Posted on 08/27/2014 1:19:59 PM PDT by MichCapCon
My Dad retired in 1980 and worked continuously since 1940. His monthly SS is about $2180. He was a chemist and earned pretty top non-management wages when he retired, I think that number was in the $80K/year range. Not astronomical. My Mom worked far, far less and much more intermittently and here SS was in the $1430 range.
A 30 year mortgage payment on a $150K home right now is under $750 given 20% down. A similar payment on a $100K home w/20% down is $485. I can’t get a rate for a $70K home.
Back to the $150K example, assuming other expenses are $250/mo, the housing nut is about $1000 a month and there are few places in the country where anything but a room in a private house is less than that.
For people to have lived to their retirement without having saved $20-$30K (which is close enough to nothing to be called nothing) they haven’t taken many steps during their many years to prepare.
Conservatives are all about small government and personal responsibilities and against leeching off one neighbors.
And I was referring to a moving van!!!
I seriously doubt that but I'm not going to argue with you............
With that being said, $80K in 1980 is the equivalent of over $200K today...........
And the retired folks we're talking about still living in the city limits did not have the schooling or job position your father had. In fact, it's quite likely they were your father's low income hourly workers.............
Apples and oranges bro.......
Sorry, $2180 was the combo of Mom & Dad’s SS. Mom passed, Dad now receives $1850 at age 97. I would have to boot my old computer and scan the bank stmt because my scanner doesn’t do WDOs 7.
My Dad’s father was in the Russian army, emigrated with almost nothing in the 191x period, worked as a wheel maker at Ford, started a grocery and laundry, both of which failed, own 4 multifamily buildings (including one 4-plex he built and used to leverage the purchase of the three others buildings.....this was a very very common format of rental RE in the Detroit area...and was foreclosed on every one of them during the depression. He still ended up with a rental duplex in 1965 and died, in about 1975. He lived on 8 mile road in Detroit and there is every likelihood his property is a burnt wreck today.
If you are telling me that folks who never did anything beyond what their jobs provided in an attempt to provide for their retirement....no investments, nothing like that....then they probably won’t do anything to make their retirements any easier the day they retire, either.
“It’s a combination of many factors,” said Bill Nowling, spokesman for Orr.
Yes - bad government, decades of Democrat policies, and outright stupidity.
And it’s all coming to a city near you, thanks to socialism.
So why doesn’t the state just require them to base their budget on money actually brought in? Eliminate spending money they think they might get. Make them only spend money they already have.
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