Worried I'll Have Enough Money In Retirement

Discussion in 'Money & Finances' started by Kitty Carmel, May 30, 2017.

  1. Kitty Carmel

    Kitty Carmel Well-Known Member
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    Did anyone worry about this? Without details. Just wondering.
     
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  2. Frank Sanoica

    Frank Sanoica Very Well-Known Member
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    @Kitty Carmel
    Why, Hell, Yes! I hated the direction Bill Clinton drove our country in to so much, that in 1999, 6 years before S/S eligibility, I dropped us both out of the system, vowing to never again pay one cent of income tax. Rough going, it was, and given an opportunity in 2002, I taught high school math one year, but that was all. I got S/S in 2004. It helped, but was not enough. We raised a lot of food ourselves. When my wife turned 62 in 2013, we were able to "turn the tables" on the bastards that had stolen money from our paychecks all those years, ostensibly putting it in the S/S fund for our use in retirement, and she got her monthly stipend.

    Then, Obamacare squeezed her into that group required to participate, which she did. She cost the Feds about $15,000 the two years she was "in", and now is under Medicare.

    Folks, our country's medical system as well as it's retirement system, is FU*KED UP, beyond any arguable doubt.
    Frank
     
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  3. Holly Saunders

    Holly Saunders Veteran Member
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    Yep me.... !! I\'m just about getting ready to retire... but I've been holding it off for the last few months simply because I fear that I won't have enough money to live comfortably.

    Now when i say comfortably, that of course is all relative, but for me it's living close to the way I've been used to while working.

    I'm not afraid to cut my cloth a little bit but I don't want to be in the position where the cloth for my back is unobtainable... so for now with the retirement I procrastinate...and with genuine fear of the financial unknown for the future..
     
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  4. Cody Fousnaugh

    Cody Fousnaugh Very Well-Known Member
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    Sorry, Frank, but you should have said "messed up". Us folks become members of this forum so we don't have to see words like that, that can be/are in other forums. I know you are upset, but..........
     
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  5. Chrissy Cross

    Chrissy Cross Veteran Member
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    No, I was never worried...even when my husband died when I was only 53 and had no job and some life ins but not enough to last me til I got widows benefits at 60 or 62...forgot the age.

    Somehow, something always happens and I'm just fine. When my money ran out I had a significant other who helped me with finances and also got me the best high paying job ever and I was a stay at home with no job skills.

    Things just work out for me and always have.
     
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    Last edited: May 31, 2017
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  6. Cody Fousnaugh

    Cody Fousnaugh Very Well-Known Member
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    I know two couples who don't have much of a financial problem living after retirement. Neither complain. Both have pensions, SS and some other income.

    But, when wife retires, we will be basically living on SS and savings. We know, without a doubt, we will have a lifestyle change, but that's just the way it will be.That is why we decided to stay here for yet another year, even though both of us dislike living here.
     
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  7. Harry Havens

    Harry Havens Well-Known Member
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    Yes and still do... just not as much.
     
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  8. Cody Fousnaugh

    Cody Fousnaugh Very Well-Known Member
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    Actually, it really depends on the lifestyle a person, or couple, has before retirement. Some have a fairly lavish lifestyle before retirement due to income. They have a very nice house/furnishings, go on cruises and nice vacations and plainly live the "good life". Other folks, before retirement, have a much slower and less expensive one, but still a nice income.

    Some folks stay on one job for years and get a nice Pension from it and the highest SS a person can get. If that person is with someone who has the same, the retirement income can be tremendous. We know once couple just like that and they would never complain about finances. Both are fully retired and do "live the good life".

    Often health problems will get in the way of that "good life" and that retirement income will quickly diminish and/or the exciting lifestyle will come to a halt.
     
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  9. Babs Hunt

    Babs Hunt Veteran Member
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    It is a concern of mine at times, but for the most part as a Christian I believe that our real Provider is God and He has promised to provide us with our needs....and for the 66 years I'm been living on this earth He has been faithful in doing this. So when I do feel a concern in this area I turn it over to our heavenly Father and trust Him to keep meeting our needs as He always has.
     
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  10. Chrissy Cross

    Chrissy Cross Veteran Member
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    But he doesn't provide for all Christians...many are homeless, etc.

    I'm not a praying type of person but my life has been pretty cushy....I think my God knows my heart. :)
     
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  11. Tim Burr

    Tim Burr Well-Known Member
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    Wife and I know that things will change when we finally retire fully.

    Right now we both enjoy working part-time, but that can't go on forever.
    Like many, we did as much planning as we could for the future.

    It's normal to wonder if you've socked away enough to sustain your lifestyle.
    If it is one thing I know, our generation is pretty good at adapting to change.

    Concern and watchfulness about the future is one thing.

    All consuming Worry is another.

    Enjoy the part that you can control.:)
     
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  12. Cody Fousnaugh

    Cody Fousnaugh Very Well-Known Member
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    Would have to agree with this also (in red).

    Before meeting my wife, my life and finances were pretty much just "ok". After we met, got engaged and started sharing finances, both of our lives improved.........mine for sure.
     
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  13. Martin Alonzo

    Martin Alonzo Very Well-Known Member
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    I had planned my retirement and thought I would have enough money so I planned to sail the Caribbean which does at that time not require a lot of money. Just a good boat and lots of time but as I found out the countries wanted more and more money for entry and exit along with having to pay for anchoring. My pension was not increasing it was staying the same. I finally realized that going back to Canada I would have to go back to work because my pension would not be enough. The country where I was at the time allowed me to live very comfortably on the money so that’s where I made my new home.
     
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  14. Kitty Carmel

    Kitty Carmel Well-Known Member
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    I tend to be a worrier. And things really don't work out for me. My idea of buying a mobile in a park worries me. Will I have enough for repairs in the future? I wish I had bought a condo but they are now out of my price range in this area. In fact they want way too much for them compared to stand alone houses. Probably because there aren't that many of them.

    My biggest fear is some scary apartment when I'm retired. I want a safe place and a place I can have my cats.

    Having travel money, entertainment. Those things I don't care about. (at least I should say, I know I won't have money for them) Safety, enough to eat and providing for the cats is what I worry about.

    Thanks for your replies. It can get scary with only savings and social security in the future.
     
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  15. Missy Lee

    Missy Lee Well-Known Member
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    Canada does have an excellent retirement safety net where you can live comfortable as long as you don't plan on taking a few luxury cruises every year.

    We got rid of the house with the mortgage attached, downsized to a nice mobile and have enough to be worry free.

    Needs are simpler now.
     
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  16. Kitty Carmel

    Kitty Carmel Well-Known Member
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    That's nice to know you are in a mobile. Have you had a lot of repairs? I seemed to put a lot into that house I owned for 7 1/2 years only to be unhappy there and leave everything. Nothing was for silly updates either. It was windows, new heat and air. Need things. House painted.
     
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  17. Cody Fousnaugh

    Cody Fousnaugh Very Well-Known Member
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    I would think it would be pretty surprising how many people retiring today have to retire pretty much only on SS. It sure would be a tough way to live!
     
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  18. Holly Saunders

    Holly Saunders Veteran Member
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    There seems to be a lot of people living on an extremely low income...ss or disability benefits alone.... must be terrifying..what happens when these people get ill with arthritis, or dementia... ?






     
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  19. Ken Anderson

    Ken Anderson Veteran Member
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    I'm glad that I'm not fully retired but I could survive on my Social Security. I wouldn't be able to travel as we do now, or buy just whatever I want to, but my house and land are paid for, taxes aren't all that high, and seniors get a discount on property taxes. Winters would be tough, especially if oil prices go back up, but there are programs available for free oil that we have not been availing ourselves of. If I had a mortgage or if I were renting, it would be difficult.
     
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  20. Holly Saunders

    Holly Saunders Veteran Member
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    Another homeless video... tent city...

     
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  21. Chrissy Cross

    Chrissy Cross Veteran Member
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    The USA is not the only country with homeless people...what do they do in London if the homeless get dementia or arthritis?
    Probably the same here. We have shelters, just some people won't go them. They're also eligible for Medicaid but most don't seek help. You can't force them..


    I found this on homelessness in London...

    https://www.theguardian.com/cities/2017/jan/06/what-learned-sleeping-rough-london
     
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  22. Chrissy Cross

    Chrissy Cross Veteran Member
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    I know I could survive on my widows benefits, I'd just have to move to a cheaper state.
     
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  23. Holly Saunders

    Holly Saunders Veteran Member
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    I wasn't inferring that the USA was the only place with homeless people...there are homeless people world wide, but I believed that the Op is in the USA so it's more relevant to point out that there are a rising number of people who have become homeless who have worked all their lives probably...and she's not to feel so alone in her concern for her future and realise that she has support out there...


    Giving links to London's homeless isn't very helpful to her at all is it?
     
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  24. Chrissy Cross

    Chrissy Cross Veteran Member
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    I don't think Kitty needs to live in her car, which isn't legal everywhere, there are Laws as to where it can be parked and for how long, etc
    Worrying about making ends meet when you retire does not mean you'll be living in your car or tent city! Kitty also said she wants a safe place...a car is a very unsafe place to live...people have been killed and raped.

    While I was looking at homelessness, I saw that many don't collect their ss or disability checks. Even if you're homeless you can still get it....usually.

    https://la.curbed.com/2017/2/6/1452...eep-overnight-illegal-los-angeles-enforcement
     
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    Last edited: May 31, 2017
  25. Cody Fousnaugh

    Cody Fousnaugh Very Well-Known Member
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    It's really shocking how many people don't want help and become homeless. Either families won't offer help or these people will turn down their help.

    When I was homeless, living out of a small truck in a church parking lot (the Pastor allowed some homeless to be in), I was unemployed. I had enough money for some gas for the truck and to rent a P.O. Box at a Post Office down the street from the church. My unemployment check went there. I ended getting enough money for a weekly motel room and got another job. I survived!
     
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