US Boomer 'Unretires' And Works 7 Days A Week After Struggling With $1,470 Social Security Payments

Shields retired early at 59 because of a car accident injury

Photo Courtesy of Pamela Shields — (Photo from Pamela Shields)

The Social Security program was designed to assist people in running their households in retirement. However, Social Security checks are becoming the primary income source for an increasing number of Americans as many didn't invest adequately in their 401(k)s or focus on building passive income streams during their working years. Those relying heavily on Social Security income are barely getting by as many are locked into reduced benefits for life because they claimed much earlier than planned.

The Social Security Administration estimated that claiming benefits at 62 could reduce your benefits by 30% compared to those claiming at the full retirement age, which is 67 for those born after 1960. Pamela Shields from Fort Worth, Texas, is among the many older Americans who were compelled to "unretire" and work extra gigs as her $1,470 monthly Social Security checks weren't enough to pay bills and take care of her family whenever required. Her monthly income is way below the average Social Security income of $1,787.08 for October 2024.

Working Night Shifts While Wishing For Retirement

Shields had planned to retire at 67 but did so at 59 because of a car accident that ended her long career in customer service and human resources. Although she had built a 401(k) account in her working years, she is trying to help herself and her family sustain financially after two divorces and unforeseen medical expenses. Medical and financial emergencies are the top reasons why many Americans decide to retire much earlier than planned.

When she realised her $1,470 monthly Social Security checks weren't enough as medical bills and delayed disability payments quickly depleted her 401(k) funds, Shields decided to "unretire" and work night shifts at the local grocery store while taking care of older neighbours during the daytime for seven days a week. These two part-time jobs boosted her monthly income by $600. "I really want to be retired and not have to do all this stuff to make a living," Shields recently told Business Insider. "But I don't see myself doing that."

Shields Still Supports Her Family Whenever Possible

While acknowledging how her financial stature and working situation at the age of 67 can be exhausting as she still suffers from pain from her injury, especially during her grocery store shifts, the single mom of three adult kids highlighted that it is the only way for her to pay the bills. She has been a single mom for more than a decade and supports one of her daughters, who lives with her due to health issues.

While acknowledging that Medicare covered most of her healthcare costs, monthly bills like housing and utility bills, alongside cellphone charges, stretch her monthly budget to the limit. Furthermore, she supports her other children with grocery bills whenever possible. "I try to help as much as I can," she said.

Americans Unretiring Peaked In 2023

LinkedIn's Economic Graph team estimated that 13% of baby boomers on the networking platform unretired in 2023, which marks a five-year high. While Shields doesn't know when she can retire, she urges others to learn about budgeting and savings early in life to have better control over parenting costs, medical bills, and events like divorces. "Life has dealt this hand to me," she concluded. "I'm not really happy about it, but I'm doing the best I can."

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