Hey everyone,
I'm writing this post about my mom (65) who is about to need to retire. She has never had a career (housewife), and therefore no retirement. She got divorced in 2010 from my dad. He's been paying her a few thousand a month as severance from the marriage and those payments are going to stop this November. She's been working a few odd jobs, but nothing substantial.
I'm trying to figure out what to do about her income. Her current expenses are about $3500/mo (inclusive of some debt and a mortgage). I believe she can collect social security, but I'm not keen on the amount. My sister and I are in a position to support her financially with the rest right now, but we're scratching our heads about what this looks like long-term.
What should we be considering at this point with her? I imagine this is a fairly common situation and we don't want to severely lower her quality of life. Thank you in advance for your responses and feel free to ask clarifying questions.
Submitted May 21, 2022 at 09:55PM by wesdog1313 https://ift.tt/WE1GD9P
