Older Americans head back to work as cost of living rises

A survey by AARP found that more than half of Americans aged 50 and older worry they won't have enough money for retirement. One in four working adults 50 and older expect to never retire, and 70% feel prices are rising faster than their income.
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[@SeanTalkoff]

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[@SteveDutton-v]

The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.

[@tmer831]

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.

[@DavidCovington-st2id]

How can i reach this adviser?

[@tmer831]

Well, I chose Sharon Ann Meny as my advisor after her interview on CNBC In 2020. She is SEC regulated with offices in the US and quite frankly a genius with portfolio diversification.

[@DavidCovington-st2id]

Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance

[@VeeruDono]

I retired in 2022, thinking $300k would be enough. But living on a fixed income with ongoing inflation is challenging. Every withdrawal makes it harder for my savings to grow through compounding interest. The thought of having to work again in retirement is really scary

[@DaliTaliani-wz4ti]

I'm almost ready to retire, and having an advisor has been incredibly beneficial. Since I started investing later in life, I couldn't rely solely on compound interest from index funds. I've managed to earn more than some long-term investors. I'll be retiring with at least $4 million

[@VeeruDono]

Your financial advisor must be excellent. How can I get in touch with them? I'm worried about my retirement portfolio and could really use some guidance

[@DaliTaliani-wz4ti]

Understanding that everyone's situation is unique, I typically refrain from giving specific recommendations. However, having worked closely with Emily Ava Milligan for years, I can attest to her great service. You might want to see if she meets your criteria

[@VeeruDono]

I looked up her name online and found her page. I emailed and made enquiries. Thanks for the help

[@MCC876]

Needing to go back to work in old age is one thing. Finding an employer that will hire you is another.

[@JBoy340a]

Senior care facilities will hire people like her all day long.

[@Christinschrader-hd4io]

Not that hard kids don't want to work

[@KeithAllen-ti4iy]

@@Christinschrader-hd4io no there aren’t enough “kids”

[@LilannB]

Depends on the field. When I was 58 I was looking for work. I am a nurse the first 2 long term care facilities I applied to made me an offer the same day. At the facility where I was hired my supervisor was age 72. Several of the other staff nurses were in their 60s.

[@natashadickson4819]

Self-employ, if you can.

[@MelissaHobbs-qm8wi]

The cost of living seems to be increasing every year, making it harder to keep up.

[@AshleyKeith-vw7ws]

Indeed, it's becoming quite challenging to manage expenses.

[@ScottLarrry]

I've actually managed to stay ahead of the curve. I'm even contemplating early retirement.

[@ChloeCarter-kd7gz]

Impressive! How did you achieve that?

[@ScottLarrry]

Our family got introduced to a financial consultant”RPC WEALTH.” about four years before my dad retired. That was what changed things, and I think my retirement income will be on the right track, luxury cars and trips

[@EricaWaters-lr6zw]

Absolutely, RPC WEALTH. has a knack for analyzing market trends and helping clients make informed decisions.

[@DistrustHumanz]

If this is happening to Boomers, with all the advantages they had, just think about what is in store for the generations younger than them. The future is getting dimmer by the day.

[@jacqueslee2592]

Well, because boomers were also the most wasteful, materialistic, and profit hungry generation. They raised housing because they wanted to maximize profit for their homes, depleted valuable natural resources because they thought that natural resources are infinite and that pollution, chemicals, pollutants in water, food, and air are not damaging to health. Due to the damage that they did to the environment and to future descendants by causing indirectly and directly genetic conditions and illnesses, they also raised the costs of health care.

[@user-qk6di6wg9l]

FJB

[@mjblue84]

By the minute...dimmer and dimmer!

[@MBT372]

Not all boomers…😢

[@SpicyKimchi-]

Yes, just lay down and let it all happen to you. Surrender all control and ownership of your life and let it steam roll you. It’s getting dimmer and dimmer.

[@brucecohen7283]

I am a boomer and retired. My generation was told over and over again to save for retirement. Many of them did not. They spent all their money on bigger homes, more expensive cars, vacations and gave money to their children hand over fist. I watched my spending closely during my working years and saved as much as I could. Social Security is going to take hair cut sometime around 2030 to 2033. Your benefit could be reduced from 20 to 25%. In most cases that is right around $500 per month. You are being told almost 10 years out. Once again no one is listing. Now is the time to set aside some money to generate $500 a month or close to it as you can get, so you're ready for the haircut. Americans in general live way beyond their means and have a spending problem, i pray that anyone who reads this will be successful in life too 🙏🙏🙏

[@johnalex4006]

I agree with you had a senior colleague at work who was doing well but never had an investment. Unfortunately he lost his job and went from living a comfortable life to hardship. There would had been something to fall back on if he had an investment

[@perefeghaandrew8076]

You're right, you've remind me of what someone once said "The mind is the man, the poor is in it and the rich is it too". This sentence is the secret of most successful investors. I once attended similar and ever since then been waxing strong financially, and i most tell you the truth..investment is the key that can secure your family future.

[@user-hc8uu7wt9y]

Honestly You may never know the value of that €1 you have until you go bankrupt, the bad experience I had last year really made me feel that our school curricula should contain more financial knowledge and education. It is never enough to have a good job, a huge salary and all the luxuries at your disposal. But saving money and investing it wisely is never a bad idea,... I learned how to invest, no matter how little, but life really believed it show me the hard way.

[@Jameshenry-gu1fi]

You're absolutely, that's why I always urge everyone to start investing somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.

[@KleinMoore]

​@@Jameshenry-gu1fiYeah there's a lot of sense in these comments but so many people will view it as not reasonable enough due to the fact that many are middle class living paycheck to paycheck

[@doingtime20]

Are we really going to ignore the fact that the wealth of the richest people has multiplied in the very same period?

[@bmoshareholderappleshareho855]

The rich get richer and the poor get poorer. What else is new?

[@jitlv]

Is that a bad thing?

[@doingtime20]

@@jitlv It is if at the same time productive people of the same society are destitute.

[@jitlv]

@@doingtime20 I have to disagree, being productive doesn’t lead to wealth or getting rich. People who are rich have a strategic mindset, where they’ve worked on pieces that got them to where they are. It surely doesn’t happen overnight. While the poor who works day and night have a tactical perspective. The one that makes excuses and don’t look at the BIGGER PICTURE. Life’s results stems from actions we take, if you’re going to be just “productive” and live day by day - for sure you will be poor.

[@doingtime20]

@@jitlv Wow so much mental gymnastics. I'd like to see Bezos and his "strategic mindset" alone in Mars building an empire by himself, without workers.

[@truthteller4442]

Sickening that a country allows this to happen.

[@Novastar.SaberCombat]

"If you ain't rich, then you ain't sheet." --J.P.

[@user-zq4fv8sj6v]

@@Novastar.SaberCombat “You ain’t BLACK” -Biden, talking down to coloreds again

[@stoopidpeoplephuck2much5586]

Democrats

[@TDK2K]

It's not the country, it's the people that haven't prepared and amassed a great sum after working half their entire lives and expect the same treatment as smart and frugal people that did.

[@user-zq4fv8sj6v]

@@TDK2K You’re being overly judgmental. CLEARLY not everyone can afford that. There are other factors like poor health, accidents, natural disasters, etc. that more people endure but simply can’t overcome.

[@curiouspenguin6887]

You can't retire and still have a mortgage. The story should have mentioned this up front. Going back to work isn't as shocking if you still have a mortgage.

[@vickieclark5931]

EXACTLY! I don't know why anyone would retire having a mortgage or any other debt. Those that plan on living off their social security should know that it will be hard to live if they have a higher cost to their monthly living expenses.

[@romeysiamese6662]

@@vickieclark5931 Life happens: job layoffs, spouses die, divorce, pension fund mismanagement, medical emergencies, medical debt, home foreclosures, accidents, etc. . Some of these concurrently. Many things can destroy future plans, livelihoods regardless of how you set a plan for your future. I speak from experience. Hope you never have to experience any of these. 🙏

[@dantheman6607]

Yes and why does the poor thing have a mortgage at 74 ??

[@curiouspenguin6887]

@dantheman6607 Ask her. If she's 74 she was able to buy way before housing prices skyrocketed. Perhaps she didn't take financial planning seriously? Many people don't until it's too late.

[@DWilliam1]

Yup

[@Loretta_C]

The Golden Girls was on point. Many women, and men, will be moving in together in their later years. This will not only combat the housing crisis but the loneliness epidemic as well.

[@Sirius39170]

"You will own nothing and be happy"

[@thebastardgift]

Seniors needing roommates💔💔💔

[@Dre2Dee2]

3 women with mountains of debt, all broke, living together What could possibly go wrong?

[@yellowbird5411]

@@Dre2Dee2 3 women with mountains of debt, all broke, living alone in 2024, and each trying to pay rent, eat, drive their car, pay medical bills, dental bills, insurance, and buy clothes. What could go wrong? ; )

[@ForlornFreddy]

@@Dre2Dee2 Depends….

[@UncleDavesKitchen]

I'm about to turn 70 and just returned to work as an RN. I work home care for near drowning children on ventilators and tube feedings. They can't find nurses working for this population, I was a Pediatric Hospice RN and Pediatric ER RN ages ago. I needed the income but actually love being an active RN again and caring for children that need me.

[@SK-lt1so]

The healthcare field is full of jobs that no one wants to do, but don't pay great.

[@bradleycarson8801]

God bless you for your work in ministering to these children.

[@x-men69-96]

You should enjoy life and travel around the world instead.

[@raybod1775]

@@x-men69-96 I enjoy life working for myself and hobbies in retirement, not big on traveling.

[@SpicyKimchi-]

It’s a blessing to be doing something you love at 70, no matter what it is.

[@UnitedCorporationsOfAmerica]

The Top 1% of Americans Have Taken $50 Trillion From the Bottom 90%-And That's Made the U.S. Less Secure.Sep 14, 2020

[@g.t.richardson6311]

Economic illiterate

[@user-tb7rn1il3q]

So join the top 10%, it not hard

[@raybod1775]

Corporations get subsidies and write offs, get involved in politics to end it. A minimum corporate tax based on stock values would help so wealthy couldn’t avoid taxes. Eliminate trusts where wealthy hide their money. It’s the fault of politicians.

[@personnesenki4521]

How would that even work? The bottom 90% don't earn anywhere close to that kind of money.

[@UnitedCorporationsOfAmerica]

@@user-tb7rn1il3q Is that so? Why don't you tell us how to join the top 10%. This outta be good.

[@kortyEdna825]

Instead of trying to predict and prognosticate whether or not we’re going into a recession and precisely when it’s going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.

[@Pamela.jess.245]

There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.

[@brucemichelle5689.]

I wholeheartedly concur; I'm 60 years old, just retired, and have about $1,250,000 in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.

[@PatrickFitzgerald-cx6io]

Impressive can you share more info?

[@brucemichelle5689.]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@PatrickFitzgerald-cx6io]

Interesting. I am on her site doing my due diligence. She seems proficient. I wrote her an email and scheduled a phone call.

[@steverinaldi890]

And the cost of living will never reduce and go back down. It may taper off, it may slow down but it will never go down. Welcome to the new America.

[@BrendanMcClelland]

It looks like Americans are going to have to consider moving to another country.

[@underground9260]

It’s always been like that

[@vladimirofsvalbard9477]

@@BrendanMcClelland There is no first world country that is cheaper than the US. It's all tied to the same monetary system. You'd have to go to a 2nd or 3rd world country.

[@BrooklynBaby-1]

@@vladimirofsvalbard94774th or 5th world country 🌍 at this point 😅

[@ragepie292]

@@underground9260 Exactly. What new America are people talking about? Inflation has always been a thing. I has just gone up more than normal because they sent out so many checks to everyone.

[@richatlarge462]

Who says that Americans have to keep living in the United States?

[@onion6foot]

Kind of cruel and unusual to FORCE them to have to leave.

[@richatlarge462]

@@onion6foot agreed, but somehow life in America these days makes a lot of people WANT to leave, especially when they are retiring and can get by just fine in certain other places around the world

[@leabush2608]

@@richatlarge462bora bora

[@ES-qu1jd]

Medicare doesn't pay for overseas healthcare, I believe, but I may be wrong.

[@richatlarge462]

@@ES-qu1jd you are right, but that shouldn't be enough to deter retired Americans from living abroad, purchasing extra insurance for emergencies, and visit the US for planned medical procedures

[@GSXSF-250]

I retired at the age of 62 years old and headed to the Philippines. Now, I have a nice comfortable retirement and can afford good food and utility bills.

[@goldbrick2563]

Why isn't food expensive in the Phillipines? Isn't it all the same u.s. corporations selling the foods, just in phillipines grocery store...like heinz ketchup, doritos chips etc.

[@ShutterSpeedGaming]

⁠@@goldbrick2563😂😂😂 you call “ketchup” and “Doritos” food!?!? You trippin. Fruits and veggies from the land of the Philippines 🇵🇭 😊

[@goldbrick2563]

@@ShutterSpeedGaming 😂 u kno what i mean bro. All the junk foods, crackers chips, ice creams, condiments, breads, frozen foods, sodas etc. its all u.s. companies. So how phillipines cheaper?

[@Zephyrusic1983]

@@goldbrick2563 your dollar has a higher value here. To you the prices of food is cheap, but to us living here its expensive. Although my mom has pension from the States, i live with my parents and earning only 200 dollars a month as a government employee ( contract of service). That is a poor income.

[@ISpitHotFiyaa]

How's the healthcare though? I think that's what concerns most people about retiring abroad.

[@PurpleOcarina]

Everyone is talking about mortgage. You shouldn’t retire with a mortgage. Bro rent costs are right up there with mortgages. Whats the answer for people that want to retire but have to rent because they can’t afford a house

[@thebastardgift]

If a person is renting, then retirement is out of the question. OUT. They are even evicting residents from nursing homes.

[@Hunterchuck]

Media speaks to the middle and upperclass, not the poor working class. There is no answer for us other than sleep underground.

[@thebastardgift]

@@Hunterchuck Respectfully said, please consider mental health options.

[@ragepie292]

Quite simply you don't retire. Why you you think you deserve to retire?

[@thebastardgift]

@@ragepie292 some Boomers have worked since they were 12 years old. What you think is a "Deserve" is really an Earn.

[@ca60453]

This is why I will be moving overseas. I rather be in a Third World country then be old with broken bones struggling to work just so I can eat and have a roof over my head. Cost of living in this country is caused by corporations and overspending by our Government. Enough is enough.

[@patricedixon2634]

True and government big spending is used for the Congress members. They get it all.

[@specialagentorange4329]

Highly doubt you will move. You will just have different problems.

[@ca60453]

@@specialagentorange4329 I lived overseas in Ecuador and Philippines and I loved both places. Everything was affordable. I bought 24 eggs for $ 1.97. I rented a 2 bedroom apartment for $ 525 per month. Can't beat the quality of life compared to the states.

[@smacdiesel]

Good luck.

[@AllisonSherman657]

I didn't become financially independent until I was in my late 30's, and I'm still in my 30's. In addition to having purchased my second home and earning money on a monthly basis through passive income, I've also achieved three out of five goals. I just hope this inspires someone to realize that it doesn't matter if you don't have any of these things yet, you can start today no matter your age. Change your future by investing! I made a rather big decision by investing in the financial market.

[@rougeur]

I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks..

[@face2lune]

I keep wondering how people earn money in financial markets, i tried trading on my own made a huge loss and now I'm scared of investing more…

[@AllisonSherman657]

@@face2lune Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances...

[@face2lune]

I’m Glad i stumbled on this. Please, if its not too much of a hassle for you, can you drop the details of the CFP that assisted you and how to get in touch….

[@AllisonSherman657]

@@face2lune I get guidance from *Susan Tori Davis* Most likely, the internet should have her basic info..

[@anthonygarrone5272]

this is disgusting 🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️

[@specialagentorange4329]

I dont think it is

[@Ss1mega]

All part of the plan.

[@mjblue84]

Exactly!!!

[@vickieclark5931]

Yep. If that plandemic has not woke people up by now, then it never will.

[@idresufts5849]

Finally, somebody figured it out.

[@PrettyEyesz]

Yep!!

[@ZaveskyBay]

May I ask, what’s the plan exactly? What’s the end goal to all of this?

[@containedhurricane]

I'd be lucky enough if I could get a job at her age

[@rsimmons1980]

Just get a government job

[@jims7773]

@rsimmons1980 easier said than done

[@containedhurricane]

@@rsimmons1980 The government prefer young people

[@rsimmons1980]

@containedhurricane no they don't. I work for them. They hire all people. It's the largest employer!

[@bmoshareholderappleshareho855]

@@rsimmons1980 From what I heard, government workers just keep on passing the jobs to family members.

[@Girl-eg7fs]

She looks good for being 74

[@johnmanning4097]

That’s because she’s been retired 12 years and was leaving a peaceful life until she had to go back to work SMH 🤦🏽‍♂️

[@vietnamvet4533]

You should see me.

[@kev7161]

It's especially sad to see someone who needs a walker for help in mobility having to work. There's no shame in using a walker - that's not my point. It's just that she should be in her comfortable home with her feet up not having to worry about $$.

[@chanela.7786]

I remember back when I was still in hs around 2016/2017 working in retail I had quite a few coworkers that were elderly and remember they wouldn’t even really get to sit down during times the store was slow. It really made me contemplate how hard things were getting to see these people still having to work at their age…

[@robertf976]

The greed of the rich and the corporations is not surprising. They are heartless sociopaths

[@billmM3605]

Just becsuse they made smart investments and did things right doesn't make them heartless sociopaths. Grow up.

[@SkankHuntForty2]

Don't blame the rich because they knew how to manage their money.

[@vickieclark5931]

It's not greed, it's being smart with their money. If people would stop blaming corporations, the rich, and everyone else, and started to take responsibility for their own actions, then there would be a lot more people retiring with a good amount of money of their own.

[@raybod1775]

Anyone who accumulates wealth works hard for it and makes positive contributions to the economy. Even a crook like Trump.

[@maribelle7673]

@@billmM3605Some of these people lied, cheated, and stole their way to financial windfalls. Not everyone earned their money fairly.

[@UnitedCorporationsOfAmerica]

Ten richest men double their fortunes in pandemic while incomes of 99 percent of humanity fall Published: 17th January 2022

[@user-dc4uo2sh1t]

I think you need to do research

[@vickieclark5931]

@@user-dc4uo2sh1t Unfortunately, he's not far off. The pandemic was designed to hurt the middle & lower class and many that were already wealthy became even wealthier. That was the whole point of the pandemic.

[@TDK2K]

money makes money. nothing makes nothing.

[@johnrobi0]

Bidenomics is working, then.

[@ddellwo]

So what we proved is that dumping a bunch of “free money” on the masses does NOTHING - those dollars simply flow UP through the food chain in short order. In all honesty, what did you ever buy from a poor guy…….???

[@johnevans1969]

I've been totally and permanently disabled since 2001, what do folks like me do? Fixed income, VERY FIXED INCOME. What do we do if the checks stop coming? We are in serious trouble folks

[@Ryan-wx1bi]

Is there no way for you to do work from home jobs that only require a computer? I'd assume no if you're commenting on here.

[@ragepie292]

@@Ryan-wx1bi No they are too busy posting on youtube. They dont have time to work.

[@jennifershanks453]

I work at Lowe’s and we are at least half seniors!

[@vietnamvet4533]

And let me guess like the little part time job I have, we are the best you have right?

[@BruceLee-lm7lh]

We should be helping our seniors instead of illegal immigrants

[@haveanicedave1551]

but they probably voted for democrats which supports illegals. they have themselves to blame.

[@coniccinoc]

I don't want to help someone who wants to "travel the world".

[@ShutterSpeedGaming]

@@coniccinoc😂😂😂

[@koobea4859]

@@coniccinoc yes, how dare she have dreams like that after working hard all her life.

[@sandio9801]

@@coniccinoc You would rather help somebody who is here illegally looking for hand outs.

[@matthewmitchell68]

Retirement is the biggest fairy tale ever told.

[@TheRubberStudiosASMR]

Not for previous generations

[@HettesKvek]

Retirement is going to be one of those ancient historical facts that middle schoolers will read about in books 1000 years from now and wonder how such a thing ever existed in the first place.

[@sandio9801]

Not for me. I'm loving retirement because I prepared for it.

[@vietnamvet4533]

Gee don't tell that to all of us living the dream here in Florida, without a care in the world. The non stop spending I see all around me is amazing, where people are getting all this money, I wish I knew the secret.

[@tjr4459]

This is so dystopian.

[@mdavis3262]

This is unacceptable. A 74 yr old retired teacher having to come out if retirement makes my blood boil.

[@vietnamvet4533]

If you voted for Joe in 2020, no one to blame but yourself, if you voted for the Trump who keep prices down his 4 years in office, yep I'm mad also.

[@troyc11]

She wasn't responsible. Mortgage at 74? A person should retire with no debt and no prospect of taking out any debt.

[@tttai8993]

Unfortunately my grandmother is in the same predicament. 74 years old, worked all her life but cant retire. Shes a RN and shes facing age discrimination at her job. Her boss wants her gone but she cant. If she retires she wont be able to pay her mortage. It's a scary existence and I hope in 40 years time Im not in the same position.

[@derickshalo384]

Save save save

[@vickieclark5931]

See what mistakes your grandma has made and don't make those. Mistake #1 is her retiring with a mortgage. Make sure you are 100% debt free. You have time to do it so there are no excuses. You want to retire with as little amount of bills as possible. The less your monthly bills are, the more manageable they will be when you are retired.

[@raybod1775]

Mortgage refinance is one of the biggest financial mistakes people make, pay off house as soon as possible.

[@ddellwo]

With all due respect to your grandmother, you usually don’t end up where she is without lots of mistakes. Figure what they were and don’t repeat them! Having a mortgage and/or car payments in your 70’s is ludicrous. Whenever possible, don’t become a single parent. Don’t start having babies before you can afford them. There are many, many more - some people are little more than walking, talking warning signals……..⚠

[@tttai8993]

@ddellwo No you're right she made a lot of mistakes in her youth. Now she's stuck paying a mortgage and has 4 children that can't help her because they are broke too. It's sad.

[@ktbfh]

I'm a 48-year-old doctor feeling burnt out from long hours and stress. I've never invested in a retirement portfolio because I've always believed the economy would collapse eventually. However, I plan to retire soon and I'm curious: If you had $100k to invest safely in stocks over 4-5 years to grow, how would you start?

[@wineski]

I believe a healthy portfolio has 3 things, at the bare minimum: Exposure to ETFs for increased diversification, Exposure to assets that generate cash flow like dividend stocks, Exposure to market-leading tech.

[@stillrising1999]

At the end of the day, there's no one particular way of bridging that gap. but starting to save early and investing in the financial markets can never go wrong. if I were to start over in 2024 with less than $50k I would still use the portfolio management play-book.

[@c.t.u.o]

think you could suggest any professional/advisors i can get in touch with? i'm in dire need of proper portfolio allocation

[@ktube2020]

Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info

[@kendraburke864]

Precious metals, Bitcoin, XRP. Prepare for the dollar crash

[@yeah_right88]

Complete misinformation. It was the death of pensions that cause this. Cost of living goes up every year. Most people are now only being supported on social security while businesses have done away with pensions and increased CEO pay. That is the economic fact.

[@mt.shasta9127]

Come to America!!!!!! Work till you’re dead and be poor the whole time!!!!!!!

[@katerinesantana6060]

Even with an amazing 401k, future cost cannot never be predicted. The rise of 20 to 50% inflation in these past couple of years have hurt even the people that carefully saved for retirement.

[@daralynx2]

Correction: Older Americans (with a mortgage) Can't Afford to Retire. Buckle down and pay that off in your working years.

[@stevenliang3213]

And if they are unable, then what?

[@terry3944]

If you bought a house and can’t pay it off in 30 years, you should not have bought it in the first place

[@marlondavis5128]

Best comment!!!

[@michaelc1063]

Correct

[@michaelc1063]

​@stevenliang3213 Sell the damn house

[@Kolorboyux1wb]

HOW disgusting that that elderly woman who is chronically ill walking on a walker, overweight, full of arthritis, is trying to figure out where her next dollar is gonna come from before she starves to death. Space space, only in America.

[@Misaka-gt5yj]

Funny enough in Chicago, the property taxes are massively hiked up in the past few years and pricing retirees out of their homes they already paid off. Ever been to cook county lately? They are enjoying the consequences of voting for their current local government.

[@chosenrushing5792]

@Kolorbouux1wd what’s disgusting is that you are assuming that she is chronically ill, full of arthritis, overweight or even trying to figure out where her next dollar is going to come from. How about growing up? (Mentality wise) You don’t know her, you are only assuming!

[@bathombre9739]

She is 74 and still has a mortgage??

[@CDN1975]

It happens.

[@spaceballs44]

My mother is 65 and still has a mortgage.

[@debbiecreter2005]

Things in life can happen that can derail anyone financially at any time. This lady is not alone in still paying on her mortgage. She didn’t discuss any details.

[@sheg2291]

my cousin in law is 71 and still has 20 yrs to pay in mortgage...

[@user-xd7rc6eo8n]

She is a fkin idiot. If you have a mortgage then she sure as F has equity. If she has equity she takes that out and buys a small house in the country for cash. These people are fkin morons.

[@2009polostar]

No wonder a lot of retired citizens have moved out of the country to places like Ajijic Jalisco, Mexico, where the cost of living is way less than here in the US.

[@gdcapra]

It’s not safe to have a mortgage during retirement. Just paying the taxes is hard enough

[@MrMds414]

Why would you retire with a mortgage? And she's 74...

[@crystaldon4995]

You have to save! Say no to fast food, coffee out, shopping etc. say nooooo.

[@zaneshark]

In other words, better to have never been born.

[@newtonsurmiser2319]

In other words, yes have no life. What's the point of living then, saving everything for later years which may or may not come. There must be a balance, but I don't want to spend my life preparing everything for old age & death. Seeing life in those terms is thoroughly depressing.

[@IndianOutlaw1870]

Saying "no" to non-essentials doesn't give you "no life."

[@Leo-z1v]

I would rather be in the dirt

[@saramatthews7159]

Same here

[@sew_gal7340]

Sometimes i pass by a cemetery and think...who is luckier? The living or the dead?? Life is so much suffering, those who are resting are free forever.

[@user-qk6di6wg9l]

I blame Biden!

[@vickieclark5931]

@@user-qk6di6wg9l Although, I agree that he is a pathetic president that has run this country into the ground, you still have to manage your finances well. Because regardless of who is president, if you don't handle your money correctly, you will be on the street.

[@raybod1775]

@@user-qk6di6wg9l It’s both parties spending too much and allow wealthy to avoid taxes. Biden is continuing what Trump started with trillion dollar deficits, blocking cheap Chinese cars and not allowing the masses to buy cheaper drugs from other Western countries. Two old corrupt mentally deficient men running for President, great choices.

[@hikercat0126]

This shouldn’t happen. Shame on the government for not taking care of our elderly first and giving the money to thw illegal migrants.

[@MIkeKDBA]

It's not the governments fault that the woman in the first half of the video has poor financial planning skills and kept her expenses high when her income got lower.

[@marshamckee2479]

It's not the governments responsibility to take care of seniors..WE HAVE ENOUGH WELFARE IN THE COUNTRY AS IT IS

[@ShutterSpeedGaming]

“Illegal immigrants” you mean 😒

[@truthseeker6338]

You Forgot 100 billion for Ukraine

[@idresufts5849]

She might have retired with a mortgage, because her spouse was alive and both could have afforded to cover. If she's a widow, the rules will have changed. Yes, she could have downsized into a smaller home, condo. But they are also evicting the disabled seniors from their apartments. Not cool. 😢

[@chosenrushing5792]

She is not a widow, her spouse is still alive. Life happens.

[@elizabethhennessey6437]

Had to go back to work at age 72 - hate it.

[@Omar_Zazzle]

She could get a roommate to help pay the mortgage.

[@bmoshareholderappleshareho855]

Remember that sitcom The Odd Couple? From what I heard and seen, you are better off living alone. It's been said, that you could be the best of friends with somebody, but you just can't live together.

[@tenossos]

@@bmoshareholderappleshareho855 Like marriage, roommates works very well for many, not well for others. Have to pick the right person.

[@les0101s]

@@bmoshareholderappleshareho855 Golden Girls was a better sitcom.

[@randomsh-t917]

Its still better than korean grandmas. Pickings up cardboard.

[@barbaraguthrie8160]

I can't see me going to stop and work I'm 61 and I don't even see retirement for the cost of living and I don't want to live with my daughter and I don't want to depend on everybody so I just keep working and thank God I'm able to work bless all the other older adults working we have to keep our independence

[@okigi-wo5zm]

During covid small businesses were closed. Big corporations allowed open. Support small businesses.

[@PoppyParker-ef4le]

Sad many older Americans had their mortgages paidoff but then refinanced to help adult kids who promised to help pay it back (but didnt) or medical bills. Worked with refinanced mortgages for almost 17 years sad sight to see

[@kcar8974]

😂😂😂 okay buddy. Always finding a way to blame it on younger people. You old folks are the reason the economy is the way it is. What was it like $1000 to get a degree back in your day?

[@ShutterSpeedGaming]

@@kcar8974say that!!! 😂 these Boomers are delusional 😂

[@SpicyKimchi-]

Let’s first talk about why someone would even retire with a mortgage.

[@luisvilla799]

Maybe got a late start in career I was a teacher and now at the age of 40 I changed career for financial and mental health

[@SpicyKimchi-]

@@luisvilla799 no I mean, late or not, if you still have a mortgage, you probably shouldn’t leave the workforce and keep that job until you’re debt free.

[@luisvilla799]

@@SpicyKimchi- yeah true this is why I live in a shoe box in Houston lol

[@AEvans36963]

Maybe she refinanced her house. I hope it's not a reverse mortgage. Buying a house is dangerous enough, but esp after 50, so I see your point.

[@UnitedCorporationsOfAmerica]

Do you ever think life isn't a perfect path that YOU think it should be? You don't have any business judging another person.

[@anniesshenanigans3815]

Wait a minute. She retired 12 years ago and still has a mortgage?? So that is a big part of the problem for Americans. DEBT. Whatever you do, do not think you can retire with a mortgage or other debt!!

[@richatlarge462]

Rent costs just as much as a mortgage. What you really mean is, you expect people to own their own homes outright in order to retire.

[@christaylor8337]

Yes

[@user-xd7rc6eo8n]

Depends. Im sitting on 3 homes. One has a mortgage and it's 2/3rd paid. Other two, rental income. Always exceptions to the rule.

[@chosenrushing5792]

Assumptions…

[@coppingtonfarnham7731]

We have no debt...no mortgage, car payments, loans, credit card debt. But if my wife, who is 61, were to lose her job, health insurance would be a major problem. She's had a stroke and has diabetes so not sure what that would do to the premium. Cost of all insurance is a major problem/burden, and cost of food is another, presuming you don't have the other bills from my first sentence. Because of senior tax breaks, property tax as an issue has lessened...

[@ragepie292]

Your wife is a year away from qualifying for Medicare if she has a serious illness. There are still costs associated but there is also a cap. Plan to spend the cap.

[@beth3535]

The property tax breaks are inadequate. NYS is grabbing at that revenue, reassessing every year, and impacting folks who did everything else responsibly. I’m a Dem looking for change.

[@kathleendonnelly6077]

Any senior citizen who is able to get hired is a success. There is ageism in getting a job. Of course it is very sad our country lets the older generation struggle.

[@raybod1775]

Most seniors do, but many do not.

[@MB-xv7er]

That’s a good thing. We need more ageism because older people create drama in the workplace especially for us young women. We need more ageism because we don’t have enough!

[@Someonebutnoone10]

Pay your mortgage off before you retire! Do not get a new mortgage when you’re about to retire!

[@chosenrushing5792]

Don’t assume you know her or what she has been through. You don’t even know if her mortgage was paid off at the time of her retirement and if life just happened to LIFE, to make her have to pull another mortgage or refinance…

[@meleejones]

I started smoking again. Problem solved.

[@ShutterSpeedGaming]

Bad idea 👎🏾

[@bootscooty]

They got people rushing at the Amazon warehouse where I pick up. That's all I'm going to say. Sometimes I think to myself I'd rather live in a country where people just take their time. Things are slower but people aren't distressed out and uptight

[@donnaallgaier-lamberti3933]

Yes, my 79-year-old-husband works three days a week at a big box store. This helps us to pay our property taxes, put extra money down on our mortgage principal and into savings for unexpected/unplanned expense (like a failing furnace, water heater. a/c repairs, our 2012 used vehicle repairs etc.) We long ago cut out any trips/vacations, Smartphone, cable TV, eating out so there is pretty much nothing left to cut out of our budget. Oh and by the way my IRA savings runs out in 8 years when I am age 80. Not sure how we will manage then....

[@ragepie292]

Well you can answer the question for the lady in the video. Why do you have a mortgage at your age? What went wrong? Save the next generation.

[@CroisMoi]

It doesn't matter how old you are. If you don't have a paid for house, and a chunk of money, you cannot retire. My dad retired at 85. That is life. He enjoyed his job and I think it kept his mind active. My brother and I are early 60's and know we probably can't ever retire. There are too many unknowns. - I think we need to take a hard look at retirement being a lifetime goal. Save for it, but keep working if you are able. Then you will not end up like this woman.

[@beth3535]

I work between 10 and 20 hours a week. Half (before taxes) goes into a 401K; the rest gets taxed at 22%. House and car are paid off. No debts. With a modest social security income, I live carefully but comfortably and save religiously. At 70+, people feel sorry for me, which is kind pretty clueless. I’m not sure how long I’ll work but I have flexibility to take time off when I want it, and the income has allowed my to put off drawing on my retirement until the end of 2025. At that point, if still working, I’ll shift 100% of the income to the 401K. Would I like to have more in-hand cash? Sure. But I’m enjoying my semi-retired life after financial hardship offset by hard work and disciplined saving. I’m grateful.

[@BokeemWoodbeezy]

They about to pull themselves up by their bootstraps

[@user-of2co3ke5p]

🥴

[@spaceballs44]

Well that lady is and she uses a Walker. One day she dosent call or show up for work and her boss tries to call her and decides to go to her house to check on her and that’s how her boss finds out she passes away.

[@kcar8974]

Yup 😂😂😂 I’m here for it

[@dtr579]

I'm 56 and I only have 8 years left to work as I'm planning to retire at 64. I look at my buckets of funds everyday to map out my monthly income. My social security check will be about $2800 a month, and I plan to draw $2K from my 401K until it's exhausted around 7yrs. That will put me at 70yrs old, then I will start drawing down on my IRA, which my projections say I should have $1Million dollars in that, if nothing falls apart in the next 10 years. I should be okay in retirement.

[@bodhixxx1]

until they devalue the dollar into nothing US dollar on the brink of hyperinflation. a 1980 crew cab 4x4 pickup sold for $7000 ( in rough condition) 2 young bred cows also sold for $7,000 that is just not right. In reality that truck would of sold for $1500 tops and those cows would of sold for around the same price.

[@DRventura333]

ensure you factor in inflation into your formula of projections

[@creativereinvestor]

A million dollars in nothing in the United States, you should move to a cheaper country, where you can live comfortably with 2 k a month, you buy a house for 100 k

[@creativereinvestor]

And be careful back in 2008 / 2010 financial crisis an old man had 740 k invested, all the money was being handled by advisors, to make a long story short the man retired at 62 and he was getting annual returns from this 740k, the market went down he lost everything all his money all tied up to speculation, retirements accounts can be dangerous

[@dtr579]

@@creativereinvestor The stock market will go up and also down. But if you don't sell at a loss, you will make money when the market recovers. I've been in the market for awhile and I wouldn't have the amount I have if I didn't stick with it thru the good and bad days, months or even year. Just keep investing and you will be okay.

[@kartiersupremewhite330]

Extremely interesting and informative...Times are definitely challenging!! What I learned late in life is definitely live below your means......

[@gravitas7583]

Pray for America.

[@vietdo1865]

I'm just curious how she has a mortgage still at 74

[@Omar_Zazzle]

She bought her house in 1975 and it was $25,000.00 and her mortgage was $375 a month and she paid the minimum and spent the rest at the bar.

[@scarycarrie1809]

Maybe she bought the house at a later age and didn't/couldn't refinance a 30 year mortgage into a 15 year one.

[@chosenrushing5792]

@vietdo1865 you’re curious about the wrong thing…@Omar_Zazzle please go and have several seats somewhere! You are very ignorant and need to grow up!

[@sew_gal7340]

The most common answer according to statistics is bad financial decisions...if you are 74 and working (unwillingly) you did not plan far ahead enough. If youre in your 30s and dont already have a mortgage and close to a mill in the bank you are gonna be in this boat soon...nose to the grind or suffer it is all up to you

[@gordonchow2203]

Supporting her kids and grandkids.

[@Native722]

They'd have to deal with age discrimination

[@44Mag]

The only way to make it nowadays, is if you bought your house prior to 2001 and are debt free. My mortgage is small (under $500) and I have zero debt, but when you add up all the basic costs, it is still about $20k per year, and then food and medical bills (which we all will face as we age) tends to make things very tight.

[@malewire1263]

Meanwhile filthy rich 🤑 have gotten even richer!!!

[@coniccinoc]

I guess it is easier to hate that it is to better yourself. I was dirt poor and now I am wealthy, wealthy is better.

[@Hunterchuck]

@@coniccinoc It's like having lots of food while everyone around you starve. It's a good feeling i'm sure.

[@coniccinoc]

@@Hunterchuck Money gives you options.

[@dimediamond]

Sadly a single women with a mortgage will have to have additional income. Maybe a roomate to share expenses with to lessen the cist of livjng .

[@stephaniecorelli3034]

I dont understand America

[@Misaka-gt5yj]

You only have your politicians to blame for enabling such reckless spending and diluting the spending power of your savings while jacking up taxes.

[@Hunterchuck]

Taxes have remained the same lol The problem is the greed in the housing market. Housing being a marketplace is just a funny idea isn't it?

[@amandanichole8648]

So it's ONLY the housing market that's the problem?? ​@@Hunterchuck,nah it's people like you and the politicians that enable such ignorance. Taxes went up. Interest rates went up. Prices went up etc. all of this is basic things you can look up on the Internet but sure.

[@Hunterchuck]

@@amandanichole8648 Tax code is the same. Where did you get your info from that says otherwise? Because you can literally look at the tax code from year to year. Interest rates have increased but that's not federal government doing that. Also, i've not contributed at all to the political system. I don't vote because no candidate represents my principles. Bernie is as close as it gets and he's already been screaming and shouting about these issues for many years 🤷‍♂

[@NonMeta_]

If this was just happening in America, you could blame the politicians. This is happening in first world nations all over the world. Corporations are the problem.

[@janemm1567]

Sad to see this happening more often. At the minimum, they don’t give up and try to be no one’s burden.

[@AKAAAK]

I thank god wife and I are leaving the country in a few years, retiring early 59.5 & 55. Take the money and run 💰🏃‍➡️

[@maribelle7673]

I plan on retiring early, too! As soon as I’m age-eligible to leave my job and collect my pension, I’m out!

[@richatlarge462]

Smart.

[@lour9348]

Where is her family? Can they help??

[@TomikaKelly]

Then who would help her family once her family uses their resources to help her?

[@user-of2co3ke5p]

​@@TomikaKelly Exactly!

[@UncleDavesKitchen]

lots of families move together or close together for the support. Did that for centuries and looks like we're headed back to multigenerational families

[@CroisMoi]

You don't know this woman. She could have been a horrible mother and the kids don't talk to her. Even if she was OK, if her kids support her, they cannot save for their own retirement. She needs to work. We all need to get over this idea of retirement as the ultimate goal. Just keep working. My mom retired at 75, she is 85. She would have been much better off just working at least part time. She would have plenty of money, and not be as bored as she is now.

[@dazzlenovak7519]

Too busy working themselves to death and not being able to afford anything.

[@karenhardie1132]

For many, you can only work as long as your health holds out. At that age health issues are worse.

[@carolynwheaton8547]

Pray that I do not have to return to work.Pray harder.

[@rg8733]

And they say you should have kids so they can care for you when you're old. This poor woman said she would be homeless if she couldn't pay her mortgage, horrible.

[@kcar8974]

Why in the world would you have kids to give them a job??? I would never want to burden my kids like that

[@user-je5nn2lq5j]

Unfortunately, many older adults are still taking care of their kids.

[@ShutterSpeedGaming]

It’s not your children job to take care of you when you get old! You’re suppose to plan for that. Not put that burden on your children 😂you boomers are something else!

[@ShutterSpeedGaming]

@@kcar8974say that!! 🎉🎉 you been in the comments cooking these boomers 😂

[@mnkwazi]

Boomers are finding out that for the rest of us things are not easy.

[@mnkwazi]

@phoenix71232 No I don't believe they automatically had it easy. The reality is boomers talk so much "shy-t" about other generations. When they were young and middle aged America was booming and they do not take this into consideration. Fact!

[@phillipmoore6249]

@phoenix71232 she had a $450 mortgage for 40+ years. Made minimum payments. My rent is $1,500 a month and I’m not crying about it

[@shanjan9896]

My parents were Boomers. They didn't have it easy. They struggled a lot. They were just trying to live their lives, raise their kids and you over here hating on an entire generation of people that didn't write any laws or enact any policies. Blame your government.

[@Barbara-jn2gw]

shanjan started with Reagan

[@kcar8974]

And they can’t hack it

[@danpiazza3803]

You wanted this world boomers

[@dawolvx3098]

With all the taxes we pay (payroll, utilities, registering vehicles, property taxes, county taxes, state taxes, Tax money the politicians send to every country etc etc) you would think this would not happen ... sad as hell

[@ronl2463]

But Biden said his economic policies are working and everything is great!

[@oldtwinsna8347]

This generation had access to private industry jobs with pension plans galore, something rare today for new job seekers outside of government jobs. They didn't need the same level of education as today. A HS diploma was plenty, a bachelor's had the weight of two master degrees today, plus college was cheap anyway even adjusted for inflation. Homes in the 70s, 80s, and 90s were significantly cheaper even inflation adjusted as those were not yet seen as investment engines, just a necessity. Yet, these people didn't even bother to take care of their basic necessities, instead wasting their spending on other things they'll never talk about.

[@lisaporter3301]

Spending on things like their dead beat kids!

[@kcar8974]

@@lisaporter3301all you old people blaming your kids (that you chose to have) for you all being irresponsible is so funny. 🪞 it’s not your kid’s jobs to take care of you

[@MsTrish3520]

Property Taxes, Insurance cost , gas etc. are all causing this problem.

[@Hunterchuck]

Not just property tax but the greed of the housing market in general. Housing being a market is a funny idea.

[@catmi3068]

I am still looking for a job after being forced out from my job. It’s hard to find a job at my age over 60 and not eligible for social security either. I am glad that she found one.

[@chosenrushing5792]

She said that you can register at AARP for the AARP Senior SCSEP program, if you have this in your area

[@schan9547]

Good luck and best of wishes!

[@bmoshareholderappleshareho855]

You can apply at Wal-Mart or McDonald's.

[@smreason]

Although you get less at 62 than 67, you get 5 more years of it. So still good unless you live 78+.

[@timothywilliams3254]

Security at a Gatedcommunity

[@kiswindsidaguigma9261]

Things will get worse because our national debt is still growing, which means more interest to pay.

[@raybod1775]

Never ending inflation

[@Barbara-jn2gw]

the tax cuts in 2017 added 4.7 trillion to the debt, went to the too 3 ,% and added to inflation

[@lvjungle2840]

I mean 60years ago price of the home and good are different. So money you earn 60 years ago will not helping you now. Same thing for us. 60 years from now 😂 we are dooommm all houses gonna cost like 5million

[@TokerJoker420]

I plan on moving to another country this is why

[@matthewc9806]

Another issue with this is they take jobs from young people who need them to get their career going.

[@WillyPark]

We’re all working at some low paying thankless job until the day we die.

[@roadkillgravy5168]

Not all of us.

[@kendanbrown198]

Speak for yourself nephew

[@ShutterSpeedGaming]

Speak for yourself 😂

[@zw1588]

It is very sad.

[@Tamar-sz8ox]

I’m glad she is working part time and not full time

[@allegra9967]

Because home ,care,and Medicare insurance has gone way up !!! Electricity cable groceries.

[@welcometosusansmukbang9215]

Move to another country with your social security & 401k money. You will be happier ❤️ Shout out to WBBM Station 👍💯❤️

[@jon6309]

hmm I work in banking trust services and I noticed people who work pass normal retirement age are from the extreme ends of the wealth gap. They are either too poor to rely on social security, 401k, or pension income so they have to continue working but I also see very wealthy people in CEO positions that are still working in their mid 70s. One of our clients that I work with comes from a prominent family that has economic history to the state that I live in. He is turning 76 this year and still works as the CEO for one of the family's organizations. He considers himself poor but makes 200k a year from this job plus he collects social security and other savings from his years of service.

[@les0101s]

Some people really enjoy their jobs. Being CEO is probably a fun job.

[@user-of2co3ke5p]

​@les0101s Keeps him active and something to do that is stimulating.

[@JBoy340a]

I think is more enjoying the job than money. I know someone that does woodwork and finish carpentry. He makes good money, but also does carpentry as his hobby. He is in his 70s and says he won't retire until he can't do it anymore. He currently works 3 days or so a week.

[@jon6309]

@@JBoy340a You haven’t met our client and trust me he does not enjoy the job at all. It is actually very stressful and he fusses about it all the time!

[@Chris_Cross-pf3dp]

This says a lot about our country! The same is happening to my mother as well, so this tells me that I and many others need to prepare ourselves for what’s coming.

[@natashadickson4819]

Self-employ, if you can.

[@learningearning8385]

Don’t let ppl tell you that buying a house “isn’t worth it”. Having a paid off home is part of the retirement plan. Social security was not intended for ppl still renting.

[@thebastardgift]

💯💯💯

[@ShutterSpeedGaming]

Say that!!! 🎉🎉 😂this is the way!! My home will be paid off next year! I’m 35.

[@thebastardgift]

When people "retire" and still renting equals walking off the job.