Some of the struggles facing baby boomers today that are living on a fixed income.
RISING HEALTHCARE COSTS
Rx drugs
Medical services
Increasing premiums
All consume a significant portion of our income
LIMITED SAVINGS. Many baby boomers didn't have access to retirement plans during their working years, leaving us with limited savings to rely on.
FIXED S.S. BENEFITS...these benefits are not keeping pace with inflation or increasing healthcare costs making it hard to maintain their standard of living.
HIGH HOUSING EXPENSES... Rent/mortgage payments and property maintaince costs can be substantial especially if they are living in a high cost area.
DEBT... Baby homer may still be paying a mortgage off or credit card debt or loans that put a strain on our budgets
UNEXPECTED EXPENSES... Emergency home repairs or medical bills not covered by insurance can quickly deplete our savings.
LIMITED JOB OPPORTUNITIES ...age discrimination can make it challenging for baby boomers to find employment or earn additional income navigating these challenges require careful budgeting accessing community services resources and sometimes making tough financial decisions.
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