Boomer Challenges: Coping with Economic Strain Amid Health Issues

Tuesday, 27 August 2024, 23:00

Boomer Wendy Jones, battling cancer, faces financial difficulties while receiving Social Security. Her story highlights the struggles of older Americans in today's economy. Many boomers are increasingly reliant on limited incomes as medical costs soar.

Business Insider — Boomer Challenges: Coping with Economic Strain Amid Health Issues

Boomer Financial Struggles Amid Health Challenges

Wendy Jones, 71, has been her husband Roy's caregiver for the last three decades — even after her brain tumor diagnosis.

But the Palm Beach County couple are running low on cash and are worried about how they'll put food on the table.

Facing Economic Hardships

Jones, a former paralegal, stopped working after her mid-2000s diagnosis.
Her husband was permanently disabled in a workplace accident in 1992.
Despite receiving Social Security payments, their savings have diminished due to skyrocketing medical expenses.

Jones is not alone; millions of boomers are struggling with health issues and financial constraints. Many must continue working to supplement their income despite facing limitations due to their medical conditions.

Living on the Edge

Jones and her husband now buy only frozen foods to save costs.
They have even taken a reverse mortgage loan.
She fears that one more medical emergency could push them into financial ruin.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.