September 2015. More than a few older Americans not yet eligible for social security
must take a low paying job to generate any kind of income — and even
these jobs are becoming more difficult to get. Many are not financially
prepared for an income that is a fraction of what they need to pay for
household expenses.
Retirees face the worst economic climate in 80 years at the worst possible time.
The impact of Baby Boomers continues at a relentless pace and will
likely change our notions about retirement as millions and millions
don't have enough income and savings to live life in their later years.
None of us should depend entirely on Social Security and Medicare to
get us through our golden years, especially if we want to be able to
pay for basic services. It's not enough -- and it may be even less by
the time you get there. Planning now – no matter what your age may be
-- will help turn your future into a smile rather than days and nights
of tears.
These are real challenges... facing people like me and my honey. I warn my kids, too, and hope they prepare for life after 50.