Filling the Gaps

A retired couple in their mid-70s, with a small nest egg set aside and a modest pension, depends primarily on Social Security to make ends meet. A chronic debilitating illness strikes, with costs far exceeding Medicare coverage. Almost overnight, their hard-earned financial security has disappeared. They wonder: Will we have to sell the house? And leave the friends and neighbors of so many years? Can anyone help?

A recently-divorced woman, college-educated and with three children, needs to find a job after 20 years outside the workforce. Not just any job, but one that pays well enough so she can pay bills and put a little aside for the kids’ education. She asks herself: Where do I begin? What kinds of jobs are available? Do I have the skills?

Responsible for raising her two grandchildren, a grandparent knows her love is boundless but her fixed income, energy and resources are strained. So much has changed since she raised her own children. It’s taken some time to figure out the basics—schools, clothing, doctors and then there is the Internet. She wonders: Are there others in this situation? Where can I find advice to help me do the best job possible for my grandkids? Are there programs that offer financial support for my grandchildren? Whom should I ask?

After 40 years in their family home, a couple realizes that they need more income to make ends meet. They saw an offer on television for a financial program that helps people use the money in their house to meet expenses and even have some left over to make needed repairs. How could they know that they were taking the first step to losing everything they had worked for? Why is it legal for companies to prey upon citizens? Who is out there protecting the rights of those just trying to get by?

There are millions of 50+ adults under economic duress trying to cope with such life situations. Without financial security nothing is easy. Yet, every year, resources and programs available to help are left untapped because there is no one to make the connection.

That’s why the AARP Foundation is here.