From Social Security to jobs: America's oldest workers were anxious this year

Older Americans have faced financial insecurity due to inflation, the job market, and concerns about benefits. Changes to Social Security and Medicaid increased anxiety this year about financial security. Many older workers have struggled to find jobs, citing ageism, technology demands, and rising costs. Kathleen York, 80, hopes she doesn't run out of money by 2026. York works as a contract industrial designer consultant in Illinois, but has not received a substantial pay raise since 2000. York, who is unmarried and doesn't have children, now works on her online business selling training videos in hopes of earning enough passive income to work less. If her business fails, she's worried about losing her home. She spends two hours each day looking for work, knowing this year's frozen job market hasn't done her any favors. She recently learned the basics of AI and social media marketing to stay relevant. "I can't afford to hire anybody else. I can barely afford myself," York said. "We're trying to capitalize on what we know, what we can do, and keep up with our skills as best as we can." This year, I've spoken to over 250 older Americans, many of whom are still working into their 80s. Most, including those with sufficient savings, expressed anxiety about their financial situations or those of their peers. Many said they felt more apprehensive this year than in the previous few - or at any point in their 60-year careers. Inflation and tariff uncertainty led to temporary spending cutbacks, including at the grocery store. Reports of staff cuts at the Social Security Administration led to fear of benefits disruptions. Some states cut Medicaid, and a weaker, more highly competitive job market has made the job application process more cumbersome. Many felt that older Americans were often forgotten in policy decisions this year. Though some programming has resumed, federal funding for the Senior Community Service Employment Program was delayed for a few months starting in July. Some said it's become more apparent to them this year that there aren't enough financial resources set aside for more vulnerable older Americans. "We put our elders out faster just because they're elderly, which is just a tragedy," said Joyce Johnson, 80, who works in visitor services for the Indiana State Museum. "I regret that people are expected to retire and are no longer considered useful." Older Americans are living longer and working later, and many fear their savings won't last them a decade from now. Some said they returned to work after retiring for extra financial security. Even with the stock market at all-time highs, many said their confidence in the economy is low, echoing near all-time lows in consumer sentiment. Prices for many items older Americans consume, such as medical care services, household insurance, and housing maintenance, have increased faster than overall inflation, according to the Consumer Price Index , leading many to trim their spending. "As a country, we need to invest in supports for broad coverage for basic health and...

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