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AARP is always saying more and more people are retiring & have nothing but social security to live on.
I"m wondering how true that is and if it is true - how are you making ends meet when housing costs would have to be more then half the monthly social security max?
Subsidized housing is the key. I think the rent charged is income-based and can't be more than 30% of your net income.
I have a friend who lives in a cute little subsidized apartment. She lives in a small town in western Colorado, close to her son, grandkids, and great-grandkids. She makes a little extra money buying dolls at thrift stores, then making outfits for them and selling them on ebay. She gets by just fine.
I have three acquaintances (all women) who are have no other retirement income (no investments, pensions, retirement savings, etc.) except social security. They are all quite poor, two of them work (a front desk greeter, the other does phone customer service support for a dubious product). They all share housing with at least one other person, all are tenants. The one who does not work is really too old to work (in her early 90s) -she's starting to show some cognitive limitations- but is allowed to live in the apartment she shares for free. One of them still has a car, but it's a beater and there won't be money for any significant repair if/when needed. These three women don't have children or relatives who help them out financially, at least as far as I know, but it seems like there would have to be support from somewhere at the point they are unable to work at all.
I will say, they never seem unhappy to me. All are fairly healthy, social, engaged with their church. I think they accept what is and do the best they can. I appreciate the attitude but would be quite scared, I think, if I was living so precariously.
I think it's true that a lot of seniors just have social security.
We sold our house and bought a mobile home in a retirement community, it's a nice place where you own your land and it looks like a regular neighborhood. We used the money from the sell of our home to pay off our car and paid cash for the mobile home. We planned it this way because we lost our investments in 2008, we needed a plan B to survive.
We're very happy and love it here. We live totally on our social security and while we aren't rich we do okay. We shop at the farmers market once a week for fresh organic fruits and veggies, eggs, cheese, pasture raised beef, chicken and fresh seafood. We don't need a lot and we're pretty frugal. We can go to the beach because it's close, each day is a vacation. We read, watch a little TV, play cards, work a puzzle now and then, get together with others, BBQ's, Potlucks, Church, we go to Free concerts, movies on the lighthouse etc...In other words there is plenty to keep you busy and most of the activities we do are free. No we don't take trips or go on cruises but like I said, we're happy. We just decided where our priorities were. Money and things mean nothing to us, life and love is what matters. I almost lost my husband a while back, it made us both see things in a different light.
AARP is always saying more and more people are retiring & have nothing but social security to live on.
I"m wondering how true that is and if it is true - how are you making ends meet when housing costs would have to be more then half the monthly social security max?
Our housing costs are 900/year. We have no mortgage and 900/yr is our property tax.
The way people make it is to plan far in advance.
It's very true for me. I get now about $716/month. I am blessed in that I now have Section 8, so my rent is 32% of my income, so around $223/month. So far, they haven't raised the rent since the new monthly amount of rent was started.
As far as how to make ends meet? One of the things that really helps me is that my local electricy provider, PG&E, has a low income discount of around 30%. Plus, there is a federally funded (so far) program called CARE, which gives me a deposit toward my account every year, up to a certain amount - usually around $350/year.
I can also go get free food twice a month, depending on my ability to get there via public transporation, and do I have a cart I can haul all that stuff on the bus with, etc., etc.
Point being, just that people with low income options can still benefit from an apartment building. Just being in proximity of a safe area really helps.
AARP is always saying more and more people are retiring & have nothing but social security to live on.
I"m wondering how true that is and if it is true - how are you making ends meet when housing costs would have to be more then half the monthly social security max?
it would be hard to compare . different areas may have different programs for low income seniors .
so in essence aarp would not be comparing living on just ss.
here seniors can qualify for low income subsidized housing , discounted utilities , if you are rent stabilized and qualify , you can get scrie and never see another rent increase ever . many seniors work off the books too .
do you have some seniors in some area's who don't get a thing ? sure but then you really can't compare them to many who do in something like aarps articles .
living on just ss can have many different forms of subsidies that go with it ranging from lots of perks worth money to nothing .
For the past decade in US, I've lived on amid-range SS income, under 1400. Lived alone, 1br apartment, modest but not slummy. Full price, no government assistance. No car. Have a little inheritance, which Ive never touched.
Besides living well enough, I've flown in the last 5 years around the world twice, to 30 countries on every continent. Two basic tips: Learn to cook, and use thrift shops for clothes and furniture.
Then two years ago, I remarried in the Philippines, and we live like royalty.
Don't let anyone tell you it can't be done, just because they can't do it.
Also note that there is a wide range of $$ while 'Living on SS alone'. SS ranges from almost nothing, to $88632 per year for dual high earners taking SS at age 70. Most don't earn that much, but it is possible.
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