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I don't know what all the hoopla is about. I live on SS alone. I've worked my tail off since I was 17. I'm single so I only have one not very large SS check every month. I did save some, and had a 401K but not a large amount of money in it. That money is for emergencies and traveling a little if I want to do that.
I retired about 6 months before I was 62. My only focus is to enjoy life now. I don't ask for anything from anyone. I moved to a nice little town and bought a nice little inexpensive house, at least from my perspective. My cost of living is probably half of what it used to be when I was working. I've made some new friends, and stay as busy as I want to be.
I'm able to pay my bills, buy food, go out to eat once in a while only on my SS. Honestly, I was never this stress free or happy when I was working. What am I missing?
You are not missing a thing....sounds like a wonderful life.!
I absolutely agree with you, and that is the whole reason why I started this thread! But I was responding to "fyigm" - I just explained how "igm", and how anyone who wants the same can do the same (rather than me telling anyone "fy" :-).
But of course, people do not have to do anything remotely close to what I did, and can still have a great retirement, because much less $ than I happened to earn (as a side effect of my extreme effort to simply stay alive in a bad war/immigration situation) is needed for a comfortable retirement. I think Marino has really hit the sweet spot, and it seems you have done it yourself too - which is NOT that difficult for anyone born in the US.
I already said happy Txg in the Txg thread (please also refer to it if interested in shooting your own turkey - you can get a hunting permit for that in Massachusetts).
You may want to do some research on turkey hunting - even in MA.
There are 70 million people receiving welfare in the US - is every 5th person in the US really so crippled that they can't support themselves by working?
Absolutely not. And if the government would make more of an effort to put an end to the fraud and abuse, and support efforts to get people back into the workforce, we'd all be better off for it. I don't know how we've gotten to a point where being a useful, productive member of society is somehow asking too much, and where expecting people to contribute to their own well-being (to whatever extent they are capable) is somehow considered callous and lacking empathy.
You may want to do some research on turkey hunting - even in MA.
No, not really interested in hunting (or even actually eating a turkey). But the article which I linked in the Happy Txg thread says in hunting season in MA you can shoot grownup male turkeys and bearded females (whatever that is). Probably not in Boston where you could shoot someone else by accident.
Absolutely not. And if the government would make more of an effort to put an end to the fraud and abuse, and support efforts to get people back into the workforce, we'd all be better off for it. I don't know how we've gotten to a point where being a useful, productive member of society is somehow asking too much, and where expecting people to contribute to their own well-being (to whatever extent they are capable) is somehow considered callous and lacking empathy.
It seems that inexpensive housing needs to be #1 on the list. My SIL gets by on SSI (although she thinks it is SSDI) by living in a Low Income (i.e. subsidized) Senior Apartment Complex rather than a standard apartment complex.
But openings in such complexes are difficult to find. Even Mobile Home Parks have monthly lot rents in excess of $500/month. Additional fees if you have a pet, a small storage shed, need to rent a larger off-site storage unit, have a non-related roommate. Fines if the grass is too long, your shed or porch needs painting, a windstorm loosens a piece of skirting, etc., etc., etc.
Bear in mind that Federal SSI only pays ~$941 per month! Subtract rent, utilities, food, and medicine from that amount. Where does the money come from for clothing, telephone service, transportation, gifts? Fortunately my SIS lives in Michigan which provides a ~$360/month supplement to the Federal amount, but it is still a painfully frugal existence.
Yes, painfully frugal existence.
According to Social Security:
Quote:
Payments under SSI began in January 1974, with 3.2 million persons receiving federally administered payments. By December 1974, this number had risen to nearly 4 million and remained at about that level until the mid-1980s, then rose steadily, reaching nearly 6 million in 1993 and 7 million by the end of 2004. As of December 2020, the number of recipients was about 8.0 million. Of this total, 4.6 million were between the ages of 18 and 64, 2.3 million were aged 65 or older, and 1.1 million were under age 18.
While SSI is administered by Social Security, it is funded out of general tax revenues from the Treasury (e.g., personal income taxes, corporate income taxes, excise taxes) rather than from payroll taxes.
Just as with SSDI, there is fraud in the SSI system. I'm not sure how you root out the fraud while providing benefits to those who are truly needy. With over 8 million current recipients, I'd like to see a cap put into place at a lower number and with higher transfer payments to each. But only the most needy among us should get it.
I'm not sure why disabled people get SSI; it seems to me they should get SSDI rather than SSI.
I didn't do any of those things. When I was working I spent my money on myself and traveling. I had a blast with my earnings, didn't save a cent. Now I'm retired and very comfortable with a combined income consisting of 3 pensions. A person doesn't have to work their entire life saving, investing, amassing sufficient wealth when tomorrow is not guaranteed. Have fun spending your money today.
Sounds like me only I'm not retired, though as I've stated in other threads that I classify myself as having been semi-retired my entire life. I believe in living for the moment and have never had any sort of long term plan, and still don't. Whatever happens, happens.
Scrimp and save and toil at soul-crushing jobs for decades so I can maybe finally have the time to "do nothing", or travel or take on random endeavors, when I'm old and my body starts failing? Doesn't make sense to me. I've already been doing those things along the way while in the prime of good health.
Absolutely not. And if the government would make more of an effort to put an end to the fraud and abuse, and support efforts to get people back into the workforce, we'd all be better off for it. I don't know how we've gotten to a point where being a useful, productive member of society is somehow asking too much, and where expecting people to contribute to their own well-being (to whatever extent they are capable) is somehow considered callous and lacking empathy.
We got here by creating a society of entitlement. Everybody participates, everybody gets a trophy, you don't have to work hard for anything. That's how we got here.
As a civilized society, we have an obligation to care for those that can't care for themselves, for all the others, get a job.
Yet, I'm still worried, solely because I'm single with no children and I am fixated on having enough money to "buy" quality, dignified personal care when I can no longer take care of myself. The stories I've heard about nursing home abuses scare me, and there doesn't seem to be a lack of predators waiting to take advantage of diminished seniors. It's not today I'm concerned about. It's 25-30 years from now.
No, not really interested in hunting (or even actually eating a turkey). But the article which I linked in the Happy Txg thread says in hunting season in MA you can shoot grownup male turkeys and bearded females (whatever that is). Probably not in Boston where you could shoot someone else by accident.
And you are taking this article as what?
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