Working to Make Ends Meet
Carolyne Martin, a 74-year-old widow from Milton Keynes, has found herself scouring job websites and applying for part-time and temporary positions. Despite her thrifty spending, her £211 a week State Pension falls short each month, leaving her with no choice but to go back to work to pay the bills.
A Growing Trend
Carolyne is just one of nearly 900,000 Britons aged over 70 who have returned to work or stayed longer in part- or full-time jobs since the pandemic and the rising cost of living crisis. The Office of National Statistics reports that there are now more people aged 50 and older in work or looking for work than before the pandemic.
Feeling Poorer Than Ever
Carolyne and her friends who have also been forced back to work, describe feeling poorer than ever before. The rising cost of living has made retirement for those on fixed incomes seemingly impossible. Carolyne fears that if price hikes continue, she may never be able to stop working.
From Homeowner to Renter
After the death of her husband, Carolyne had to sell their home and downsize due to financial constraints. She now finds herself back in the rental market at the age of 74, sharing a house with her son and his children. The monthly costs of rent, bills, and living expenses leave her unable to sleep some nights as she worries about her financial future.
Stretching Every Penny
Every month, Carolyne has to carefully budget and save in order to make ends meet. She shops at discounted supermarkets, buys second-hand clothes, and even gets her cosmetics from charity shops. Despite her efforts, her monthly pension of £914 is not enough to cover her expenses, leaving her at least £300 short each month.
Working and Staying Positive
Carolyne has actively pursued various part-time job opportunities, focusing on roles where she can use her experience in sales and credit control. While she acknowledges that this is not how she planned to spend her seventies, she remains positive and determined to work as long as she can to support herself. She finds the social aspect of working to be just as important as the financial aspect.
Carolyne's story is a reflection of the reality for many pensioners in Britain today. The rising cost of living and financial instability have forced them back into the workforce in their twilight years, shattering their dreams of a peaceful retirement.
Did you miss our previous article…
https://hellofaread.com/money/from-a-hibernating-tortoise-to-a-naughty-cat-your-pet-queries-answered/
