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Thread: Why I don't believe in saving for retirement

  1. #11
    Senior Member Andy's Avatar
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    IIRC you have a career path that can make good coin. So barring goofy student loan payments throwing a wrench in the works, saving for retirement shouldn't be too hard. Just live below your means, and the rest will fall into place. When you (or should I say I,) think of retirement...it means basically have enough recurring income to pay the property tax and eat, along with misc bonus cash for stuff like cars and whatnot. Being disabled, and with a work history, you can get Medicare before you are of retirement age, so no spend down needed. Then there is the bonus of SSDI which can give just under 30K, 25K of which is not taxed, so figure what that represents as far as a job goes with Federal and FICA deducted from it. If you are paid up on your housing and don't owe anyone squat...it can go a long way. Add in your savings, I figure that retirement shouldn't be too hard.

    I'm 47, and still currently employed. I want to pull the plug soon, at least before the horror of being 50 comes around. Wheelchair since 32, but that really didn't affect anything income-wise. Money comes in faster than I can spend it, and that SSDI income and Medicare which can be tapped before retirement age does sound promising when having a goal of putting yourself out to pasture. At least in my case, I'm thinking that disability actually is a positive for an early retirement goal. So save up that money, work, and then watch the gubment supply an income to pay taxes and food, give you some insurance, and have your retirement savings for the rest.

  2. #12
    Andy, if you're working now I don't think you can just decide to retire and get SSDI. Won't they just say, "You were working before and you had a disability. Why can't you work now?"

  3. #13
    Senior Member lynnifer's Avatar
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    You wear out. Complications. Like someone else on this site said, it becomes a full time job just looking after yourself.
    Make America Sane Again. lol

    T-11 Flaccid Paraplegic due to TM July 1985 @ age 12

  4. #14
    Quote Originally Posted by skippopotamus View Post
    Andy, if you're working now I don't think you can just decide to retire and get SSDI. Won't they just say, "You were working before and you had a disability. Why can't you work now?"
    If you are sci and use a wheelchair for mobility you are coded for SSDI purposes as automatically eligible as long as you are unemployed at time of application. However, with a Congress anxious to privatize Social Security and Trump as president I would watch out, we may wind up being one of the "efficiencies" that "save" Social Security.

  5. #15
    Senior Member Andy's Avatar
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    Quote Originally Posted by skippopotamus View Post
    Andy, if you're working now I don't think you can just decide to retire and get SSDI. Won't they just say, "You were working before and you had a disability. Why can't you work now?"
    What ancientgimp says below...

    Quote Originally Posted by ancientgimp View Post
    If you are sci and use a wheelchair for mobility you are coded for SSDI purposes as automatically eligible as long as you are unemployed at time of application. However, with a Congress anxious to privatize Social Security and Trump as president I would watch out, we may wind up being one of the "efficiencies" that "save" Social Security.
    Yeah, that whole SS insolvency with sad and backache people becoming SSDI recipients does make one wonder how long that will last, or at what level.

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