life getting scarer.

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ohjodi
Posts: 946
Joined: Sun Aug 30, 2015 3:57 pm

Re: life getting scarer.

Post by ohjodi » Thu Apr 04, 2019 4:03 pm

floridacatlover wrote:
Thu Apr 04, 2019 1:11 pm
I’ve started reading a book called Nomadland: Surviving America in the Twenty-First Century by Jessica Bruder, published in 2017. It is about people who live in their RVs/campers and travel around the country working seasonally at Amazon warehouses, state parks, farms, etc. I’ve only read about 70 pages but it is interesting. My friend read it and gave it to me. (My friend is my alternative library because she buys a lot of books. I buy almost none.)
I read that some months ago. It is interesting.....the people in the book have a lot of gumption. It's not an easy life, and it's incredibly sad that in our country you can work really hard all your life, and still end up living hand-to-mouth with little to no medical help.
ohjodi

icfrugal1
Posts: 2407
Joined: Fri Aug 28, 2015 12:54 am

Re: life getting scarer.

Post by icfrugal1 » Thu Apr 04, 2019 11:07 pm

ohjodi wrote:
Thu Apr 04, 2019 3:58 pm
Have the 90's couple contact Medicare about applying for prescription help.

https://www.ssa.gov/benefits/medicare/prescriptionhelp/

Ask them also about applying for their state's Medicaid, which would be their supplemental insurance to Medicare.

Their local Department of Human Services can help get the ball rolling on this, too.
Thank you so much, I've passed the information on to my friend. 8-)

I LOVE this group !!!

IC

RecoveringDreamer
Posts: 346
Joined: Thu Aug 27, 2015 10:00 pm

Re: life getting scarer.

Post by RecoveringDreamer » Sat Apr 13, 2019 9:40 am

I'm in my 30s, but the reality of what I could be facing in the next 30 years is a little daunting. My coworker who hired in the same month I did always jokes that we will have to work 50 years before we can retire ("Only 48 years, 2 months, 5 days left to go!").

I am saving 9% of my pay into my 401k, plus a 6% match at 100% and an additional 2% service contribution (when the company stopped offering a pension, they started adding the 2% to our 401k). I have it set up so every January my contribution increases by 1%. I am working on paying down debt, so want to have money available for that now. As I get closer to retirement, this plan will help me learn to live on less and less of my paycheck while increasing the amount I'm putting away. By 20 years in, I'll be contributing 26% of my income, plus 6% match and at that point a 4% service contribution. Unless I get a big unexpected raise at some point, I shouldn't knock into the contribution limits, but when I start getting closer, I'll do the math and if need be halt increases of my contribution to the 401k and direct the savings into a different type of account.

All this is to say, I worry a lot about retirement.
A Life Beyond Money
Self Sufficiency. Simple Living. Frugality.

www.alifebeyondmoney.blogspot.com

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LWolfT
Posts: 1902
Joined: Fri Aug 28, 2015 10:46 am

Re: life getting scarer.

Post by LWolfT » Sat Apr 13, 2019 1:23 pm

Dreamer, it sounds like you're doing quite well on saving for retirement. And you're young enough that your accounts have time to grow.

Only thing I could suggest (and you may already be doing it) is that as you pay off debt, be sure to funnel some of that money into a more-liquid account. Jobs being what they are now, you don't want to be in a situation where you have to crack the 401(k) early.

GMPG54
Posts: 181
Joined: Thu Aug 27, 2015 9:50 pm

Re: life getting scarer.

Post by GMPG54 » Sat Apr 13, 2019 1:48 pm

Office for the aging too.

RecoveringDreamer
Posts: 346
Joined: Thu Aug 27, 2015 10:00 pm

Re: life getting scarer.

Post by RecoveringDreamer » Sun Apr 14, 2019 9:44 am

LWolfT wrote:
Sat Apr 13, 2019 1:23 pm
Dreamer, it sounds like you're doing quite well on saving for retirement. And you're young enough that your accounts have time to grow.

Only thing I could suggest (and you may already be doing it) is that as you pay off debt, be sure to funnel some of that money into a more-liquid account. Jobs being what they are now, you don't want to be in a situation where you have to crack the 401(k) early.
Definitely. I have a savings account I have a portion of my paycheck into. I am super fortunate that my company is self insured for unemployment. Because they've never laid off a full-time worker, they don't have to pay unemployment insurance, but if they ever laid off a single worker, they would have to fund their unemployment and pay the taxes forever. Whenever they would do a layoff, they instead say if we want to take the time off work, we are welcome to, but if we come in they'll find something for us to do.
A Life Beyond Money
Self Sufficiency. Simple Living. Frugality.

www.alifebeyondmoney.blogspot.com

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