Low-Wage Workers Unable to Retire
finances·@mxu111·
0.000 HBDLow-Wage Workers Unable to Retire
<html> <p><a href="http://www.cnn.com/2016/09/12/us/popsicle-seller-chicago-fidencio-sanchez/">Fidencio Sanchez</a> got lucky. He has been selling frozen goods from a freezer cart by foot for decades in Chicago's Little Village. At age 89 now, the weight of his years makes walking increasingly difficult. A compassionate customer paid Sanchez $50 for some treats and started a GoFundMe page, seeking $3K for the old man. He raised over $380K+. </p> <p>https://storage.googleapis.com/afs-prod/media/media:445fed4e550b4b92a479a863a0563587/800.jpeg</p> <p>For workers making a barely livable wage, retirement is elusive. <a href="https://www.apnews.com/f3cd4a23739448a39a4a518e34b7cb8e/For-somfee-low-income-workers,-retirement-is-only-a-dream">Esther Bolanos</a> immigrated to the US with her family to escape the violence in Mexico. She gave up a lucrative business in her home country to work as a domestic worker in the US. Now, 64 yrs old, she cannot even contemplate retirement. Her savings are sparse and her undocumented status makes her unable to collect SSA. </p> <p>What does it mean for our society if we need <a href="https://www.gofundme.com/medical-fundraising?page=1">crowdfunding</a> to help hard-working seniors retire or obtain life-saving medical treatment?</p> <p>This issue encourages me to put my own life in perspective. Since I can't afford a house due to exorbitant realty costs, I'll have no leverage in my old age and end up living in a trailer. My cash savings will lose value due to inflation and an unstable market. At one point, mental and physical deterioration would render me unable to work, so no income. Social security would still be a pittance. No spouse, no kids so I'll have a bunch of cats. Because I won't be able to feed them, they'll end up eating my face. That's how they'll find me. Dead in a trailer, eaten by cats.</p> <p>Sources: </p> <p>https://www.apnews.com/f3cd4a23739448a39a4a518e34b7cb8e/For-somfee-low-income-workers,-retirement-is-only-a-dream</p> <p>http://www.cnn.com/2016/09/12/us/popsicle-seller-chicago-fidencio-sanchez/</p> <p>https://www.gofundme.com/medical-fundraising?page=1</p> </html>
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