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I hope you don’t vote Republican. They want to cut your benefits. That’s the basis of this new tax plan. Put us in debt so they will tell the public they have no choice. My mother had lived on only social security alone and Medicare she couldn’t afford much. I had to help her as much as I could. It was painful to watch her not be able to even get her car serviced because she couldn’t afford it.
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.
That doesn't sound right. When you are gone and have a dependent spouse, she can give up her SS and continue to collect your FULL benefit, depending which is greater.
My half-sister works as a housekeeoer at a big hotel chain. She has always worked minimum wage jobs. She hasnt saved but after prodding from mom and other sister, she is now saving. Imho, its late but better now than never. She is 65 this year but plans to work until she is 70. It is a hard physical job so hope she can continue. Our mom pays her phone and sends he4 $100 a month. She will be living solely on SSA. She could apply for subsidized senior housing, get food stsmps, Medicaid supplement to Medicare, but she will be poor. We plan to help her out if we can. She makes about $13.50 an hour full time which works out to maybe $20k+ a year. I can’t see how she will be aboe to exist on SSA alone. I think there are many people out there like her.
I hope you don’t vote Republican. They want to cut your benefits. That’s the basis of this new tax plan. Put us in debt so they will tell the public they have no choice. My mother had lived on only social security alone and Medicare she couldn’t afford much. I had to help her as much as I could. It was painful to watch her not be able to even get her car serviced because she couldn’t afford it.
The bigsest Cost if HC that isn't covered.. and many want to suggest.. IF you are healthy?/ why carry HC Insurance.. Course those same folks forget accidental injuries/surgeries/ or unexpected sudden onset of issues.. GUESS who pays the basics?? TAXPAYERS!!
American system sucks!! Why NOT have to totality at least pay something towards it.. BUT to have complete "Free Market HC System is and has been proven stupid and only causes citizen's to lose every they had worked for throughout their lives!!
People also forget that those that go into Nursing homes/hospice or end of life care.. IS NOT covered by Medicare.. BUT Medicaid... due to legislations.. But it appears.. Gop-er's will defund anything that pays for such.. and will always claim.. It's their own fault or something else that they will preach to their constituents!!
Medicaid is a joint federal and state program that helps with medical costs for some people with limited income and resources. Most health care costs are covered if you qualify for both Medicare and Medicaid. Most, but not all, nursing homes accept Medicaid payment. Even if you pay out-of-pocket or with long-term care insurance, you may eventually "spend down" your assets while you’re at the nursing home, so it’s good to know if the nursing home you chose will accept Medicaid.
Medicaid programs vary from state to state. Most often, eligibility is based on your income and personal resources. Many states have higher Medicaid income limits for nursing home residents. You may be eligible for Medicaid coverage in a nursing home even if you haven’t qualified for other Medicaid services in the past.
To get more information on Medicaid eligibility in your state, call your state Medicaid office.
The elder society worked their whole lives to maintain themselves... however that HARD work disabled them in their declining years.. BUT supplements are NOW DEEMED expenses to be soon considers un-sustainable!! Course all of these folks will end up destitute.. and will die due to neglect!!
Why don't leaders of the USA wonder or question the mentality of any political PARTY to wants to DISENFRANCHISE those who PAID with their EFFORTS during their lives to at the very least be kept comfortable.. NOPE .. TOO BAD SO SAD 'TUDE!!
Congressman Ryan only survived as a child because his mom got benefits.. HOW soon he forgot that benefit!! No on a mission to get rid of that "Safety Net"!! He'll pay eventually!!
Between Trump and GOP they seem to be deconstructing "Capitalists Constraints " and Government regulations that would control abuse by CORPORATE influences+++ Between deregulation and gifting $$ to Corp's.. (including DJT-et-al) the only one's LOL, all the way to the bank are them.. SS survival income ones will be thrown to the CURB like "Takers (47%er's)" as Romney described during his run for POTUS!!
America has become nothing more than DOG EAT DOG Political MESS!! .. and those with the POWER + $$ will/has Taken OVER.. which is not according to what the original agenda was back during the origination of USA and the EVOLUTIONS after hundred+ years!!!!!!!!
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.
So much wrong with these poorly researched claims.
HUD subsidized housing income requirements vary from county to county within the US. $1,500/month ($18,000/year) for a single person is way to much for many areas in the US.
Eligibility for Food Stamps is $1,307 or less per month.
Since Medicaid eligibility is 133% of federal poverty level (Food Stamps is 130%) you wouldn't qualify for that either.
Quote:
Originally Posted by BucFan
SS wasn't originally established to be the sole income for folk's retirement - but it appears that in the next several decades, more and more Americans will depend on it as their only source of retirement income....
That will put a strain on State and federal government spending.
We own our home [no mortgage], I do not see where we will have any problems thriving on our SS checks.
Lol. My property taxes in NJ were 11000 a year even with a paid off house that's almost a grand a month. I don't have a spouse so only 1 check so even if i got the max benefit things would be tight.
I did move to Pa but they are still 600 month. So you can see why I and many others don't think 1500/ month is great living
you know, after reading this whole thread, if the OP was not just trying to "rabble-rouse", I think he was trying to justify not saving for his own retirement. Maybe he wants to spend everything he has now and pretend it will all be fine in the future. good luck with that.
I think the OP was just hypothesizing a scenario to elicit responses on how others see the scenario he presented.
It doesn't matter the age of the OP or what the OP plans to do with his life. He's just setting out a scenario to see if it is a possible way to live. And to elicit details on what he might be forgetting or elicit ideas of what can go wrong or how others are currently living in a similar circumstance.
Don't be ridiculous; of course it does. It would be one thing if the OP was in his 50s and wondering whether he could retire now or in the near future and then wonder whether he could survive once his $1500 Social Security benefit kicks in at 62 or so. It's quite another when an approximately 33-year-old man-child wonders whether he can quit working for the man soon and then survive by living off of food stamps and subsidized government housing 30 years in the future.
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