Posts Tagged ‘ financial problems senior citizens face ’

When the Nest Gets Crowded: Seniors’ Children Come Back Home

Jul 7th, 2010 | By Dr Jerry D Elrod | Category: Senior Moments Blog

One of the glaring evidences of today’s economic slide comes in the numbers of “children” who are moving back home following college. During the past several decades the shift in persons who have entered college and received their diplomas has increased, while the numbers of available jobs for persons with degrees has not kept pace. This has created a major paradigm shift in living patterns, requiring senior citizens to house their children who have graduated from college, but find themselves unable to find productive employment.

Persons at retirement often look forward to the empty nest. However, statistics show that more and more college graduates are returning to the safe haven of their parents’ home. This creates a new psychological strain on the family, who thought life would look different once it was emptied of children. Instead, some children find themselves in the paradox of being dependent on their parents, a not too encouraging state of being. Others may find some work which assists in meeting some of the increased expenses of their having moved home.



Retirees: Some Options for Managing Credit Card Debt

May 22nd, 2010 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

Senior citizens carry the fastest-growing credit card debt in the United States today.  The average balance increased 149% from 1995 to 2004 among retirees 65 and older.   That figure continues on the rise.  If you find your credit card debt worrisome, this article is for you. You can choose to go to a debt relief [...]