Do y'all remember when we were growing up, back in the day, when life seemed to be laid out in the most simplistic of terms?
- Get married youngish.
- Have babies.
- Work if you must.
- Buy a home.
- Retire at 65.
- Die.
I'm 65 this month. Medicare started, my social security is available and I'm old. Before you tell me that 65 isn't old, let me point out that my knees are bone on bone, I have painful arthritis i my right foot, carpal tunnel in my right hand/wrist, losing teeth and I have to admit to it: cognitive decline.
I am not suffering from dementia or anything like that. It's a completely age related slowing down. I take more time to think, I speak more carefully and my work is slower and sometimes I have to double or triple check because I'm missing some simple things.
I'm ready to retire but I can't afford it.
Which brings me to social security. It's money that has been put aside throughout your working life for you to retire on. But here's the rub: if you were a lower paid employee, if you changed jobs and had periods of unemployment, it affected how much money is available to you.
If I get my social security now, I would get $1600. (and some change).
If I wait till May 2025 when I'm 66 and 8 months, I would get $1870. (+change).
If I wait to age 70, I get over $2400.
It's not huge amounts of money. And I live in Hawaii where things are brought in by boat and tend to be a bit expensive. (Oh how I miss grocery shopping in Seattle).
Also... I need to mention that I've had to face that my abilities to continue working full time are proving to be onerous and so I'm cutting down to a 4 day work week. And I am not allowed to work over 8 hours a day. Which means I'm losing about $440. per paycheck.
So here is the question: do I tighten my belt and keep going with the lesser amount? Or do I claim my social security now while still working and (because I'm losing over $800 a month) and use that to support me and put all extra into savings? The thing is that I do have a backup plan (kinda) for when I retire but it's all so fucking complicated.
We spend our lives working for wages for the sole purpose of getting older and being even poorer. Make it make sense.
Love you all. Stay safe.
The system makes no sense whatsoever.
ReplyDeleteI hope you can be kind to yourself as you work it out in the best possible way for you, and that you can enjoy your birthday, regardless (if nothing else, enjoy it out of spite for all assholes in your past)
Take care, find joy, be safe.
Damned if you do, damned if you don't. They have changed it here so that seniors can get their SS and work a few more hours a week before it affects the pension. NOt sure how much the pension is but it's not that much, which is why the seniors need to go back to work. The cost of living is disgraceful at the moment.
ReplyDeleteYou would think after a life of working (be it part-time, casual, full etc) that you could retire and live a comfortable and happy life. Turns out that's bollocks. Deciding if you need medication or food is wrong.
I hope you can find what you need, without it putting on extra strain. You can always move down here to Perth. It's hot, we have beaches and people are nice. M ostly lol Might be a little cheaper for you ;)