Hi, this is my first post here. I (22f) live with my mom (56). My mom is a single mom who has always lived paycheck to paycheck. I pitch in with bills and we get by. We don't have debt, a mortgage (my mom paid it off last year), or car payments.
My mom works for the county and we have good health insurance although the premium has tripled in the past few years.
Because my mom could not afford to set aside any of her paycheck into an investment fund of any sort, she doesn't have a retirement fund. We are naive about these kinds of things. I do not believe she has a pension. She's been full time at her job since 2001.
I really don't know much about social security, so I have no idea how to gauge the amount of income my mom will have when the time comes to stop working. She has some health issues (musculoskeletal) and has had numerous surgeries related to strain from the job. If this gets worse, she could lose her job if a workers comp doctor doesn't clear her to return to work after another potential surgery.
What should we know & what should we look into? I'm doing my best to set a career path that will allow me to take care of my mom financially, but I can't count on that alone.
Submitted November 05, 2019 at 09:27PM by AsIfLeo https://ift.tt/34wRcr4
