senior citizen income opinion Q

Discussion in 'The Lounge' started by R72K5, Jan 7, 2005.

  1. R72K5

    R72K5 Banned

    Mar 5, 2001
    Likes Received:
    central IL
    for no apparent reason i need an opinion, wierd one yeah..

    would you say that a senior citizen with the following attributes was well off in this world in current time if:

    they were employed as a full time teacher for 20 years,
    worked full time state job for another 20 years after that, about 1300 a month or maybe little more,

    is now retired and works a 30 some hours 7 dollar an hour job and has for a few years now

    gets SSR check monthly for 7 years now
    gets teachers retirement check monthly for 7 years now
    gets 250 a month from renting a house out

    has $12,000 house mortgage
    4,000 property tax annually
    like 150 or so in monthly bills, other than mortgage/taxes

    will not spend except on some necessities, very little food, very little water power usage, nothing spent on building maintanence or anything unless is a real emergency,

    what do you think ?

    just curious
  2. js4x4

    js4x4 1/2 ton status

    Jul 17, 2004
    Likes Received:
    San Diego, CA
    <shrug> fail to see the point of the Q really....if it matters, i'd think the person had better income than I do....but its thier money-let em spend (not spend) it like they want...
  3. driney

    driney 1/2 ton status Premium Member

    Jul 6, 2001
    Likes Received:
    west central illinois
    Lots of things factor in. Just to play devils advocate:
    27 years ago teachers weren't paid much.

    Depending on age SS check for someone that worked 40 years in the state retirement system might not be much.

    As someone that owns rental property, if this figure is gross rent, after expenses this isn't much income.

    For someone retirement age that is that conservative, why still a mortgage? Not saying this is bad, just that there must be a reason.

    This seems like a huge tax bill for a senior citizen with a 250 dollar a month rental.

    Does this include food, medicine, utilities, insurance, transportation? $150 isn't much for everything.

    I guess I'm saying it is hard to know how well off a person is unless you know all the details,(which wouldn't be any of my business).
  4. fatbob

    fatbob 1/2 ton status

    Jul 3, 2003
    Likes Received:
    Phoenix, Az
    That rental house dont even pay their property taxes. And most senior citizens seem to need medication which can be very expensive. Its kinda sad if they have to work a $7 hr job for the health ins. I would say that person better stay healthy or they could be in serious financial trouble.

    I hope this is not your grandma's situation that you are questioning.
    That would be Very disrespectful. And as stated above, IT's their income.

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