The Social Security program is meant to help people during their retirement years, but many Americans are finding that their Social Security checks are not enough to cover their expenses. This is the case for Pamela Shields from Fort Worth, Texas, who had to come out of retirement and work multiple jobs to make ends meet.
Pamela had planned to retire at 67, but due to a car accident that ended her career early, she had to retire at 59. Her $1,470 monthly Social Security checks were not sufficient to cover her bills, especially after medical expenses quickly depleted her 401(k) funds. In order to support herself and her family, she had to work night shifts at a local grocery store and help her older neighbors during the day, working seven days a week.
Despite the physical pain she experiences from her injury, Pamela continues to work to pay her bills and support her family. As a single mother of three adult children, she still provides financial support to one of her daughters who lives with her due to health issues. In addition to covering her own bills, she also helps with grocery expenses for her other children whenever she can.
The trend of Americans coming out of retirement has been increasing, with 13% of baby boomers on LinkedIn unretiring in 2023, according to LinkedIn’s Economic Graph team. Pamela’s story serves as a reminder of the importance of financial planning and saving from an early age to prepare for unexpected events like medical emergencies or divorces.
While Pamela wishes she could retire and not have to work multiple jobs, she has accepted her current situation and is doing the best she can to make ends meet. She encourages others to learn about budgeting and savings early on to have better control over their finances and be prepared for any challenges that may come their way. Despite the difficulties she faces, Pamela remains resilient and determined to support herself and her family.
