Is your retirement income enough for the future?

Is your retirement income enough for the future?

The many questions we have about our retirement age are:

1.    Will my retirement income be enough to cover my daily expenses and medical bills?

2.    Will I be carrying a mortgage that I cannot pay during my retirement?

3.    Will my long-term care cost and medicines be covered by my pension?

4.    Will increases in the cost of living and medicines be covered by my pension?

On average, retirement income for seniors ranges from $800 to $1500 a month.  This income does not increase to cover the ever-increasing cost of living and medicines.  Long term care cost and medicines will not be covered by the monthly pensions of seniors if they do not have any savings or 401K pension plan.  There are seniors who are still carrying a mortgage and putting all their money on it in anticipation of an increase in value of real estate.  This method is the worst kind of money management. 

It is unimaginable that you will be depending on your monthly pension and still owing a lot of debts.  The best time to plan for retirement is now.  If you have no way of supporting your daily expenses because of debts, then it is time to consider filing for Chapter 7 Bankruptcy.  You can discharge most of your unsecured debts by filing Chapter 7 Bankruptcy. Many people, especially those close to retirement, are stressed out because of all their financial obligations.  You do not have to put yourself in this very miserable situation because of debts.  You worked hard for so many years to have a comfortable retirement and you deserved it.  You can retire debt free if you want. There is nothing to be ashamed of in filing for bankruptcy.  It is made into law to give people a chance to start fresh and be free from past obligations.  Many millionaires are also filing for bankruptcy for many reasons since bankruptcy law is created. 

Question:    Will the creditors take away my social security pension and retirement accounts if I file bankruptcy?

Answer: No.  Social security checks and retirement accounts such as IRA and 401K are exempt from creditors up to $1.1 million.  Seniors who file bankruptcy will come up with fresh start without seeing a big percentage of their retirement income

to be paid to creditors. Any penny saved from paying creditors goes into your retirement.

Note:       This is not legal advice and presented for information purposes only. 



Our Law Firm entered into agreement with nursing and care home facilities in the U.S. to process applicants for Caregivers in the US.  We also process petition for caregivers from the Philippines.


We help clients file for Bankruptcy.  The benefits of bankruptcy are:

  • Bankruptcy will improve your credit within one year because your unsecured debts are discharged.  Although the bankruptcy will be in your records for 10 years, not filing bankruptcy will make your credit even worse until most your debts are paid.
  • If you are being sued by your creditors, most money judgment can be eliminated in bankruptcy.
  • Collection actions continue and you can be sued if you are in debt settlement.
  • Chapter 7 will eliminate all unsecured debts.  If you are near retirement age, you must eliminate most of your debts.


Our Law Firm successfully settled a car accident for $675.000. 


We also handle uncontested DIVORCE.


We can help you if you need an ITIN (Individual Taxpayer ID number)  We also prepare income tax returns and if you are under IRS audit, and need a representation with IRS, need to reduce your tax liability or need to offer a payment plan to IRS, we can help you with that.


For the month of March 2023, we received approval from USCIS for three naturalization applications, one Fiancée visa petition,  one removals of condition on residence and five adjustment of status applications.

If you have immigration problems the Law Offices of Crispin C. Lozano can help you find a solution before your problem gets worse, which could lead to deportation and family separation. 

Chris Caday Lozano, Esq. is an active member of the State Bar of California, the American Immigration Lawyers Association and San Francisco Trial Lawyers.  He has acticed immigration law, bankruptcy, personal injury and income tax representation since June 1999.  His contact phone is 1-877-456-9266, email: Website: with offices in Hayward and Cerritos, CA.

Toll Free 1-877-4LOZANO for free consultation or Schedule an Appointment