Retirement Age Seems To Be Beyond Reach For Some Americans.
Back in the Golden Age of Retirement Employers paid pensions and not just at government jobs. Shoot forward to today and the responsibility is now on the employee to save for his retirement. This is leaving many people in a financial bind leading to many older citizens working well past the retirement age of 65.
The number of senior citizens working past 65 is rising back in 2000 there were 4 million now in it has more than doubled with 9 million working. Polls show that senior citizens are now more worried about finances than they are about death.
Teresa Ghilarducci, an economist, is a retirement security claims specialist. She claims “There is no part of the country where the majority of middle-class older workers have adequate retirement savings to maintain their standard of living in their retirement.”
Last year, the Molnars grew more optimistic when they heard Trump promising in campaign speeches to help the “forgotten people.” Like a majority of older voters, Joanne voted for Trump. She said she thought maybe a businessman, an outsider, would finally address the economic issues that matter to her.
But the Molnars said that with each passing week of the Trump presidency, they are growing less hopeful.
“We’ll see. I’m just getting a little worried now,” Joanne said. “I just think he’s not going to be helping the lower class as much as he thought he would.”
“The rich help the rich, and I’m starting to think that not enough will fall down to us,” Mark said, as he methodically bolted together one of 170 new picnic tables.
Mark signed up to begin collecting Social Security this summer. Even with those monthly checks, he figures he’ll have to work at least 10 more years.
“Forget the government. It’s got to be ‘We the People,'” he said. “We’re on our own. You have to fend for yourself.”
At the end of a long day at work, Richard and Jeannie Dever met back at their RV. After mowing the grass in the hot sun, Richard, who is just shy of his 75th birthday, was sweating under his baseball cap. He was tired.
“It’s not fun getting old,” he said.
Asked whether he was more worried about dying or running out of money, Richard thought about it, then said with a shrug, “I guess it’s a toss-up.”
Jeannie took off her sneakers and rested her swollen ankles. Richard recently cut back to 33 hours a week, but she was still working 40 hours, sometimes a few more.
A few days earlier, she had spent four hours cleaning a trailer where the guests had used a fire extinguisher to put out a small stove fire. She got down on the linoleum floor and lay on her stomach to reach the dust under the stove.
In the years ahead, Jeannie said, she hopes to find a job where she can sit down.