Can retirement be done at 62 with no money?

[Dr.Destructo]

Yes, I know all the arguements.
Yes, I have scoured the internet for information.
Yes, I know it's difficult to be retired without money.
I've heard it all.

But there's always a way around something. Even retirement with no savings.

I turn 62 this year, and I'd like to retire.
SSI will only pay $900 a month, I've checked.
So that means I HAVE to have a part time job.
I get that.

But just like rich people have ways of getting out of paying taxes......................
there's got to be some ways poor people can retire and keep the level of life they currently have.

I've become a budget master over the years.
I've gone "minimalist" as far as my living conditions go.
I've sold everything thats worth a penny.
I go to 2 food banks twice a month for most of my food supplies.

But I have medical conditions now, that I will need insurance for.
I have medications I have to buy.
And I have the other necessities like car maintenance that is needed, as well as insurance.

So, just wondering.....................
Does anybody know how one can retire "early" on the basics and keep the lifestyle they currently are at?


NO TROLLING PLEASE.
Only serious responses.

 

[1srelluc]

Go for it, make new friends.

 

[Rambunctious]

You have to have a steady flow of income whether its from a pension or retirement plan from work...

 

[Fort Fun Indiana]

Yes, I know all the arguements.
Yes, I have scoured the internet for information.
Yes, I know it's difficult to be retired without money.
I've heard it all.

But there's always a way around something. Even retirement with no savings.

I turn 62 this year, and I'd like to retire.
SSI will only pay $900 a month, I've checked.
So that means I HAVE to have a part time job.
I get that.

But just like rich people have ways of getting out of paying taxes......................
there's got to be some ways poor people can retire and keep the level of life they currently have.

I've become a budget master over the years.
I've gone "minimalist" as far as my living conditions go.
I've sold everything thats worth a penny.
I go to 2 food banks twice a month for most of my food supplies.

But I have medical conditions now, that I will need insurance for.
I have medications I have to buy.
And I have the other necessities like car maintenance that is needed, as well as insurance.

So, just wondering.....................
Does anybody know how one can retire "early" on the basics and keep the lifestyle they currently are at?


NO TROLLING PLEASE.
Only serious responses.
View attachment 1060480

Sure! We call it homelessness.

 

[Admiral Rockwell Tory]

Yes, I know all the arguements.
Yes, I have scoured the internet for information.
Yes, I know it's difficult to be retired without money.
I've heard it all.

But there's always a way around something. Even retirement with no savings.

I turn 62 this year, and I'd like to retire.
SSI will only pay $900 a month, I've checked.
So that means I HAVE to have a part time job.
I get that.

But just like rich people have ways of getting out of paying taxes......................
there's got to be some ways poor people can retire and keep the level of life they currently have.

I've become a budget master over the years.
I've gone "minimalist" as far as my living conditions go.
I've sold everything thats worth a penny.
I go to 2 food banks twice a month for most of my food supplies.

But I have medical conditions now, that I will need insurance for.
I have medications I have to buy.
And I have the other necessities like car maintenance that is needed, as well as insurance.

So, just wondering.....................
Does anybody know how one can retire "early" on the basics and keep the lifestyle they currently are at?


NO TROLLING PLEASE.
Only serious responses.
View attachment 1060480

SSI will pay you nothing if you aren't already retired under regular SS and apply for SSI. You have your terms confused. SSI is Supplemental Security Income. It is not the retirement you paid into all these years. That amount is based on how much money you made. For example, my early retirement at 62 was about $1500 a month. My wife's SS at age 65 is about $1100 a month plus she has to pay for her Medicare, Parts A, B, and D, plus a Medicare Supplement.

At 62 you will draw early retirement just like I did. If you exceed the limit on income, you will have part of your retirement money withheld. You will not be eligible for Medicare until age 65, so you will need medical coverage. Medicaid is a possibility depending on how much money you have.

 

[Crepitus]

Yes, I know all the arguements.
Yes, I have scoured the internet for information.
Yes, I know it's difficult to be retired without money.
I've heard it all.

But there's always a way around something. Even retirement with no savings.

I turn 62 this year, and I'd like to retire.
SSI will only pay $900 a month, I've checked.
So that means I HAVE to have a part time job.
I get that.

But just like rich people have ways of getting out of paying taxes......................
there's got to be some ways poor people can retire and keep the level of life they currently have.

I've become a budget master over the years.
I've gone "minimalist" as far as my living conditions go.
I've sold everything thats worth a penny.
I go to 2 food banks twice a month for most of my food supplies.

But I have medical conditions now, that I will need insurance for.
I have medications I have to buy.
And I have the other necessities like car maintenance that is needed, as well as insurance.

So, just wondering.....................
Does anybody know how one can retire "early" on the basics and keep the lifestyle they currently are at?


NO TROLLING PLEASE.
Only serious responses.
View attachment 1060480

What's the problem, can't reach your bootstraps?

You're unlikely to be able to retire on $900 a month unless you wanna live in a van down by the river.

Even here in KS you're gonna need twice that to keep a roof over your head.

 

[sparky]

SS isn't going to keep anyone in top shelf........~S~

 

[Dr.Destructo]

SSI will pay you nothing if you aren't already retired under regular SS and apply for SSI. You have your terms confused. SSI is Supplemental Security Income. It is not the retirement you paid into all these years. That amount is based on how much money you made. For example, my early retirement at 62 was about $1500 a month. My wife's SS at age 65 is about $1100 a month plus she has to pay for her Medicare, Parts A, B, and D, plus a Medicare Supplement.

At 62 you will draw early retirement just like I did. If you exceed the limit on income, you will have part of your retirement money withheld. You will not be eligible for Medicare until age 65, so you will need medical coverage. Medicaid is a possibility depending on how much money you have.

Yeah, I get all those terms confused.
It's such a shitfest of bullshit.

 

[Dr.Destructo]

What's the problem, can't reach your bootstraps?

You're unlikely to be able to retire on $900 a month unless you wanna live in a van down by the river.

Even here in KS you're gonna need twice that to keep a roof over your head.

Thats why I said I know I'd need a part time job. DUH!!!

 

[Dr.Destructo]

Go for it, make new friends.

I'm not above myself for a little panhandling on the side.................

But with all the anti-homeless people agendas states have now, thats not going to be possible.

There used to be panhandlers all over DFW, but nowadays...........none. You don't see them anywhere.

 

[sparky]

It's such a shitfest of bullshit.

I'm sure you're getting all the dead trees in the mail, along with the spam on every communicative device you own Doc.........~S~

 

[Dr.Destructo]

I'm sure you're getting all the dead trees in the mail, along with the spam on every communicative device you own Doc.........~S~

Actually, no.

 

[Polishprince]

SSI is welfare, you only qualify if you are 65 or older, blind or disabled. And if you are on SSI and get a job, they reduce your benefit.

Maybe you can become a "king of the road" in retirement?

 

[Arlette]

Yes, I know all the arguements.
Yes, I have scoured the internet for information.
Yes, I know it's difficult to be retired without money.
I've heard it all.

But there's always a way around something. Even retirement with no savings.

I turn 62 this year, and I'd like to retire.
SSI will only pay $900 a month, I've checked.
So that means I HAVE to have a part time job.
I get that.

But just like rich people have ways of getting out of paying taxes......................
there's got to be some ways poor people can retire and keep the level of life they currently have.

I've become a budget master over the years.
I've gone "minimalist" as far as my living conditions go.
I've sold everything thats worth a penny.
I go to 2 food banks twice a month for most of my food supplies.

But I have medical conditions now, that I will need insurance for.
I have medications I have to buy.
And I have the other necessities like car maintenance that is needed, as well as insurance.

So, just wondering.....................
Does anybody know how one can retire "early" on the basics and keep the lifestyle they currently are at?


NO TROLLING PLEASE.
Only serious responses.
View attachment 1060480

You have to rob a bank/turn to some sort of crime.

 

[skews13]

Yes, I know all the arguements.
Yes, I have scoured the internet for information.
Yes, I know it's difficult to be retired without money.
I've heard it all.

But there's always a way around something. Even retirement with no savings.

I turn 62 this year, and I'd like to retire.
SSI will only pay $900 a month, I've checked.
So that means I HAVE to have a part time job.
I get that.

But just like rich people have ways of getting out of paying taxes......................
there's got to be some ways poor people can retire and keep the level of life they currently have.

I've become a budget master over the years.
I've gone "minimalist" as far as my living conditions go.
I've sold everything thats worth a penny.
I go to 2 food banks twice a month for most of my food supplies.

But I have medical conditions now, that I will need insurance for.
I have medications I have to buy.
And I have the other necessities like car maintenance that is needed, as well as insurance.

So, just wondering.....................
Does anybody know how one can retire "early" on the basics and keep the lifestyle they currently are at?


NO TROLLING PLEASE.
Only serious responses.
View attachment 1060480

Yeah, you're doing fine. Just keep voting Republican. It seems to be working out for you really well.

 

[WorldWatcher]

So that means I HAVE to have a part time job.

Be aware (as Duke mentioned), that if you take SS prior to full retirement age.

SS Benefits will be reduced by $1 for every $2 of income above a certain limit. For 2024, IIRC, that was around $22,000.

WW

 

[Yarddog]

I'm not above myself for a little panhandling on the side.................

But with all the anti-homeless people agendas states have now, thats not going to be possible.

There used to be panhandlers all over DFW, but nowadays...........none. You don't see them anywhere.

Gotta make yourself the right sign to panhandle with. Make one up that says desperate for work please help.
A lot of people will just give you money, and if someone offers you a job that sound to difficult. Just say you have a
physical limitation.
You never know... you might get lucky and actually find an actual work gig, that isnt hard and can be part time etc..

 

[Rambunctious]

Yeah, you're doing fine. Just keep voting Republican. It seems to be working out for you really well.

Trump will raise the SS payments by stopping the propping up of Ukraine's retirement system and government services... and also ending double taxation....

 

[Arlette]

Trump will raise the SS payments by stopping the propping up of Ukraine's retirement system and government services... and also ending double taxation....

That's what Trumpy said. Let's see what he does.

 

[yidnar]

Yeah, you're doing fine. Just keep voting Republican. It seems to be working out for you really well.

Dems have been in power during the recent cost of living skyrocketing to the stratosphere !