Re: OT: what would you do? Need Advice

Posted by Bill Smith on December 15, 2003 at 08:57:49 from (63.147.130.60):

In Reply to: OT: what would you do? Need Advice posted by Rick M on December 14, 2003 at 18:28:06:

I agree with Russel. Sounds like to me you might run into trouble with eligibility for life insurance, and even if you found a place that would insure, I would guess it to be alot more expensive than $60 a month. Maybe I'm wrong on that, and if I am the insurance would be a good way to go. I don't know what there monthly expenses are, but sounds like to me she will have something to live on even if he happened to die. I mean 1/2 of the pension = $1350 a month, add the wages to that ($200 a week or roughly $800 a month) while working brings the grand total to $2150 a month. When she hits 62 or 65 if she choses to wait she will then be eligible for social security, and unless I'm wrong she will be able to draw off of either hers or his witch ever would amount to the most. Even while on social security she will still be able to work part time and make an X amount of money per month if she would chose to continue to work. I'm just saying that $2150 a month doesn't sound to bad to me and would ceratainly be better than being left completely down and out if left on her own. Of coarse you are not going to be able to live real lavishly on that, but there is alot of people living on less. I don't know what they have for assets, but if they have some she would have those to work with as well. You say they are paying on their house. That tells me that they must have atleast some money paid down on it. If that is their only asset, (not sure what kind of house or how big) but selling it and getting into a smaller, cheaper house would also be an option. That would help to get out of the house payment, and thus would have more money a month to live on. You always want to get out of monthly payments to the bank if at all possible. Pay something off through a loan and you ussually wind up paying double the money for it.

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