unexposedhazard@discuss.tchncs.de to Orphan Crushing Machine@lemmy.worldEnglish · 5 months agoDonors raise $233,000 to give US cart pusher, 90, chance at retirementwww.theguardian.comexternal-linkmessage-square4fedilinkarrow-up11arrow-down10
arrow-up11arrow-down1external-linkDonors raise $233,000 to give US cart pusher, 90, chance at retirementwww.theguardian.comunexposedhazard@discuss.tchncs.de to Orphan Crushing Machine@lemmy.worldEnglish · 5 months agomessage-square4fedilink
minus-squareRememberTheApollo_@lemmy.worldlinkfedilinkEnglisharrow-up0·edit-25 months ago$233,000 is not retirement money. That’s just over $6k/year in interest at a modest 5%. Or at his age he can take an extra ~$20k+/yr for a while of straight cash. Might be the better choice.
minus-squareidiomaddict@feddit.delinkfedilinkEnglisharrow-up0·5 months agoI mean, he’s 90. So he can safely take $15k/year in addition to his social security (if he lives past 105, he’ll at least be eligible for a care home). That gets him to the $2,500/month point he needs, but he’s completely vulnerable to inflation.
$233,000 is not retirement money.
That’s just over $6k/year in interest at a modest 5%.
Or at his age he can take an extra ~$20k+/yr for a while of straight cash. Might be the better choice.
I mean, he’s 90. So he can safely take $15k/year in addition to his social security (if he lives past 105, he’ll at least be eligible for a care home). That gets him to the $2,500/month point he needs, but he’s completely vulnerable to inflation.