Waiting for 65
My Economy tells the story of the new economic normal through the eyes of people trying to make it, because we know the only numbers that really matter are the ones in your economy.
Michele Simons of Durham, North Carolina, is out of the workforce. She’s 58-years-old, and issues with both of her knees make it nearly impossible for her to work on her feet all day.
Although she wanted to be earning money, for a while the situation was fine, as her husband had a steady job at a big company. However, after 36 years there, he was suddenly laid off. Thankfully, Simons said, her husband quickly found another job within the same company.
“There’s nothing to say that they can’t just turn around and do the same thing six months, a year from now,” she said. “We no longer are living under the illusion that there’s any permanence with this.”
She and her husband are doing everything they can to cut costs and ensure they’re financially stable as they wait for Social Security and Medicare benefits. They cancelled their cable TV and landline phone and are hoping to rent out their basement as an apartment.
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