Making a plan late in life with few resources. (mortgage, property taxes, 100k)
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Ss is insurance and like all insurance it pays claims with present and future money …it is not a Ponzi scheme and anyone who calls it that needs to get better educated on the definition of Ponzi scheme..
Annuities ,pensions and ss all work off future money to pay present claims .
Ponzi schemes promise high returns in goods and services that don’t exist defrauding investors and uses their money to pay off new money .
Ss neither promises high returns , nor invests in anything other than what it can by law which is special treasuries which have never defaulted on principal nor interest payments.
Some like to throw around words they don’t understand the meaning of.
It also consists of money us workers paid in over a lifetime to receive that insurance making it user funded.
And before anyone starts with the myth about it being stolen go learn how ss works…
It was never taken and mixed with general funds …
That stems from Johnson combining the surplus from ss with the federal deficit so it looked better to get funding for the war solely on paper …the funds were never touched or moved.
By law ss can only buy special treasuries or go in to ss retirement , ssdi , or ss survivor .
Those special treasuries pay a higher rate then the ones the rest of the world buys and the interest goes right back in to the ss funds.
So I suggest anyone here who stills believes their own bull do the research
Last edited by mathjak107; 07-12-2021 at 04:11 AM..
it makes me wonder. When those people go to the barber shop and chatting with the barber, are they really thinking "what a loser". When they take the kids to ballet class are they inwardly sneering that the teacher didn't pick a lucrative career? When they go to the theater do they really look down on the people who brought them the experience because their career goals are unrealistic? The people who bring them music, art, drive their taxis, cook for them in restaurants. All the 'losers' that do the things that make their own lives better. And, guess what, many are doing their jobs because they love them and aren't aspiring to be real estate salespeople.
There's an old school diner near me. Hasn't changed since it was built and the old guy behind the grill has been there for 47 years and he's proud of it. great stories and back and forth with the customers. Or my barber, Emilio who has been cutting hair in the same shop since he came from Italy in the 70s. The salt of the earth people who make many people's lives richer and more interesting. The million 'losers' without who life will be bland and colorless. I am quite sure they will be remembered and missed when they pass long after everyone has forgotten who showed them their house or sold them their insurance policy.
It's not sour grapes when I shudder at the vapid lives of the retirees in the mile upon mile of beige stucco condo complexes all over Florida - all surviving on a dozen medications. I'd be reading the labels to see how many of them I'd need to take to end my misery. But that's just me. If nothing else, posting my question and the memories it stirred up in my responses has made me so happy and grateful for the life I've had. Wouldn't trade it for all the 'normal' lives in the world. and certainly don't regret it.
The point that you're definitely missing is how much effort it is for a small business to win over a 40 year time frame. I don't know anyone that would give that anything but respect. That's commitment and an add to the community. People that stick to their trade for a long period of time get good at it. Same goes for artists and teachers and similar. Chances are, with 40 years of stability, those employees have found their way financially as well. As for the owners of those companies...the one driving the change. The ones you can tell because they move that much faster and care that much more....there's definitely mad respect there. Don't think for a second that there are not wealthy teachers, hairdressers, chefs or anything similar.
I'm the Corporate Controller of a company. My wife has her own dry cleaning and alterations store. While last year was decidedly different, by surviving while all of her surrounding competition closed she's beating me this year....we'll see who wins post bonus.
She had one particular customer, a pharmacist, who loved to display the attitudes you note. She just charged him more. (You know, because he knew people like her couldn't make it in the Bay Area) However, the vast majority appreciate coming to her service for what it is. They talk and gossip. The new store only reinforcing what she already knows. That's where you go to look good. To make your clothes fit the best for you. You want cheap....go to Tully Avenue....and an old grandma will make you look like your grandma did your clothes.
I love watching sole proprietors work. They are amazing in whatever they're doing. People bouncing around from job to job trying to butt in on kinship there...definitely not the same.
we decided against retiring in the poconos where we had a second home .
few choices in medical facility's , specialists , hospitals , etc .
plus if i couldnt drive there is no public transportation or uber/lyft
we had scranton hospital , that was really it .
when gloria estafan was injured in the area the first thing they did once she was stabilized is get her out of there and in to a nyc trauma hospital .
so we sold it and are staying right here in queens
Yes, it seems like access to services is most important in older age. Living out in the middle of nowhere is for the young. My neighbor wants to move out into the middle of nowhere at 70 and I keep trying to convince her it is a mistake (she's not trying all that hard to make the move though)... To me this suburb of Portland is already as BFE as I ever want to live.
living in a small town is not a good idea either,doctors dont like to practice there as he could end up as the only one who does everything !24/7 on call
I'll start off by saying I haven't made the wisest life choices - failed businesses, unrealistic expectations, etc, etc. Regrets and second guessing are pretty pointless. But, as I'm coming up on 65 I'm trying to think of a way to ride out these final years.
I have just 45,000 in savings, but no debt at all. My income is S.S. and I work 3 days a week. I live very frugally, but I rent a house at probably more than I should afford, but it's not that much more than what apartments are going for now in my area, and I can have my old dog here, so I stay. This is about to change as the landlord is making moves to sell the house.
I tend to be an isolated loner and that is my nature so I'm not at all crazy about living in an apartment block. Actually, I'd love to find a small place in a remote area.
As I get too old to work, one thing I was thinking about was seeing if I could qualify for a Section 8 housing voucher that I could supplement so I could rent a small place somewhere. I'm not averse to moving elsewhere in the country. New Mexico appeals to me and rustic living doesn't scare me at all. I used to think moving to Mexico or Panama would be a solution, but that doesn't appeal to me much anymore.
So, does anyone know whether having some savings, small though they might be, would disqualify me from housing assistance? Is it moveable, so if I got a voucher in my high rent state, could I use it in another state? Honestly I hate the thought of getting any assistance, but I need to face the reality of the situation I'm in. I won't be able to continue to work forever and my energy level is dropping quickly.
I'd love to hear from other people who found themselves in a similar situation and how they handled it.
By your own admission you have made bad choices, which have contributed to the state of affairs you currently are experiencing.
Kudo's for your honesty and self recognition.
Now let me be brutally honest with you.
While I have no issue with you looking for helpful advice, it seems to me like you are looking for other people to continue to bail you out for your own poor choices. Wondering if Section 8 housing is an option for you, is asking taxpayers to continue to subsidize your poor choices.
What ever happened to the ethics and personal pride that prevented people from accepting charity from strangers.
Years ago, even those willing to take handouts had a desire to pay it back.
Today people who have lived off of others their entire lives win the lottery (with someone elses money), and never think to pay the taxpayers back for all the money to house, cloth and feed them, not to mentioned the free healthcare and education.
So as they say, wake up tomorrow morning, pull yourself up by your bootstraps, and start making your own way in this world, rather than looking to continue to live off of other peoples work.
By your own admission you have made bad choices, which have contributed to the state of affairs you currently are experiencing.
Kudo's for your honesty and self recognition.
Now let me be brutally honest with you.
While I have no issue with you looking for helpful advice, it seems to me like you are looking for other people to continue to bail you out for your own poor choices. Wondering if Section 8 housing is an option for you, is asking taxpayers to continue to subsidize your poor choices.
What ever happened to the ethics and personal pride that prevented people from accepting charity from strangers.
Years ago, even those willing to take handouts had a desire to pay it back.
Today people who have lived off of others their entire lives win the lottery (with someone elses money), and never think to pay the taxpayers back for all the money to house, cloth and feed them, not to mentioned the free healthcare and education.
So as they say, wake up tomorrow morning, pull yourself up by your bootstraps, and start making your own way in this world, rather than looking to continue to live off of other peoples work.
`
OP does work and by all indications has worked his entire life. He has contributed to the system.
Well, with a 3 trillion dollar deficit, government money is coming from other than taxpayers. Seems like we all have some benefits from that spending.
Seems like we will have deficits for decades saddling future generations combined with soon-to-start inflation that will saddle ours. Great benefit. The state evading reality, just like most of its dopey citizens love doing.
Seems like we will have deficits for decades saddling future generations combined with soon-to-start inflation that will saddle ours. Great benefit. The state evading reality, just like most of its dopey citizens love doing.
Didn’t say it was good, but I don’t know of many who are sending their stimulus checks back either.
Well, no. She was going to buy the house I'm now renting.
If she buys the house and rents it to you she has a real estate deduction. Between the rent, the appreciation and the real estate deduction it could be a minimal to no cost situation for her.
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