Can you imagine working your whole life, saving for retirement and when the time comes when you can no longer work and reach the age of retirement, your life savings is not what you thought it was going to be.In fact its not even close to what was projected because of the cost of living increases and the downturn of the economy. Many retirees are having to come out of retirement to take on a part time job. Some people laugh but these really are the folks who are greeting people at Wal-Mart. It’s sad to see elderly have to come back to work or not even retire and work far into their seventies because they lack the funds to cover their expenses without working.
Today, very few people look forward to retirement. No more constant vacations and sitting on a beach with the woman you married 50 years ago. Yes, there are some breaks for senior citizens, have you been to IHOP lately, the whole back page is full of $2-$4 meals for individuals 55 and over. But when it comes to putting gas in your vehicle and keeping your house warm, there is no discount for electricity.
Do not assume that Senior Citizens live Debt Free. Wow, do not make that mistake. That RV is not paid for my friend, not only that but the RV is one of the hardest vehicles to sell. Some couple are having to live in their RV because cost of living in a home is too high.
The truth is that senior citizens are having to work far into their retirement so they can continue to make ends meet. No, they are not getting paid more than others because of their experience they are actually getting paid the average salary and many feel that they are a liability to their organizations because of the high medical costs that are at risk from having them as employees.
Please encourage your parents to continue saving for retirement. Show them how to pay off all their debts so they can retire with dignity.
I noticed your comment about RVs being a tough vehicle to sell. I run rvSearch.com, an online RV classifieds website. We have experienced a slow down in sales for higher end models since the economic downturn. I believe it is primarily because it is hard to get financing on a new RV today. So a lot of people have turned to buying used models instead. I think that this is encouraging people to buy within their means, and I am glad about that. It is a lot more enjoyable of a lifestyle if you have the cashflow to actually enjoy it without a great deal of worry. And if you’re going to live in your RV, do it because you want to, not because you can’t afford any thing else. We always encourage people to buy RVs within their means. There is a whole lot of GREAT RVs to fit every lifestyle out there, at lower price points! Thanks for the tip!
Genevieve, RV Search.
Many senior citizens have seen their retirement savings drop considerably. People I know who have retired are considering returing to work and those who are still working will do so for a couple more years at least.
Recently I started using http://www.seniorsdiscounts.co.uk. They provide discounts for us oldies and some good money saving advice.