58 and no savings and no pension

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
There are people who move out of the country and retire. Belize and Mexico have large ex pat retire coms. They can live nicely on ss.


That should be illegal or at least COLA for the area. What a horrible thing to do you asshole.

They disallowed this for Australian scum bags trying to live on welfare and SS in bali.

Why would that be you fuckhead? The person paid into ss all their lives.

Yeah but they will be getting more out then they paid. duh.

Ah. So people who worked their whole lives in Manhattan should not be allowed to move to East Jesus, Nebraska, because they would be getting more value for their SS? Makes perfect sense. Let's eradicate the snowbirds!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
There are people who move out of the country and retire. Belize and Mexico have large ex pat retire coms. They can live nicely on ss.


That should be illegal or at least COLA for the area. What a horrible thing to do you asshole.

They disallowed this for Australian scum bags trying to live on welfare and SS in bali.

Why would that be you fuckhead? The person paid into ss all their lives.

Yeah but they will be getting more out then they paid. duh.

Ah. So people who worked their whole lives in Manhattan should not be allowed to move to East Jesus, Nebraska, because they would be getting more value for their SS? Makes perfect sense. Let's eradicate the snowbirds!

If the government is subsidizing people with tax dollars they shouldn't allowed to flee the country and spend it somewhere else.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
There are people who move out of the country and retire. Belize and Mexico have large ex pat retire coms. They can live nicely on ss.


That should be illegal or at least COLA for the area. What a horrible thing to do you asshole.

They disallowed this for Australian scum bags trying to live on welfare and SS in bali.

Why would that be you fuckhead? The person paid into ss all their lives.

Yeah but they will be getting more out then they paid. duh.

Ah. So people who worked their whole lives in Manhattan should not be allowed to move to East Jesus, Nebraska, because they would be getting more value for their SS? Makes perfect sense. Let's eradicate the snowbirds!

If the government is subsidizing people with tax dollars they shouldn't allowed to flee the country and spend it somewhere else.

They're not subsidizing you crazy crazy cow. YOU PAY IN to SS.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
There are people who move out of the country and retire. Belize and Mexico have large ex pat retire coms. They can live nicely on ss.


That should be illegal or at least COLA for the area. What a horrible thing to do you asshole.

They disallowed this for Australian scum bags trying to live on welfare and SS in bali.

Why would that be you fuckhead? The person paid into ss all their lives.

Yeah but they will be getting more out then they paid. duh.

Ah. So people who worked their whole lives in Manhattan should not be allowed to move to East Jesus, Nebraska, because they would be getting more value for their SS? Makes perfect sense. Let's eradicate the snowbirds!

If the government is subsidizing people with tax dollars they shouldn't allowed to flee the country and spend it somewhere else.

They're not subsidizing you crazy crazy cow. YOU PAY IN to SS.

I'm not the crazy cow.... but in practical terms, SS seems pretty unsustainable in its current form. I would imagine that, in some way, the government will have to subsidize future payments or drastically alter its amount/structure. That said, I still dont see why someone should have to stay in the US to get it. Reductio ad absurdum - all foreigners who come to the US should be entitled to it, because, hey, they live in the US.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
There are people who move out of the country and retire. Belize and Mexico have large ex pat retire coms. They can live nicely on ss.


That should be illegal or at least COLA for the area. What a horrible thing to do you asshole.

They disallowed this for Australian scum bags trying to live on welfare and SS in bali.

Why would that be you fuckhead? The person paid into ss all their lives.

Yeah but they will be getting more out then they paid. duh.

what do you mean they will be getting more out than they paid? I am not sure how this relates to where you live in retirement.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
There are people who move out of the country and retire. Belize and Mexico have large ex pat retire coms. They can live nicely on ss.


That should be illegal or at least COLA for the area. What a horrible thing to do you asshole.

They disallowed this for Australian scum bags trying to live on welfare and SS in bali.

Why would that be you fuckhead? The person paid into ss all their lives.

Yeah but they will be getting more out then they paid. duh.

Ah. So people who worked their whole lives in Manhattan should not be allowed to move to East Jesus, Nebraska, because they would be getting more value for their SS? Makes perfect sense. Let's eradicate the snowbirds!

If the government is subsidizing people with tax dollars they shouldn't allowed to flee the country and spend it somewhere else.

Actually, if they "flee" and spend their SS $ somewhere else, like Mexico, they probably won't be taking advantage of the many other government-subsidized programs for seniors. Medicare, for example. And discount bus passes. Having our seniors move abroad will actually save us money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Get a government job asap for the retirement. You can owe the IRS and work for the feds as long as you are in a payment plan. After 6 years, you are entitled to a retirement with the feds. If you worked till 70, you might get about 10% or so of your pay for the rest of your life, plus SSA. It's better than nothing.

It won't really help. Most Fed jobs now are no longer on CSRS or CSRS-offset, but are now FERS, which is essentially a glorified 401K program. Yes, there are some additional basic benefits to FERS, but not enough to help a late employee. The basic benefits are 1% per year of service of your average of the three highest salaries in your career. So, let's say this employee starts as a civil service at 59 and retires at 67. If he made $100K average, then his annual dispensation from FERS benefts will be $8K annually. And the FERS basic benefits are counted against SS, so that means that he'll get $8K but will get $8K less Social Security. If your FERS payment is higher than your SS payment, than you earn all of your SS payment and FERS will cover the balance of your retirement payout above SS. So the basic benefit will not increase his monthly income. The only difference will be where the money comes from. And then he'll have the TSP (which is the 401K part of the plan) on top of that. Not really different than if he starts a 401K or IRA now and makes pre-tax deposits to the account.

I don't think this is true (that FERS annuity counts against your SS). Sure if you retire before full SS retirement age (67/68 or so, depending on your generation), but that would be the same for any outside job/income.

[Anonymous]

Anonymous wrote:There's not enough information here on OP's finances and situation to provide any useful practical advice. And I understand the reluctance to yank a teen out of school. The rest of his/her life will be decided in large part over choices made in these next three years.

OP here. Thank you for intuitive remarks. And what a difference 12 hours makes! DC's school gently berated me for not stepping up sooner when things got tough. Pride can be so useless. The school will add financial aid and, fortunately, I asked before acceptance letters went out. Also, I received a call to do a long-term medical project which I can review at home. Thought I was going to break down and cry. Thank you for not calling me crazy and saying I would be baggage to my child some day. I think I can see a tiny light at the end of the tunnel!

[Anonymous]

Anonymous wrote:

Get a government job asap for the retirement. You can owe the IRS and work for the feds as long as you are in a payment plan. After 6 years, you are entitled to a retirement with the feds. If you worked till 70, you might get about 10% or so of your pay for the rest of your life, plus SSA. It's better than nothing.

Would not count on the feds having a pension option in a few years. The political wind is blowing hard against it.

Seriously! Until I read this thread, I had no idea feds could retire after 6 years?! If so, no wonder the political wind is blowing against it. How about a hurricane?!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Get a government job asap for the retirement. You can owe the IRS and work for the feds as long as you are in a payment plan. After 6 years, you are entitled to a retirement with the feds. If you worked till 70, you might get about 10% or so of your pay for the rest of your life, plus SSA. It's better than nothing.

Would not count on the feds having a pension option in a few years. The political wind is blowing hard against it.

Seriously! Until I read this thread, I had no idea feds could retire after 6 years?! If so, no wonder the political wind is blowing against it. How about a hurricane?!

you can't retire afte working onlyr 6 years (unless you are retirement age). you become vested after 6 years with the federal government and can get a small amount out of the pension when you do retire. the amount goes up the longer you are with the federal government.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Get a government job asap for the retirement. You can owe the IRS and work for the feds as long as you are in a payment plan. After 6 years, you are entitled to a retirement with the feds. If you worked till 70, you might get about 10% or so of your pay for the rest of your life, plus SSA. It's better than nothing.

Would not count on the feds having a pension option in a few years. The political wind is blowing hard against it.

Seriously! Until I read this thread, I had no idea feds could retire after 6 years?! If so, no wonder the political wind is blowing against it. How about a hurricane?!

you can't retire afte working onlyr 6 years (unless you are retirement age). you become vested after 6 years with the federal government and can get a small amount out of the pension when you do retire. the amount goes up the longer you are with the federal government.

But the point is fair is it not? Work for 6 years, get something for the rest of your life? Even if its not much that seems like a helluva deal

[Anonymous]

Anonymous wrote:

Anonymous wrote:There's not enough information here on OP's finances and situation to provide any useful practical advice. And I understand the reluctance to yank a teen out of school. The rest of his/her life will be decided in large part over choices made in these next three years.

OP here. Thank you for intuitive remarks. And what a difference 12 hours makes! DC's school gently berated me for not stepping up sooner when things got tough. Pride can be so useless. The school will add financial aid and, fortunately, I asked before acceptance letters went out. Also, I received a call to do a long-term medical project which I can review at home. Thought I was going to break down and cry. Thank you for not calling me crazy and saying I would be baggage to my child some day. I think I can see a tiny light at the end of the tunnel!

I'm going to make myself a nice hot tea and sit in a chair smiling at this.

I'm happy for you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Get a government job asap for the retirement. You can owe the IRS and work for the feds as long as you are in a payment plan. After 6 years, you are entitled to a retirement with the feds. If you worked till 70, you might get about 10% or so of your pay for the rest of your life, plus SSA. It's better than nothing.

Would not count on the feds having a pension option in a few years. The political wind is blowing hard against it.

Seriously! Until I read this thread, I had no idea feds could retire after 6 years?! If so, no wonder the political wind is blowing against it. How about a hurricane?!

you can't retire afte working onlyr 6 years (unless you are retirement age). you become vested after 6 years with the federal government and can get a small amount out of the pension when you do retire. the amount goes up the longer you are with the federal government.

But the point is fair is it not? Work for 6 years, get something for the rest of your life? Even if its not much that seems like a helluva deal

if you only work 6 years - its only like a couple thousand a year. but yes, it is something.

[Anonymous]

Anonymous wrote:I think your 30 year old child will be more crushed when you announce that you have to live with him/her for the next 30 years. Kids are resilient. Put that money into your retirement/debt paydown.

Don't assume.

My mother is 58 as well and she has nothing AND no job prospects because she was a SAHM and got royally screwed in her divorce. My husband and I purchased our home with an in-law suite just for future use by my mom since she does not have a plan.

Family is very high on my list of priorities and I do not see my mom as a burden. She wiped my ass for 18 years and sacrificed everything for her children. The least I can do is make sure she is taken care of. The OP is in a much better situation than my mom, since she can produce income..however in a way she is worse off than my mom because she had kids later in life. By the time my mom might need to live with me, I'll be in my 50s with kids done with college and she will be in her 70s.

Not all of us view our parents as burdensome-my mom is more important to met than having enough disposable income to buy beach house. There are others out there like me who would walk across hot coals for their parents and not think a thing of it. My husband is of the same mindset, but luckily his parents are retired military and the public gets to foot their bills.

[Anonymous]

Anonymous wrote:

Anonymous wrote:There are people who move out of the country and retire. Belize and Mexico have large ex pat retire coms. They can live nicely on ss.

That should be illegal or at least COLA for the area. What a horrible thing to do you asshole.

They disallowed this for Australian scum bags trying to live on welfare and SS in bali.

Prime example that American is hopeless since it is full of so many idiots like this poster. What a fucking imbecile.