The Inability To Afford Retirement Forces Millions Of American To Keep Working
Recently, you may have come across viral stories of old people working – like the 89-year-old delivery man or the Walmart lady who Rrecently marked her 30th year working. While most of these stories are shared under a heartwarming pretense, the reality is anything but.
In an ideal world, people usually retire at the age of 60, whereby they get to enjoy their lives doing whatever they want. Since they receive government benefits and have savings and investments that they’ve made over the years, they can fund their new lifestyle. However, for some people, this may always be a dream that may never be fulfilled.
A Shocking Report
Reports are now suggesting that the number of people working at over the age of 75 is going to increase in the next decade, and people will be left with no choice but to work until they pass away. How else would they be able to pay their bills and put food on their table?
Meet The 75 year Old Worker
Maria Rios is a 75-year-old food prep worker at the Phoenix Sky Harbor International Airport, and she has been working there for 17 years. Rios only makes $14.50 an hour, and while her husband receives social security benefits, which come up to $400 a month – she is unable to retire and has to work to make ends meet.
During the COVID-19 Pandemic, Rios was one of the many people who were let go, and she and her husband had to rely on food stamps to get by. She even lost her health insurance and had to skip her life-saving cancer treatment for ovarian cancer. At this pace, Rios will have no choice but to work as she will not be able to live on the little amount of support and money she receives from the government.
Just like this, there are thousands of people out there who should be getting their due rest. Sadly, however, they are working extensive hours just to make ends meet, and retirement has now become a privilege that only the wealthy can afford. It is estimated that in the next decade, the number of people working in their senior years is expected to grow by 96.5%.
By 2040, the number of people over the age of 65 is going to grow to 80.8 million only in the United States of America from 54.1 million in 2019. From inflation to the global economic situation, everything has become a factor in this, and it is resulting in many people being unable to afford retirement.
Do you think that there are any solutions that the government could implement?
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