On CPP Disability/Any other women trying to make it on this and keep their home too?????

Hi: I thought I would just throw this out there to those Zoomer women who are not doing so well as they approach Retirement Years. After working for 33 years I did not plan this happening in my life. I was always frugal and didn't even like shopping. I turned 50 and life as I knew it was gone forever. I am now in a position that I do not like at all. I owe way too much on Credit Cards because anything extra like getting my 18 years old car tuned up or my dog getting sick or a flat tire is not in my budget so I put it on the Credit Card, knowing well that I was not able to pay it off, plus the fact that I felt so useless. I had worked since I was 17 and suddenly nothing. I want to know if anyone knows a solution to holding onto my house and still paying off my debt. There are no extras in my household except dog treats. Even if I sold my house, which right now is not a good time at all, I wouldn't get enough to pay off my bills. I was thinking about renting it out/ has anyone any thoughts on this??

Tags: CPP, Disability

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Brenda,

Hi! After reading your post I think that the only thing missing from your retirement strategy is to fully empower yourself as an entrepreneur concentrating only on positive actions. I'm presently researching Seniors 50 Plus in my 'Seniorpreneur Project' to find out HOW and why some seniors are able to start and work on spectacular businesses in their retirement, while others can't seem to get off the starting blocks. Hopefully, I'll be able to help you more in the future.

Joe Wasylyk
Seniorpreneur
Don't know if I can offer any ideas for you, but I can certainly relate to having too many money worries at a time when you really shouldn't have the stress of worrying so much. I guess if you could make money by renting out a room in your home for a bit until your bills are paid, that might work.
Wish I could be more helpful, but just wanted to let you know I'm one of those Boomer women who aren't doing so well either. I can't seem to save enough to collect a down payment for a home to retire in. My single income doesn't go far, and there's always some emergency with the old car. I don't want to be making car payments right now. I tell myself at least I"m used to scraping by -- sounds like you are too. I feel sorry for those who won't be prepared for the hardships of a fixed income when it comes. Hope it all goes well for you.
Hi Pauline: Thank you for your comments. It is tough for women on their own, even if they are working. The funny thing is when I worked I didn't owe anything except my mortgage and I think I had one credit card for emergencies only. I have done a total 360 and now owe a lot on many cards just to pay the bills. I guess I have to come to the realization that I need to sell my house and either live with someone else and share rent or apply for geared to income housing. My house is too small to rent a room, there would be no privacy at all. Yesterday because of the ice build-up on my steel roof I lost half my eavestroughing and the face plate against the house with it. You are right, there always seems to be an emergency, It just seems to never end. Having your own home is wonderful as long as it is within your budget and nothing happens to prevent you from working. Good luck to you and don't give up, if you really want something bad enough I believe you can make it happen but on the other hand you have to know when to fold your cards too.
Get rid of your credit cards. I stopped using credit 20 years ago and sometimes I have to rob Peter to pay Paul and I may have to do without something but I don't owe anyone else. It is wonderful in these economic times to be liberated and not owe!

I have a car and a dog and those two things frequently make for stress, i.e. dog just got sick so $ I was saving for my car insurance went to the vet instead. Dog much better. I'm stressing because I think I am losing my clutch but have to wait till the end of the month to see my mechanic before I can even consider thinking about it. I handle what I can handle and set stuff aside until I can deal with it. I have had to learn stress control as I have had PTSD for past 2 years. NOW thats something to worry about. What to do, well I do what I can and then set aside what I have to until the appropriate time. I know that I will have PTSD until the absolute end of the lawsuit. BUT I have to handle what I can when I can and do the best that I can. I identify my problems and then identify some solutions. One has to deal/handle things.

I don't think this is a specific gender problem. I think the entire Boomer generation plus a few older than that had never really experienced 'hard times' and had no idea this would happen. It quite took me by surprise and the hardest thing to learn was how to be poor! I do okay but no comparison to my earlier years earning power and so I have had to adapt myself to budgeting which I really didn't know.

Keeping your house, if you are sincere about keeping your house you may have to take in a boarder but I don't know how that would work with your CPP or any ODSP or benefits you might be getting. I have a friend who really doesn't have to worry about $$$ but like all people she does. She has a million $$$ home with 5 bedrooms, 3 full baths and she takes in a foreign student who comes here to learn ESL. The various schools arrange it all. Now this woman is VERY fussy and clean but she has done well with the system.

You have to stop wallowing in the fear and worry. Get some positive thoughts going, find an enterprise that is needed and go for it.

I am a recyclist! Remember those old floor lamps that were open at the top and used halogen bulbs? Well as they are thrown out behind big apartment buildings, I rescue them if they are not in the dumpster. Then I strip all the electrical wiring/switches etc... and turn them in to plant stands which you can put together at any height. I grow my own plants and then I sell either/or at yard sales. It helps recycling and gives me some other ideas.

Often in very big apartment bldgs, people put old small kitchen appliances out (some of the stuff is not even old), if it works then I clean it up and sell it at yard sales.

I'm WAY BETTER than second hand Rose! lol

You have to have an imagination and inquisitive mind for these endeavors and you get better at seeing what is feasible. You are also helping limit garbage. No kidding about the small kitchen appliances!!! I plug it in and if it appears to work then I clean it up. Let's see, I have 2 brand new food processors, several automatic coffee systems, stereos and speakers, toasters, Culinary small counter top oven/broiler and rotiserie and much more. You don't get a lot of $$$ but hey all those things add up and I do okay. Even have friends giving me good stuff they don't want anymore.

And the plant stands are very attractive and can be used for other purposes as well. My mind is always open to look at something and to see what it could be. I'm creative with no artistic talents other than my imagination and my sense of style.

Look around, open your eyes and your mind and jump in.
Zee said:
Get rid of your credit cards. I stopped using credit 20 years ago and sometimes I have to rob Peter to pay Paul and I may have to do without something but I don't owe anyone else. It is wonderful in these economic times to be liberated and not owe!

I have a car and a dog and those two things frequently make for stress, i.e. dog just got sick so $ I was saving for my car insurance went to the vet instead. Dog much better. I'm stressing because I think I am losing my clutch but have to wait till the end of the month to see my mechanic before I can even consider thinking about it. I handle what I can handle and set stuff aside until I can deal with it. I have had to learn stress control as I have had PTSD for past 2 years. NOW thats something to worry about. What to do, well I do what I can and then set aside what I have to until the appropriate time. I know that I will have PTSD until the absolute end of the lawsuit. BUT I have to handle what I can when I can and do the best that I can. I identify my problems and then identify some solutions. One has to deal/handle things.

I don't think this is a specific gender problem. I think the entire Boomer generation plus a few older than that had never really experienced 'hard times' and had no idea this would happen. It quite took me by surprise and the hardest thing to learn was how to be poor! I do okay but no comparison to my earlier years earning power and so I have had to adapt myself to budgeting which I really didn't know.

Keeping your house, if you are sincere about keeping your house you may have to take in a boarder but I don't know how that would work with your CPP or any ODSP or benefits you might be getting. I have a friend who really doesn't have to worry about $$$ but like all people she does. She has a million $$$ home with 5 bedrooms, 3 full baths and she takes in a foreign student who comes here to learn ESL. The various schools arrange it all. Now this woman is VERY fussy and clean but she has done well with the system.

You have to stop wallowing in the fear and worry. Get some positive thoughts going, find an enterprise that is needed and go for it.

I am a recyclist! Remember those old floor lamps that were open at the top and used halogen bulbs? Well as they are thrown out behind big apartment buildings, I rescue them if they are not in the dumpster. Then I strip all the electrical wiring/switches etc... and turn them in to plant stands which you can put together at any height. I grow my own plants and then I sell either/or at yard sales. It helps recycling and gives me some other ideas.

Often in very big apartment bldgs, people put old small kitchen appliances out (some of the stuff is not even old), if it works then I clean it up and sell it at yard sales.

I'm WAY BETTER than second hand Rose! lol

You have to have an imagination and inquisitive mind for these endeavors and you get better at seeing what is feasible. You are also helping limit garbage. No kidding about the small kitchen appliances!!! I plug it in and if it appears to work then I clean it up. Let's see, I have 2 brand new food processors, several automatic coffee systems, stereos and speakers, toasters, Culinary small counter top oven/broiler and rotiserie and much more. You don't get a lot of $$$ but hey all those things add up and I do okay. Even have friends giving me good stuff they don't want anymore.

And the plant stands are very attractive and can be used for other purposes as well. My mind is always open to look at something and to see what it could be. I'm creative with no artistic talents other than my imagination and my sense of style.

Look around, open your eyes and your mind and jump in.
I live in a one bedroom apartment. I am now retired but I sold my house in my early 50's because I could see that I wouldn't be able to afford the upkeep when I retired. I don't have a lot, but the rent is low and the place is clean and I now have my CPP and OAS and a small pension. Seems like you can get by with less if you have too. Good luck to you.
I am in the same situation. the little bit they give us isn't enough to live on. can't get odsp as i "have too many assests" which is this house, which i might loose if i don't get anymore income. i can't afford the meds that i need to stay healthy. i'm thinking of breaking down and renting out a room but does that affect disabilty payments?
You need to call a credit counselling group - there may be a small charge, but that would get you started with resources.
Hi All:

Some great tips here

I dont know what else to add
except.. get those credit cards down
they are like a rock around your neck

I too fell into some challenging times
becoming ill with Cancer and of course
using a good deal of my savings

It is not easy however
each day is precious

and You need tomove forward
be positive

You really need to think of how to save money
I dont have a TX or a puter at home now

I walk a lot, meet people easily
often take a good sandwich with me
on a hike
and just have black pants
dressy tops for going out

looks good!


Namaste to all!


Sedona :)

One day at a time, only!
ps
I could not get into the edit screen

Put your name down for Housing
takes a long time
some of the bldgs are not bad at all

but do it now!

Check out the rules

Sedona :)

As one ages, one can downsize
and live on less

Ive worked all my life
and around different locales
but this happens to anyone!
I would like to thank all of your for your time and ideas. I did go to a credit counselling and they suggested personal bankruptcy so I made the appointment and went ahead with it. I felt very ashamed I had always had a triple A credit rating, How did this happen??? They told me I would be surprised at how many people are in the same position. RIght now it is still very tight. Usually no money left by the middle of the month BUT all my bills are paid and that is a good thing. I am trying to take so much out per week and when it is gone thats it until the next week but they told me it would take some getting used to and they were right but I will get it yet.
Brenda said:
I would like to thank all of your for your time and ideas. I did go to a credit counselling and they suggested personal bankruptcy so I made the appointment and went ahead with it. I felt very ashamed I had always had a triple A credit rating, How did this happen??? They told me I would be surprised at how many people are in the same position. RIght now it is still very tight. Usually no money left by the middle of the month BUT all my bills are paid and that is a good thing. I am trying to take so much out per week and when it is gone thats it until the next week but they told me it would take some getting used to and they were right but I will get it yet.

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