Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Retirement
Profile Image

Question By
MNGrandma

0 Contributions
0 People Helped
My husbands future...
I've worked my entire life...50-70 hours a week while raising 4 kids. For many years we couldn't afford to clothe or feed our family. I became an expert on stretching one pound of ground beef to feel a family of 6 for two days. Lots of potatoes and carrots...lol. Still, our children never went hungry. We did...often, but they were fed. After living 20+ years with nothing, we are terrified of going back there. We never took vacations and still do not. Once I got sick, I was forced to stop working (no cure and had to go on Social Security disability), I show an income of $1068.00 per month. My husband and I do not go out for dinner, we drive a 1989 van, no vacations, and live on next to nothing...obviously. Our home is paid for after selling our lake home and moving to a smaller house once the kids married and moved out. Our monthly expenses for the basics are more than our income from Social Security by roughly $788.00 per month. That takes a chunk out of savings, but I am thankful we have it. Too many people do not. Between utilities, a mere $60.00 a week for groceries (a lot of soup to pay bills), insurance and medications...we cannot live on what we bring in. There is no way of getting a part time job either. We are not able to get any assistance due to our assets. Too many people do not have these assets so I would never accept them if they were available. I have to live with myself and could never take from others when I am comfortable. It will not be long until all of our savings are gone....especially with new diagnosis.

We have a rather large savings and investment portfolio. I understand large is relative when looking ahead at medical bills, but that is why I am asking.

I am only 59 years old and my husband just turned 63. He is unable to work due to a stroke and cancer. Our medical bills are astronomical, but payments are made monthly. Medicare and our BCBS medigap does not cover it all. I've not been diagnosed with Alzheimer's and am not sure what to do. Someone suggested a divorce to protect our assets.We saw firsthand how years of hard work will vanish paying $8,000.00 - $10,000.00 a month per person for care (our mothers both had Alzheimer's and lost everything). What were once very well to do people, the husbands had to live in poverty due to the expenses. They say their homes are safe, but when they cannot pay the insurance or property taxes...they had to give them up. We took them both in and they lived with us until they passed. I do not want the same fate for my husband or children...to lose all we worked hard for, to lose our home and what we have. If we are lucky enough...maybe our children can get some inheritance. They deserve it...and so much more.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.