Any Senior Couples here live on 2k or less per mo? how do you do it? (Canada, conversation)
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but the couple must have been married at least ten years. if you were married 9 years and 11 months, a SS survivor benefit does not apply. At least, that's the way I understand it. Please correct me if I'm wrong.
The 10 year requirement is only for divorced spouses. If you are a current spouse, survivor benefits only require you be married for 9 months.
Quote:
§ 404.335. How do I become entitled to widow's or widower's benefits?
We will find you entitled to benefits as the widow or widower of a person who died fully insured if you meet the requirements in paragraphs (a) through (e) of this section:
(a) You are the insured's widow or widower based upon a relationship described in §§ 404.345 through 404.346, and you meet one of the conditions in paragraphs (a)(1) through (4) of this section:
(1) Your relationship to the insured as a wife or husband lasted for at least 9 months immediately before the insured died.
(2) Your relationship to the insured as a wife or husband did not last 9 months before the insured died, but you meet one of the conditions in paragraphs (a)(2)(i) through (iv) of this section.
It lists several exceptions, such as the insured was expected to live 9 months at the time of marriage, but the death was accidental, you and the insured were natural parents of a child or adopted a child together who was under 18, etc.
Quote:
§ 404.336. How do I become entitled to widow's or widower's benefits as a surviving divorced spouse?
We will find you entitled to widow's or widower's benefits as the surviving divorced wife or the surviving divorced husband of a person who died fully insured if you meet the requirements in paragraphs (a) through (e) of this section:
(a) You are the insured's surviving divorced wife or surviving divorced husband and you meet both of the conditions in paragraphs (a)(1) and (2) of this section:
(1) You were validly married to the insured under State law as described in § 404.345 or are deemed to have been validly married as described in § 404.346.
(2) You were married to the insured for at least 10 years immediately before your divorce became final.
Again, it lists some other conditions, but 9 months for a current spouse and 10 years for a divorced spouse , is the general rule of thumb.
Is selling your home and moving to a less expensive home an option? I knew a man who 30 years ago sold his 500k home in California and bought a home for 60k in his native state. That made his retirement much easier.
I have a brother and sister in law (mid 70's) living on $2,500 per month SS and nothing else. While they can get by, if one dies the other is screwed. The survivor will be dependent on family.
I'm neither married, nor elderly. But I budget $1,925\month.
Last month I exceeded that budget by $260.
Due to car repairs and ~$360 I spent on lumber to build Beehives.
Most months I come in $100-$300 under.
$301 is my mortgage
Just shy of $550 is bills (inclusive of mortgage)
My primary health care is the VA, I also have Tricare and use it when the VA doesn't fit.
I do have a vehicle (a couple actually. One I just use to tow, but this backup allows me not to worry so much about repairs, timely replacement etc.)
I budget $300\month for repair and replacement outside this budget, although I typically manage to do repairs within it. (If I was older replacement would be less of an issue.)
Food I budget $200, but often don't spend it. I'm sure the garden, picking fruit and canning help. As does buying on sales (last time I bought (very good) bacon I bought 15lbs and sliced it myself. $1.35\lb + the cost of vacuum seal bags for the freezer.)
I also butcher some of my own meat etc
I could easily come in under $1,500 and could manage under $1k if necessary, but I save a significant % of my income and are no need to pinch further.
Well, being elderly changes everything. Don't know if that means you are 50 or 40 or 60 or what.
She will have Medicare premiums, and then high medical costs above that unless she can afford Plan F (which she probably can't afford on $24k a year).
If she's working and taking care of sick husband, she won't have time to garden (if she even has any land).
As for deals on meat...it would be cheaper not to eat meat, so that's not a savings.
It's going to be tricky understanding my life expectancy. My grandfather kicked the bucket at 67 due to wernicke's encephalitis and diabetes as a secondary result. My other grandfather kicked the bucket at 50 due to heavy cigar smoking and stress of providing for 8 children. So I have no clue what their total life expectancy would be if they lived my lifestyle with proper nutrition, stress management and no smoking. I do drink a lot but I will not get wernickes because for that you need a chronic B deficiency. I am rather anal about nutrition and I'm hoping to get back on the fitness track soon. My BMI is technically overweight (27, 6'0 200lbs) but I carry the fat evenly distributed and have high muscle mass. Estimated BF is 20%. So visibly I am not overweight. My Father who is still alive at 55 will be all I have to go off of including my Uncles on his Father's side, his brothers and my 1 Uncle on my Mother's side. I have one Great Uncle who is 90 and didn't do the right thing in life. But he was in jail for 20 years which keeps you on low calorie diet and high exercise of course. So that's skewing it also. I am estimating 90 but that may be generous. I don't want to save too much money if I am going to kick the bucket at 80. That leaves me only 15 years after retirement. My Father will probably be the biggest indicator so let's see how that goes. He is going to retire soon. My Wife doesn't need my income to survive. She will get double social security from the U.S. and Japan which should be about 2k minimum per month in today's dollars.
That being said it looks like in an optimal scenario of living to age 90 at best I'm going to have about 3k per month between 401k at 4% annually and SS# payments. I don't plan on retiring in the U.S. so this should be more than enough to live like a King for my final years.
Just remember, Medicaid is pretty bad stuff. Visit a Medicaid acute care facility some time. In your 70's a lot of stuff happens. With Medicaid your choices are few. My neighbor is on Medicaid and just said the heck with it. His blood sugar is 200 and his BP is 170/something. He says he'll just live with it. Cut his hand once and and was totally freaked out at where he had to go to get a few stitches.
So far, Medicare is just fine for $250 - 300/month and you can go anywhere. Just saying.
Last edited by TwinbrookNine; 03-01-2018 at 11:44 PM..
Who knows what will happen that far in the future, but there are ways to work around some restrictions. Some couples even divorce to be able to get benefits, then they just keep living together. I found this article as an example:
Mentioned in the article is a lawyer saying you can spend down money, etc.
If you were to divorce, I wonder if you would then both be eligible for Medi-Cal?
And if you ended up with a bunch of medical bills, you can always file bankruptcy. And if you end up poor, unless things change, there is subsidized housing.
I live on about $900/month. I have Section 8 housing in a subsidized senior place, and my rent is 32% of my income - about $300. After I pay for electricity, insurance (auto, renters), internet and rent, I have about $500 left. I live simply and I get by. I am on Medi-Cal with no co-pays, so my healthcare, for now, is free. I do okay, but it's hard to save for emergencies. It seems like every time I get ahead by $500 or so, I get an unexpected bill for $500 LOL. Just spent $400 on my truck. I need to buy an air conditioner, which is $400 that I hope to be able to buy before it gets hot - that is, if there is no other emergency before then. I'm always praying my dog doesn't get sick. I use the foodbank to augment groceries I buy. I use the library. I eat at home.
Bottom line, though, is if you don't go out much, at least for anything that isn't free, you can do okay on very little.
Anyway, I think you should talk to an attorney who understand elder law, and/or trusts, etc. Seems to me there should be lots of ways around any problems.
I got a raise when I took my ex's ss, just a few hundred more, but it helps. But its still a very very lean budget. What helps is I found this house which was cheap and liveable in an area with very low cost of living. I have enough for food purchases (just over the line for food stamps and such) and can feed my hobbies and find things to do. I am growing more bored without the things I really like to do for fun. But I keep thinking, maybe.... but I'd never find my house in one of those place for what it cost here.
I find I really LOVE a small house, one which could qualify as a big tiny house. I multipurpose areas, keeping stuff used often in the corner here where the laptop lives. It's got computer stuff, stitching stuff and music stuff. I'm going to put in shelves to sort it out better. Not so neat now, and maybe never, but I don't want a LOT of 'space'.
My son and I agreed that when its time I'll move in with them, like my dil's mother does, and sometimes I like that idea sooner. But then I LOVE the being by myself and making all the decisions for me and the fourlegged crew.
You learn to cherish the good things, and see the ones you miss as something you will find a way. But at the end of the month I usually have some left.
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