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When I got divorced 3 years ago my income was cut in half. Between my pension and SS my income is 33k/ year. I do get small yearly pension raises. My 15 year old car is paid for and I have a small mortgage on my condo. I also do some consulting and will make between 7-9k this year. This has made it possible for me not to use my savings for unexpected expenses.
The past two years I went to Europe twice to finish my bucket list. I am close to my 3 sons and the one that’s local I see weekly. I have many friends and am on a few boards. I have 2 Maltese that make me exercise daily).
One can be both well-to-do and frugal, they are not mutually exclusive.
I am somewhere in between. Maybe conservatively comfortable.
No mortgage, no car payments, credit cards are used for the cash rewards and are paid in full each month. Social security pays all my bills and leaves a bit in the checking account every month. I'm not a traveler or a shopper. I have a comfortable retirement fund that I rarely spend but I am not averse to spending when something really appeals to me and can be justified.
Anyone considering Medicaid as something to fall back on should look into the income and liquid ASSETS that are considered in determining whether one qualifies or not. Look at your specific state.
We are living on not that much, but we have always been frugal, so it isn't that big of a deal. We have enough that we don't qualify for public assistance, so that works for us.
House paid off. Vehicles paid off. Fairly nice emergency fund. Some savings. Would be able to work if necessary.
I don't see as how $7900/m in income is "living frugal on LITTLE MONEY".
TO YOU it may be "little money's but most SS recipients are living on what just your pension is, or less.
Sounds more like a humble brag than qualifying for this thread.
To be fair, the person to whom you are responding is living on $2900 a month, not $7900, since he or she clearly said they are not yet getting the $4500 in SS. They will get it in 2024. (And $2900+$4500=$7400, not $7900 anyway, although that's not a big difference for the point of this thread.)
Anyone considering Medicaid as something to fall back on should look into the income and liquid ASSETS that are considered in determining whether one qualifies or not. Look at your specific state.
We are living on not that much, but we have always been frugal, so it isn't that big of a deal. We have enough that we don't qualify for public assistance, so that works for us.
House paid off. Vehicles paid off. Fairly nice emergency fund. Some savings. Would be able to work if necessary.
No worries!
Yes that's a great point. States vary regarding Eligibility.
For California, starting next year, there is no asset limit.
The current monthly income limit is $1660 for singles, $2265 per month for marrieds.
I started the best job I've ever had in my life 4-5 weeks ago working a 48 hr shift per wk-$25 cash per hr.
Wed 12pm to Fri 12pm.
I only technically work 28 hrs of the 48 hour shift.
I have the entire downstairs to myself with a living room, 3 bedrms/ 2 baths in a Million dollar+ home.
Staying with an 85 year old lady w/ Alzheimers who she does most or all of her self-care on her own.
I really like/love her. She's got such a positive attitude that I think she'll live another 5 years, possibly 6.
She's had Alzheimers for 5 yrs so I read she can really only live around 6 years more before the disease wins.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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Quote:
Originally Posted by Pip-Squeak
...
I started the best job I've ever had in my life 4-5 weeks ago working a 48 hr shift per wk-$25 cash per hr.
...
I have the entire downstairs to myself with a living room, 3 bedrms/ 2 baths in a Million dollar+ home.
Staying with an 85 year old lady w/ Alzheimers who she does most or all of her self-care on her own.
I really like/love her. She's got such a positive attitude that I think she'll live another 5 years, possibly 6.
....
Congratulations,
Enjoy your job, service, and living situation.
Make some friends of the person you're caring for, as you'll eventually need a new gig. My mom has had a caregiver who was able to stay in the loop of some wealthy older ladies needing care for 20+ yrs. It really helped all parties, and my mom gave her lots of gifts, including cars and helped buy homes for caregiver's kids.
We keep full living space in each of our homes, for the future need of a live-in caregiver. We've done caregiving for over 1/2 our life, so understand the trials and benefits.
My sil has 'house / pet / plant sit' in beautiful homes for 40+ yrs.... in Hawaii. !
No personal house required, she just has a suitcase!
Good luck, be of good service and cheer, and keep in touch!
I've been living on just my pension - which, believe me, is NOT MUCH - for over two years now. I pay all my bills and always have money left over going into savings. I've lived very frugally since my late 20s, when I first vowed to own my first home by age 30 (and did) and have kept it up all these years because I enjoy living that way. However, I do want to travel and, although I can afford to (I have assets), I will probably go ahead and take SS rather than eat into them. It was my natural inclination to "delay gratification" and take it later, but now I wonder why I've been passing up that money just to get a few more dollars each month down the line, assuming I'm alive. Waiting really doesn't make sense/cents.
@Pip-Squeak, I am thinking about you and wondering how everything is going. Please update when you get a chance.
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