We Asked Women 50+ What Worries Them. High Prices, Health Care and Social Security Top the List

To contend with rising prices, women are adapting in big and small ways, such as replacing Netflix with flicks from the library. When asked about tariffs, many participants, regardless of political affiliation, expressed concern about how they would impact their daily financial situation.  One Republican questioned whether tariffs were an excuse to pass on higher prices to the consumer.

Peter Arkle

Troubled by health care quality and cost

Many women lamented the state of health care in America. One 53-year-old Republican woman said that she is uninsured and saw finding a job as the only solution to getting health insurance. Participants from both sides of the aisle worried about those who could not access health care or who would suffer from cuts to Medicaid. Some felt that younger doctors dismissed the concerns of older women; others flagged long waits to see a specialist. 

“It shouldn’t have to be this complicated,” said Lisa C., a 62-year-old woman from Texas in one of the Republican-leaning focus groups.

Some women said they feel the stress even with health insurance. Karen M., a 55-year-old Democrat from Ohio, said both she and her husband have a high-deductible plan. They have had to dig into savings to cover health care expenses that cropped up for them and their daughter, and she said she fears the pattern will continue. 

“Eventually, that bucket is going to be empty,” she said. 

Meanwhile, Medicaid has been a lifeline for Veronica B., a 69-year-old Democrat from Georgia. She is eligible for both Medicare and Medicaid. Generally speaking, Medicare pays covered expenses for “dually eligible” older adults before Medicaid fills in the gaps to cover deductibles, copayments, Part D premiums and other expenses such as nursing home care.

“My providers are wonderful, and they listen to me,” she told the other women in her group. “I can’t even imagine having a copay like you ladies have. It would really hurt me financially.” 

Finding balance as a caregiver

Several women said they wished others understood the toll that caregiving takes. Although they said they treasured time with aging parents, participants discussed the pain of putting their own dreams on hold and the burnout that comes with spreading themselves thin.

“I wish people knew the amount of money it takes to make sure bills are paid and they aren’t drinking dishwashing liquid, or putting a house in a trust so the government can’t take it,” said Jennifer M., a 64-year-old Republican from Georgia, whose mother had Alzheimer’s. 

Participants in the focus groups were thinking deeply about their own futures, although few said they had nailed down concrete plans with loved ones. But for Nina P., the topic was top of mind. The 56-year-old Democrat from Pennsylvania is a self-described “older mom,” with kids ages 12 and 16. Her own mother has Alzheimer’s and lives in a nursing home. 

When talking about aging with her own kids, “I say, ‘Don’t hesitate, put me in a good place and come visit me,’” she said. “I don’t want them to worry or feel guilt like I have.”

Many participants felt that daughters were more equipped for caregiving than sons; some without daughters wondered what that meant for their future needs. Others are contemplating long-term care policies or retirement facilities. 

Sharron C. said she is grateful she only has to worry about feeding herself, especially as she deals with a job loss. 

“I don’t know what I would do if I had small kids or someone other than myself to take care of,” she said. 

Factoring uncertainty about Social Security into retirement plans

For many women, retirement is a math problem that is not adding up.

Clara F., a 65-year-old Democrat from New York, lost half the value of her 401(k) in 2008 and another 30 percent during the pandemic. 

“I’m afraid I’m not going to have money to get to 70,” she said.

Most of the younger women polled are still working, while some in the 65 and older cohort continue to work as well. Amy M., a 70-year-old Republican from Missouri, loves her part-time job at a manufacturing company, where she has spent 35 years. But she also sees no alternative if she wants a cushion for emergencies, to travel and to buy presents for her grandkids and great grandkids. 

“My doctor said, ‘Amy, you need to retire,’” she said. “And I just can’t.”

Some have the safety net of a pension or a plan to increase their savings. One woman described having a fantasy retirement date and a more realistic target date. Another feels financially secure with the nest egg she and her husband accumulated, but notes they spend little on themselves as a result. Others, like Antoinette A., find it hard to prepare at all. 

“Retirement has never feasibly crossed my mind,” she said. “I’m not planning. I’m just living.”

Women across the political spectrum said they fear Social Security will not pay out at the rates that were promised. Even at current levels, some say it’s barely enough to cover their bills. 

Still others found contentment in retirement when they least expected it.

Lisa C., from Texas, shared in her group that her husband was killed by a drunk driver 10 years ago. “At the time you think your life is over,” she said. She credited her friends and family with helping her bounce back, and her ability to stretch a dollar as the reason she was able to retire early. 

“I can focus on all the bad things that have happened, but I have my health and good friends,” she said. “That’s what you need.”