There was a time when the cost of living was good, when provisions were not so costly and interest rates were high. Even we used to get commission from the agents when we used to make investments in companies. Of late cost of living has become very difficult for Senior Citizens. Those who have saved for future for them not much problem. Those who have chidlren to take care also no problem. But usually Senior Citizens dont like to be a burden to their children. They like to give money to their children not take from them. The way the prices are going up it has become difficult to live. Sugar Prices have gone up, Dals are costly, vegetable prices are going up. Olden times people were happy with less facilities but now with more facilities also people are not so happy. God should give good health to Senior Citizens so that they need not spend money on medicines and have a peaceful life.
Very true,Viji. Senior citizens really feel the pinch in todays world of IT salaries and HI price rise. LAck of proper social security and old age benefits frm the Govt is a main reason. Some people relocate to less costlier places after they grow old the beat inflation but that gives its own set of social, emotional and physical problems too.
Viji: Be glad you are in India. Here in USA so many Americans at retirement age have been wiped out of most or all of their life savings. For many they see that they are going to have to work until they drop dead in order to survive. As for the kids, they were wiped out too in the housing mess. Can't sell houses effectively in many areas. Interest rates are about 2%. Health care continues to shoot. 20% of the population at least in NY state is getting money from the govt. in order to eat (food stamps). Folks at retirement age now sit around talking about how they hope they don't live too long (if they have any money/assets left) as what will they do in advanced old age when it runs out?
Very true Fact Viji Ma. But only to seniors??what about juniors.Cost of living is in high gear for us too.The house rent gallop 3/4 of our salary.Then medical expenses,grocery,travelling,Educational expencesof our kids,,unexpeceted cut-offs ...Oooofh.the list lengthens. Can't even think of saving a penny for future.Its like walking on ropes,have to balance neutrally,or else sure to get hurt.Pre-plan budgets.PHEW,just a cypher.
Yashikushi: Are you actually spending 75% for housing expense? Here in USA in the older more economically sane times the percentage for house payment used to be 33% and over that the banks would decline the loan. In the recent times the other lenders shot that way up and look what happened to us!!!! Now we have massive defaults and real estate prices are a mess.
Dear Shakambari Thank you for your first feedback. Right without proper security and old age benefits Senior Citizens have problems to lead their life. love viji quote=shakambari;810611]Very true,Viji. Senior citizens really feel the pinch in todays world of IT salaries and HI price rise. LAck of proper social security and old age benefits frm the Govt is a main reason. Some people relocate to less costlier places after they grow old the beat inflation but that gives its own set of social, emotional and physical problems too.[/quote]
Dear Saroj What you say is also true but Juniors are earning so not much of a problem. But for Senior Citizens they live on their savings and the interest which they get from investments . For some people their children are there to take care but not for everyone. love viji
Very true Viji mami, My father always says that we should save as much as we can from what we earn. This way it will be very helpful during your retired life. We children have been brought up this way right from young. So start saving from today to have a better living tomorrow is my policy.
Dear Sudha Ya when we are young we are so energetic, we should work hard that time and save for the future. So that when we retire we can enjoy our life. My husband saved during his younger days and lived economically so now we are having a peaceful life. love viji