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I should add that my realtor went to work part time for the guy and one of the worse days of her life was the day the FBI walked in. That fact that she lost 6 figures helped convince them she wasn't involved and didn't know. She was processing statements for him but worked with the numbers he gave her.
Isn't early planning key to successful retirement. I know many people don't even have a plan. Or the plan is to collect social security benefit and thinking this is just good enough to survive.
Early planning is definitely the key and I'm one of those who didn't even have a plan. In all my years of working I was never really able to plan for retirement. I never worked for a company that had a 401k plan, I moved around way too much to have a good and steady career and worked low paying jobs. ALL my life. Add to that I fully expected to still be married and not HAVE to be 100% dependent on myself. But, as we all know, life throws us some real curve balls sometimes and we have to regroup. Again.
I never counted on social security being "good enough to survive" and accepted the fact that I would likely be working till I drop dead. Probably ON the job! lol Luckily for me I have a really good part time job that I love doing. I actually believe there are a lot of women of my age and generation who, because of how we were raised and taught, didn't really think they needed to plan their own retirement. OTOH there are a lot who did.
Probably my biggest regret in life is that I didn't have a career for myself and be able to do the things I should have to prepare for the NOW of my life. Too many 'not so good' decisions in my life, parents who didn't think I needed to further my education because, after all, "You'll just end up married with a houseful of kids anyway so it would be a waste of money". My parents eventually actually apologized for saying that and I DID get to college in my 30s. Even so I sometimes wish my life had been different but, being the positive person I am, I won't let any of this affect the quality of my life now. The negative past isn't worth thinking about, really.
Early planning is definitely the key and I'm one of those who didn't even have a plan. In all my years of working I was never really able to plan for retirement. I never worked for a company that had a 401k plan, I moved around way too much to have a good and steady career and worked low paying jobs. ALL my life. Add to that I fully expected to still be married and not HAVE to be 100% dependent on myself. But, as we all know, life throws us some real curve balls sometimes and we have to regroup. Again.
I never counted on social security being "good enough to survive" and accepted the fact that I would likely be working till I drop dead. Probably ON the job! lol Luckily for me I have a really good part time job that I love doing. I actually believe there are a lot of women of my age and generation who, because of how we were raised and taught, didn't really think they needed to plan their own retirement. OTOH there are a lot who did.
Probably my biggest regret in life is that I didn't have a career for myself and be able to do the things I should have to prepare for the NOW of my life. Too many 'not so good' decisions in my life, parents who didn't think I needed to further my education because, after all, "You'll just end up married with a houseful of kids anyway so it would be a waste of money". My parents eventually actually apologized for saying that and I DID get to college in my 30s. Even so I sometimes wish my life had been different but, being the positive person I am, I won't let any of this affect the quality of my life now. The negative past isn't worth thinking about, really.
You are a very wise woman. Your wisdom and intelligence is so inspirational. Thank you for posting.
Yes, plans can go awry, but it's better to have some sort of plan supported by backup plan IMHO.
Perhaps you didn't see my earlier post. I was just curious as to what sort of backup plan you would suggest. It might be helpful for the younger people who are just starting out. Clearly, the conventional saving for old age hasn't been successful for everyone.
We used to work at our local soup kitchen where people could get food, a place to sleep, help with job searches, limited medical treatment, and clothing. Many services require your SS number for fraud prevention. Our local agency has services for women and children, and a separate area for men. One of the clients worked for moving companies and then between gigs, he lived at the shelter to save money to build his house. Also, many of the shelters are now connected, or at least share client info, so if you apply at one, the services you receive will be able to be tracked to where ever you go next. We left as some of the volunteers were, shall we say, competing for donated food and clothing with the actual clients. I heard one volunteer had a grocery store in his garage!
In this valley, with so many imports getting the best paying jobs while Americans are struggling, makes me wonder what has happened to the collective morals of America.
Quote:
Originally Posted by markg91359
A destitute person of any age does have a number of private options they can look at. I will give some examples:
1. Health care. Check out whether a Community Health Center exists in your area. I used to serve on a board of directors for one in my hometown. The center will provide medical care based on a sliding scale that is dependent on the income of the patient. Very often, cheap medications can be obtained directly from the CHC at no cost or low cost because some pharmaceutical companies give them to the CHC for this purpose. Flu shots and pneumonia shots can be obtained for free.
2. Food. Most churches operate a food pantry, bishop's storehouse, or community garden. These churches will typically serve and support non-members as well as their own. It does require that you get up, look around, and ask questions. You might also go to a Senior Center. Very often lunch is provided at no cost, or low cost to all the people who come to the Senior Center. Often a courtesy bus or shuttle is available that will pick seniors up at their home and transport them to the Senior Center and back at no cost. I'm bringing up the government here, but I would suspect a destitute elderly person would be eligible for Food Stamps.
3. Housing. This is probably the most difficult area. However, I would begin by contacting churches again. Very often they do have leads on places where people can get very low cost housing.
4. Clothing. "Good Will" stores are operated by groups like the Salvation Army, Deseret Industries, etc. Used clothing can be obtained at a very low cost for the truly needy.
Many of the places described in the above posts are not geared to help people who are marginally poor but rather the populations of "homeless", a euphemism for bums who are frequently alcoholics, drug addicts, and criminals. These aren't people who were caught by circumstances. These are predators who won't work but are happy to intimidate others, particularly the weak, into giving them money. From the OP's description of his friend I wouldn't categorize her with these people. She seems to work hard but just isn't very good at making money. She shouldn't be in the company of the lowlife community. She would actually be in danger. She's really part of normal society, our society, but doesn't have much money. She's very fortunate to live in Montana where an inexpensive apartment doesn't meant that she's living in some urban hell. but she does work and she's not asking for handouts. She's not panhandling for drug money.
Let's not lump all poor people together. They are not all the same.
Quote:
Originally Posted by TuborgP
I fully agree with you. My comments are on the reality of the situation. Many of us are guilty. Myself included. How many of us have relocated to a state with lower taxes, lower cost of living with out regard to the social benefits the state provides to their needy.
My first reason to live in Wyoming has been for the political freedom. This includes the amount of money that the government here takes from me, less than any other state. I am not guilty of anything because I wish to preserve my wealth. Some who have wasted and squandered their money have with the help of the entertainment media convinced many people that they should feel pangs of guilt because of their foresight and prudence.
I am so sick of hearing about the needy, of their sainted victimhood at the hands of the succesful. The government has no moral right to take my money and support these wastrels. But it's vote buying at bargain rates. My charitable contributions are directed solely to groups protecting animals who unlike people never act with malice but are sadly at the mercy of humans. I am the only one who has any moral authority in determining to whom I give my money.
Those who wish to help the downtrodden could better spend thir money on animals. They'll receive only gratitude in exchange instead of the contempt of the "street people". United Way gives nothing to animals; the government provides no funding to animal charities. It's up to us.
Those who are envious of boomers ought not be. The certainty that generations before us had is not as sure for us.
Here in California the Nurses Union acts like they own the enitre state so they don't have to pay for their own health care but we sure do get charged to make up for their free care. No surprise that because of them, and others in the health care industry who don't pay, many vulnerable citizens are priced out of health care. Throwing stones at people who are having a hard time really isn't needed or useful to the human race. Most animals also have a sense of living in pack for protection from other predators.
In another time and place, things were more a little more even handed. Families also took care of each other in old age or in times of trouble . Social Security wasn't supposed to be anyone's retirement plan but a plan to keep some out of poverty in their old age. We planned as much as we could but like many others, we often didn't have the extra money and when we finally did, it has taken time to learn the investment strategies needed to hang on to what we have. We are luckier than some, but not as well as off as we could have been had money driven every aspect of our life. Not everything that counts, can be counted.
Many of the places described in the above posts are not geared to help people who are marginally poor but rather the populations of "homeless", a euphemism for bums who are frequently alcoholics, drug addicts, and criminals. These aren't people who were caught by circumstances. These are predators who won't work but are happy to intimidate others, particularly the weak, into giving them money. From the OP's description of his friend I wouldn't categorize her with these people. She seems to work hard but just isn't very good at making money. She shouldn't be in the company of the lowlife community. She would actually be in danger. She's really part of normal society, our society, but doesn't have much money. She's very fortunate to live in Montana where an inexpensive apartment doesn't meant that she's living in some urban hell. but she does work and she's not asking for handouts. She's not panhandling for drug money.
I cannot agree with this opinion.
I live just a block away from the Public Health Clinic here in West Philadelphia, a place where I do some volunteer work, and sometimes use their services. The people who are served at this clinic are almost always hard working people but are employed at jobs where they make less than $10 an hour, have no health insurance, or both. We have a lot of immigrants from countries like Cambodia, Indonesia, Colombia, Peru, Russia, China, etc. and these are the people who work in restaurants in the kitchens, or clean your hotel room, or are on the landscape crew of the nice condo communities. They are working - often very hard and two or more jobs - but have no health insurance.
Affordable housing for seniors (62 +) are available but there is a 2 - 3 year wait. Rent is based on a sliding scale. To qualify you must be making one half of the average adult income of Philadelphia County. In other words if the average income here is $46,000 per year (just an educated guess) any senior who earns $23,000 or less a year qualifies. I would suggest any person interested in affordable senior housing put their name on the list when they turn 60. If you are living on just Social Security and your monthly check is $1,000 .... your rent will be $333 a month.
These services are not free. The clinics do charge based on a sliding scale. They are for people who work at low paying jobs, people with disabilities - both physical and mental, laid off workers, senior citizens, and people with no insurance.
The services provided for "the homeless" in this city are basically #1 - shelters and #2 soup kitchens. The shelters are awful (rodent infested and unsafe) but the soup kitchens are not so bad. That is why the homeless often prefer to sleep under highways or bridges or empty lots or abandoned homes rather than stay in the shelters.
^^Don't know what Happy in Wyoming's life experience has been, but watching C-Span daily has opened my eyes to the serious disconnect in this country between those living in less populated rural areas and those living in heavily populated urban areas. The conservative, more rural part of the country has rigid views on all these "handouts." with no understanding of, or patience for, the social dynamics occurring in the cities.
They may say they moved to the country to get away from that. But moving away, or never having been exposed because you've always lived rural, does not eliminate the reality of the heavily populated states/cities.
This in no way ignores the abuses and graft endemic in some of these programs.
Nonetheless, regionally, we certainly are a country divided.
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