Fear of being a “bag lady” is the secret worry of every older woman. I’ve written and talked about this before, and the subject always gets a nod or a grimace of recognition.
No woman wants to be a burden on her children – or grow old alone, worry about money.
With our President and the Congress and the beltway commentators all determined to cut Social Security, we can expect the situation to get worse, probably much worse as what’s left of the safety net is dismantled.
Read a little more –
*Women are likely to have a longer period of chronic disability and are more likely to need care in a long-term facility or from a paid caregiver. This is compounded by the fact that women are more likely to be alone in old age and less likely to have a family caregiver.
*Fifty-five percent of female retirees and 71 percent of female pre-retirees are concerned that they might not have enough money to pay for health care costs in retirement, compared to 42 percent of male retirees and 63 percent of male pre-retirees.
People, real people, not financial funds, not mortgage foreclosures companies, are supposed be looked after by our government. We are not supposed to be tossing grannies on to the fire of maximized profits. But we are.
Making every American regardless of circumstances rely totally on their own resources for virtually every contingency seems to be the philosophy of government. But a bank can navigate a depression better than a human being and a bank is unlikely to get a degenerative disease that bankrupts a family and destroys every vestige of financial security.
We should be looking out for each other not making sure of the highest possible return on investments.