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Old 01-10-2013, 10:16 AM   #81
Thinks s/he gets paid by the post
imoldernu's Avatar
Join Date: Jul 2012
Location: Peru
Posts: 4,652
Real case scenario for living on SS.
Posted earlier in the thread, but thought to get down to the basics of what one can expect from SS, and the basic-basic income that would be available after the deductions for medicare A&B, and then the cost of Medicare D, and finally the cost of a basic healthcare supplement.

Here's what the SS notification looks like, for those who haven't started on SS Mine, and DW's, Which is one half of mine, since her SS quarters and income were less than half of mine... My SS was taken at age 62 (15 years ago) and is the current amount, which includes all adjustments, since 1999. The difference between taking at age 62 and full retirement is 30%.
The dollar amount reflected the maximum input for the best quarters.

Thus, for one person one month basic health and SS net:
$1393 SS Gross
$105 Medicare
$156 Medicare supplement
$ 41 Medicare D
$ 12 Medicare B deductible

Equals $1078/month or $12936 per year for me.

That amount does not cover the co-pay for drugs or any optometry or dental costs.

I do this calculation because it represents what I consider to be the base cost on which to build an austerity budget. Since the average Social Security recipient in 2012 received $1230 gross SS, it would leave for all expenses... $915/month out of which would have to come:

uncovered medical costs... drugs, eye care, dental
and all other expenses
.................................................. ..................
Beyond this, with no other source of income, a person would have to rely on government or private safety nets.

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Old 01-10-2013, 10:42 AM   #82
Recycles dryer sheets
Join Date: May 2012
Location: Worthington
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Originally Posted by Dreamer View Post
Love this story. So uplifting. Hope he remains cancer-free and that they enjoy their retirement for many years to come. Thanks for posting it.
I'm glad you like that too! He no longer has any pain and has a very high quality of life.

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Old 01-11-2013, 06:00 AM   #83
Thinks s/he gets paid by the post
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Originally Posted by enjoyinglife102 View Post
I would imagine the quality of life of these locations is enormously enhanced by the proximity to a college/university. I live near a few and they are a goldmine for all kinds of things to do on the cheap.
Sure. Ever seen a poor state college town? States spend excessively on colleges vs. the rest of their states'spending & thus the benefits of that accrue in those locations.

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