Rising cost of living forcing some seniors back to work
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- Опубліковано 28 кві 2024
- Ricky Bowman is looking for a job. Any job, but preferably back to painting. At 66 years old, returning to the workforce wasn’t something he thought he’d have to do. But with the rising cost of living many seniors can’t make it on their social security alone.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@HarrisMarie-wl6bl That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@Larissa-Raphaela My advisor is Victoria Carmen Santaella;
You can look her up online
Nah I Can't say I can relate, Victoria Carmen Santaella charge is one-off and pretty reasonable when compared to what I benefit in returns.
People are being priced out of living, deliberately.
Fact
Definitely
💯. DC establishment needs the peasants to remain in drudgery.
I miss the eighties
Yes they are. Well put
I work with a 75 years old at a bakery. She can’t move the pallets with the pallet jack so she asks me to do it for her every time she needs a new stack of baking pans to wash. I don’t mind because she is very nice. But looking at her terrifies me about being old one day
Start investing as young as possible and you need not worry.
@rayr6278 And saving. You always need emergency cash saved so you don't raid your investments prematurely.
Thank you for being kind
Thank you for being kind to the senior. Please save regularly and diligently. Even if it's just 25.00 a paycheck. If you save for 40 years and let it compound or invest it, it will grow. Contribute every year to a Roth so you don't have to worry about taxes when you are old.
Look into dividend investing ASAP.
Try getting hired at 65 yrs old for a job. You won't even get interviews.
I know right?! When I get interviewed they see how old I am and they just trash my resume and I have 40+ years of I.T. experience. I'm 65 also and I was let go 2/8/24 because of slow business. Gratefully I am single and have a modest 401K account compared to what others have. I own my mobile home, but it sits on land that I have to pay lot rent for. At least for now, it's only $275.00 monthly. I consider myself very lucky. I just hope I don't outlive my 401K savings.
@@joefranks4235 Hello Joe, what state is your lot rent only $275?
@@joefranks4235 It's sad to not want to live longer than you have money for. But that's the world we live in today.
I see a lot of older delivery & gig drivers. It’s a bit sad.
Why don't you have enough savings though? People over 65 had more than enough opportunities to stock pile cash. Instead they dumped it all on consumerism; big houses, giant SUVs, dumb gadgets, vacations, etc...I remember how Baby Boomers lived in the 1990s. They lived like there was no tomorrow.
Many of them never worked more than 40 hours a week.
Millennials started off in the job market with the worst economy since the great depression. We've been working 50-85 hour work weeks, multiple jobs, gig work, side hustles, and we still can't afford basic things like food and housing.
At 68 years old and disabled I had to go back to work, be homeless, or move out of the country. I'm still thinking about moving out of my country. A country that has betrayed the Poor, Working Poor, and Senior Citizens, while the Rich keep getting Richer.
You need to show us how it’s done and pick yourself up by your bootstraps, don’t go lazy on us now!!!!!
I understand that times are tough but its really hard to have sympathy for your generation sometimes. You guys grew up with the best economy the world had ever seen at the time. Jobs were plentiful, pay and benefits were great, and the economy was booming yet somehow so many of you managed to waste all your money. My generation and as well as all future generations are staring down the barrel of a gun facing financial sucide everyday.
@billyyakin3301' Everything that is being done to this country is for the benefit of the poor! No need to leave, Get a tan, change your name, or travel to Mexico and just walk back to the US!. Life will be grand for you, no job necessary.
@@Shadow-7773WTF really
I moved
Who is going to give a job to a 66 year old when even young people can't find a job? The world has gone crazy.
If you don’t have multiple family members in-house and multiple streams of income…your screwed
Everything has gone up 25%+ but Social Security gives seniors a 3.2% cost of living raise and says have a nice day.
My company’s annual raise pool has not ever exceeded 3%.
Hey enjoy it well you can, SS will be insolvent years before I can ever collect it but they’ll keep taking it out of my check.
@@chaserohwedder8852 same here
I was told the same thing 30 years ago but am collecting it now. The federal gov will simply print money and inflation will continue.
@@carollynt the system hit a bad spot in the 80s. It was rescued with some changes. One was pulling federal employees into SS. The old CSRS system went away. They also raised the tax rate to 6.2% and the retirement age for full benefits to 67. Expect that those will happen again only worse if the system is to avoid automatic cuts. The rate has increased from 1% all the way to 6.2% in 1990. The ratio of workers to receivers has been growing and will continue as boomers hit 62/67. One change is to not allow early at 62. This is really what should have already happened. Right now the cost benefit ratio is steadily getting worse every year. Boomers will receive far more than they ever contributed while gen X and later will receive less.
Why does everyone think that the US is so great when seniors cannot afford to live in retirement? Being forced to go back to work after retirement is a sign that the country is NOT great.
This administration is putting many families in difficult situations. A lot of people are financially struggling to live, put a roof over their head and put food on the table. Things are getting worse these days, if you don't find means of multiplying your money you might wake up a day to realise you didn't plan well for yourself and family.
That's awesome to hear. I invested 5k in Robin hood about a year ago and it steadily went down, now my portfolio is down to $800. I don't know what to do and i am in between jobs
@@Florencecoxx Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances.
I’m Glad i stumbled on this. Please, if its not too much of a hassle for you, can you drop the details of the expertise that assisted you and how to get in touch.
@@Florencecoxx I get guidance from *Susan Tori Davis* Most likely, the internet should have her basic info..
Wow I can't believe you guys are discussing about Susan Tori Davis, I once met her at a conference in California 2019.
66 ? I was wrong thinking 76.
Stay active as you age folks! The younger you begin exercising the greater your health
And healthy eating 😊
He did seem really old and slow.
I also wondered but maybe he had a stroke in the past. Depending on the area of the brain different things are impaired sadly.
@@bluebell1924good observation. I noticed a difference between the right side of his face vs the left side as well. If he’s a house painter I thought that would be considered semi-skilled labor and make it easier for him to find a job, but I suspect he doesn’t interview well.
@@wannabe41 around me a lot of people hire painters privately to paint their homes. I’m not sure he is physically able to do that job anymore. There’s always work out there
It is terrible, working all your life, and paying taxes, plus paychecks taxed, then being elderly with ailments and cant afford to live securely because of the outrageous inflation in America happening. We of all ages are suffering from the inflation.
SHAME on the USA
Families get all these free bonuses for having a kid but we fail to support our seniors with financial and housing assistance. Hello- they’re retired or disabled by 75! They need help. We should respect our elders. If I was them, I guess I would be on the street!
But but.....the US is extremely rich and able to send so much money to fund so many wars around the globe. What went wrong?
simple, they don't care about you. what george carlin tried to tell ppl 30 years ago.
Nothing went wrong. Society doesn’t like poor folks so they get swept under carpet. On the other hand war is glamorous. Haven’t you seen First Blood.
And give a free ride to illegals
Simple because US is owned by foreign lobby group who controlled corrupt lawmakers
For most folks, there was nothing wrong during most of their life. The problem is they spent everything they made. Plus if this guy is only receiving $1400 a month on SS, then he worked very little during his life. This video is made for all of the cry babies who decided to not plan, save/invest and work for their retirement!
Rent is ridiculous everywhere
I have an idea, instead of thoughts and prayers, let’s tax the rich. Also maybe stop spending all of our tax money on pointless wars abroad.
Tax the rich like Quid pro quo Joe, Hunter (who skips out on paying anyway) and bErNiE ???
Economic illiterate
This
Tax the rich 😂😂 obviously you haven't studied tax how about the government spend LESS?
Where's my bootstraps comments
It's hard to feel bad for Boomers when they screwed over the younger generations so badly.
No no no. Only a boomer can point at your bootstraps. It doesn't work the other way around.
Boomers who bougth a house for $200 and a handshake been so quiet recently
Yeah, if you're an old person who's done everything right, yet forced out of retirement, it makes it pretty clear how horrible the economy has gotten.
Right here. We all just need to pull our bootstrap up and ……..just do it.
The cost of living seems to be increasing every year, making it harder to keep up.
Indeed, it's becoming quite challenging to manage expenses.
@@EricaWaters-lr6zw I've actually managed to stay ahead of the curve. I'm even contemplating early retirement.
@@ScottLarrry Impressive! How did you achieve that?
@@OliverLiam-px3vx Our family got introduced to a financial consultant”RPC WEALTH. LLC” about four years before my dad retired. That was what changed things, and I think my retirement income will be on the right track, luxury cars and trips
Absolutely, RPC WEALTH. LLC” has a knack for analyzing market trends and helping clients make informed decisions.
Where i work we have several people in their late sixties,early seventies,still working,and several who have returned to the work force
It seems the jobs you can get now most treat you like crap and try to make you do the work of 2 and pay very low !?😔🙏
Age discrimination is real for sure. I'm not young- late 50's, but working to make sure I have at least a little put away to draw on each month in addition to Social Security. It wasn't meant to be our only means of survival in old age.
You are a cog in a wheel. A business doesn't care because you are replaceable. A CEO is replaceable.
@@youtubesucks1499CEO’s aren’t paid like they’re replaceable.
@@sharonsparks900 Of course a CEO is replaceable.
A CEO is paid to make money for the stockholders.
Would you pay me 30 million to grow your business by 1 billion in profits?
Of course you would. A CEO is like every other employee, they are there to make money for the business.
@@sharonsparks900 Ps. By the same token if a CEO is not making the money and meeting expectations, they are fired.
In Eastern Europe senior citizens OWN the place they live in in proportion of 95% and they can make it decent because they have no rent or mortgages
At 65 you should own your own house. Lol.
@youtubesucks1499 you never really own anything in this country. Don't pay your property tax for a little while and see what happens.
Even if you paid off your mortgage before you retire you still have to come up with the money to paid property taxes
HOA fee water,trash fee
Electric, food 😢😢
I have seen seniors who can barely walk, working.😢
Their co-workers allow them to take it a little easier because they know what time it is. 😊
Decades of new cars, keeping up with the jones, dinners, vacations. I dont feel bad for anyone old not prepared. Time to take personal accountability
@@thatoneguy94512wow. One illness can wipe out any savings you have. Not everyone has the ability to put money away. I know so many of my friends who have had to go back to work. Let’s see how you are doing in the future
Wow! So no room for personal crises, medical emergencies, or any sudden and unexpected life events.
@edlane1883 did they have an emergency savings (6months of pay set aside)? If not why not? What kind of car did they drive their whole life, what houses, clothes they wore.. can't make a statement without more data
I’m 65, still working, I have a sit down job. I can still get around on my feet however, my left foot is starting to experience some discomfort. My goal is to continue working till I’m 75. I have some investments, plus other plans in the works that I hope will payoff. Probably the worst thing for me would be having to get a job in a warehouse hustling on my feet all day.
Buddy of mine 66, just went back too work few weeks ago,
To work not too work
What's the matter ? In my country we retire at the age of 67.
Imagine that, he wants to go out and "do things". You know, live.....not in America though.
And Social Security doesn't keep up with inflation
Not long after the 2008 GFC I told my family members to watch places like McDonalds and Walmarts and you'll soon see much older people working the jobs teens are today.
people who rented their whole lives are in big trouble...$1400 a month doesnt even cover rent
The American dream is out of reach for many Americans. I'm retire and living in my golden years. As a Baby Boomer, I bought my home early, which benefits me greatly. No one can buy a house at today's prices.
❤❤🇺🇸❤❤
I feel for them.
Disgraceful. Not long ago you were able to work 20-25yrs, retire at 50 and live comfortably on BOTH monthly SS income AND A PENSION. Now Congress is proposing to raise the reitrement age to 70 while the average lifespan is now 76 - why do we keep doing NOTHING ABOUT IT. We need to adopt the French initiative and take to the streets, no'one is coming to help us.
When exactly was this time when you say people were retiring at 50? No such time existed, maybe in isolated cases. Throughout history people worked till they died or retired due to health issues. You must have lived in an alternate universe.
I am glad in Canada, the old age pension benefits almost match the rate of inflation so I manage by being frugal.
Just dont let the conservatives run things, they will take it all away and give it to the rich.
There should be programs with registered seniors who are looking for work. Seniors have amazing skills from a lifetime of work. This featured man is a painter. How many people would rather hire him to come and paint their house than hire a big company that sends a small crew with a big truck for a really high price? There are many skills that do not require permitting or licensing, although many seniors probably still have their license. I'm thinking about a lot of senior women who would take on jobs for $20-$30 hour for housekeeping/cleaning, companion work with disabled, chauffeuring and child care. Many men make great handymen, and they are multi-talented. Private hiring should have more of a presence than relying on fast food or Walmart as the only job options. I would hire a senior before I would hire a 20's something.
The reporter said close to retirement we're already retired and we're having to go back to work
Lets pray for those in need
Yeah, if you want nothing to change.
Don’t underestimate the power of prayers
@@user-xo4xd1vk8z there is no scientific proof that prayers affect anything. The only evidence is that it does give psychological comfort to the individual doing the praying.
you got to have faith.
@@user-xo4xd1vk8zYou need money. Praying isn't going to pay the electricity!
I scrimped and save like CRAZY when I started working RIGHT OUT OF COLLEGE (May 1990). My friends & coworkers called me crazy since I don’t go out with them or buy any new clothing or gadgets! I was ONLY 23…..I was planning to QUIT WORKING AT 33!! I got married and things didn’t go as planned. However my wife was on board with savings. We PAID OUR HOUSE at 35! My wife QUIT WORKING at 47. I FINALLY QUIT WORKING at 49……That was on August 2015. REMEMBER THE STORY ABOUT THE ANTS AND THE GRASSHOPPER?? Be like the ants!!!! 🎉
Until the insurance or housing tax decide to triple. If they can’t get you one way, they’ll get you another
@@evileyez504 ….I bought my 1st house in 1998. After we paid it off in 2003, we found out we don’t need home insurance! Been owning the house WITHOUT INSURANCE since! We would have paid an average of $2,500 per year x 21 years = $60,000 !!! I only have LIABILITY INSURANCE FOR OUR VEHICLES. Here in Houston, Texas our Property tax = $2,300 per year average. Our HOA is $900 a year.
No u didn't
@@droidgunner3840 ….go away , son….Adults talking here.
@@CanTho2022 - If your house burned down today would that 60k pay to rebuild? After 21 years of saving, thats a great amount of cash but what if you didn't have insurance for just 2 years and there was a serious catastrophe in that 2 years? would it have been worth it not to have insurance? Especially in a place that has an HOA. I doubt if they would just let you take money for land and walk away if the place was burnt down. Just things I have wondered about since the insurance situation is getting scary.
Businesses set the prices and raised the price, yet businesses do not give employees pay raise.
Went to Lowe’s last week.
No lines open. An older lady that usually runs the checkout lane, directed me toward a self checkout. I told her I’m not high tech and don’t use those things. She told me “that I’d better get used to it because that’s what it’s coming to. If a 67 yr. Old can do it-you can”
I said ok but what are seniors like yourself gonna do when there’s positions available anymore?
She replied that she “don’t know”. 🤷🏼♂️
Who cares!??? You have need of a new perspective. You’re negative with an I can’t attitude.
And this is the reason for the increased theft, people scan half their items and walk out.
its going to get worse as we enter a great depression that lasts 15 years and social security dries up, we are headed for very tough times.
You need to go to the horse track. It seems you know the future.
@@MoneySavingVideosbased on current events, he’s definitely on point. Why are you scared of the truth?
So their plan is working. We are all slaves.
have they thought about just cutting out coffee and working harder?
in all seriousness, i hate this. this isn’t what we americans were promised
I wonder how many of those people voted for this?
Some people don’t care how ignorant they sound.
It doesn't matter who voted for what. Our government has gone rogue, it doesn't listen to the votes.
@@williamwilson6499 This guy is a double digit IQ moron that goes around posting that comment under videos that have nothing to do with voting.
@@williamwilson6499Well, elections have consequences.
It's very apparent that the Left is intentionally destroying this country with their insane policies.
@Joe-no7gs Joe, I think they are referring to the rising cost of food and rent.
You are spot on about the financial planning.
Anyone who is using SS as sole income is going to be living in their car.
Save in your 401k, IRA. You will need it when you retire.
When your employer gives that as an option, sure
@@ShayKMBRAn IRA is a retirement account that you maintain yourself, genius. That's why it is called a Individual Retirement Account.
😮😢
@@ShayKMBR you can also invest in non retirement accounts. I would recommend you go take a class on investing and retirement. Making excuses, isn’t going to help anyone retire.
@@user-ln7of9gs4s eh, with what? Pay for the class and I'll take it otherwise my plan is to work until I can't and off myself.
Not a homeowner, no kids, never been in debt.
I just want to not be an ugly corpse 🤷🏼♀️
Seniors who are looking for a job, try doing uber and or food delivery.
Yup!! I’ve been doing that for 5 years now. I’m 66. No punching the clock, no crazy bosses, no backstabbing coworkers and very little interaction with anyone. Plus, you only pay taxes on about half of what you earn because of the mileage deduction.
I breed tropical fish I sell at swap meets and flip antiques I pick up at estate sales.
But hey, the U.S.A. has a big military and is taking wars all around the world which don't directly threaten their national security at all.
US needs to support the war because of foreign lobby group whose interest is foreign. Look up aipac
I can see why there are foreigners moving to Asian countries and retire there. It meant for them living a comfortable life and enjoying peace of mind.
the two things that take money away is healthcare and housing... If someone has put 35-40 years of work and taxes, I really feel that they have earned the extra that can be given to them, like food stamps, utilities, healthcare or housing. I really believe that the poverty line should be increased to what makes sense today and pass the You Earned It You Keep It law going around congress.
Why is the taxpayer responsible? You aren't responsible for me. I am not responsible for you.
So why should GenZ be forced to pay for a Boomer because they didn't plan for their retirement?
GenX
@@youtubesucks1499 did you come out of your mother's womb and didn't need anyone to change your diaper? didn't think so...
That’s truly sad that they worked hard all their lives on honest warning, and our government failed them. Our government cares to only support illegal immigrants and not burdening our seniors. They should supplement for folks like Ricky.
Ah yes, let's blame those evil immigrants. It beats the heck out of assuming personal responsibility, doesn't it?
It's not the governments job to take care of you. Ricky had 40+ years to plan for retirement and like many Americans he spent every dime he made and now he's paying the price.
Yes, it's so much easier to blame others than take personal responsibility.
The problem is not going to change until rich white CEOs are put in prison. Rich white CEOs are the ones that are perpetuating this problem. As Long as Americans want low gas prices and low food prices, the situation is going to remain as is. In fact, everything is working exactly as its designed.... There is a book called slavery by another name. It never really ended. Slavery just changed forms. It's a long history book but it's all connected
Even when created, SS was NEVER meant to pay all our bills in our old age. Sorry but in many cases not having at least some retirement savings is unacceptable.
Back to work still working at 68 tired sore
0:40
Do not retire at 62.
He is 66, inflation caught up.
1400/mo at 66
Was ~1175 at 62.
YOLO. "Tomorrow not guaranteed". "Take the money and run".
Wait to 70 so that inflation won't overtake income.
This guy did not work very much to recieve only $1400 a month. He must have spent at least 20 years not working at all.
I would hire him to paint if he lived near me! He should advertise his painting services in his area.
My question is, I know everyone doesn’t have children, but where are your kids? Why are they not helping you? 🤷♂️
And it all just depends on what you did for a living and what job you retired from 🍀 folks
Options, they can move to south East Asian with social security money and live a dignified retirement lifestyle.
They can try TH, VN, MY, PH, Cambodia, Laos
I think I'll end up loving in Mexico
@@apotbosit’s too expensive now
Wtf? Who would want to leave all their family and friends to do that. And loose Medicare on top of that?
you w int lose medicare you will just have to pay out of pocket for Medicare premiums
8$ a box of cereal - guy needs to stop shopping at CVS
So how will this look for us retiring in the next 20 years😩this country needs get grip FAST!!
This is about saving and investing for YOUR future, not blaming it on the government. We all have the option of choice.
@quaithom3138 that is ideal however the reality is a lot of able bodied younger people are hardly able to afford BASIC living expenses, and many are unable to even save for a rainy day let alone a retirement account. And that's just real. Even now, people taking steps to increase their skills and education in an effort to make more income are STILL finding it difficult to make ends meet. So let's not pretend it's always quite this simple. Some of ya'll act like you lack basic understanding .
@@jasminem3902I agree. It’s going to be even harder for millennials and Gen Z. They can’t afford anything now. Imagine 30 years from now
Caring about our future depend on us. Don't expect a president to fix our lives
Wow I mean anyone completely dependent upon social security is going to get screwed, and it's only going to get worse. Why didn't he ever have an IRA or 401k while he was working? This seems like poor planning.
If he had a car, he could do uber or lyft. If he had a computer he could do online work, as well. You can't pay rent on SS, hell, you can barely live in a house that is paid off on SS, especially if repairs are needed. Yes, poor planning was the culprit here.
I don't think he made enough money when working to save. I believe that in any country if you have a low level job and only work one job, you are probably going to be poor and struggle. But it is also true if you are living in the developed world and get a SS check for $1400 based on wages from low level jobs, you are rich compared to similar earners in less developed countries.
@@patpeifer7871
So true, but he might have taken his SS early, which would result in him receiving a lower SS check, as well.
Blessed to be living in India where fresh fruits & vegetables are available in abundance and leafy greens are affordable to even the poor.
You people don't even have toilets
Maybe these seniors should consider relocating to India
You live in squalor mate.
@@joanneburford6364 no i don't. Squalor is in the slums. India does not only comprise slums. It also comprises neat apartment buildings and row houses:) I'm fortunate to not be in the slums--and yet i can partake of the cheap resources. Get it?? Dum dum:)
That's wonderful! I can't wait to have my own place away from the big city. It's fine, as I'm younger and there's so much to explore, but the prices and inconveniences remind me what I'm saving toward.
Baby boom failing to plan. Don't retire until u paid off your house, have no debt and have enough in pension or 401k or Roth Ira. Don't expect to get by on social security and be able to pay rent.
Whats a pension?
@@thatoneguy94512 we don't have that luxury. But that boomer had it
@dachicagoan8185 crazy right? Boomers had highest sustained stock and housing growth for 40 years, pensions and lower cost living and they still couldn't save enough. We have no chance
@@dachicagoan8185 - not all boomers have pensions but most have the opportunity for 401k and if you don't take advantage of saving for 40 years in a 401k or just saving on your own, that's a shame.
Baby boomers who got divorced and lost 1/2 (or in some cases all of their assets.)
How to start a small business:
1. Identify a problem
2. Solve the problem
3. Get paid
4. Refine and repeat
This crisis is worse in Europe.
Why is this a surprise? Keep voting in people that want to change our way of life
It's not who votes that count but who counts those votes.
We are the only responsible to change our ways of life . The goverment don't care about us
This life is hell at this point
Ricky, grocery shop at Aldi.
Get out of Florida. The answer is that easy.
I agree
Same reality in many places
Florida is one of the cheapest places to live.
@@user-zu5do6ri6r if you had money than living everywhere is cheap.
Yup. Also, dude is 66, aren't they talking about increasing the SS retirement age to 70?
Sounds like they didnt pull themselves by ther bootstraps enough.
There's so many bootstraps people might just pull the wrong bootstraps in America, the land of the bootstraps.
@@user-yq7yi3dm8m come on, just keep pulling! I swear it will work eventually!
Mwahahaha
I would rather be in the ground
If you think you will be, then it will happen.
The government has no sense 😒
I’m 63 … retired from real job… haven’t started SS yet
I love to work, and my “boss” is me
Plenty painting jobs out there, 20/25/30 per hour
Landscaping too, same pay
Love getting out and being productive for 25-30 hours a week instead of watching tv or being on your iPad
Work til you're dead culture........
Why ? There’s social security, 401k’s, IRA’s, take responsibility don’t expect a handout
@dantheman6607 Why?? Because most Americans can't afford to put money aside into 401Ks, IRAs, etc. They're just trying to get by day to day with their "pay check to pay check earnings. That's why. And second...this video was in regards to seniors that didn't have all the extra potential of putting money aside. They were expecting that SS would be there source of income into retirement.... social security isn't a "handout" so don't ask why. If you're young, yeah, it makes sense IF you can afford to set aside money with everything costing as much as it does now. Food, housing, ins, etc. Common sense stuff.
@Joe-no7gs That's you. Most all Americans live beyond their means trying to keep up with the Joneses which doesn't leave anything for retirement savings......
$8 for a box of cereal? time to change brands.
Social security was never intended to be your primary income in retirement. People used to get pensions, but now you have to make your own investments. Unfortunately, many seniors did not catch on to the paradigm shift.
Or they lost their investments along the way. The American economy is mostly rigged in favor of rich people. People had pensions, people had excellent health and dental care. All gone now.
That happened LOOOOOOOOONG BEFORE they became seniors!!!
@@traybern Exactly! They weren't paying attention and taking responsibility for future planning. They are now complaining because life doesn't come with an owners manual.
Excuses, excuses. For decades, people didn't earn enough to invest. The whole "people should have planned ahead of time" is moot because financial literacy isn't something most people knew about. Also, if you are injured or ill and couldn't work, what is a person to do? Your views are so myopic it's annoying.
Some people only make enough to pay bills and don’t have money to invest or save.
Never rely on government assistance.
Y? I do.
He actually believed in the American Dream 😂
Lots of people believe in the American dream. That's why there were so many people that wanted to emigrate here.
The American dream is just propaganda.
SMH 😢
@@Here4TheHeckOfIt Did you know many of them actually regretted it?
If he was a painter, probably lots of under the table pay over decades, so his taxable income was lower, but he never got credit for much of his earnings to Social Security because he never paid on it. Therefore his Social Security is probably minimal.
I’m 63 retired from my real job at 60 and now run a small painting contractor business, too bad he’s 1000 miles away. I can have as much work or as little work as I want.
But if you get a job and earn more than $24K your social security benefits get cut. No one is talking about that.
Yes, SS should have no limits on additional income if your 65 or older
Not if you are at full retirement age. You can work as much as you want
That’s only up to 66 years and ten months.
One thing NOT TO DO? Do not retire or retire early, without being ABSOLUTELY SOLVENT. Have your medical and financial situations in order. And yes, I know most cannot afford to do so.
But the cold thing? Do not feel that the next younger, working generation is going to save you. As the next generations already know we may have less, including $0 SS, please do not come to us. We will have less than you, once we get to your age.
I don’t say this, without actually seeing it. I’ve had neighbors, who were not ready, families not ready for their care and they have come to me - a single woman, feeling I have no husband and kids and should do something about it. Nope. I am nearly 60 and have already had and am still going through family of origin nightmares. Not adding anything to that. I definitely cannot take more out of my own life, including my own long term care and hand it over to someone, who’s retired early, but thinks I should provide free care for them, maybe to live with me and, perhaps, money, too. No can do.
People do what they have to, As they always have. You don't sit around complaining you do what you have to.
I truly hope people stop seeing social security as their only source of retirement income. Social security is something that should be viewed as a supplement. These older workers didn't have the resources we have today to understand this but we millennials and gen z do. I hope we won't be saying things like "I worked all my life. Why is my social security so low?" This man would definitely benefit from moving to a country where that 1400 would stretch farther. Though being realistic, 1400 won't get you far not even in most of Mexico these days.
I learned from my mother back in the day that social security was started in 1935 to supplement your income and was NEVER meant to live off of, she told me to get a job where I would receive a pension when I retired, so I did and got my time in with the Teamsters, and she said to save for a rainy day and live within my means, which I did, saved and invested for 50 years, her words of wisdom paid off and she had great common sense!
Not the first time this has happened, seems to happen every 1 to 2 decades!
When you have an administration that could not care less about people this is what you get
Bullshit they had their whole lives to save, invest, etc. stop blaming politicians for that
@@dantheman6607, when you make too low, it’s impossible to save
Social Security is called "supplemental" income for a reason. Anyone can check with the agency to find out what they will get YEARS before they retire. Personal Responsibility to plan over 40 years is up to the individual. Crying victim is easier, though.
How did this administration stop someone from saving and investing in their own future 30 years ago.?
@@dantheman6607 simple response from a simple mind
Voted against their own self interest for years while having the best economies for decades.
I am looking ,as well
Employers including charity employers will only employee full time and most full time is more than 50 hours per week. They claim it cost more to employee 2 partime workers than to employee one full time worker. Since the deductions are a percentage this is not true.
Like we care millinials will never retire . Or get ss.
this is sad and the ones on top dont care about any of us people need to not pay taxes and stop going to work for money cause mayhem on the streets because aint nothing changing. it has only got worse
Soilent Green 😮
Th ey bumped my ssi up but took my food stamps away!!😅😅😊
Sounds like boomers need to cut back on cold brew coffee and avocado toast!
Wrong generation.
@@debbiecreter2005 Oops, I meant golf and ginger snaps!
@@Rew123 You’re a funny guy!
So, when are we going to stop putting up with it
Never. C ant afford to.
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Maybe they should cut back on the 15 houses that are they own on the market
Relative of mine is gonna be 71 and got hired by my contractor without even asking for a job - know your stuff and finding a job isn’t hard
Not true for most! Your relative got lucky or is in a field that struggles to find workers.
where are all those "financial independence retire early" people who "retired" when they were 30?
👋
32, but still.
Make life easier
Ricky seems to be close to a mental breakdown. Poor guy. All those years of working and this is what he gets. smh
$1400 for living expenses is inadequate. It should be doubled. The way a society cares for its elderly and disabled reflects its values as a civilized community. A society's value is determined by how it treats the elderly and disabled. Despite their contributions in building the society, they do not receive adequate support through social security. They are forced to rely on food stamps for basic needs, which is unacceptable. Russia is looking better and better all the time.
I live on $1,272 Social Security and I put $250 into savings every month with a paid for mortgage low utilities ( no help ) affordable house and car insurance and real estate taxes. I've had the low income freeze on my real estate taxes for 4 years now this will be the second year paying $10 license plate sticker ( Illinois) I am able to pay all my bills and eat very well. I do dine out twice a week sometimes senior meals or buffets. It all depends on where you live and your expenses. I have no job pension but I do have a small 401K Roth IRA and some CDs that I'm not taking anything out of right now. Worked retail for many years quitting in May of 2020
It’s DIRECTLY PROPORTIONAL to how much you PUT IN!!!! THIS clown LOAFED for 30 YEARS!!!
@@traybernbe nice. Let this be a lesson why you need to save when you’re younger for retiriement in a 401k and IRA.
AMEN!
Those seniors built this society. We didn't do this to them. They did this to themselves.
Giving them more only ensures that the next generations won't be able to retire.
how much ss in the usa??
$750 to $4500.
It depends on how much you earned and how much taxes you paid
$1,400 are more than enough in the Philipppines. Now, go there for your retirement.
It is now....but in time it will get just as bad as anywhere
Retire outside the US. You wil be able to go fishing and eat out once a month. You would be able to live.
Depends on the type of work. Living on a basic state pension is a joke. Very unhappy pensioner.
I think it's the same in most countries.