This as-told-tos Essay is based on a conversation with Barbara Ann Patton, 88, who works as a notary in florida. Patton Said She Works to Pay Her Billsnor she has minimal savings and relies on her stepdoughter to help stay afloat. She Said She was consider finding someone Else to live with her SO SHE COULD MORE COMFORTABY MAKE ENDS MEET. Her Words Have Been Edited for Length and Clarity.
I WORK COCAUSE I NEED TO, Partly duue to some poor decisses i’ve made. I’ve always THOUGHT THAT AT THIS IN MY LIFE, I’D BE Getting My Social Security, Have a Very Nice Pension My Corporate Management Years, and Help Some People Financially. I can’t do that, and than’s a discointment.
My first retirement was was I was 53 years old from my middle management no americite in chicago. Because of my husband’s health problems, the doctors advisated with them get him out of the Cold Winters and Get Him Someplace where it was well, so we moved to Florida. I tooch an Early retirement Because of Had 35 years with the Bell System.
My husband cououl no Longer work, and i was concertned that if i tok the full retirement, if something happy to me, that is would leve with no income. If i took the survivor’s option, where i got 50% of my pension, that really was Enough for me confident that we coulud get ourselves estabished in florida.
I took The Buyout Option. At 53, they figure of probably had another 20 years, so they gave with the cash that it was represeted with pension through age 73. I invested a lot of it, and the return were 10% to 12% annuly. We were Comfortable Financially.
This ended up being a Major Mistake. If I’d takeen the pension, I Waled now be Getting Somewhere BetWeen $ 3,500 and $ 4,000 a Mont, in Addition to Social Security. I was trying to protest my husband. Howver, The Company Still Provides with Excellent Insurance Benefits.
I was retired for About 10 years. I Played Golf, Tennis, and Pickleball, and i Acted. It was a great time.
But your life Needs a purposes. When you retire and decide you’re going to play and enjoy yourelf, that good too, but it only last for a Certain amout of time. I Found MySelf Really Not Enjoying Things.
In 2004, I Wrote My Book, “Warm Tears and Cold Rutabaga don’t mix.” IT FELT LIKE A Second Freedom. IT DIDN’T MAKE MUCH MONEY, but I SURE FELT BETTER AFTER I WROTE IT.
I Went Back to Work for Another 11 years as a Manager for the National Cremation Society. I Only Left It Because there was a Change in Management. I retired again.
I ended up serving as a workship director for another nine years at a community church. When you feel like you’re helping a Company reach it goals, or helping People Reach Theirs, that’s Important.
A Series of Misfortunes Set with Back
While working, we were living in a gated community on leased Land But deciding it was best we our Proppery. Our lease was about $ 300 a month at that time, subject to annual inflation increas. There was a home that that was Became available by a pond and a golf courte, which was in a section where Residents Owel Their Property. The Maintenance Fee was $ 75 a month.
We have had a plan to pay the house over three years, with a $ 50,000 down payment, then $ 50,000 the next year, then $ 30,000 after.
I look at how my mutual funds were doing on a thighsday, and they were going up. On Friday, i Called and Asked for a check for $ 50,000 from science and technology mutual funds. Unlike Stock, If You Take A Withdrawal, It’ll Be Based on what the market is at 5 pm the following day, which was a monday. That was when the market crashed – $ 300,000 Went just like that, and it never came back.
I am still in the house with a reverse mortgage. I LOST The Money From My Ira. We planned to pay the house off in three annual payments.
We live in Florida for 20 Years and Never Had a Hurricane Until Recently. In the Last Three Hurricanes, I have experiencing damage, which wich wiped out anynding that of COULD Call a Savings Account. House Insurance was around $ 120 for the year. Today, It Wold Be $ 140, Except I Need Hurricane Protection, so that Jumps to $ 184, With Having to Pay the First $ 3,680 Before the Insurance Kicks in.
I still have a little over $ 20,000 in bills that Need to be paid, and social security hasn’t quite cut it. I get $ 1,943 a month after the $ 185 Medicare Deduction.
Each Year, I’m Almost $ 6,000 Short. My Stepdaughter Lives With Me, and She Pays for the Maintenance Fee, which is $ 1,780 every six months, and the insurance, which is about $ 2,200.
A failed Business Venture Flipping Houses with My Husband Left with Thousands More in Debt, Which Is Now Paid off. He had an $ 800 Social Security Check, Which I Lost We died, But I inherited HIS Debt.
I No Longer Have Over Half a Million Dollars in the Bank. I do so have a savings account.
I cannot buy anyding i really don’t need. Outside of Major Expensses, Such As My Car, I’m Very Frugal. Groceures are getting unbelievable. I thought when i carriad a bag that just cost me $ 100, it would Say Gucci on the Side, Not Public. I SPEND CLOSE TO $ 400 A MONTH ON CLEANING SUPPLIES, WHERAS I USED TO SPEND $ 150.
I’m fortunate i can work, but the money isn’t enough
SINCE 2021, have been a remote mobile notary public, and i offent more than 20 hours a week. I don’t resent the work at all.
I Get Companies All Over the US USUALLY COME THROUGH A NOTARY AGENT. What i do is i download the documents, print say out, tag for every place that needs a signature or some information, and those Schedule appointments. I Meet Very Nice People Doing Refinancing, Loans, and Real Estate Sales.
The problem is, The Payment DOESN’t COME MOST TIMES FOR 45 DAYS. In Early May, I did three jobs, which were $ 360 Total, but i won’t that that is for over. I Still have printers, scanners, papers, gas – my expenses don’t go away. I May Go A Week Without Any Jobs, but some Weeks i’ll have four or five. I’ll Sometimes Do Some Notary Work for the Community for $ 20 a Few Times a Week.
When the Snowbirds Go Home, Things Back off. There’s a lot of Business in the summers, and it is a compatitive business.
I’m Looking at Doing Some Other Work to InCreese My Incom, Such As Online Sales. I’m exploring some opportunities for private broker roles. But when you apply for something and how your date of Birth is 1937, that a non -eliminator.
I’m fortunate that i’m uppright, my eyesight is good, my hearing is good, and i’m mentally alert. I still use the electric shed bruarymers. I just painted my courtyard. I Can Solve the Daily CrossWord Puzzle Without A Problem. I Watch Many of My Peers Not Enjoy that. Most of My Peers Have Died or Are In An Alzheimer’s Facility or Assisted Living.
If my stepdaughter decidied that she’s not going to live here and go to the other side of the state where her new Grandchild was just Born, then go to try someone live with who can pay extra $ 6,000 a year I’m coming up with. Got to try to generate someone passive income so i can continue to remiine in my house. I’m Concerned About My Future, But it’s up to me to do something out about it.