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Phil Haddick, 74, replaces a light dome at River Woods Apartments of Fredericksburg.
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Carol Fisher and fiance, Phil Haddick, have had to park the RV and settle for simple pleasures like Scrabble.
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By CATHY DYSON
Carol Fisher thought she did everything right to prepare for retirement--and to live her dream of seeing the country from a recreational vehicle.
She and her husband, Larry, worked at the Naval Surface Warfare Center in Dahlgren. They planned to sell their log home in King George County after they retired and live off the interest, along with their pensions.
But when Larry Fisher died two years after the couple began traveling, Carol Fisher's dreams ended, too.
She had to start over--but it wasn't the last time she'd have to do that.
Fisher eventually got behind the wheel of a recreational vehicle and read a map--something her husband always did.
She traveled alone for two years--and went all the way to Alaska--then spent eight years enjoying the scenery with her fiance, Phil Haddick.
She also had a decade-long spending spree, buying souvenirs from New York to Nova Scotia. When gas and grocery prices soared, she found herself deep in debt.
Fisher parked her 32-foot travel trailer because she can't afford to use it and hasn't been able to sell it. She and Haddick moved into a Fredericksburg apartment six months ago.
But because rents went up so much--like her credit card balances--during the years they traveled, the couple's income no longer covered expenses.
Haddick, 74, had to get a job. He works full time as a maintenance man in return for rent at River Woods Apartments in Fredericksburg.
Meanwhile, Fisher, 65, is cleaning houses one day a week and looking for other part-time work. She's shopping at dollar stores and bakery outlets, buying used furniture and cutting napkins in half to save money.
"It's definitely not how I thought my retirement would be," Fisher said. "But I'm not the only one hurting. I'm no different than anyone else, except I'm not ashamed to admit it."
'heard this song before'
Seven of 10 retired people rely on Social Security for most of their income, according to Princeton University Press. The average Social Security check is about $1,000 a month.
By that standard, Fisher and Haddick are prosperous. He gets $17,000 a year in Social Security and free rent--the equivalent of $1,000 a month--for working at the apartment complex.
Fisher's income is even higher. She gets almost $29,000 a year from her late husband's pension. Her Social Security money is $7,000, less than average because she took an early-out deal.
"I get $36,000 a year. That's good money," Fisher said.
"In this day and time, that doesn't go far," Haddick added.
Not when a person has massive debt, said Ruth Nelson of Spotsylvania County. She's the former Virginia president of the AARP.
"I've heard this song many times before," she said, about older people going back to work because they can't afford to stay retired.
"Credit card debt is a killer," Nelson said. "If you're carrying credit card debt, don't even think about retirement."
Fisher had two cards with balances of $10,000 each, as well as several smaller ones, when she stopped traveling. She also owes $33,000 on the trailer and car.
"I was stupid. I know it," Fisher said. "But I had 10 years of having a good time. I'm not sorry."
over the edge?
The price of gas has impacted everyone who drives, but "it's taken away Carol's dream to travel and go different places," said Doug Green, general manager of Safford Motors Dodge and RV in Thornburg.
He's sold Fisher every trailer she's owned.
"There are other folks who are just like her, but I think those are people who are always close to the edge to a certain degree," Green said.
Fisher probably would say she's gone over it.
She's spent all her husband's life insurance, as well as proceeds from the sale of the house. At least $50,000 went toward his medical bills, which she paid off last year, nine years after his death.
She faced her own problems, including breast cancer in 2005. A young woman stole her purse and identity last year, and the court case continues.
Fisher said she agreed to invest $10,000 in a relative's basement so she and Haddick could move there, but that didn't pan out, and she didn't get the money back.
She said she made a similar arrangement with a homeowner in Woodbridge and was evicted on Christmas Day.
Fisher and Haddick put all their furniture into a rented trailer, which leaked and ruined everything.
That's how Fisher came to start over again, in the Fredericksburg apartment, six months ago.
When she's not clipping coupons or making her own window treatments, she consults financial advisers. They confirm she's doing the right thing by paying down the biggest debts first.
But she's not finished with her dream. She's got her eye on a travel van, which runs about $60,000, and hopes to buy one after she clears her debt.
"I'm not through yet," she said.
Cathy Dyson: 540/374-5425
Email: cdyson@freelancestar.com
The largest number of baby boomers will reach retirement age by 2030, according to the National Association of Area Agencies on Aging. In that year, 71.5 million people-- one in every five Americans--will be over 65. Ruth Nelson, a Spotsylvania County resident and former Virginia president of the AARP, has the following advice: Clear your credit card debt by age 50. Rely on a combination of personal savings, annuities, pensions and Social Security income during retirement. Pay cash for big purchases to avoid finance charges. Don't succumb to the "buy-buy-buy" trend. Seniors eventually have to pare down anyway, "and whatever treasures you think you have, nobody wants them." Standard retirement |
