Retiring and living on a Shoestring?

hollydolly

hollydolly

SF VIP
Location
London England
Many of us here seem to be either still working, or retired and financially comfortably off...at least that's the impression I get from people's posts.

However, is it really so?. are we really All financially secure on here? .are there folks on here who are literally living on a shoe string with no pensions or assets to rely on for a financial cushion?

Surely there must be folks who are having less than a fun time financially.. ..surely not everyone here is in a place where they don't dread a bill coming through the door..and are living from SS payment to SS payment or a small allowance from another source .

If indeed there are people who are struggling financially, would you feel able to discuss it on this forum, explain how you manage to keep the wolves from the door and survive on a shoestring. How do you do it, what did you have to cut back on that you once enjoyed and do you miss it?...or perhaps you would like some tips and hints on how to manage from others who are in similar financial straits

Any tips to help others who may be in the same position ...yes /No?

Anyone want to share their experiences..or are people too embarrassed or ashamed to admit they are struggling? Please don't be...we'd like to learn about the good and the not so good financial positions of our senior members..
 

hollydolly said:
Many of us here seem to be either still working, or retired and financially comfortably off...at least that's the impression I get from people's posts.

However, is it really so?. are we really All financially secure on here? .are there folks on here who are literally living on a shoe string with no pensions or assets to rely on for a financial cushion?

Surely there must be folks who are having less than a fun time financially.. ..surely not everyone here is in a place where they don't dread a bill coming through the door..and are living from SS payment to SS payment or a small allowance from another source .

If indeed there are people who are struggling financially, would you feel able to discuss it on this forum, explain how you manage to keep the wolves from the door and survive on a shoestring. How do you do it, what did you have to cut back on that you once enjoyed and do you miss it?...or perhaps you would like some tips and hints on how to manage from others who are in similar financial straits

Any tips to help others who may be in the same position ...yes /No?

Anyone want to share their experiences..or are people too embarrassed or ashamed to admit they are struggling? Please don't be...we'd like to learn about the good and the not so good financial positions of our senior members..
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The main way is to take a look at what people spend their money on, how they look after their health and how much is spent on enjoyment.
Some want to smoke, drink, gamble and take world cruises.

Others eat well, enjoy family, go for a coffee or lunch and take a 2 day holiday.
 
True Koala, but what I'm really looking for are members of this forum who are financially poorly off ( perhaps while working but certainly more relevant are the seniors who are retired and living very frugally)...and how they cope compared to when they were working and perhaps have suggestions for others in the same financial dire straights.

For example what did you cut back on or even out altogether after those of you who are retired found yourself no longer able to afford .
 

not necessary on a shoe string, well maybe one, our car is 9 years old, my truck is 14, we have basic cable, basic internet(drives the children crazy, both ours and grand) I do work part time and the wife shops sales and coupons.....we do not travel much (mostly by choice) and we plan our eating out......we have always lived within our means and both are healthy (that helps) we have cut back on some things that allows us to do others.....over the years I would have been working lower middle class, with two small pensions SS and part time job we are actually getting more then while I was working, wife has been a stay at home mother, with a few little jobs along the way......we are as happy as tow pigs in a mud puddle.....
 
I'm not struggling because I'm still working. I get a better-than-average SS income and a small pension. I could live on them but really don't want to.

When my husband died, I cashed out the investments, added the money to the insurance proceeds and used it to pay to have my granny flat built.

Financially secure? I suppose so in that I'm not reduced to cat food and saltines by any means and wouldn't be even if I quit working altogether. I just feel much better knowing that my bank balance is in the black. Could I write a check for a cruise or a new car? No, not even close. (It's a good thing that I'm not moved to book a cruise and don't care about having a new car.)
 
I've thought abut this a lot. How little can I live on. I'm not there yet because I'm still working but if I quit my job, will I have enough.

Not everyone has a work related pension. Unexpected things come up. Life is expensive.
 
Kitties said:
I've thought abut this a lot. How little can I live on. I'm not there yet because I'm still working but if I quit my job, will I have enough.

Not everyone has a work related pension. Unexpected things come up. Life is expensive.
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Exactly kitties, this is the whole reasoning behind my question. but I just wanted to know if there are people on here who are retired and don't have work related or private pensions to pad out a basic pension or SS (not quite sure how it works in the USA)..We know for example that one of our members who has recently gone to live in a homeless shelter is struggling along on minimal income, but is she the only one on here..or is she the only one who is not too ''ashamed'' to admit it. There is absolutely no reason to be ashamed or embarrassed about having little money !
 
I think it's more a matter of what you feel you want to share . . . being embarrassed could be one reason, but perhaps they feel it isn't anyone else's business except their's. It's considered tacky here in the U.S. to ask someone what they earn.
 
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LogicsHere said:
I think it's more a matter of what you feel you want to share . . . being embarrassed could be one reason, but perhaps they feel it isn't anyone else's business except their's. It's considered tacky here in the U.S. to ask someone what they earn.
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Same here in the UK Logic, it would be very impolite to ask anyone how much they earn.

I wasn't asking that, in fact I was just thinking that many of us on here seem to mention expensive holidays (vacations), properties , and huge pensions etc...and I was trying to think of the feelings of those who may be members of this forum and struggling with very little ..simple as that..nothing more nothing less...if people don't want to reveal that they are financially struggling that's fine, I just didn't want anyone who may be struggling to feel they're alone if they knew there were others on here who were walking in the same shoes!!
 
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hollydolly said:
Same here in the UK Logic, it would be very impolite to ask anyone how much they earn.

I wasn't asking that, in fact I was just thinking that many of us on here seem to mention expensive holidays (vacations), properties , and huge pensions etc...and I was trying to think of the feelings of those who may be members of this forum and struggling with very little ..simple as that..nothing more nothing less...if people don't want to reveal that they are financially struggling that's fine, I just didn't want anyone who may be struggling to feel they're alone if they knew there were others on here who were walking in the same shoes!!
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Going by comments I think quite a few are on tight budgets. Pensions and incomes here probably vary a lot, just like in the general population of people our ages.
 
People ‘say’ a lot of things, especially when cloaked in the anonymity of the internet. I’m not calling people liars, but just because someone says they have a large income, pension, investments, property, take expensive vacations, pay their cc balances every month, etc. etc. doesn’t mean it’s true. OTOH, some people might be quite wealthy but they don’t talk about it – at all – because it’s nobody’s business and in poor taste.

There could be a lot of people on here living in rented rooms or relative’s basement or even homeless shelters but see no reason to volunteer that information. Some may be hiding from collection agencies or others might get most of their food from pantries and they have to go to the library to use computers. Seeing that they are not alone is not going to change their circumstances (unless several people want to wire them money, which is highly unlikely).
 
Ok ...well, I was about to post a picture on another thread of another property which I own ...and I stopped myself because I felt that perhaps there might be people on here who are struggling badly financially, and it would look like I was showing off. perhaps rubbing their noses in it etc.. ..although from what I'd gathered from most people's posts the vast majority seem to be financially healthy..but before I took the decision to post or not I thought I'd ask the question first because I just didn't want to seem like I was showing off if there were many on here who were on the breadline.



However, I feel that by trying to think of others' feelings I've come under attack...so I won't bother next time..
 
holly, please.....share your picture (in a different thread). I'd love to see it, :) and I'm sure others would. You are not a braggy, snotty person.

And please, don't FLOUNCE :cry:

::rofl1:
 
I wanna see! I wanna see!

I think even folks who truly are living on a shoestring like to see photos of others, their homes, their vacations and travels.
 
We don't have a lot of money Hollydolly, but saved enough over the years to retire without too much worry. Of course a serious medical condition or long-term nursing care can deplete savings pretty quickly. I think if we had to live on a shoestring, at least one of us would have kept on working full time. Since we didn't have any kids, we were able to save enough for early retirement. We don't live high on the hog, or have a fancy home or cars, etc., we never lived or cared for the glittery showy life anyway. Our home and cars are paid for, and if we can't afford to pay off a credit card in full on a monthly basis, then we don't make the purchase. If we really want something in reason, we get it, but don't splurge on petty stuff.

Our vacations since retirement have been basically driving trips where we go camping and take our pets with us, that's what makes us most happy to get out in nature. Our most expensive vacations were the couple of trips we took to the Hawaiian islands when we were younger. We do own a piece of raw land, no mineral rights, electricity, water, etc. It's out of the way, and we used to camp there a couple of times a year, but the road has deteriorated and we are not willing to spend money to have it graded, we don't plan to build on it or live there in our lifetime.

I'd love to see your land Holly, I am not hateful or envious of those who have more money than I do, and I don't look down on those less fortunate either.
 
I hope no one sees my posts about trips as bragging as they are intended as sharing as I would with friends and family. I have friends on FB who can't afford travel and ask me share details and photos so they can travel vicariously through me. I enjoy seeing friends photos who are travelling as well.

Holly, I want to see your photos of Spain.
 
The adult mobile park my parents used to live in. I remember my mother would comment "you know there are people living in here on nothing but social security" And I'd say "yeah that will be me some day" My step father gets a pension from the county. He has supplemental health insurance. He doesn't really have to worry. After my mother died, I found they had less in their savings than I thought.

I can be pretty nosy at times. You would be amazed at the questions people are willing to answer. Being a nurse working in long term care I've asked some pretty personal stuff usually prefaced with "You don't have to answer this if you don't want to" This may be a bit personal but...." "If you don't mind if I ask" etc. People are usually very open to discussing and often seemed relived someone asked allowing them to vent. I can't remember a time anyone became offended.

I agree with not having debt. I don't have any. My mother didn't believe in buying on credit. But when I retire I'll probably be pretty broke. I've been broke before. There is a difference I believe in being broke and being poor. I hope I'm never poor and can take care of me and the cats.
 
Ameriscot said:
I hope no one sees my posts about trips as bragging as they are intended as sharing as I would with friends and family. I have friends on FB who can't afford travel and ask me share details and photos so they can travel vicariously through me. I enjoy seeing friends photos who are travelling as well.

Holly, I want to see your photos of Spain.
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I hope so too...but on another forum (UK based) I remember doing exactly what you said and posting a picture of our Boat...then a a few weeks later a picture of our house...over the months mentioning what my husband and I did for a living...naiviely believing we were all over 50..we'd earned what we had, I didn't believe it was bragging at all..just thought people were interested because that's the impression I was getting from the feedback ...however I was horrified to be sent PM's from a friend that he'd received that were flying around under the radar ..from people whom I believed were my online friends..deriding me behind my back. Who does she thinks she is..etc!!

One of the reasons I joined SF..was because I always believe rightly or wrongly and I still believe ..that generally Americans are happy for people if they've achieved a something regardless of how small or large or how important it may be to you..they as a people are hugely encouraging towards achievements. Unfortunately it's well known in the UK that it works the opposite way. The more you appear to have achieved the more likely you are to be ''brought back down to where you belong''.

I don't have much in the way of 'things' and certainly I've seen a few photos of great big beautiful homes of some of the American posters here...and boy I would love to have one of those..and I'm delighted for those people they have them.

However what I do have is what I worked verrrry very hard for since I was 15 years old..no-one gave me anything for free, I never signed on the Dole...so what little I do have.. I earned, and I was so proud of my achievements after doing all of that while raising my child alone as a single parent and giving her the best education I could while working 7 part-time jobs to fit around her school hours so I could always be here for her before and after school ...... that I didn't realise that sometimes people can be just as nasty as hell if you have something they don't..regardless of what it might be.. or how hard you've worked for it.

Anyway I've gone off at a tangent...sorry 'bout that.

Thank you to SB, and everyone who understood the Original post...but it looks like everyone on SF is doing financially well enough for their lifestyle , so I've got my answer now.
 
Ameriscot said:
I hope no one sees my posts about trips as bragging as they are intended as sharing as I would with friends and family. I have friends on FB who can't afford travel and ask me share details and photos so they can travel vicariously through me. I enjoy seeing friends photos who are travelling as well.

Holly, I want to see your photos of Spain.
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ditto.gif..Places that I will never see if they are not posted here!!
 
Yes .OK ............. I'm bragging about what I have, I have a home (1) I own, and let me tell you I worked very hard to get my home....I grew up in total poverty, I left BH where I was born at 25 years old with three children, a few clothes , blankets .for the kids and myself, I had a total I of $2.00 in my pocket and a bus ticket to get to a country area in SA where I knew I could get a job to enable me to obtain some sort of security for the kids and myself, the journey from NSW to SA where I was heading involved an overnight stop, in Adelaide which I spent on a wooden park bench under shelter at the bus depot.The kids had prams to sleep in .
No one ever gave me anything, so the home I have and own I worked for every cent that went into building it.
i have a little in cash ,,, but lost a sum of money due to a corrupt religious group ( I didn't know it was a religious group untill they declared bankruptcy) This well known religious group ,set up a company to encourage mum and dad investors to invest with them, which I did only to find out they were scammers , who by the way still live in homes on the sea front in Aust worth $ millions. However they made sure everything they owned was in spouses names who were not named in the company....
Oh yes I often mention I go to Queesland for a months holiday in the winter, that holiday is always planned and booked by myself not agents , I wait untill The airlines have specials and I quite often book flights 6/7 months in advance to take advantage of the specials , I spend the rest of the time remaining before leaving on the trip saving to pay the rent for the little unit we rent which costs us $1200 for a month, which is cheap for the area we go to Known as the Gold Coast .
 
Good for you kadee...absolutely Kudos for everything you've achieved, you've come along way mate to climb out of abject poverty, and you absolutely deserve what you have, and you have no need to excuse yourself for anything you've worked very hard for over the years.

I too was raised in poverty, we lived in a high class area, among some very rich people..yet my parents worked manual labour for what today would be classed as Minimum wage..we had nothing..we'd go to school with cardboard in our shoes, and have to walk 4 miles to school and back rain and shine from the age of 6 years old because no-one could afford to pay for our bus fare..we never had holidays..ever.. we never ever went on a school trip, we kept moving house to avoid bailiffs...yet always in the best areas.. we ate the most basic foods.. cheap, and rarely nutritious we kids were always hungry and always underweight . ...but everyone thought we must have money or we wouldn't be living in the best area of the city..what they didn't know was that inside our home there was no floor coverings only floorboards or cheap lino , and we had coats on the beds instead of blankets...and this was in the 1960's..not the 30's.. ..and yet as I say, both my parents worked, there was no help in those days from welfare to top up a basic wage as there is today!!
 

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