As of today, I have a total of $500 (or less) across my checking, second checking and savings accounts. I receive $2,000 a month in Social Security and live in a two-bedroom apartment with a roommate who is receiving disability benefits. In the wake of the midterm elections, how many people in this country are living in poverty or just barely above the poverty line?
I would venture to guess that they far outnumber those who have managed to accumulate $100,000 in retirement savings. And yet, we hear so much anxiety, frustration and complaining from those who have managed to save that amount of money. I understand that everyone has financial concerns, and I don’t mean to minimize their worries.
The rise (and risks) of Buy Now Pay Later Play video: The rise (and risks) of Buy Now Pay Later > ‘I wonder whether wealthier Americans should trade places with people like me.’ But sometimes I wonder whether wealthier Americans should trade places with people like me — people like us — even for a little while, to understand what financial insecurity really looks like. Let me use my own circumstances as an example. Don’t Short Yourself offers weekly money tips to help you earn it, stack it and grow it.
I would like to receive updates and special offers from Dow Jones and affiliates. I can unsubscribe at any time. I am a nurse, although I am not working at the moment because I earned “too much” last year and am concerned about how that might affect my Social Security benefits.
Although I am looking forward to turning 67, I also find myself worrying about the future. What happens when I am no longer physically able to work as a nurse? The frightening truth is that I have no clear idea where I will go or what I will do when I can no longer care for myself.
I have no financial safety net, no substantial savings and no real financial cushion. **Don’t miss:**‘I experienced many years of poverty’: I worked until 70. Why do wealthy retirees look down on those with less savings? And that brings me to my larger question: Where is the conversation about people like me?
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