So how can two older citizens live on Social Security?

Question

Help we are scared...............

Answer 1

You can get information from a wonderful site called SeniorArk.com They are dedicated to retirement living.

The government has many publication on how to live frugally. See the Federal Citizen Information Center at the second link below..

If you haven't made retirement plans, such as savings already, you will have to make some drastic changes. If you have equity in your home, a reverse mortgage could work for you. If not, sharing a home with other seniors might be a good match. My in-laws rent out a room to another senior, and it works just fine.

Instead of being scared, become actively involved in a senior advisory program and find out what help is available.

Answer 2

Well, you both have a lot of time on your hands, why not get part time jobs? I can think of nothing worse than just sitting around a house day in and day out...I prefer to be out, meeting and helping others. The extra money will help with the bills and might be enough to actually have a life. Didn't you save anything along the way? If not, there is no way you can just retire on SS. Good luck

Answer 3

My grandma brought an older trailer in a park for $6k. She lives with her cousin. They live on 1200 a month, 200 lot rent(incudes water and trash), 100 phone. 100 cable 50 gas, 100 electric, that leaves them 750 for meds, they are both diabetic, groceries, and bus fare. They take the bus rather than ask for rides to get exercise. They both have heart problems as well and the walking has really helped.

Answer 4

I have no idea in what country you live, however, these are a few basic points that hold good, no matter where you live. Firstly if you do not own your own home, and your renting, then you should be entitled on the pension to a rent allowance. you also are entitled to transport allowance i.e. cheaper bus and train fares. Then there's a phone allowance. And in Australia where I reside you have driving licence concessions in some states, such as N.S.W these are free to over 65s. I hope this helps. Have a good day.

Answer 5

You don't say how old you are,and what age you were when you started to collect Social Security.If you put off collecting SS until you were70 you are better off than most people,your SS check will be more.If all you're counting on is SS,you will have to cut way back on your lifestyle or take a part time job.Good luck.

Answer 6

It's a hard place to be, but my parents did it. It was their only source of income. At times they loved like they were rich when that check arrived and they were poor come the middle of the month. You have to make a budget and stick to it. If one or both of you are able to do something part time that would add extra cash to the monthly budget.

Answer 7

My wife and I have just started trying to do just that. You notice I say TRYING. Actually we were able to get our bills paid off before the time for SS came but if we hadn't done that I would still be working.
There are rent subsidies that are available in some states and there are senior food give-aways in some places but it is pretty tough to manage on it.

Answer 8

One thing I did not see mentioned yet was that there are some community food places where you can get a box of food (usually their choice of what they have) for $15. Or if you put in a few hours of being cashier at the place (or whatever they need), you can get the food for free or else less money.

Answer 9

It isn't easy. However, to dovetail this into one of your earlier questions. If you have the spunk and the energy you can Foster or adopt. In both cases some extra money comes into the household and a youngster has role model they may never have had before.

Answer 10

S.S. was never intended to "live on", it's a supplement. Savings, investments, and pensions are used for retirement and the 'Golden Years'. Supposedly (or hopefully) you will have your home paid for and all debts paid by the time you retire.