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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Amy J who wrote (28136)3/14/2005 1:16:52 AM
From: GraceZRead Replies (1) of 306849
 
All she has now is SS, she stopped working about six months ago. I helped her get on public assistance because she has a lot of expensive health issues where she needs Medicaid in addition to her Medicare in order to deal with them. I'll help her find some sort of assisted living probably next year. She isn't dealing with her health problems very well either so she will need physical assistance in conjunction with financial.

I hate to say this, but half the elderly in the City of Baltimore are in the same boat she is in. Women who have never worked or always had low paying jobs, people who have not saved or invested anything, those whose families aren't involved in their welfare and are forced to look to the state to bail them out. A lot of the men have spent a great deal of the time when they should have been making the most income working, in and out of jail. It's hard enough to save for a secure future when you do everything right but when you make big money mistakes continually, there is little hope of living independently when you are older. In the City there is a whole class of people with an entrenched psychology of dependency.

The good news is that there is a growing number of escapees. I meet a lot of people who have escaped welfare, have managed to buy homes and put themselves through college even though they are the first in their family to do so. I'd never say it was easy to do this, I had to do it myself. Anyone who can navigate the labyrinth and jump through the hoops of the various social programs can obtain the skills and has the tenacity necessary to be self sufficient they just don't always see it as the more desirable alternative.
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