How do retired people make a living?
Topic: How to prepare a business plan free
June 24, 2019 / By Alton Question:
When i think about it retired people don't work. But that leaves out the bills of the house that he/she lives in that has to be paid and that takes money, but how do they get it?
Best Answers: How do retired people make a living?
Thea | 9 days ago
The majority of retired people worked over 30+ years and skimped, saved & invested to prepare for their retirement. Some paid into pension plans which was matched by employers. Some took risks by investing in American Corporations. Some took risks by investing in themselves by opening businesses - small & larger which later allowed for this retirement. Some retirees are still working part time to suppliment their retirement funds.
If you are a young person, then you must make decisions to commit to working, saving & investing for One's own future. Nothing was ever promised to any of us.
I paid my way for most of my entire life and still do. I am independent.
I am a retiree. I worked for over 30+ for salary. I now work for free as a volunteer because I can.
👍 146 | 👎 9
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Originally Answered: What book title is this? people living underground?
The City of Ember by Jeanne DuPrau
"Unidentified architects and engineers, referred to as "the Builders", designed an underground city with supplies for its inhabitants to survive for 200 years. During that time, the Earth would be uninhabitable for an unspecified reason. After completion of the city, the Builders give the first mayor of the city a locked box that was to be passed down from one mayor to the next. Unknown to the jioon how to return to the surface.
For several generations, the box is faithfully passed down from one mayor to the next until the seventh mayor who, hoping that the box might contain a cure for the deadly cough that was infecting many citizens of the city at the time, takes the box home and tries to break it open. He fails, and dies before he is able to return the box to its rightful place, or inform anyone else of its importance.
The story moves forward to the year 241 where the town is running out of supplies and the massive generator that provides the light and power for the city is on its last legs. At a graduation ceremony where young people are assigned their jobs, Lina Mayfleet is assigned the job of “Pipeworks Laborer", while Doon Harrow gets to be a “Messenger.” Both are unhappy with their assignments, and the two decided to switch jobs.
At home, Lina finds an old piece of paper she salvaged from inside a box. Unknown to her, it is the box that was passed from mayor to mayor. Lina attempts to decipher the letter, but her little sister chewed on it and the letter has holes and is ripped. Finally, she asks Doon to help her reconstruct the letter. After much trial and error they realize it's instructions from the builders on how to exit the city."
there are some government benefits that are received when a person retires, and of course those are from when the person worked and when their employer contributed and when the government invested those funds.
Today a lot more seniors are working, some haven't quit working. The rest live inexpensively, have renters, have a pension, live with relatives, make a few dollars under the table helping out each other, some walk dogs, look in on the elderly, some used to be nurses, some work with AARP or on temp jobs, etc.
👍 50 | 👎 1
Poor innocent........I retired at 52, from the public sector in the UK, and have a pension.......Also have a small income from property and work part time agency work...We own our house now the mortgage is paid and I continue to put funds into a pension fund to mature when I turn 66.....When hit 66 get my State Pension.......Will no longer do agency work then....We should have as much coming in, in real terms, as I brought home when working full time, which is what I manage to do just now too......
We do NOT live on fresh air.....Is about planning and working hard and investing if you can.....Something too many here are NOT doing these days....In the UK, the State Pension is NOT enough to keep body and soul together...BUT we can, unlike many poor Americans on here, rely on the National Health Service and we have such things as FREE off-peak travel on buses, local trains and trams etc once in our 60's......AND a free TV licence once over 75 , as well as a non means tested, winter fuel allowance, if on State Pension.........Insurance etc are cheaper for older people and there ARE discounts to be had....
👍 42 | 👎 -7
During their working years they save and invest money. They usually earn a company pension where they work and they pay into the social security system so they can receive money from that.
By the time they retire they have their house and autos paid for and are completely out of debt except for the monthly utility bills.
There are some who don't do this and they holler for the rest of us to give them a handout.
👍 34 | 👎 -15
In the U.S., if the person has worked all his/her life, he'll get a Social Security check every month although it won't pay for everything unless the person is very frugal. The person, hopefully, has also saved during his work years. These days many companies offer 401K (or the equivalent) for workers to contribute to which is a retirement fund. There's also IRA accounts (or the equivalent). But often even so, these savings and SS may not cover everything so the person has to take on a part-time, full-time or at least some sort of income generating work. My aunt is now somewhere in her mid-80's; her husband retired a few years ago and is in bad health so she had to go back to work in order to get health insurance to cover his medical needs because Medicare doesn't cover them all and although her kids all fofer to help out as best they can, her kids all have young families which aren't cheap to keep. Sometimes, your local utility company can be applied to for a reduction in rates if you are a senior ciizen, sometimes stores and other place also give a slight discount.
👍 26 | 👎 -23
"Retired people don't work?" Wrong. There are plenty retirees still in the workforce.
Depends on personal circumstances. Some were forced to retire, and had to seek work.
When the economy tank, some lost their company pensions and a hit on their 401K's, etc., forcing them to seek work.
Bottom Line: Save as much as you can now, way before retirement. Pretend that account doesn't exist. Pay off your mortgage (if you have one); live beneath your means. Retirement will be here before you know it.
After working 40+ straight years, and having enough of the games played in the workplace, I'm fortunate enough not to sit behind a desk ever again. I'm now mobile - teaching figure skating. I don't have to deal with difficult coworkers-just parents and students. Doesn't pay much, and that's fine by me - I'm living my passion.
👍 18 | 👎 -31
I saved all the money I could for many years. I bought two houses to live in and when I had to move, I could not sell them for enough to pay them off. I had to rent them. I invested my savings in conservative funds. I paid off every credit card, monthly payment and loan before I retired. For a year before I retired, I lived on what my meager income would be, so it wouldn't be a surprise or shock. With the tiny income from my rentals, a $138 a month "pension" from my former employer, and social security, I can live frugally but comfortably. I prepared! I'm living on the money I made. There is NO entitlement here. Only collecting what I already paid into for 50 years.
👍 10 | 👎 -39
First of all, get the house and car paid off before retirement. Where on earth did you get the idea retired people don't work? They are volunteering at schools, hospitals, libraries, senior centers and the neighborhood. You quit moving, you die. I started a couple retirement accounts to supplement SSI, And hope and pray it is enough. Never can tell what the gov has in store for us.
I can retire in a couple of years, don't know if I will.
👍 2 | 👎 -47
Originally Answered: Did people back in the 60s and 70s see themselves as living in a high tech age?
I just read an article today that sort of refers to the way it was viewed then. It seemed everyone thought that the year 2000 was going to be a year that we would have all problems solved by then. I remember in 1950 our newspaper printed an extra tabloid that depicted the year 2000 with homes that were like the Jetsons, so much was going to be done for us robots etc.... ( can you imagine , all the houses would be tore down in that 50 year period) In actuality , our homes now look more like the homes of Victorian times then in the late 1800's. In the 50 and 60s cryogenics was the rage, Now you don't hear anything about it any more as it just is not going to happen , Be frozen in 1950 and get surgery in the year 2000 .
There was movie that was suppose to happen in that decade and two young men were frozen accidentally, One needed kidney surgery, Well in the year about 2000, They are thawed out and The one man was able to get kidney surgery too save his life. The big problem with this would be most were dead when frozen and surviving the freezing would be paramount , not having surgery say to cure cancer!
Yes, we thought we were advanced back then but we knew great strides were ahead of us and today , we know we have just begun on inventions and the modern world that lays ahead of us , both in medicine and inventions.