09 November, 2017

Many older Americans are living a desperate, nomadic life - MarketWatch

Many older Americans are living a desperate, nomadic life - MarketWatch: "I started doing some research and learned there was a whole spectrum of thousands of employers hiring people in similar situations — in oil fields, harvesting sugar beets and helping out at amusement parks. These are not easy jobs or the kind typically associated with people in older stages. But nobody had been looking at it in context of the retirement crisis in the wake of the Great Recession. And a lot of the recruiting materials for these jobs made them look like summer camps. Some for Amazon’s CamperForce said if you come, you’ll make friends. It felt so strange to me, so I started talking to RV’ers outside Amazon warehouses in Nevada and Kansas. Some lost their savings; some thought they would retire on the equity in their homes, but their homes dropped in value dramatically, while the cost of traditional housing kept going up. A lot of them were living hand to mouth; it was hard for them to save for tomorrow.

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