I’m 71 With No Retirement!
Janice, 71, is calling into the Dave Ramsey Show. She has 25 Thousand in cash, but no debts, apart from her house and car. But she’s afraid she’ll lose her home. She gets 2000$ in Social Security and supplemental income from a physically demanding job. She and her husband earn just over $4000 per month. How do they afford to pay off their mortgage, car, and utilities?
Janice is 71 years old.
When Robert died suddenly, Janice was grieving. She is 71 years old but no longer in the position she held during her career. Robert and Janice were married in 1964, and Robert retired from the Air Force in 1985 with the rank of technical sergeant. Janice was a member of the Daughters of the American Revolution, a professional organization. She and Robert split their time between their work and their love of family.
Robert’s income was less than Janice’s. She received $541 in retired pay and $791 in veteran’s disability benefits, and Robert received $3,132 a month in CRSC. Robert did not know that Janice would be losing money if he received the CRSC; he was surprised that his wife had to pay the same amount for him. The trial court agreed to award Janice $541 a month to help her pay her way.
Her husband wants to pay off the car and then use the payments to pay off the house.
“I’m 71 and have no retirement,” says Carol Gee, a retiree working since she was 20. At twenty, Carol joined the U.S. Air Force and spent eight years on active duty before honorably being discharged. She then spent 14 years in the Air Force Reserves.
