Le'ts say the maximum social security benefit is $3k, how/where would you live with no other income

hipberri

Well-Known Member
Jan 27, 2016
17,212
if you had no other savings/family. i hear old folks are being roomies now. or could you live in south america, se asia for cheap? is that enough :dunno: asking fora friend
 
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hypntyz

OT Supporter
Feb 9, 2004
11,562
east TN
if you had no other savings/friends/family. i hear old folks are being roomies now. or could you live in south america, se asia for cheap? is that enough :dunno: asking for when i get older
They live in the home they own and paid for during their working lives, only having to pay a few hundred monthly utilities, food, medical etc.

Or they live in economy apartments or similar sometimes.

Also I am pretty sure you cant collect SS while living abroad.
 
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hipberri

hipberri

Well-Known Member
Jan 27, 2016
17,212
They live in the home they own and paid for during their working lives, only having to pay a few hundred monthly utilities, food, medical etc.

Or they live in economy apartments or similar sometimes.

Also I am pretty sure you cant collect SS while living abroad.
this is not true
 

warped

pearl jam > *
OT Supporter
May 17, 2004
32,259
Minnesnowta
They live in the home they own and paid for during their working lives, only having to pay a few hundred monthly utilities, food, medical etc.

Or they live in economy apartments or similar sometimes.

Also I am pretty sure you cant collect SS while living abroad.

until they have to move to an old folks home and have to pay like $5k/mo or more for rent/services
 

Dolan

Low self of steam.
OT Supporter
Aug 6, 2007
3,591
United States
I could lease a decent 2 br remodeled house here in SW Missouri for ~$700/month. Basic utilities, internet, car insurance would be another ~$350. Set $200 a week aside for groceries, household products, etc (we're shopping at Wal-Mart on that budget), and that leaves a grand a month left over.

But, health permitting, there's no way I would fully retire with that income and no savings. Pay the bills with SS and at least do some consulting or start a hand-made furniture shop on Etsy for a few years to build up a buffer. I lived too much of my youth paycheck-to-paycheck -- there's no way in hell I could relax in peace in retirement with no savings. Plus, all the time in the world and no money to do anything is another flavor of hell.
 

westheimer

OT Supporter
Mar 31, 2015
18,069
DC
You can mortgage a three bedroom house in the Houston suburbs for $800 a month so what’s the issue
 

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