My MIL was like this. She and FIL were always working crap jobs and hustles to be just on the edge of poverty. FIL had a severe medical issue, no insurance but worst of all it left him severely disabled, bedridden incapacitated and unable to work. Would have been better if he’d just died. So she was left with huge medical debt plus had to go to work to pay for him plus kids still at home.

He eventually passed, and she had nothing but also by age 55 didn’t have much plan to work either. Would get weird easy temp part time gigs for min wage that might last a few months then she’d be unemployed. She was in a trailer retirement community - which was actually quite nice all things considered. By around 60 she decided she just wasn’t going to work anymore. She had around $800 of social security supplemental income (all previous work was under the table so no credits). I think we got her food stamps. And her kids all chipped in gas, $200 here and there etc. it was frustrating because she’d had a horrid life of hard work and bad luck but at the same time by age 50 or so didn’t seem very concerned about paying her bills or having any source of income. I mean, she lived in Florida where the groceries are full of 65 year old cashiers. They presumably all gad similar lives to hers or they wouldn’t be working still, but she had the idea she didn’t need to work.

They keep working. My boyfriend plans on working until he is 70 to draw his social security at that time with higher rate.

They have to work. Lower paying job than what they used to do.

Anonymous wrote:

Anonymous wrote:I have about $150k and am 46. I will never retire. I'll work until I drop dead.

what if you become physically disabled?

Suicide.

Anonymous wrote:Most of my old friends, now in their 50s, just plan to work until they die or at least as long as they can.

Only the lucky can work until they die. So many become disabled before then.

Anonymous wrote:I have about $150k and am 46. I will never retire. I'll work until I drop dead.

what if you become physically disabled?

I have about $150k and am 46. I will never retire. I'll work until I drop dead.

Most of my old friends, now in their 50s, just plan to work until they die or at least as long as they can.

I have family like this. They live in super low cost of living areas and just live on their social security. Their houses were paid off. One car or they take the bus.

They might get Medicaid; they qualify for food stamps and other programs for the very low income (heating assistance, etc.) They try to get subsidized housing for the elderly; they live in trailer park homes; they keep working if they can; they get meals on wheels and transportation assistance if they can't afford a car...

Social security, subsidized housing, Medicaid, food stamps, maybe part time or cash job.

This is my ILs and they count on us to pay for everything they need … and want.

Anonymous wrote:They live in poverty obviously. BTW many people live that way their whole lives.

This. They live on social security, food stamps, food banks. If lucky, they can live with family.

They live in poverty obviously. BTW many people live that way their whole lives.

Many Americans are in this position, a few in my family too. They have anywhere from very low positive net worth (less than 100k) to negative net worth from CC debt, etc and are rapidly approaching 60.

What happens to them? Do they work until they die? Do they get enough from SS? Some are unmarried with no children.