Retirement May Not Be So Golden
Retirement May Not Be So Golden
You retired, expecting to live out your life in the golden years. But, suddenly, things aren't so golden. You knew you were supposed to save, but hadn't managed to do so. Now, you are struggling just to survive. Is there any hope? Can you survive, and if so, how?
Only 3% of the retired are able to support themselves. Others will have to supplement their retirement income by still working, at least part time, or depend on someone to help them. They thought Social Security would provide, but it is only meant as a supplement to help support the retired.
Are you already feeling the pinch from having no savings and trying to live in retirement strictly on Social Security? If so, you know you are in trouble. Can you survive, you wonder? Yes, you can, but with some major lifestyle changes. Working part time or working from home can help, if you are able to do that. But, there are other things that will also help.
Many retired people are living on Social Security alone, though they only get $800-$900 per month. Can anyone survive on that, when rent alone would take a huge chunk out of it? It can be done, but carefully.
In order to survive on this income, you will have to downsize your life style. You may object to this, but it is a necessity. That four bedroom ranch house that all the family loves to come home to may well have to go. You may have to settle for a one bedroom apartment. It is hard, but may be necessary for survival.
You can rent out rooms in your home to help with payment. You need to be careful to check carefully before accepting a renter. You might be able to find a college student who would love to live in a homey environment. Providing meals for an added fee is not only a service, but a way to add to your income.
The smaller apartment or house will also save on utility costs. It costs more to heat and cool a larger space. You can circumvent this if you stay in your larger home by closing off rooms not being used. If you choose to rent some of those rooms, be sure to include the cost of additional utilities in the rent.
Food costs can be lowered by shopping only store sales. Stock up when things are on sale. Use coupons and refund offers to save further. Smaller quantities of perishables will help save on wasted food. Try to cook a meatless meal occasionally to save on groceries, as well as be healthier. Some churches have food pantries that are available on a regular basis to the elderly and low income. Also, commodities are often available.
Food stamps are another option that you may qualify for, even if for only a few dollars worth. Every little bit counts when you are pinching pennies to survive.
You may get angry thinking about how you worked hard for fifty years or so, and now cannot get by on the little you have available. That is just the way it is. It is more productive to find ways to get by. Many retired people have inadequate nutrition, and go without medical care due to low income and no insurance. Even Medicare costs money they may not have. Until things get better for the elderly, these tips may help you survive on what you have available.
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