Anyone else here forced to retire and scared to death?

[Sunset]

Quote:

Originally Posted by gayl 1. 2500 apartment rent is not unusual, it's cheap here 2. Personal attacks unwarranted IMHO just bc he's concerned about making retirement work

Then I guess he was making a ton of money because that is $30,000 /yr for rent, so doesn't sound like he was working at McDonalds.

I guess the repeated generational and racial comments he makes bug me, and won't help him get a job. They will also bug the person interviewing him.

[gayl]

I read pg 1 and pg 9 only. Missed those racial comments but caught where he said he was unemployable bc of age. That's true in many fields here which is why I suggested the other 2 jobs: retail & tax stores

[travelover]

Quote:

Originally Posted by gayl If evicted in California the tenant will still owe rent until it is re-rented

Can't get blood out of a stone, especially a stone in another state. I really doubt they'll pursue him.

[Forced to Retire]

Some of the people clarified the information I had given before.

People asked if friends and family can help me out. Yes, I have some friends and family in the area but they are not close enough to really get much emotional support from. Were friendly but not close. So for all practical purposes I am alone in all of this. (I said earlier I have no family or friends who can help me out- this is basically true.)

People asked about my $300K in savings. I burned through my 401k and IRA foolishly in a previous job loss and long term unemployment years ago. After that I did OK for a time and managed to save and invest the $300K, which all sits in a Fidelity Account. $280K is in mutual funds and $20K in money market.

People asked if I am collecting jobless benefits. I was collecting-up to a few months ago, but they ended. Now I make no income at all.

People asked why I don't just move to a cheaper spot. I have an apartment lease that goes another 8 months and they told me I would be sued and my credit will be destroyed if I break it. There is a special website apartment complexes and landlords use to check up on potential renters. If I am evicted or break my list, I will show up on that website as a dead beat. Having a good reputation and credit was always important to me. I am so proud of my 821 FICO score.

People ask how I can be spending $2500 in rent. Because every time I signed a new lease the rent went up 10% or so and I was too lazy to move. Rent is very expensive in Alexandria VA. The prices you see online for apartments is for the first year only. If you sign a new lease, expect to pay 10% more each year. The rent just went up each year to the incredible $2500 a month rate.

People ask why I don't just get a part time or temp job to get me some money. I have tried EVERYTHING but no one wants me, likely because of my odd personality, being old and having white hair and being 300 pounds.

People asked what I did before I was fired. I was an Operations Manager for a large company in Crystal City VA and made really good money. I was fired after six years of employment- with no notice or warnings at all- because my boss of many years said-- "it was not a good fit."

[FI by 2024]

Quote:

Originally Posted by Sunset Surprised that nobody has asked for pictures of the apt., I mean a $2,500/mo apt wow.... are the taps gold plated ? I have to wonder how dumb was OP to rent such an expensive apt. in the first place ? What job did you do OP that earned enough for this $2,500 apt. and everything else in life, which should have included stashing a lot away for retirement since you are sooooo old. Did you get your haircut and dye it, or is it just easier to continue to blame younger people and immigrants because you can't get a job since you haven't really tried in 9 months.

I live only a couple of miles away from OP and I assure you $2500 per month doesn't get gold plated anything. My rent is $2700/month before paying for parking or pet rent or utilities. That gets me a one bedroom. It's a very nice, new one bedroom. If I went to one of the apartments nearby that is 30-60 years old I could maybe save $200-300 each month, but my apartment would be dark and smelly and things would break more. My friends who have families are paying $3200-4000 per month for larger places.

OP said he lives in Alexandria and worked in Crystal City. He probably worked for a government contractor easily pulling in mid-$100,000. BTW after six months of researching places to live when I was moving here, the absolute cheapest rent I found for a 1-bedroom apartment in a safe area was $1800/month, a basement apartment with a private landlord in a basement that didn't have laundry or a full kitchen and would have required a 30+ min commute each way. $2500 is not at all expensive in this area.

I don't like his comments about young people and immigrants either, but since I can walk to his place from mine I 100% believe his story on the price of rent. I do wish he would listen to my earlier comments about VA law since I already pointed out what he needs to know. But let's not attack him for making a choice that is the same choice everybody living in this area has to make. Feel free to comment on him failing to do anything to help himself, or hating people that are different, or living 60+ years as if he'd never retire. But it's pointless to mock a $2500 rent when that is frankly kind of low in this area.

PS hating on immigrants is xenophobia, not racism.

[sturbridge]

Quote:

I was fired after six years of employment- with no notice or warnings at all- because my boss of many years said-- "it was not a good fit."

In my 30+ years of professional experience, this rarely happens. Instead what typically happens is that the manager gives hints hoping the employee will pick up on it. Employees that don't pick up and don't make changes are the ones you get laid off/fired. If you are as eccentric/odd as you claim to be, its likely your manager did indicate dissatisfaction, but you didn't pick up on it.

[FI by 2024]

Quote:

Originally Posted by Forced to Retire People asked why I don't just move to a cheaper spot. I have an apartment lease that goes another 8 months and they told me I would be sued and my credit will be destroyed if I break it. There is a special website apartment complexes and landlords use to check up on potential renters. If I am evicted or break my list, I will show up on that website as a dead beat. Having a good reputation and credit was always important to me. I am so proud of my 821 FICO score. People ask how I can be spending $2500 in rent. Because every time I signed a new lease the rent went up 10% or so and I was too lazy to move. Rent is very expensive in Alexandria VA. The prices you see online for apartments is for the first year only. If you sign a new lease, expect to pay 10% more each year. The rent just went up each year to the incredible $2500 a month rate. People ask why I don't just get a part time or temp job to get me some money. I have tried EVERYTHING but no one wants me, likely because of my odd personality, being old and having white hair and being 300 pounds. People asked what I did before I was fired. I was an Operations Manager for a large company in Crystal City VA and made really good money. I was fired after six years of employment- with no notice or warnings at all- because my boss of many years said-- "it was not a good fit."

Now that I've chastised Sunset, it's your turn.

First, I'm not sure I believe you that you have to pay out your entire lease, and the reason I don't is that I went to ~20 apartments between Arlington and Alexandria and all of them required TWO MONTHS RENT to break the lease - not the full lease term. Plus 30 days notice and a security deposit, you might end up out $10K but your credit would be fine. And, I've already told you the applicable laws for your situation. Refusing to check for yourself and simply relying on what your leasing office says is going to get you nowhere but the poorhouse. I really don't care how proud of your credit score you are, it's not going to mean anything when you are living on the street.

Second, rents go up about 2-3% annually in this area. A single complex might have a 10% increase one year, but not year over year over year. Don't try to protect yourself from the group by exaggerating the numbers. 2-3% is still a lot when you are looking at rents this high. No need for hyperbole. You probably moved in when the rent was already over $2000/month if not close to $2500, am I right?

Nobody wants to hire you because of your personality, age, hair, and weight? You can change 3 of those things and the fourth will be less impacting as a result. There are "now hiring" signs literally at every shopping center I've been to in this area, plus I and others have already talked about starting your own small business. Just get out there and start earning money already.

Finally, based on your previous job it seems you'd be a great candidate for part time, contract work for the government. Sure it's not a long term solution, but since you make it sound like nobody wants to work with you for long maybe you can use that as a selling point. Or maybe you can become somebody who is a better fit.

Bottom line, the people on this board have given you literally dozens of things to try and you've done exactly one - asked your leasing office if you can NOT give them $20,000 and would they be okay with that please? Where are you on the rest of your list?

[BLS53]

Quote:

Originally Posted by travelover Can't get blood out of a stone, especially a stone in another state. I really doubt they'll pursue him.

But the stone's got $300k underneath it.

[garyt]

Quote:

Originally Posted by timo2 My FIL (now deceased) fit the description of the OP, except he was laid off in his late 50's. He got by surprising well. Looking back it amazes DW and I, because we know how little they had about $250K saved, plus SS and a tiny pension from a megacorp. In fact, when I go on a frugal rant, DW reminds me that her parents retired with very little and didn't starve. On the other hand, FIL never traveled anywhere and mostly watched TV while feeding his dog potato chips.

But did they have medical benefits through work in retirement? That's the real kicker. If you have it, you can live on little, if you don't it eats up a lot of your income until 65

[Floridatennisplayer]

How is saying that there are a lot of immigrants and young people taking the minimum wage jobs racist?

[MichaelB]

Let's not go there, please.

[pb4uski]

Quote:

Originally Posted by Sunset Surprised that nobody has asked for pictures of the apt., I mean a $2,500/mo apt wow.... are the taps gold plated ? I have to wonder how dumb was OP to rent such an expensive apt. in the first place ? What job did you do OP that earned enough for this $2,500 apt. and everything else in life, which should have included stashing a lot away for retirement since you are sooooo old. Did you get your haircut and dye it, or is it just easier to continue to blame younger people and immigrants because you can't get a job since you haven't really tried in 9 months.

Quote:

Originally Posted by gayl 1. 2500 apartment rent is not unusual, it's cheap here 2. Personal attacks unwarranted IMHO just bc he's concerned about making retirement work

+1 with gayl. Sunset's comments were:

1. Out of touch.
2. Out of line.

Back to the subject.... many have recommended and I believe on the OPs to do list was to consult with a lawyer on his rights in breaking the lease.... we have heard nothing from the OP on that.

But I agree with others that irrespective of what he is entitled to do that the OP needs to just move and take his chances on his current landlord chasing him. Best case: he saves $20k ($2,500/month * 8 months). Worst case: He ends up having to pay the $20k plus $800/month for 8 months for the new place so the next 8 months cost him $6,400 more than what it would have if he stays to the end of his lease. Given the likelihood of saving $20k (or even $15k if it costs two month rent to break the lease) versus the likelihood of the worst outcome that has a cost of $6,400, I would go with the odds, break the lease and take the risk given the potential rewards.

[Amethyst]

Based on OP's responses, I think he clearly does not wanna break his lease, so we may as well stop beating that horse.

I don't think he wants to take a McJob, either, after what I gather was a well-paid administrative job ("operations manager" in my lingo = a savvy coordinator of work group activities; a problem solver; the guy/gal you go to when snafu's strike). We have all seen older, overweight, white-haired people working in stores and behind convenience counters; and NoVa is a full-employment area; so it's not that he could not find such a job. He doesn't want one, and that's his business, and it's beginning to seem like we may as well leave it alone.

Suspect OP mainly wants sympathy; he has mine FWIW.

Amethyst

[UnrealizedPotential]

Quote:

Originally Posted by Amethyst Based on OP's responses, I think he clearly does not wanna break his lease, so we may as well stop beating that horse. I don't think he wants to take a McJob, either, after what I gather was a well-paid administrative job ("operations manager" in my lingo = a savvy coordinator of work group activities; a problem solver; the guy/gal you go to when snafu's strike). We have all seen older, overweight, white-haired people working in stores and behind convenience counters; and NoVa is a full-employment area; so it's not that he could not find such a job. He doesn't want one, and that's his business, and it's beginning to seem like we may as well leave it alone. Suspect OP mainly wants sympathy; he has mine FWIW. Amethyst

OP has my sympathy as well. OP may not be happy going forward but he will make it somehow. I can't make OP happy if he does not want to be.

[gauss]

Quote:

Originally Posted by Amethyst Based on OP's responses, I think he clearly does not wanna break his lease, so we may as well stop beating that horse.

Dollar to Donuts that he renews the lease when it comes due.

[aaronc879]

If the OP doesn't want to move too far away then there are cheaper options just north of Richmond. Here's one for $660/mo.
EASY ACCESS TO I-95! ONLY MINUTES TO ASHLAND, DOWNTOWN, & SHORT PUMP!

[pjigar]

The best solutions are often the simplest ones. OP, have tried talking to landlord about "how" he can terminate the lease early? You can offer him to continue lease until the apartment rents and pay an extra month of rent as a penalty. In exchange, he signs you early lease termination letter. Due to better leasing market, you can simply offer to continue lease until it rents. If he/she disagree then offer extra month of rent as a carrot. I am landlord and I can tell you that I have early terminated multiple leases with some arrangements with my tenants. It is a win-win situation. As a landlord, the only goal I have is to make money. If I can make more money by loosing a tenant then all the better!

[Bestwifeever]

If I were in the OP's situation I would probably be just like him--in my case very worried about the future, in my case crippled by low self-esteem by getting fired and therefore not able to present myself as job worthy to potential employers, etc., etc. I hope I would be open to the many fine suggestions others have given here and use them as a springboard to move ahead. The following is in the spirit of the other posters here, who gave some very thoughtful advice. My advice to myself?

1. just stay in the apartment until the lease is over and stop thinking about it, because those large apartment management firms might well have lawyers on staff whose only job it is is to go after people who break the lease and then there would be damages and court costs on top of everything else and I have to live somewhere for the next eight months anyway.

2. Go to legal aid or a senior center to ask an attorney about age discrimination in the firing. I might but probably don't have a case, but you never know and there could be a small settlement to just make me go away. If th atty said I have no case, I'd stop worrying about it.

3. Cut all expenses that I can right to the bone. Bye cable, bye smart phone, bye Internet, bye restaurant meals and carryouts and coffee and soft drinks and alcohol. I know I already use the library (because I see all those other retired people there ) and can use the Internet there, read papers, check out books and movies. I'd cut back on food expenses in my own kitchen by closely monitoring portion sizes and would probably lose weight as well as save money.

4. Focus on life after the lease is up. If I could get temporary work before then, I would, but not to get trapped in the inertia of the current living situation. I would familiarize myself with Richmond or wherever, get that next apartment lined up and deposited, and look at employment possibilities there.

5. It would be hard, but I'd try to remind myself that I do have a much larger nest egg than most people, especially for a single person. And I would try to work on the personality things that I call eccentric but others might call something else. I've never gone wrong when I've tried to be the nicer person.

[ivinsfan]

Well I officially give up. I OP's last post was yet another rehash of why his situation is hopeless and there is nothing he can do.

I'm puzzled about his numbers too he said he lost his job 9 months ago and his lease still has 8 months left. Did he renew his lease after he lost his job?

Well OP you said you have been thru this before burned up your IRA, got another job and rebuilt it. Well, you won't be rebuilding this time since you can't find anyone to hire you.
You just started a thread about having fun bumming around all day just because you have time to burn and nothing to do.
If you don't want to think or act for yourself, so be it, go ahead and badmouth ER all you want..I hope you are enjoying your life and are able to downscale in the near future but you don't seem to be the resilient type. And you are also a big "blamer" as in it's always someone else's fault, that I can't do what I want or need to.

I wish you luck and maybe someday you'll wake up and help yourself.

[samclem]

I don't know the OP, so this is just an observation that may be entirely off the mark:
- If we've worked in a large office, we've worked with somebody that was clearly benefiting from a special, niche situation. Everybody else on the team might wonder how "Bob" ended up in that job, making a lot of money but maybe not fitting in with the other members of the team. Most would have agreed that "Bob" would be unlikely to find such a good situation again, for whatever reason. Maybe "Bob" suspected that, too, but maybe not. But to be "Bob" and actually lose the job and find out, for sure, that you're really not a "$100K guy" (because no one will hire you at that pay), well, that's a kick in the gut. If I were "Bob", it would probably take awhile for reality to set in, and when it did I wouldn't feel very good about myself (reduction of self-regard, regret for poor resource decisions made in the past when things were rosy, etc). These feelings would be more serious if the job was really most of what my self-worth was dependent upon (no consuming hobbies, not a social animal, few family ties). I might be shell-shocked for awhile.
So, enough groundless analysis.
Sooner or later the OP is going to hit some situation that prompts him to act. It might be the realization right now that he's burning through assets quickly and he needs to act, as each day the boat that needs to take him to social security and beyond (his savings) takes on more water. Or, he may wait and defer dealing with the situation for a long time---clearly he could continue to pay his present rent and live as he has been for three more years, then he'll have no resources, be evicted, and then he'll take action. I think taking action right now will do two things: 1) Stop the resource hemorrhaging and allow him a better quality of life 2) Benefit him emotionally by directing his thoughts and energies in a positive direction. Fixing his situation becomes his new "work," and getting his ship in order will provide a sense of personal satisfaction that is probably lacking right now. But, only the OP can take choose which path to take.