Financial Lives Episode 5: When Retirement Won’t Work
Once upon a time, retirement meant a paid-off house, a solid financial cushion, and time to relax. This episode explores how older adults approaching retirement today often find themselves unprepared financially and worried about what their future will actually look like. As for those who have already retired, the reality is often starkly different from the retirement they once imagined.
Explore the financial challenges of older adults who reach retirement without sufficient income or savings to enjoy the golden years they envisioned.
Episode Participants
Kathie A, 65
Blockton, IA
For Kathie, there is nothing better than living in rural Iowa and seeing deer run across the lawn of the home she shares with her husband. Money is tight but she prides herself on careful budgeting and prioritizing savings for upcoming expenses.
Paul D, 66
Kellerton, IA
When the appliance manufacturing plant he worked at for 20 years closed, Paul decided to make farming his full-time job. Now at 66, the daily 5am wake up calls and recent injuries have made retirement an idea he can no longer ignore.
Larry N, 73
Las Vegas, NV
Larry, a former bartender in the hotel industry, has had to come to terms with retirement and the loss of a steady income due to liver disease. He and his wife, Koren, are attempting to make the best of their golden years by enjoying their retirement community and relying on the kindness of neighbors.
Cathy W, 64
Wheeling, IL
For Cathy, retirement looks far different than the one she imagined. The mother of five adult children lives with her 26-year-old daughter and 7-year-old grandson. Most mornings and afternoons, Cathy takes care of her grandson before leaving for her own job as a caregiver five nights a week.
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Explore the Financial Lives After 50 series
