Wednesday, July 5, 2017

Assuming They Even Have A Nest Egg

I certainly had one. A pretty good one too as I had an upper middle class, hourly income from a needed technical skill. But even that wasn't enough to protect me from the Dot Com bust back at the beginning of the 2000's, and the Great Recession. That, as well as the fact that I couldn't handle the stress any more (along with the severity of the depression I have to deal with), as well as my advancing age, all combined to put pressure on me to retire early; which left me with not only no nest egg any more, but a significantly reduced monthly SSI payment. One that, by itself, is just about as marginal a living income as one can get; even with sharing expenses, and rooming in my friend Kathleen's house.

If that's my story, how much harder might it be for folks who never had a decent income to begin with, and with which to accumulate a decent SSI income. What will these folks do?


The biggest threat to the majority of retirees will be outliving their nest egg.