Boomers Find Retirement Challenging
By Ronnie Thomas, The Decatur Daily, Ala. |
He retired in February and drew his first
With that amount, the 62-year-old
"My top pay was
Getting to retirement isn't as easy as it once was, many baby boomers are finding. High energy costs drive up not only the expense of food but almost every other purchase of items people need to live comfortably.
Unlike Luke,
Those going into assisted living facilities in north
Washburn, who retired in 1994 as executive director of the
"I could see out in the future that I needed something to retire on," he said. "Decatur Iron and Steel, where I worked for 13 years, didn't have a retirement plan, but I planned one on my own. At NAIDA, we had a share plan."
"I began doing more financial planning last year, and it has really been alarming to me the people who are insufficiently prepared for their retirement years," he said.
Stretching funds
Burt is working with several clients ranging in ages from 35 to 65, attempting to find ways to stretch their funds for the rest of their lives.
"It's challenging in this market, given the low-interest environment, to find safe places for people to park their money without exposing them to undue market risks," he said.
Another potential dilemma that workers of all ages may not have accounted for is cost of long-term care.
"We're living longer and have many more people who need care in their retirement years," Burt said. "Because of either a lack of planning, a lack of understanding or a misbelief that the government is going to take care of them through entitlement programs -- which in most cases is simply not true -- very few are prepared to address it."
Some people who need assistance but are determined to remain in their homes look for other opportunities, such as a
"We spend on average between
One of those clients is <person>Sandra Ray, 74, of
"I have been on the (
Ray said she lives "very simply and very moderately" and that the (
NARCOG also offers another program -- the Senior Community Service Employment Program -- which finds jobs for seniors. Johns serves as SCSEP project coordinator.
SCSEP
Back in
"I mow the grass, do other stuff and work about 14 hours a week at minimum wage, but it helps," he said.
Luke pays
Luke lost the sight in his right eye as a 4-year-old when the top blew off an old pressure cooker and struck him in the face.
"I'm not disabled, so I never went on disability, although people told me I should," he said. "I'm too proud, I guess. I don't believe in taking anything that's not mine."
Luke said not having health insurance hasn't bothered him -- yet.
"I don't go to a doctor, and I never took pills," he said. "I've seen so many people get hooked on them. For example, for heartburn, all they have to do is drink a little pickle juice. I'm just an old country boy that figures it all out as I go along."
Luke, who spends most of his spare time with Fatman, a Yorkie-Poo, has a son and two grandchildren. He plans on his
"I'd do without something to eat before they live in what I live in," he said.
"The help (at Morningside) has always been very nice. You know, life is what you make it," she said.
Pilgrim, born and raised in
"It never closed," she said. "Builders came to me and said they would have to go elsewhere. And I believe people are shopping in
Pilgrim doesn't give much thought as to where her life goes from here.
"I'm just so happy every day," she said. "As long as I feel good and am not a burden to anybody, that's all I want."
"But some have children that live out of town, who were worried about the safety of their loved ones and having someone to socialize with," she said. "We convinced them it was time to leave home and choose assisted living."
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(c)2012 The Decatur Daily (Decatur, Ala.)
Visit The Decatur Daily (Decatur, Ala.) at www.decaturdaily.com
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Source: | McClatchy-Tribune Information Services |
Wordcount: | 1191 |
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