The new reality of old age in America, By Mary Jordan and Kevin Sullivan, September 30, 2017, Washington Post: “Richard Dever had swabbed the campground shower stalls and emptied 20 garbage cans, and now he climbed slowly onto a John Deere mower to cut a couple acres of grass. ‘I’m going to work until I die, if I can, because I need the money,’ said Dever, 74, who drove 1,400 miles to this Maine campground from his home in Indiana to take a temporary job that pays $10 an hour. Dever shifted gently in the tractor seat, a rubber cushion carefully positioned to ease the bursitis in his hip — a snapshot of the new reality of old age in America. People are living longer, more expensive lives, often without much of a safety net. As a result, record numbers of Americans older than 65 are working — now nearly 1 in 5. That proportion has risen steadily over the past decade, and at a far faster rate than any other age group. Today, 9 million senior citizens work, compared with 4 million in 2000…”
Tag: Financial security
Retirement Savings for Low-Income Workers
Trump Administration ends low-income retirement savings plan, By Paul Davidson, July 28, 2017, USA Today: “The Trump Administration said Friday it’s shutting down an Obama-era program aimed at encouraging low- and moderate-income households to save for retirement because the scant participation didn’t justify the cost…”
Financial Stress Among Native Americans
Study shows high levels of financial distress among Native Americans, By David Erickson, May 2, 2017, Missoulian: “The use of high-cost borrowing methods such as payday loans and a lack of retirement and college savings plans may be keeping many in Montana’s Native American population in an endless cycle of poverty. There are more than 62,000 Native Americans in Montana, making up 6.6 percent of the state’s population, and a new national study has found that they are more likely to have high levels of financial distress compared to other demographic groups…”