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SoCalDem

(103,856 posts)

122. Did you EVER think you would stil be paying student loans at 62?

Mon Nov 10, 2014, 08:03 AM

Nov 2014

Debt is what has crushed the (formerly) middle class..

We are living totally on SS (and my small pension) It sucks to be bringing in less than half of what we had before my husband retired, but we are managing.

We saved every penny of his wages for the last 3 years, so we have savings, and we plan to never touch the 401-k because it's not going to last long once we start taking out (other than the mandatory withdrawal each year)

The only way seniors can live decently is to have no rent/mortgage payments and no car payments and no debt..especially when one of the couple dies..My pension will still pay my husband 3/4 of what we get now, but my SS will go away.. If he dies first, my SS will go..

And since we never know how much medical debt we could get stuvk with, so it;s a pretty intimidating time to be old..

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Highlight:

Life as the new Lower Middle Class. [View all] leftyladyfrommo Nov 2014 OP

For clothing and housewares, check out thrift stores. raging moderate Nov 2014 #1

I also recommend thrift stores. LuvNewcastle Nov 2014 #55

3rd LiberalLoner Nov 2014 #71

Yea, I resemble that liberalmike27 Nov 2014 #96

It could be worse walkingman Nov 2014 #127

Watch out for that clothing!! CountAllVotes Nov 2014 #94

We have one nearby that has $1.00 bag days. Anything you can get in the bag for a buck. B Calm Nov 2014 #95

So true! peace13 Nov 2014 #2

Communal living for sure starroute Nov 2014 #5

Agree marions ghost Nov 2014 #7

Umhm, and it's also the way of the past and of the present for many very functional, and Hortensis Nov 2014 #30

I am talking about marions ghost Nov 2014 #31

I hope not, Marion's Ghost. We're a fabulously wealthy nation. Let's copy our grandparents and Hortensis Nov 2014 #35

My view is not so rosy marions ghost Nov 2014 #48

oh yeah they're already doing that here in nh redruddyred Nov 2014 #99

Old farmhouses marions ghost Nov 2014 #112

the biggest barrier, imo, is people's inability to get along w/ each other redruddyred Nov 2014 #115

I know marions ghost Nov 2014 #117

I think we are socialized from birth to act like assholes. thanks neocapitalism. redruddyred Nov 2014 #120

Young people plan on different futures. How do old people decide on the financial arrangements, if WinkyDink Nov 2014 #23

You can write a will giving your assets to anybody you want. former9thward Nov 2014 #27

Have you ever tried communal living? Warpy Nov 2014 #34

None of us are interested in living with strangers leftyladyfrommo Nov 2014 #65

No kidding! Warpy Nov 2014 #80

Living with Roomies While Young liberalmike27 Nov 2014 #97

As a married person ... CountAllVotes Nov 2014 #3

Pretty much our story too. Skidmore Nov 2014 #88

I have nothing but old stuff as well CountAllVotes Nov 2014 #89

I hear you. Skidmore Nov 2014 #92

Thank you CountAllVotes Nov 2014 #93

oh yeah disability payments are ridiculous. redruddyred Nov 2014 #100

Some one on SSI gets more $$$ and help than I do CountAllVotes Nov 2014 #108

yeah I think if you don't work and get paid poorly you get better benefits. redruddyred Nov 2014 #114

What is red tagging? JimDandy Nov 2014 #103

It was a clear case of misrepresentation CountAllVotes Nov 2014 #107

Recommended because for true, that is the new reality for so many of us. Autumn Nov 2014 #4

Have you tried shopping for better insurance rates lately? There can be quite a difference. n/t pnwmom Nov 2014 #9

You are sounding like a GEICO ad salib Nov 2014 #12

AAA lowered my insurance costs quite a bit. Geico couldn't even come close. magical thyme Nov 2014 #13

My mother's house insurance went up by 50% in one year for no apparent reason, pnwmom Nov 2014 #19

I live on 1/4th what I made 15 years ago, which was the end of my peak magical thyme Nov 2014 #14

Move way out? Way way out? Don't move too far out. Enthusiast Nov 2014 #17

Do pay attention to the fact that there is SheilaT Nov 2014 #22

that money comes back to you once you reach full retirement age magical thyme Nov 2014 #26

Just as long as the reduction SheilaT Nov 2014 #47

any reduction now is made up for later, when I fully retire magical thyme Nov 2014 #59

Did you EVER think you would stil be paying student loans at 62? SoCalDem Nov 2014 #122

I did because I went back to school late. however I also expected magical thyme Nov 2014 #125

We are all good at thrift stores. leftyladyfrommo Nov 2014 #6

waiting.... shanti Nov 2014 #8

You realize your dirt cheap medical insurance wouldn't have covered you for anything important? pnwmom Nov 2014 #10

But the banks are reporting record profits, we made sure of that. Feel better yet? n/t jtuck004 Nov 2014 #11

That use to be called "Working Class". happyslug Nov 2014 #15

This is Why the Koch Brothers and their Ilk Want a Theocracy AndyTiedye Nov 2014 #33

Educate me tabasco Nov 2014 #36

Koch do NOT want a Theocracy, unless it is one based on Ayn Rand. happyslug Nov 2014 #41

YAY, a fellow Marxist! Odin2005 Nov 2014 #40

Actually I am a radical capitalist....But in many ways so was Marx. happyslug Nov 2014 #46

Your post is spot on. Paper Roses Nov 2014 #16

Solo living is a luxury Boomer Nov 2014 #18

Not if you're not too particular Warpy Nov 2014 #37

Trailers might be OK in areas that aren't prone to tornadoes Art_from_Ark Nov 2014 #49

The probability of being hit is very small. Warpy Nov 2014 #50

Where I'm from, any time there's a tornado, Art_from_Ark Nov 2014 #54

We get occasional tornadoes but they're mostly on the other side of the mountains, Warpy Nov 2014 #56

On the other hand, they seem to be getting more frequent in my old stomping grounds Art_from_Ark Nov 2014 #58

There are some nice trailer parks now. leftyladyfrommo Nov 2014 #66

The woman next door to me had a basset hound and a chow Warpy Nov 2014 #81

Not the American Dream Boomer Nov 2014 #62

I'm terribly introverted Warpy Nov 2014 #64

You are not describing lower middle class. SheilaT Nov 2014 #20

+1 Go Vols Nov 2014 #90

According to most Republicans, you are wealthy Yavin4 Nov 2014 #21

According to our neighbors here, if you're not them specifically or affluent, you're unworthy, Hortensis Nov 2014 #25

people in india don't live in mud huts tho redruddyred Nov 2014 #101

The new reality is that most households are a couple paychecks away SomethingFishy Nov 2014 #24

I like LL Bean for clothes and shoes. Higher initial cost, but Erich Bloodaxe BSN Nov 2014 #28

You have described me and the majority of my friends. nruthie Nov 2014 #29

welcome to DU marions ghost Nov 2014 #32

Widowed or divorced. leftyladyfrommo Nov 2014 #42

That is me, and you are spot on correct. RiverLover Nov 2014 #60

Underemployment One_Life_To_Give Nov 2014 #38

It's such a waste of human resources leftyladyfrommo Nov 2014 #43

It sounds like it will only get worse. leftyladyfrommo Nov 2014 #45

Don't worry, the Job Creators are creating jobs Jon Ace Nov 2014 #57

We could allpack up and move to China leftyladyfrommo Nov 2014 #67

Engineering/Professional Work too in China One_Life_To_Give Nov 2014 #73

The correct term is WORKING CLASS. Odin2005 Nov 2014 #39

Except we aren't working. leftyladyfrommo Nov 2014 #44

More like "desperately need work" class. nt eppur_se_muova Nov 2014 #79

This is the agenda of the Koch Bros...and a few others, Walton's etc. This is what they want randys1 Nov 2014 #51

If you can't afford fresh fruit and veg, you're not middle class, even lower middle class Warpy Nov 2014 #52

The American Middle Class Is No Longer the World�s Richest RiverLover Nov 2014 #61

My house is 750sq ft. leftyladyfrommo Nov 2014 #68

That's about how big my house is Warpy Nov 2014 #82

That sounds like the house I have CountAllVotes Nov 2014 #110

sounds like you are all single hfojvt Nov 2014 #53

We don't want to get married. leftyladyfrommo Nov 2014 #69

so there it is hfojvt Nov 2014 #75

Have you tried Match.com? leftyladyfrommo Nov 2014 #77

yes I have, two or three times hfojvt Nov 2014 #78

"you'd rather be poor than married"... bhikkhu Nov 2014 #119

About cooking economically for one or two people: DebJ Nov 2014 #63

Thankyou for writing all that down. leftyladyfrommo Nov 2014 #70

I do much the same you do food-wise...I sprang for a chest freezer a few years ago magical thyme Nov 2014 #84

It would be fun to have you as a neighbor. We think alike. DebJ Nov 2014 #123

It's a lot of work in the spring, and a lot of work at harvest magical thyme Nov 2014 #126

Your post is one of the best arguments for (Democratic) Socialism I have read in KingCharlemagne Nov 2014 #87

:) DebJ Nov 2014 #124

"We didn't vote Republican." whereisjustice Nov 2014 #72

^^^^^^^^^^^^^^^^^^^^^n/t truedelphi Nov 2014 #98

^^^+1 ladyVet Nov 2014 #118

+100 840high Nov 2014 #128

I am so glad we didn't buy a bigger house 15 years ago CrispyQ Nov 2014 #74

That's why I do frozen. n/t leftyladyfrommo Nov 2014 #76

you can't shortchange your health tho. redruddyred Nov 2014 #102

Add: Looking for trinkets and collectibles to sell on E-Bay or Craigslist. joanbarnes Nov 2014 #83

I hear whining.... GTurck Nov 2014 #85

$49,500 for a fitted out railway container car. leftyladyfrommo Nov 2014 #86

If you are willing to do that, used mobile homes are often very inexpensive. missingthebigdog Nov 2014 #104

There's no middle class. There's the poor and the almost poor. hobbit709 Nov 2014 #91

class enid602 Nov 2014 #105

We are also 'lower middle class' Stonepounder Nov 2014 #106

Somebody looked into my life libodem Nov 2014 #109

I have so many single female friends struggling like you describe kimbutgar Nov 2014 #111

I can definitely relate to that. Spiggitzfan Nov 2014 #113

Prices on everything are 10 times as high as they were in the mid 1960's. roamer65 Nov 2014 #116

My first apartment was leftyladyfrommo Nov 2014 #121

Pehaps a new name should UglyGreed Nov 2014 #129