SIOUX CITY, Iowa (KCAU) — More than half of retired seniors are running out of money and having a hard time financially, according to a study from Retirement Living.
Inflation and heavy reliance on social security are leading to more and more mounting debt for older Americans, many of whom struggle to stay retired.
According to the study, 22% of those over 60 say they had to go back to work, and 18% say they don’t think they will ever be able to fully retire.
The research also shows that almost half of people over the age of 60 who aren’t working are considering getting a job.
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KCAU 9 reached out to our local organizations that assist Siouxland seniors, and they agree that the national trend is hitting seniors right here in the tri-state region.
“We always ask about their resources because then we can refer them on, like if they qualify for Medicaid or if they qualify for different programs, like through Medicaid. Or if they qualify for Medicaid or LIHEAP for their utilities at housing,” said Pam Wurster with Connections Area Agency on Aging. “So, we try to give them the most resources that they can use to help them with their funding.”
Connections serves seniors in 20 counties throughout Siouxland, and people who’d like to find out more about how the organization can help can call 1-800-432-9209 or visit the Connections Area Agency on Aging website.
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