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1 in 3 Florida retirees who receive Social Security survive solely on government checks
Sun Sentinel ^ | 1/23/12 | Donna Gehrke-White

Posted on 01/23/2012 11:37:41 AM PST by Nachum

A third of Florida's nearly 3 million retirees, 65 and older, now rely entirely on Social Security, according to an analysis by AARP. "Folks have spent down their assets," said Jeff Johnson, AARP interim director in Florida. More Floridians are likely to end up only on Social Security than retirees in the rest of the country: A quarter of U.S. retirees, 65 and older, have only their monthly checks as income, Johnson said. Many of the most strapped are Florida's oldest, he added. Florida seniors, 80 and older, are about three times as likely to depend

(Excerpt) Read more at sun-sentinel.com ...


TOPICS:
KEYWORDS: aarp; debt; entitlements; flaprimary; flaseniors; floridas; security; seniors; social; sosh; ssseniors
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To: Venturer

That’s why we’re buying rental houses now, not that we’re looking to make a killing at it, but we figure if we start accumulating properties now, while were still relatively young, by the time we retire, we’ll have a nice little income stream to live on. Yes, there certainly are risks, that’s why you have to research carefully the properties, and think long-term.


21 posted on 01/23/2012 12:20:51 PM PST by dfwgator (Don't wake up in a roadside ditch. Get rid of Romney.)
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To: Venturer
Todays generation is looking at working until they die.

That's me, but I'm not complaining. I knew what I was getting into when we had our 3rd child and I was 48. He'll be 10 next month. If he graduates from college at 22, I'll be 70.

If I'm healthy enough, I prefer to work.

22 posted on 01/23/2012 12:27:33 PM PST by Night Hides Not (My dream ticket for 2012 is John Galt & Dagny Taggart!)
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To: Night Hides Not

Health is always a part of the equation, also when you reach 70 are you in an occupation where you can still be allowed to work at 70.

Police and Firefighters are a bit long in the tooth and a truck drivers time is limited, and at 70, for many people Alzheimers is slipping in along with Arthur Rightis, High Blood Pressure ,Glaucoma,and general weakness. At 69 I am in good shape, but I know I cannot do what I used to do.

I wish you luck though.


23 posted on 01/23/2012 12:52:07 PM PST by Venturer
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To: dfwgator

That seems to be a pretty good way to set yourself up, I know a few people that do it.

Hope you get good renters.


24 posted on 01/23/2012 12:53:45 PM PST by Venturer
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To: Venturer
Hope you get good renters.

That's the key! And my advice, is to not do it yourself, have a real estate agent to filter out the potential renters, it's worth every penny you pay them.

25 posted on 01/23/2012 12:58:10 PM PST by dfwgator (Don't wake up in a roadside ditch. Get rid of Romney.)
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To: oh8eleven
LOL

So your glass if 2/3 full as opposed to 1/3 empty?

26 posted on 01/23/2012 1:06:29 PM PST by Chgogal (WSJ, Kristol, Krauthammer, Rove et. al., STFU. Thank you.)
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To: Night Hides Not

ditto - though not the 3rd kid part :)

I’m of the opinion that we need to bump the age by 1 year every other year to the average mortality 75-85ish - which is pretty much what it was when originally instituted.

In addition, start phasing off anyone under 50. I’m 44 but I don’t expect (nor have I for 10 years now) to get a dime of SS when I finally retired (that is if my wife ever allows it :)


27 posted on 01/23/2012 1:09:22 PM PST by reed13k (Knight Rampant Bibliophile, Protector of Knowledge, Purveyor of Inquiry, Defender of Aged Wisdom, an)
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28 posted on 01/23/2012 1:18:13 PM PST by TheOldLady (FReepmail me to get ON or OFF the ZOT LIGHTNING ping list)
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To: pabianice
No. Most of them own the place where they live and they don't buy much so their expenses are not that high.

Their car may be in good condition but it is older, paid for, they don't commute so their driving is minimal and they don't need "good" work clothes.

When you eliminate the three major expenses, house, car and gas it is surprising how little you need to live on.

29 posted on 01/23/2012 1:20:38 PM PST by Harmless Teddy Bear (In the good times praise His name, In the bad times do the same, In everything give thanks)
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To: Harmless Teddy Bear
When you eliminate the three major expenses, house, car and gas it is surprising how little you need to live on.
Amen. For five to seven years before I retired, I kept on reading/hearing all the "experts" squawking about how you needed at LEAST 80% of your current income to maintain your lifestyle.
As retirement got closer and my finances more clear (and not even close to 80%), it dawned on me that the "experts" were all in the finance/investment industry and were just trying to take my money.
30 posted on 01/23/2012 1:54:12 PM PST by oh8eleven (RVN '67-'68)
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To: Harmless Teddy Bear

When you eliminate the three major expenses, house, car and gas it is surprising how little you need to live on.”

Now if we could only do something about property taxes, school taxes and mandatory insurance on the residence all of which keep increasing every year, we would be fine. My taxes and insurance cost way more than my house payment ever did.


31 posted on 01/23/2012 1:56:23 PM PST by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: Grams A; Harmless Teddy Bear

Don’t forget utilities..water, gas, electricity, telephone, internet, plus groceries,as well as medical, dental and long term care insurance !

Also consider home maintainance...it’s no small item replacing furnaces, central air, roof, etc !


32 posted on 01/23/2012 2:20:20 PM PST by baysider
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To: oh8eleven

“BS. I’m a baby boomer and I can remember since high school being told & taught that SS was just one part of a “three legged stool.”
That some don’t get the message - or choose to ignore it - is their fault not the system’s fault. “

You may have been taught it, but many were not, and many who were so told were also told other things.

The fact is that obviously half of America is relying on ss for their retirement, whether they were “told” not to or not.

The gov’t needs to get OUT of the retirement funding business and let people handle their own money like grown-ups.


33 posted on 01/23/2012 6:06:56 PM PST by Persevero (Homeschooling for Excellence since 1992)
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To: oh8eleven

If I had my own retirement money that my employer and I were forced to send to Washington for my retirement, I would be better off in my old age. Although I have managed to save some for my retirement, I would be much better off having the government return the retirement money they took from me so it would be “safe” for my retirement.

If they want to return that money with interest, that would be fine with me. I don’t expect to just give it to them so they can spend it on more sexual molesting TSA agents, socialist technocrats, corporate welfare receipients, IRS agents, EPA Nazis, domestic spies, and death panels. They will not cut spending and if they do, it will only last until they figure out how to plow the Social security money into the pockets of their “smart” pals.


34 posted on 01/23/2012 6:45:27 PM PST by SaraJohnson
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To: baysider; Harmless Teddy Bear

Don’t forget utilities..water, gas, electricity, telephone, internet, plus groceries,as well as medical, dental and long term care insurance !

Also consider home maintainance...it’s no small item replacing furnaces, central air, roof, etc !”

This list could go on forever. One of the things I find really distressing is that it often seems impossible to make even the minor repairs in a house oneself any more, some due to decreased ability, the other because some things can’t be repaired any more, but must be replaced with something that requires special tools. One of the reasons I keep my current vehicle is because I can still replace the oil. Found out I can’t replace the battery any more though without taking off one of the tires. Simply ridiculous.


35 posted on 01/23/2012 8:04:25 PM PST by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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