Older people like Ricky Bowman are going back to work because of financial insecurity they don’t have enough money to cover the higher costs of living but they’re having a hard time finding jobs showing how tough it is for seniors to make ends meet.
Senior Citizens‘ Financial Insecurity to Make Ends Meet
According to MoneyWise, Ricky Bowman aged 66, didn’t plan to work again, but the high cost of living changed his mind. Living on food help and about $1,400 a month from Social Security isn’t enough. He had to give up things he loved like fishing, just to get by. Many seniors like him struggle with financial insecurity because prices keep going up and their savings and Social Security don’t cover all their needs.
Lots of older Americans are shocked by how much things cost at the store and they’re using up their savings quicker than they thought. A report from Harvard shows that one-third of older adults had trouble with financial insecurity paying for housing in 2022. Even though there seem to be plenty of jobs older people have trouble finding work, especially in places like fast-food restaurants where they prefer younger workers.
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1 in 3 Seniors Struggle with Financial Insecurity: The Growing Trend of Older Americans Returning to Work! (PHOTO: National Council on Aging)
Advocates Highlight Urgency in Assisting Seniors Navigate Employment and Financial Struggles
Furthermore, groups like One Community Now notice more seniors asking for job help but it’s tough for them to find work. This shows how important it is to find ways to help older Americans handle financial insecurity problems and find jobs that fit their skills.
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