Aging Women Express Severe Disappointment Over Financial State

POSTED: 2:50 pm CDT October 11, 2006

CHICAGO -- "It's not the retirement I pictured."

Doreen Styles is disappointed. She didn't expect to live out her retirement years working retail in Colorado Springs.

A divorced woman in her 60s, Styles is part of a growing group of aging baby boomers who say their savings isn't enough, and the years spent raising children and not working put a big gap in their Social Security.


"Most of my friends plan on working until we're at least 70," said Styles. "It's just not there."

Since 1980, the number of working women over 65 has increased 38 percent, while the number of men working has stated the same.

"Boomer women who are turning 60 are not prepared," said Cindy Hounsell, who works for the Women's Institution For A Secure Retirement. "It's never too late. You know what your expenses are. Sit down and make your own little plan."

The average man's pension is $7,000, while a woman's is less than half that at $2,600.

Karen Christian is another 60-something who is feeling the financial burn.

"I lost my house and went into bankruptcy," she said. "It's not a pleasant thing to admit you cant maintain yourself financially."

Christian made a budget, got a job in a restaurant, and now pays her bills -- but for many women, the idea of a carefree retirement is still a fantasy out of reach.



um um um

Traggic!

That's terrible.

Yet another reason not to have kids.

Poverty line What a terrible way to live out the golden years.

evenstar3 said:

Seriously.

Our glorious Leaders have been waffling on about putting up the Retirement age to 70 here in the UK.....Basically unless you got a nice fat private pension you gonna be working til' your'e ready to pop your clogs.....

there's a book that i would recommend reading (i have it on audio c.d.)

it's called Bait And Switch: The (futile) Pursuit Of The American Dream

by Barbara Ehrenreich.

IrresistibleB1tch said:

yup. its booming. especially here in michigan... yup, booming.

Come to my mighty glorious nation, retirement good.....padded cages

YShouldIDoThatWhenICanDoT said:

I read her 'Nickel and Dimed'. I should check this one out!

CarrieMpls said:

Hi Carrie! it's a follow- up. however this time time she talks about the white-collar people who do everything right and still find that they can't get hired.going to job fairs, revamping resumes,etc...i love it.

evenstar3 said:

Or to immigrate and unleash your spawn elsewhere.

Spookymuffin said:

Yeah, but even in another country you have to take care of the things- who'd want that?!

evenstar3 said:

Hey - if they get difficult, kill 'em, I say.

Spookymuffin said:

well, i think of it this way. if i'm impoverished when i'm elderly i'll be out there robbing banks. and if they catch me?? either way, i'll end up with a place to stay and food to eat

XxAxX said:

atta girl!

I keep thinking I'm not thinking enough about retirement. Lord knows my 401k won't be enough. Especially when I keep dreaming of cashing it all in to go travel the world for a year or something.

Number23 said:

CarrieMpls said:

maybe a nice insurance scam would work. much nicer than robbing banks, and safer too.

Spookymuffin said:

I'm drunk, Ben. I think I'm a far left fascist, Ben. I think I know a better way, Ben. I wish I had more energy to write, Ben. I wish people I care about on this site knew what I'm really capible of, Ben. Does that make me a sad bastard, Ben? I'm going to Blackpool tomorrow, ben. Did you know you share a name with the guy who got the girl in It, Ben? The fat guy turned gorge? I wasn't convinced by the actor who played him in the Tv movie, Ben, but Tim Curry was fantastic. I empathised with the demon. Ben.

Number23 said:

Come to fucking London, Billy. Or Windsor, Billy.
Call me on my Birthday, Billy, and I shall reciprocate, Billy.
Show me what you're capable of, Billy. You clearly have a Brain, Billy.
Adopt me, Billy.

Spookymuffin said: