Read this today and got mad [at the politicians in charge] and sad [as it will get worse when winter arrives.]
These are tough economic times for people of all ages, but few are affected more than senior citizens living on pensions and Social Security, and juggling medical bills, credit card payments and mortgages along with soaring food and gas costs.
Americans age 55 or older experienced the sharpest rise in bankruptcy filings during the 16-year period between 1991 and 2007, according to a report released by AARP, "Generations of Struggle." The rate of personal bankruptcy filings among those ages 65 or older grew by 125 percent, while the bankruptcy rate of seniors ages 75 to 84 jumped a stunning 433.3 percent.
"It's frightening. It's a horror story in the making. It will not get better. It will continue to get worse," said Thomas Mackell., chairman of the board of directors of the Federal Reserve Bank of Richmond and author of "When the Good Pensions Go Away." "We are facing a generation of boomers where 55 percent of them are ill-prepared economically to retire."
Home values are down, hard now to get refinancing, the company you worked for forever decides to stop paying pensions and heath care, etc. Your IRA is worthless with the market downturn and gas costs over $4 a gallon.
I don't usually post a personal business plan here - but now I am going to do just that - so if you don't want to read a "commercial" stop now : -)
If you do want to learn how to have at least an extra 3 to 6 thousand dollars in income 12 months from now, please get in touch with me: 503-477-5550. I'm part of a business group that has a structured, supportive team work approach to the business. I won't go into details here as that's not the gist of this blog - but for those who want or need that extra money - which will keep coming in even if you stop working this program - please contact me. If you have friends you'd like to partner with and all make this money - it's a great program for sharing - as we say in psychology - it's a win-win. Oh - you need only work between 6 to 10 hours a week...