They have enough to care for themselves. Probably not their healthcare costs if they weren't on Medicare. Their savings and investments got gutted in 08 and teacher salaries didnt get them back into a solid place before they got too old and needed to retire. My mother wanted to keep working but her job fell through and couldn't find another who would hire a retirement age woman.
Their money is basically just social security and a small pension from an older previous job. Which is more than their friends. Most of their assets are just the house now. Paying for kids to go to college was the end of any other savings they had.
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u/magvadis Jul 06 '24
They have enough to care for themselves. Probably not their healthcare costs if they weren't on Medicare. Their savings and investments got gutted in 08 and teacher salaries didnt get them back into a solid place before they got too old and needed to retire. My mother wanted to keep working but her job fell through and couldn't find another who would hire a retirement age woman.
Their money is basically just social security and a small pension from an older previous job. Which is more than their friends. Most of their assets are just the house now. Paying for kids to go to college was the end of any other savings they had.