I never knew this online program existed till tonite browsing for financial help since my Mom just passed 2 weeks ago. I was Mom’s full-time caregiver for 5 years, an IHSS worker paid by the State of CA. She qualified due to a massive stroke which left her permanently paralyzed on left side of body. She collected Social security, she was 85. I had to retire 2 years early to care for her in my home by myself. I receive a pension but not SS as yet. Financially I am lost now that I've lost the income of being her caregiver, and her SS income helped with household necessities and utilities. I thought this aging care could be for myself as I am in need of financial assistance immediately as bills are due. I have taken care of the funeral matters and now need to focus on how I’m going to survive. My income obviously is much lower than my outcome. I could lose my car, and my phone and I have 3 dogs & 2 ducks to feed. My house payment is $1,540 a month. Utilities and life insurance are critical as I could lose that. I don’t think I qualify for anything, what am I to do now that I’m in a mess?? I am 64 and have arthritis in my hands and body but not on disability. I could barely change Mom’s diapers toward the end due to my hands and fingers going crooked. They hurt, too. I’m just lost with no help, no sibling., I have 1 married son with 2 girls and they are low income themselves, were out during Covid, it was a struggle for them, they need to care for their own family. I am stressing out every day and worrying what is to happen when everything is due next month ?? Thanks for your support, ❤️Rosie
At 64 you can start drawing SS. You get less because for you 67 is the age you would get 100%. Not sure if you can get Social Security Disability since you are old enough to start drawing SS. Thats a question for SS. You will get SS much faster than SSD. SSD can take at least a year to get. Maybe Social Services help get you get over the hump. There is also Supplimental income (SSI) that you may qualify for if ur SS is not enough. You may qualify for Medicaid for heath until Medicare kicks in at 65. At that time Medicaid may become your supplimental. There are food banks, government food, some places have food vouchers for Seniors, food stamps.
You may need to sell your home. Take what proceeds you get and use them to help offset ur expenses. Find low income housing. HUD subsidizes apts where I live. Rent is based on 30% of your monthly income.
What is ur life insurance for? If you have debts when u die, they die with you. Are you just covering funeral expenses? As you get older those premiums get higher. We dropped a policy because of that after our girls were grown. Cashed it in. Utilities u can get help with.
There is help out there so start with Social Services.
Also, you mentioned "life insurance" in your post...is this correct? Or did you mean LTC insurance or homeowner's? Because if it's life insurance (term) then I would cancel that. If it's whole life, that's a different thing and maybe there's cash value in the policy. At any rate, any type of life insurance won't really benefit you while you're alive and I wouldn't continue it for any heirs...you need to live today and take care of yourself now and not worry about leaving any inheritance.
Regarding the mortgage...What would happen if you only paid the interest or principle, but not both, in order to save some money this month (because you will still owe next month)? When we were managing my MIL's ballooning mortgage we delayed foreclosure by paying 1/2 of it. I'm not suggesting foreclosure, but you need to get financial guidance by a professional in your home state. Let us know how it goes -- I'm sorry you are having this distress. You're not alone on this forum.
I feel for your predicament after giving of yourself and 'blending' into the furniture as your mother's caregiver. And it sounds like you are just finalising affairs which can be a trial in itself.
So what can we do...
At 64, and with your arthritis, employment prospects might be limited (and likely low paid unless you have some unmentioned skills to apply).
If I were in your shoes, I would consider renting out a room in your house (or even offering room and board) as it is a natural follow on from your present 'occupation' (subject to local laws and practice specific to your state).
Failing that, and it is a slim chance, inviting struggling son and family to move in with you (or see if you can wheedle your way into their place) - although consensus here on the forum will be shouting NOOOOOOO!
It all depends how well y'all get along, and if it covers the bills in the short term, it's worth a shot.
For last minute bills, it's best to talk to the suppliers directly - most have some provision for financial hardship and if you raise it first (not wait for the debt collectors), you might be looked on favourably.
If it runs deeper than that, a 'debt consolidation' company could get them off your back (although it will come at a cost to you over time).
Avoid using credit cards or short term finance options and, if worse comes to worse, you may need to downsize homes to provide some ready cash to meet your expenses.