Author Topic: Need advice. I am 68 and have $100,000 in savings.  (Read 7512 times)

Padonak

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Re: Need advice. I am 68 and have $100,000 in savings.
« Reply #50 on: January 29, 2020, 12:14:51 PM »
Also, to all the people who suggested that a 68 yo with 100k nw and 400 per month income moves to a foreign country, youve got to be kidding me. Have you lived in foreign counties? Do you know what its like to have no safety net, no family, low income and very little savings when your health is deteriorating? Not to mention dealing with foreign languages and visa BS.

I mean sure, OP could survive in a village somewhere in the Philippines. What happens if he or she gets seriously sick? There is no public health care there to speak of. Hospitals have no obligation to admit you if you don't have money. No food stamps, no medicaid, no subsidized senior housing, no nursing homes paid by medicaid.
« Last Edit: January 29, 2020, 12:19:10 PM by Padonak »

terran

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Re: Need advice. I am 68 and have $100,000 in savings.
« Reply #51 on: January 29, 2020, 01:07:47 PM »
How can you get only 400 in social security? Even SSI is around 800 for those who dont have enough SS credirs. Cant you get SSI in addition to your SS?

SSI has a $2k asset limit. There are some notable exceptions that don't count towards the $2k like personal home and a vehicle, but someone with $100k in the bank definitely won't qualify. https://www.ssa.gov/ssi/text-eligibility-ussi.htm