Question for Wednesday..

[rhino 2]

I see/hear this statement Bantered around quite often when somebody’s looking to buy something for a bargain and they say I’m on a fixed income..

So my question is exactly what is a fixed income? I guess I’ve been on a fixed income all my life the harder I work the more I made the less I work the less I made …?.

 

[Rogue1]

I am on a fixed income. Social Security and my retirement. No matter what I do there will never be any more or any less it stays the same. Maybe a couple dollars every few years with a SS raise, but no overtime pay. And no outside employment. To me that's a fixed income

 

[Jack Klarich]

I am on a fixed income. Social Security and my retirement. No matter what I do there will never be any more or any less it stays the same. Maybe a couple dollars every few years with a SS raise, but no overtime pay. And no outside employment. To me that's a fixed income

This is why I work for cash on the side, retirement pay does not go up except for SS COLA

 

[cycle7447]

I have been married for 44 years - so, yes, I am on a fixed income.

It has worked all of these years. My retirement check will stay the same. My SS check may go up just a little. I still do a little consulting on the side and my interest on my accounts are still going up.

So, to me, all of this is my fixed income.

 

[Rogue1]

This is why I work for cash on the side, retirement pay does not go up except for SS COLA

With my lift and tire changer, I occasionally do have a few extra bucks.

 

[cScjhb]

To me a fixed income is when there is no way to change the amount. When I was a working person, I could work harder, work more efficiently, and produce better results which meant I produced more income. Now, I'm a non-productive old retired fart living off the fruits of my labors from younger years. I'm not producing or contributing stuff that results in monetary compensation. So my income is fixed based upon my previous work, savings, investments, decisions. No matter how hard, or little, I try (play) at retirement, my income will not be altered by my efforts.

 

[trike lady]

Social Security is a fixed income, I get no overtime pay & no raise, except for the COLA and it's more like a 'Diet' COLA. If I want to buy something I just set a little aside until I have the funds to buy it. I may start selling my finished cross stitch work next year and maybe have a little rum with my COLA.

 

[1dn5up]

If you have $3000.00 a month income with the SS 3% per year and no other taxed income = A Fixed income . If ya can’t afford it , you cant buy it. It won’t keep ya warm and it won’t fill your belly .

 

[cycle7447]

If you have $3000.00 a month income with the SS 3% per year and no other taxed income = A Fixed income . If ya can’t afford it , you cant buy it. It won’t keep ya warm and it won’t fill your belly .

Interesting. I haven't put a pencil to it - but believe that both my wife and I can survive on just $3000 per month.

Food - $300 per month

Electric - $150 per month

Water - 45 per month

House Gas - usually $60 per month

Car gas - $150 per month

House Insurance - $250 per month

Well - this is most of them -so, we can make it OK.

 

[ROAD DOG]

This is why I work for cash on the side, retirement pay does not go up except for SS COLA

YOU WHAT I hope one of JOE'S New IRS employees are not reading this. Don't worry they probably can't read!

 

[Jack Klarich]

YOU WHAT I hope one of JOE'S New IRS employees are not reading this. Don't worry they probably can't read!

I got 2 words for them

 

[rhino 2]

YOU WHAT I hope one of JOE'S New IRS employees are not reading this. Don't worry they probably can't read!

Maybe;But they hire geeks who can…. but they don’t have any interest in motorcycle forums....

 

[trike lady]

If you have $3000.00 a month income with the SS 3% per year and no other taxed income = A Fixed income . If ya can’t afford it , you cant buy it. It won’t keep ya warm and it won’t fill your belly .

I only get $637.00 a month, I pay electric, phone, internet, live in low income senior housing, own no vehicle and have to pinch pennies here and there to get stuff I need. :gah:

 

[Sully]

The amount of income your making now is your total income. It won't go up or down and you have no other ways of income.....That's a Fixed Income.........

 

[WindyOne]

If you have $3000.00 a month income with the SS 3% per year and no other taxed income = A Fixed income . If ya can’t afford it , you cant buy it. It won’t keep ya warm and it won’t fill your belly .

I wish I got $3000 a month. I could live like a king if I did. Funny how Medicare and supplements go up more than the COLA does, cancelling out the Cola increase.

- - - Updated - - -

YOU WHAT I hope one of JOE'S New IRS employees are not reading this. Don't worry they probably can't read!

Cash gigs are hard to prove and probably not worth their time on a retiree?