An Observation

As you know, I notice things and then think on them.

This past week I have been working in an accounting office helping retirees with their taxes - never mind that I have no clue how to do mine!  And yeah, pretty much, every single one of them is the same.  They have all been in their 80's and drive 10 to 15 year old cars.  Little savings is in the bank and unless they have a pillow filled with cash, they are toast if the car dies.

Most income is generated by social security, some might have a low paying job, some have stock and bonds they are cashing in and others perhaps a rental property, so far only one had a pension.

I always wondered about these ideas.  I mean, are they reasonable or not?  I have long thought on AARP, no idea if this is reasonable or not either!

Those whom bought stock and bonds - all would have been better off with a savings account!  They all lost money due to fees and lower values when cashed out. Hmmmmm.

Those whom took a minimum wage job part time, well at least there is some income there, albeit off set by lower SS payments.  Hmmmmm

And rental property with its write offs, a solid tenant and low repair bills will help to about the extent of a minimum wage job.  Hmmmmm again!

It saddened me to feel compassion at their plight.  Some are driving long distances to dentists, doctors and eye specialists - the medical field is shrinking and the aged are just stuck and growing in humbers!  One couple can not even afford to live together any longer, there is just no money.  So, they each live with one of their daughters (good daughters!).

Western Washington is the wrong place to live if you are retired.  Too high of real estate values, taxes for everything! and a culture that no longer cherishes nor needs them.

I try to do the best for them in getting more back, but only so much is legal and really, even though they all think so: AARP dues are not tax deductive ....