Retirement Plans

[pennypinch]

I have a long way to go before I can even consider retirement but my mother-n-law were talking about her retirement plans the other day since she just turned 60.

She has been a school bus driver for over thirty years. She was hoping to be able to retire in a couple of years but it doesn't look like financially she will be able to. She won't have enough monthly income to live.

We were doing the math and we figured that she would actually be better off retiring from her bus job in two years and then getting a part-time job for a couple of years. She will gain a bigger monthly income this way when she does fully retire.

It's a shame that she won't be able to live on her retirement from her job that she has been at for so long. Very dissapointing for her.

[moneysense]

Yes it is very disappointing that most people who retire arent able to live on what they get from Social Security.

I dont plan on quitting working any time soon and thats just the way it has to be for me too.

Too many time, people who get Social Security can work and have to make choices between house payments, keeping warm, food, and the medicines that they need.

Thats where roommates or living with their children if need be comes into play. Also, there are agencies out there that will help with electricity costs and heating costs in the winter time. There are also food pantries to help with food and many pharmacies have certain medications that can be purchased for like $4 for a months supply of medicine.

So if you have an older retired person in your family, take the time to check into some of these things. It will make life a lot easier on them.