As inflation continues to spike and the impact of the pandemic on the economy continues, some retirees are finding their “golden years” might not have enough “gold.” As a result, financial pressures are forcing many to rejoin the workforce, according to NBC News.
The financial pinch is especially tough for seniors relying on Social Security and their savings alone. Observers are finding that low-income retirees have no choice but to go back to work.
Higher rent, climbing food prices, health issues, and longer longevity all affect how seniors face their future. In 2021, rent has increased 11.4 percent while food prices have shot up 30 percent.
The money gap has started to affect even those who’ve been retired for some time.
Council of Seniors Knows Better Benefits Can Ease Money Worries
Extra income will help retirees face uncertain futures. That’s why Council of Seniors works tirelessly to get Congress to pass The SAVE Benefits Act. Insufficient Social Security cost of living adjustments (COLAs) in recent years has created a needless income gap. If this bill passes, $581 will be returned to eligible seniors.
Signing our petition right away will help us show Congress the importance of this issue.
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