My Blog

Older Americans Taking Pay Cuts: From Six Figures to Minimum Wage Jobs

90th Birthday at Work: OnCue Employee Celebrates Milestone with Colleagues. Vince Scidone, a dedicated OnCue employee, marked his 90th birthday working the grill, greeted by cheering colleagues, gifts, and well-wishers. Despite a comfortable pension and Social Security income, he continues working to supplement his family's finances, highlighting the financial realities faced by many older Americans. His story underscores the challenges and perseverance of older workers seeking financial security in retirement

Ninety-year-old Vince Scidone celebrated his birthday at work with a joyous surprise: cheers, ice cream, gifts, and balloons. His colleagues jokingly warned him, "Don't go climbing any ladders now!" This heartwarming scene highlights the dedication of older American workers like Scidone, who continues to work part-time despite a comfortable retirement income, to support his family's needs

90-Year-Old Oklahoma Man Celebrates Birthday at Work: OnCue Customers Amazed by His Youthful Vigor. Vince Scidone, working his grab-and-go bar at an OnCue convenience store near Oklahoma City, received birthday wishes from customers who were stunned by his energy. After golfing and mowing his lawn earlier that week, he readily agreed he didn't look a day over 70

At 90, Vince Scidone still works part-time, preparing delicious pizzas, quesadillas, and tacos at an OnCue convenience store near Oklahoma City. Despite a previous career in carpentry and a comfortable retirement income, he supplements his Social Security and pension by working 20 hours a week to help cover his and his wife's living expenses. This inspiring story highlights the financial realities faced by many older Americans

Despite receiving $104,000 annually from Social Security and a pension, this 90-year-old's high monthly expenses—including $2,500 for car payments, nearly $2,700 in mortgage payments, $1,400 in church tithes, and utilities—leave him with less than $100 in savings

At 90, Vince Scidone still works, supplementing his Social Security and pension to achieve his retirement dream: a trip to visit his children and grandchildren. While he'd love to provide more financial support to his family, his current income from his part-time job helps cover living expenses, including mortgage, car payments, and church tithes. His story highlights the financial realities faced by many older Americans who continue working despite limited high-paying job opportunities

Older Americans Working Longer: Facing Limited Job Options and Low Pay. A Business Insider analysis of Census Bureau data reveals that many Americans over 80 are forced into low-wage jobs like cashier, retail, and administrative roles. While their median income is $57,000, slightly exceeding the national average of $45,000, many struggle to meet expenses and achieve financial security in retirement

Business Insider reveals: Over 140 workers aged 80+ interviewed; dozens earn under $20/hour. Despite wages exceeding the stagnant $7.25 federal minimum wage (unchanged since 2009), inflation's 50%+ surge impacts older workers' income significantly. Learn how rising costs affect this demographic's financial stability

Working Past 80: Inspiring Stories & Financial Insights from America's Oldest Workers. Share Your Story! Business Insider's "80 Over 80" series features interviews with Americans working beyond 80, revealing their career journeys, retirement planning challenges, healthcare experiences, and life lessons. Are you 80+ and still working? Contribute to our series and share your insights! [link to form] [link to article]

Many older Americans, including veterans and former white-collar or high-paying blue-collar workers, are finding themselves in lower-paying jobs later in life. Facing health issues, layoffs, or simply needing supplemental income, these individuals—often in their 80s—work as grocery cashiers, retail salespeople, or in similar roles. While some maintain higher-paying positions, for many, any job is better than unemployment, highlighting the financial realities faced by older workers in the US

While some older workers earn slightly above the federal minimum wage ($7.25-$17.95), their motivation often extends beyond the paycheck. For many, the income supplements retirement funds, enabling discretionary spending or gifting to loved ones

Ageism in the workplace: Leanne Clark-Shirley, CEO of the American Society on Aging, highlights the significant barriers older workers face finding jobs beyond low-paying retail or clerical roles. As the workforce ages and individuals maintain healthy lifestyles longer, employers must actively combat age discrimination in hiring and embrace the value of experienced, older talent

Age Discrimination in the Workplace: Why Older Workers Deserve Fair Treatment. Experts highlight the unfair treatment of older workers, pointing out the arbitrary shift in perception and opportunities that often occurs after age 65. This ageist bias overlooks individual skills and experience, leading many to accept lower-paying jobs despite decades of valuable contributions

Senior citizens working retail: Fact or fiction? A 2023 Census Bureau analysis reveals nearly 17,000 Americans aged 80+ work as retail salespeople, and over 8,300 are cashiers. This challenges the stereotype, highlighting the significant number of older adults contributing to the US workforce in roles like Walmart greeters

Retail jobs often offer wages slightly above minimum wage. While the average hourly pay for retail workers (excluding managers) is $21.65, reaching $31.34 for all non-managerial positions according to the Bureau of Labor Statistics, many older workers, some in their 80s and 90s, find the physical demands challenging and the pay insufficient for long-term financial sustainability

88-Year-Old John Fahy Starts His Day Serving Customers at a Washington Home Depot, Embracing a Long Career in Customer Service

Despite earning $23 an hour—$7 above his state's minimum wage—Fahy's income falls significantly short of his previous engineering salary. Supplementing his small US and UK pensions and IRA contributions, this job is crucial to making ends meet

After his wife's passing last year following 59 years of marriage, and facing increased financial pressures following her illness, Fahy maintains good health despite occasional physical strain from lifting heavy objects

Working provides vital social interaction and purpose, connecting me with others facing similar challenges," says Fahy. "Retirement isn't on the horizon; I'm looking forward to seeing my granddaughter graduate college in a few years

84-Year-Old Supplements Social Security Income: Sharon Albrecht's Inspiring Story of Gig Work and Healthcare

Facing insufficient retirement income despite five-figure investments, 84-year-old Sharon Albrecht sought additional income to supplement her Social Security benefits. Aiming for a monthly income of $1,500-$2,000, she leveraged her experience – including earning over $100,000 in 2009 – to find supplemental employment. This involved driving for Uber and securing a position at a home healthcare agency, demonstrating her determination to maintain financial stability in retirement

Albrecht supplements her income with part-time driving, earning around $20 per hour during the day and on weekends (before expenses). She limits shifts to 3-4 hours to manage back arthritis. With a spotless driving record (4+ years), she prioritizes safe driving conditions, reflecting responsible choices for her age

At 84, Albrecht embraces life's journey, finding no regrets and focusing on the present. He's just getting started and doesn't worry about the future, demonstrating a fulfilling, age-defying perspective on life and work

Despite receiving Social Security and pensions, many Americans over 80 work physically demanding jobs to make ends meet. Over 15,000 are truck drivers and salespeople (the fourth largest occupation for this age group), over 11,500 are janitors and cleaners, 10,000 work in farming and agriculture, and over 3,000 are cooks or construction laborers. These older workers often take on low-paying roles like cashiers and retail positions to supplement their income

Older Americans face health risks from working past retirement age, but financial pressures often leave them with little choice. Many seniors, like 90-year-old Vince Scidone, continue working low-paying jobs despite health concerns, highlighting the struggles of older adults to make ends meet. This reveals a critical need for better financial security in later life

Kenn Hildebrand, 89, estimates his monthly salary is about what he earned in a week in the 1970s — and, of course, it buys a lot less these days. He lives paycheck to paycheck, delivering auto parts for nine hours a day, three days a week; conducting Census Bureau surveys three days a week; and selling final expense life insurance.

Hildebrand considered himself well-compensated for much of his career. Working in sales and paid on commission, he said he wasn’t always responsible with his spending; he would earn $1 and spend $2. A divorce 30 years ago cost him his assets, and he struggled to recover financially, he said.

Now, finding stable work has been a struggle; jobs aren’t abundant in rural Michigan. Social Security picks up the slack on his bills, including his mortgage, but he wishes he could have a more stable financial future and a better salary. He thanks powerful hearing aids, bifocal glasses, and full dentures for his ability to keep working.

“As Ella Fitzgerald said, I’ve been rich and I’ve been poor. Rich is better,” Hildebrand said. “Life takes twists and turns, and though I’m able to work, and am grateful that I can, I don’t have the energy for the 80-hour-plus weeks that enabled me to enjoy an upscale lifestyle.”

Many workers in their 80s told BI they are grateful to have a job that treats them well, and experts said they’ve noticed companies becoming more conscious about hiring older workers.

Ignacio Salazar, president and CEO of SER Jobs for Progress National, a network of training providers and employers, said training programs for lower-income adults, like the Senior Community Service Employment Program, whose federal funding was paused in July, are critical to enhancing and refining older workers’ job skills.

SER offers computer boot camps and certification programs to get older workers up to speed, and Salazar said many SCSEP recipients work for nonprofits that fit their needs. Though some earn lower wages after their training, some make upward of $80,000 in tech roles.

“If you’re in your 80s and you’ve been disconnected from a lot of things in life, like evolving technology, this is a pretty rude awakening for you, and you’ve got to go through a whole series of events to get to a point where you can be employed,” said Salazar.

Still, all four dozen aging and retirement experts Business Insider spoke with agree that more funding and attention need to be devoted to hiring older workers and compensating them fairly.

“Employers say that older workers are some of the most reliable workers they have because this is their sense of purpose,” Salazar said. “They’re not wealthy enough just to be grandparents and have that as their identity. This is their identity.”

Patricia Wheatley, 82, agrees that holding down a job at her friend’s boat shop has been key to her refreshed career. The former music teacher in Pennsylvania took years off to raise kids and care for her mother. Her income peaked in 2014 at around $45,000. Now, she answers phones, does notary work, and keeps the store tidy to supplement her Social Security.

Wheatley earns $16 an hour, which helps her pay her bills and give gifts to her 26 grandchildren and 11 great-grandchildren. She hasn’t worried much about how her finances may look down the road.

“Between what I get from Social Security, my retirement check, and work income, it makes it easy to keep things balanced,” Wheatley said. “By the world’s standards, I am far from a success story, though my life is comfortable and I have peace.”

Source: Original Article

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts