Retirement approaches...maybe.

[JB 883]

I gotta say this about people retiring or planning on it -

sometimes they are trying to calculate their retirement savings but their obstacles include - paying off a divorce settlement or two, paying off a house, credit cards, putting their two or three kids through some fancy college, trying to buy a new car...

I think, Just how much were they making in the first place?! Everyone always acts like they do not have a pot to piss in yet some people are high six/low seven figures in the hole from above things, trying to maintain everyday expenses, AND they are saving money?

 

Sirius -

All that sounds like great advice! But, it is also like explaining a Thanksgiving dinner recipe to some starving family in Ethiopia. 

 

Well like, socking away $1,000 a month right now isn't quite possible as that is just about what I bring home. Of course the GOVT thinks I am rich. I buy brand name hot dogs!

I do not have any assets except an older car that would probably bring $1,000. But then I would not have a way around.

 

I do have a room mate in this house that I "rent" but do not own. Breaking even there. Did you know the fastest way to cause someone to lose their job is to take them into your home to live? It is like the same week they move in, somehow they lose their job. Kind of like how loaning money to someone causes them to have amnesia.

 

You know how some people sell off their stuff to try to raise money to retire or whatever? Used stuff, heirlooms, antiques etc doesn't bring in NEARLY the cash people think it will AND they are out the things they enjoy. What I have in the way of "things" ain't worth squat and I am sure not going to deprive myself of it just to make a few bucks that would soon be spent on some unexpected B.S. that life always throws our way.

 

So tell me more about living down by the river?

[Sirius]

It sounds like you're right at or below the poverty line.  That being $15K/year.

 

I would recommend visiting www.ssa.gov and signing up for their online account (its free).

 

Once you have an account, sign in and they can tell you, with some precision, exacty

how much you will get from SS when you reach the age of 62, 67, or 70.

 

Once you know what you will get from SS you can start formulating a plan to supplement

your income.

 

Incidentally, if you were married for more then ten years, divorced, and have not remarried

you may be eligible for benefits based on your ex-spouses income record.  Might be worth

looking into.