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Yes, this is a horrible situation that she is in, and it's extremely sad. However, Social Security is not meant to be lived on; it's meant to simply be a supple
by benbenolson 10y ago
Yes, this is a horrible situation that she is in, and it's extremely sad. However, Social Security is not meant to be lived on; it's meant to simply be a supplement to a retirement that the individual was saving up for their entire working life. Let this simply be a lesson to put money away for retirement, as people have successfully done for centuries.
- jernfrost 10y agoYou can't save up for mishaps of life. Chronic disease, cancer can cost a lot more money than people can save up. That is why you buy insurance in case your house burns down. Catastrophic events are not things you can save up for in advance. Do you suppose that people should save up for in case their car crashes or their house burns down? Of course not. The whole point of insurance is that most people pay in more than they get back. A few take out way more money than they put in. That is acceptable because those who pay more, get safety in return. That is the whole point of a welfare system. Most pay more in than they get back, but they get safety back. They get the certainty that if their life should get screwed up by chronic disease, accidents etc, then there is something to fall back on.
- cloudjacker 10y agoIt wouldnt matter, she went over a decade living off savings and getting by without the journaling gigs she built her career on. Even in your personal finance pro world you would fail to avoid this exact situation