are less than $1,000 month. BUT if I got $1,500 a month I could live pretty good. My mortgage isn't much higher than your hypothetical rent, my car uses about $30 mo. in gas and I have a mechanic who is reasonable but it's rare I have to see him. I have Medicare, not Medicaid, and I still have to pay copays for doctors and prescriptions. I don't 'get' your figure for food though. Is that $300 mo. PLUS $200 in food stamps, which a single person here doesn't get. It's less than that and in some cases barely $100. When my mom died she was getting less than $700 mo. in SS, had Medicare and Medicaid and $87 mo. in food stamps. She started out about $150 but every year they took some of it away even though nothing changed. .She owned her home outright and hardly drove so not much upkeep there. Anyway, if your hypothetical food budget is $500 a mo. that's an awful lot. Mine is $200 and includes all the food, housekeeping and pet 'stuff', etc.. It might go a little over but not much. And I could still pay all my utilities, credit cards, etc. At $1,500 mo. income I wouldn't be allowed to have food stamps and Medicaid here. Too much income. When I was making $1,024 mo., way back when, they told me I could get $16 mo. in food stamps. I told them "No thanks".


Oh, and I don't own a cell phone but my TV/internet/phone bills are high. However, that is the ONLY entertainment I pay for. I don't eat out or go to movies or do a lot of running around. And I don't like to shop!
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Old 01-13-2018, 06:22 PM
 
71,508 posts, read 71,674,131 times
Reputation: 49084
a couple that max's out on both benefits can get more than 80k in ss . we get 40k but i filed at 65
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Old 01-13-2018, 06:24 PM
 
Location: Tampa, FL
27,798 posts, read 26,200,766 times
Reputation: 14611
if you don't go the low income senior housing, another option could be to share a low-cost housing unit as a room mate....I live in a 55+ community (FL) where you see a few requests for roommates at a cost near what you'd be paying in your breakdown. These communities offer shuttles around the area to its residents.
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Old 01-13-2018, 06:28 PM
 
2,498 posts, read 6,389,321 times
Reputation: 2257
Unfortunately my wife of 62 years will face this SS situation,I am 84 and when I die all my benefits cease.She will have to sell home.She will not be left penniless.
Our fixed expenses are $5700 and her SS will be as of now $1500.
Our daughter and son in law are not monetarily nor son in law handy man enough to maintain a home,nothing in bank.
A home is a gamble when it comes to expenses and upkeep,better off in senior housing.
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Old 01-13-2018, 06:37 PM
 
Location: Grove City, Ohio
10,129 posts, read 12,378,690 times
Reputation: 13951
Quote:
Originally Posted by mathjak107 View Post
a couple that max's out on both benefits can get more than 80k in ss . we get 40k but i filed at 65
I got mine by forcing myself to work longer. I was shooting for 70 but at 69 1/2 I broke down and took it.

69 1/2 and not 62 is how I funded my retirement. What makes SS benefits special is for most of us, I said most but not all, our SS benefits are exempt from state and local taxes.
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