We asked. You answered.
By: State: Massachusetts | Source: aarp.org
A dollar isn’t stretching very far these days. AARP wanted to get beyond the nickels and dimes—to hear from members about whether the current economy was affecting plans for retirement. We heard back loud and clear—hundreds of responses from all over the Bay State.
Some members shared that they would have to remain on the job longer, others described new approaches to car trips and grocery shopping, and many more talked about dipping into retirement savings, as well as difficulties paying for prescription drugs and other necessities for their health. Meet just a few of the many AARP members in Massachusetts who shared their stories.
Working Longer
Deborah Pelletier from Palmer is working longer because of the economy. "At almost 67, I can manage well with full pay plus Social Security," she says. "I don't think I can manage on my retirement income alone."
Staying Healthy
Roger Altieri feels lucky that he is not adversely affected by the current economic downturn. The Brockton resident and retired chef credits good health and medical coverage for keeping costs down. "My wife and I both have Medicare, and I have insurance coverage through the Commonwealth," he explains. "Luckily we have had no major health issues that cost us anything."
Making Changes
Sue Rummel runs a custom drapery business from her Danvers home, and is seeing the effect of the housing market and economy on her livelihood. "Instead of winding down at my own pace to retirement, I'm forced to look for work to supplement the little income I have and ultimately my IRA," she shares. "I have already had to liquidate one small IRA to keep my head above water."
Seeking New Opportunities
Dick Caro from Acton is working longer, and changing plans for retirement. "I had a very small 401(k) plan that is now gone. Job mobility and company failures left me without sufficient retirement income," he says. "I continue to work as an independent consultant, write books, and write magazine articles to support myself, and am now beginning a new network marketing business in an attempt to provide income."
Get in Touch
Thank you to all members who shared their stories with AARP. If you'd like to get in touch, send an email to ma@aarp.org, we’d love to hear from you. And check out our new community page to connect with other AARP members in the Bay State.
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