Firebird
Senior Associate
Joined: Dec 29, 2010 12:55:06 GMT -5
Posts: 12,448
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Post by Firebird on Aug 28, 2012 10:39:13 GMT -5
She lectured me constantly about the dangers of latch key kids, how kids in daycare don't know who their mommy is, etc etc. I think anyone who's spent more than twenty minutes in the real world knows this is ridiculous.
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thyme4change
Community Leader
Joined: Dec 26, 2010 13:54:08 GMT -5
Posts: 40,417
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Post by thyme4change on Aug 28, 2012 10:50:09 GMT -5
You know - now that you say this, my MIL did this. Their life is full of interesting ins and outs that kept her from working consistently. But when she was in her 50's, they calculated the difference in income for her if she worked x number of years. She had to work a certain length of time to qualify for social security. My FIL is also a lot older than her - so she is going to spend many years without him. So, she went back and sold dresses at a clothing store for $10 an hour. She had never had a job like that before. I don't know all the jobs she had in the past - but one of them was the old-school phone operator - where she plugged in the lines for the businessmen! LOL. So, yes, she couldn't go back and do that.
So, even if SIL goes back and earns $15k per year selling blenders at Williams Sonoma, and she starts when she is 50, and works for 12 years - let's say she nets $10k per year, and saves every penny - that is an additional $120k for retirement. That extra $500/month during retirement might not be anything to sneeze at. Also, she would then qualify for social security payouts - which would bring in a few hundred bucks a month (or whatever.)
I really don't understand the people that are here and saying it would be useless for her to go back to work. I'm a pretty good earner - but I am able see the value of that income, and the changes it could make to a retired couple.
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