Additional Coverage:
Pamela Shields, 67, is among many older Americans who have returned to work after retiring because their Social Security income is insufficient. She works two part-time jobs, caring for neighbors and working at a grocery store, to supplement her $1,470 monthly Social Security payments.
Despite her hard work, Shields often struggles to make ends meet. She worries about paying for housing, utilities, and healthcare costs. She also helps support her family, including providing financial assistance to her children and grandson.
Shields’ experience reflects a growing retirement crisis in America. Many baby boomers rely heavily on Social Security, but it often doesn’t cover essential expenses. As a result, an increasing number of older Americans are returning to the workforce.
Experts advise younger generations to learn about finances early and save diligently for retirement. Unexpected expenses and life events can deplete retirement savings, leaving people vulnerable in their later years.