Reply to What happens to people who saved nothing for retirement?

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[quote=Anonymous]This is my parents. They live off their SS and my mom's meager 401k. My dad always had blue collar jobs without any benefits or 401k matching. My mom always had office jobs for insurance and 401k matching, but she never got to max out the matching potential because we were a paycheck-to-paycheck family.

They were never able to buy a house so they still pay rent. They left the NOVA area this past spring when their 1 bedroom apartment rent jumped to $2175. I think my mom gets around $1600/mo and my dad around $1100/mo in SS. They owe back taxes too so some of the SS money gets pulled automatically each month to pay towards taxes.

They now live in Southern VA in a lower COL area. The apartment they rent now is 2 bedrooms for $800-something/month. They are much happier down there. I wish I could have afforded to keep them in this area because all of my dad's doctors up here are amazing, but it is what it is. My therapist helped me realize that if I didn't put myself first thing I'd end up in the same place as them in the future. I needed to break the cycle. It's very hard.   [/quote]

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