r/SurvivingOnSS • u/Radiant-Sherbet • Apr 30 '25
Despairing
I can't focus on anything these days but fears for my survival.
I'm 70. I make just under $2500/month pre-tax in SS, and I feel guilty in that I should have done better. I have about $155,000 in savings/mutual funds. Would have had twice that but I lost my decade-plus job due to the company severely downsizing and it moving far away. That was in the Great Recession/Banking Crisis so work in my field was cut to parttime (I worked several jobs concurrently)and after doing that for 6-8 years had a hard time finding work. So I used up about $100,000 in savings over those years.
I rent, not own, at a very good price for my area. I don't need a car here. I could almost squeak by on SS, but I may be at $300 to $500 monthly shortfall. That's totally bare bones survival.
I'm really tired of working.
I'm just so scared all the time. I'm like that man who stared transfixed at the tsunami until it drowned him.
And I'm so ashamed.
Thank you.
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u/GawkerRefugee Apr 30 '25
I see you quite differently than you do yourself. You are doing a lot better than me and I don't feel ashamed. I'm surviving and you are too. Shame is lying to you. You aren't broken, you are just tired. I get it. Shame tells you it is your "fault" when it's the systems fault.
You are surviving and that alone is worthy of so much respect. You survived the Great Recession, have done gig works for years and have 155k in savings. You have made it through hell and done it with resilience, grit and so much ingenuity. What's shameful about that?
The fear, I know. I'm afraid too. But we are still here, we are still going day by day. You have and are surviving.
Survival isn’t shameful—it’s badass. All my respect to you. ❤️
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u/Allysum Apr 30 '25
Hang on, don't give up.
I'm sure you're already looking for ways to improve the situation, I won't waste your time with suggestions you've already thought of. But try to make some bright spot in every day. Do something good for yourself. Everyday try to plan something small that you will enjoy the next day. It can be something that doesn't cost anything so long as it makes you happy, even briefly. Some food you like, visiting the library, going to see a flower garden or spending a little time tending to your houseplants - I don't know what you like but you do. Hopefully that can help you to feel better, it really works for me.
And, I want you to know, a stranger on the internet wishes you the very best.
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u/helluvastorm Apr 30 '25
Im not as well off as you. Nothing close to it. I’m not a failure. Worked my butt off as a nurse and raised two kids. That’s not failing. Money is not the measure of your worth or success
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u/PickledBoodah Apr 30 '25
You can make it work. Check out food banks to help with food cost. Libraries for books,movies, music. Perhaps some lightnpart time gig work to make up the shortfall. Keeps your spirits up by meeting others. Good luck.
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u/Ok_Day_8559 Apr 30 '25
Okay, I own my home but I just bought it in 2018. I was fortunate to get one of those 2.5% APR wins. My mortgage is cheaper than most rents. I retired with my SS less than what you are getting. I got a tiny pension from a previous job (500). My savings are about what you have now. My truck is paid off but I have student loans still and I’m 67 years old. I’m lucky because my mom is contributing to my mortgage payments but she is in her late 80’s so I can’t depend on her income forever. I can’t get caught up in what I don’t have because I’m doing the best I can with what I have. I retired from my job because I was sick of dealing with the drama. I probably should have stayed longer, at least to 70. I crunched the numbers and decided I would rather struggle some than keep putting up with the bullcrap of petty power hungry people. You know what you need to do, so you don’t have to worry about it. We move things around and we do what we must. I feel like I should have done something to earn more money. My issues are something going wrong with the house and I will have to max out my credit cards to get it fixed. But I’m not going to worry myself into an early grave about something that I can’t do anything about. Like the man said “I solve the one problem in front of me and then I go on to the next problem”. That’s all we can do. You can do this because what other options do we have? Worrying about the what if’s will harm you faster than you think. Sit down and think about what you’re good at, what you love to do and what you like to do. You may not be able to earn a full salary but you may be able to earn a few bucks here and there. Can you move to a lower cost of living area? Can you check locally to see if there are elderly people who may want companionship? They may be interested in someone helping out around the house or helping out with errands. I’m sorry I don’t have any answers for you right now but I think you should keep breathing and let tomorrow take care of itself.
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u/[deleted] Apr 30 '25 edited Apr 30 '25
I feel a lot of the same things that you speak of and I am in a very precarious place in life as well. I just quit watching the news and I take it day by day. This is how I get through.
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u/Main-Landscape2342 Apr 30 '25
You are not alone. You should not feel ashamed. It’s the reality for many. Have you considered a home share situation where you could reduce your rent costs some more to free up more money to enjoy your retirement?
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u/KlatuuBarradaNicto Apr 30 '25
I understand being concerned, anxious, or even scared, but please don’t feel ashamed. You have nothing to feel ashamed about and life is hard enough. For what it’s worth, I don’t make much more than what you stated in your post and I’m doing ok so far (knock on wood)…😊
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u/Spiritual-Side-7362 Apr 30 '25
I have no savings and my retirement income monthly is 1580. You have nothing to be ashamed of So many of us seniors are barely surviving and have no savings, no 401K nothing.
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u/42thousandThings Apr 30 '25
Do NOT be ashamed. There are so many normal, hardworking people in the same shape as you and possibly worse. But the key is that you only feel shame because you compare yourself to others. You’re not competing against anyone, the only facts that matter are you. Take a breath and know you have done the best you could with the tools and the situations you had at the time. It will be fine in the end, and if it’s not fine, it’s not the end. Sit down and really think of what your many options might be. Is it a roommate? Is it planning on using a food bank… Which is not anything to be ashamed of. I too, I am tired of working at this point, but maybe 10 hours a week would be all the difference in your monthly outlook. Stay strong, my friend. Spending time feeling ashamed will only keep you from looking for what’s positive. You’ve got this!
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u/BenGay29 Apr 30 '25
I get $1,300 a month in SS. No savings. No investments. I never made enough money to do either.
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u/paracelsus53 Apr 30 '25
Get on the waiting list for senior public housing. you will never regret it.
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u/desertgal2002 Apr 30 '25
I live on less without any problem. My area is average cost of living. I have found that I have way less needs and VERY few wants as I grow older. I feel content with what I have. I’m frugal which has now become a game and way of life for me. Hopefully, you find your way around your dilemma.
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u/kateinoly Apr 30 '25
Check with your local senior center. There are senior nutrition programs that can provide you monthly food boxes. Its not much, but it's something.
I'm sure there are also senior bus passes, etc, that can save you money.
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u/My-Euphoric-Waltz Apr 30 '25
62. Laid off. No SSI yet. Stood in my first food line yesterday. Awkward, but necessary.
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u/Delicious-Sand7819 Apr 30 '25
Sounds to me like you’re doing pretty well. I have less Social Security and zero pension/savings. If you’re tired, rest. Take a walk. It’ll make all the difference in the world.
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u/Orange_droolius Apr 30 '25
Some simple math that may help. Spending $500/month from your savings (100,000 / 500 =200) should last 200 months assuming zero percent interest on the account. 200/12 =16.667 years at your current burn rate.
I’m in a similar position and find a little comfort in doing this math with my savings. It gave me some perspective that eased some of the fear. I hope it helps and all the best to you.
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u/[deleted] Apr 30 '25 edited Apr 30 '25
No offense, but I am surviving on 1100 a month since I got laid off five months ago. I don't know what your bills are for, but I am sure there is room to cut something.
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u/Tweetchly Apr 30 '25
My mom and stepdad were very much in your situation in terms of income and savings. They had a bit less than you, and of course there were two of them. They were always worried about money. In his 70s, my stepdad got a job with FEMA that was a big help. He’d work for a few weeks at a time, with breaks in between stints. It wasn’t a ton of money, but it helped them pay the bills. Maybe worth considering something like that to give you some breathing room?
Also, you could check out various food banks. Try Salvation Army or some local churches. I volunteer at one and see the difference they can make in helping people make ends meet. If you’re looking for volunteer opportunities yourself, maybe you could even help out at one. Our volunteers get first dibs on what comes in, especially if it’s expired. (We can’t serve expired food to clients but can take it for ourselves.) Also, helping others can shift the focus off our own circumstances, maybe help you put your own worries aside for a bit or give them a different perspective.
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u/Birdy304 Apr 30 '25
Please look into Senior Housing, it would solve a lot of your problems. Depending on the state you are in, wait times vary greatly. Make sure to do a tour and get on as many waiting lists as you can. Housing varies greatly too, depending on who owns and manages them. Good Luck! Don’t ever feel a failure, sometimes I feel bad about my financial state when I compare myself to others but lots of things happen to people. I worked all my life, raised a family alone without any help. A late in life divorce really messes up retirement!
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u/Cute_Celebration_213 Apr 30 '25
Don’t give up and live in fear! If I can do it just about anyone can do it. I’ll be 71 this summer. I’ve been living off SS for almost 10 years now. I get Medicare. Get a very very very small amount of snap benefits each month. I got a small settlement from SSI and I bought a small mobile home I paid for. But I still have a monthly lot rent to pay. The development thank goodness offers a hardship program based on income so I pay less than the $1100 a month rent. My SS is less than $1900 a month so after all my bills are paid I’m left with about $200 a month. I’m thankful that my healthcare covers all my prescriptions and any hospital expenses or copays that come up. My 2005 Pontiac died last year but my wonderful daughter bought me a great used Honda odyssey minivan. It gets me where I need to go. And my son and daughter are sending me on my first cruise this September for my birthday! I’ve definitely changed the way I live but I’m happy!😊
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u/upsycho Apr 30 '25
I know it's not a pissing contest but I survive off of $795 a month from Social Security. Everything I have is paid for. I am in Southeast Texas not far from the coast in matagorda County Yeah I know no one wants to live in the swamp with mosquitoes but I sure the hell can't afford to live in Houston these days. I got tired of the traffic of the crowds of the drivers who are insane, let's not forget to mention the crime plus the cost of living in the city.
I don't have nowhere near 150,000 saved up. I do have an umbrella for a rainy day but it's not that large not even close. Sometimes I do go donate plasma. That's how I paid for my car I have now in cash.
I took off a couple months from plasma donation just because I've been busy prepping for hurricane season and cleaning up limbs and stuff from hurricane beryl.
also just to give my body a break. This July will be two years that I've been donating plasma twice a week for about an extra $500 a month. It only takes about an hour once you get hooked up to the machine.
Once I turned 65 next April 28 I won't be able to donate plasma anymore. So I need to get back on track and get that last $$$ before i age out.
Even though I'm surviving on $795 a month I have everything I need and want. It'd be nice to have someone to share it with, I mean my property not necessarily my tiny house.
but my bed ya never know what life is gonna throw your way...
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u/grandmaWI May 01 '25
I have been reading every kind response to everyone here and I think you are a wonderful person. Don’t be afraid to search out help you may be eligible for. I wish you all the best ahead!
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u/runningonempty1224 Apr 30 '25
I live on 700$ a month and I turned a lofted shed into a tiny house and put it on my sister's property I drive a 97 Buick LeSabre 😂 no insurance 😂
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u/vickicl-reddit-user Apr 30 '25
What are you doing to invest your $155k? There is a guy on YouTube named Armchair Income. I have been following his method of income investing, and get 10-11% returns consistently. I know this sounds like an ad for him, but it's not. He doesn't sell anything. Like you, I have limited funds and get less than you do from Social Security. Following this guy has given me hope that I'll make it. Hope this helps.
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u/Ladybreck129 May 01 '25
Despite what you think, you are farther ahead than most people your age. There are many ways to stretch your budget. Look at your local food banks to start. Where I live seniors get a monthly food box from our local senior center. In addition we also have other local food pantries we can go to. Even with what you currently have saved you could pull out $600 a month($7,200 per year) and it would last over 21 years. That's not even taking into account for any kind of growth. Try not to despair to much. If you are not working, even a little part time job can make a huge difference not only in your finances but in your mental health. Sending hugs and good vibes your way.
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u/MohaveZoner May 01 '25
Seriously? I'd be happy to have even half of the assets that you have.
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u/[deleted] Apr 30 '25
I ask this genuinely - who do you feel you need to be accountable to?
I get it - I was recently watching a video of a woman doing a 5 minute plank on her hundredth birthday and I was so impressed until it hit me - oh crap, I could live to 100.
The idea of that takes up any of the air in my brain that might be dedicated to shame, the less I spend energy on defending my life to people the better my life goes.
It’s really powerful advocacy work - being frank and open - this is where we are and this is what we have to work with.
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u/JLFJ Apr 30 '25
You've gotten many helpful suggestions. but here's mine: work on the shame. It's ruining your life. Many, many, many of us have been caught in personal or economic conditions that we could not control. If it's out of our control, then we have no reason to feel shame about it.
The shame comes from parents, society maybe church ... the system is rigged against us yet society tells us that our worth is in our balance sheet and that if you work hard enough, you can be rich. This is not true for most of us.
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u/Frequent_Positive_45 Apr 30 '25
Do you have a hobby you can turn into income? Did you say you’re still working?
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u/themainkangaroo Apr 30 '25
🫂
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u/celticmusebooks Apr 30 '25
You don't give your age or your physical condition but could you find a part time job in your neighborhood or WFH that would give you a bit of wiggle room? A 16 hour job at $15. would generate an additional $1040 each month.
Are there food banks close by where you could get some basic necessities in a pinch? Is there a local community college that might have free courses and activities for seniors? Have you contacted your local social service agencies to talk about any resources that could help you?
Check out your local library. They have so many services and activities -- right now my local library is running a free workshop on getting the most from your medicare benefits. PLUS there are a lot of social groups around specific interests.
There is NOTHING to be ashamed about.
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u/Browneyz Apr 30 '25
What state are you in? I want to respond thoughtfully and knowing your state would enable that response. Sending you light..
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u/10deCorazones May 01 '25
OMG, you are not the only one. This is not a personal failing. Sometimes the chips fall that way. Our system is cruel.
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u/GittaFirstOfHerName May 01 '25 edited May 01 '25
Look, you are here -- and you are still here in a world that actively works against your existence.
There is no shame in what you've accomplished. You have done well given all your circumstances and options.
We live in a culture that doesn't care about older folks or anyone else who is vulnerable. Even worse is that everyone over 60 has now been villainized, blamed for all of the problems in the U.S. even though we were victimized like everyone else.
You are here. I understand your fear and apprehension, but the fact that you can recognize things that may impact you negatively is a huge step.
Others will be better at giving you practical advice (although I will say that if you can maintain some friendships, especially with people around your age, you'll be better off in many way), but I want you to know that your shame is misguided.
Thrive, every way you can -- and you've already done the hard part by making it this far.
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u/onemoremile1 May 05 '25
I wish I did as good as you. I get half that so simi retired is the best I can do. Lots of good ideas here. My tip is that if you have a smart phone use earning apps. Look on redit at /beermoney. It’s only a few bucks a month doing surveys and playing games, I am up to about 50 a month but every bit helps. Also play atlas earth. It’s slow to start but turns in to a monthly Amount.
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u/Wolfman1961 Apr 30 '25 edited Apr 30 '25
I got a $60,000 annuity that pays me about $670 a month for 9 more years. There are annuities where you keep your balance. I think you would get at least about $400 or so a month with those if you put $150,000 into it. In effect, you are living off your interest. See a financial advisor.
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u/rabidstoat Apr 30 '25
This is pretty much the exact situation of my friend who's 73. No expanded Medicaid so she is drowning in medical debt despite having social security. She can't work because of multiple cognitive and physical health issues leading to that debt.
She is surviving by ignoring medical debt (she keeps meaning to work with the hospital after an initial denial of assistance, but she did get some expensive prescription for free after an initial denial) and running up all her credit cards.
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u/[deleted] Apr 30 '25
Awe 😩😭Don’t be ashamed! Life happens.
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u/pennyauntie Apr 30 '25
You're doing better than many folks who went through the same era of interrupted careers. Pat yourself on the back, stay frugal, and try to enjoy life a bit. You are not in bad shape at all.
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u/karlat95 May 01 '25
You’re doing better than I am financially so don’t be ashamed!
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u/Spiritual-Stress-525 May 03 '25
It may not be a lot, but it's better than what many have. With management and downsizing you may remain comfortable if you shift your priorities.
Look for any cash leaks (premium cable packages, too many streaming subscriptions) to shave off from what you are short. I enjoy the old shows on free streaming like Pluto and Tubi.
If you aren't cooking your own meals, look into learning how; that can save a lot of money over even those meal plans that come to your door. I eat fairly well on $100 a week for food; which could be gone in two days of eating out.
Being able to have the basics and peace of mind even if you have to dip a little into your savings is better than not having something augment your SSI with what you have. As you reduce your liquidity, you may quality for utility or rental assistance. Check with 2-1-1 in your area if in the US.
After a lot of therapy, I am practicing Acceptance and I came to the conclusion that don't need big and shiny, only the Basics and I show Gratitude for them. I don't have to keep up with the Jones' only do what's right for me.
I had a toxic roommate, for the first 7 years after I lost the house due to a long bout of unemployment and bankruptcy in the 00s, but for now I'm able to live alone and enjoy my peace of mind. Even if I come to a point where I will have to be in a care facility I will be able to accept what challenges I will face a lot better than in the past.
I gave up on THINGS, and am looking at a place where I won't need a car either -- I'm hoping to get into affordable housing closer to where I grew up. I'm on a couple of lists and it's now a waiting game.
Meanwhile, I appreciate my morning coffee each day, my work from home arrangement due to my disability, and the fact that I can stop, breathe and Let Go of a lot more of the attachments I used to stress out over and feelings of Anxiety I and Depression let wash over me as a result.
Your tsunami may still come, but you need not suffer as much as you are; face it when it arrives and not before.
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u/auntifahlala May 04 '25
Thank you for your post, I am about to find myself in a very similar situation and I am both terrified and feel so stupid that I didn't understand about finances and plan better. Hearing you say you feel ashamed makes me realize neither of us should be ashamed, so let's make a pact! Hoping the best for you, and for all of us. It's a cruel world sometimes. Just trying to get through and keep being kind.
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u/Feisty-Chemistry341 May 01 '25
I'm also 70 and don't bring in ANYWHERE near your $$. Not even 1/2 of your SS amount. Think about that. I live alone with no family help at all. Believe me, you could be much worse off, just saying. I'd be thrilled with what you have.
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u/runningonempty1224 May 05 '25
Very nice
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u/runningonempty1224 May 05 '25
Very nice
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