Son Urges Mother to Save for Retirement, But She Dismisses It as a Scam; Now Facing Divorce and Retirement with No Savings

Financial Struggles of a Retired Mother

• Retirement Without Savings: A 67-year-old woman retired five years ago with no savings, relying solely on Social Security and her estranged husband's income. Following her divorce, her monthly income is projected to be around $1,000 from Social Security and alimony.
• Living Conditions and Debt: The mother is attempting to move into a 55+ apartment complex with income-based rent, but her financial situation is precarious due to existing credit card debt and the uncertainty of equity from her house, which is set to be sold.

Concerns of the Son

• Distance and Financial Stability: The son, who lives across the country and has recently achieved financial stability, is worried about the potential expectation to support his mother financially. He expresses a desire to help her find options without becoming overly involved.
• Advice from the Community: The post on the r/povertyfinance subreddit garnered numerous responses, with suggestions for programs like Section 8 housing, Supplemental Nutrition Assistance Program, and Medicaid. Some users recommended exploring spousal Social Security benefits and Chapter 7 bankruptcy to alleviate her credit card debt.

Community Reactions

• Diverse Perspectives: Responses varied, with some emphasizing personal responsibility for her financial choices, while others highlighted the challenges of age discrimination and the difficulty of finding employment at 67.
• Support Systems: The son noted that his mother has a small social circle and some family support, but he hopes she can achieve independence without relying on him financially, especially as he is also behind on his retirement savings at 33.