Monterey, CA Older Americans Facing High Unemployment Rates

View From A Non-Profit Serving Carmel, Carmel Valley, Carmel-by-the-Sea, Gonzalez, Greenfield, King City, Marina, Monterey, Pacific Grove, Pebble Beach, Salinas, Seaside And Soledad California

I wrote yesterday on my blog about a recent study showing older Americans defaulting on their mortgages by leaps and bounds.  Others are on their way.   A recent study shows that long-term unemployment rates for those 55 and older was high, and more than half of them have been unemployed for six months or more.  Exacerbating the problem is the fact that 35% of displaced workers are living off of what were supposed to be their retirement funds just to get by.  The value of 401K's and IRAs are being diminished, which may result in more people approaching retirement with little to nothing in the bank.  That's a sad state of affairs.  Monterey County is one of the most expensive places in the country to retire, and it's almost impossible for someone to get by solely on Social Security.  Rents are high and gas and food prices have been on the rise.  It's likely that more cuts will be made to the Medicare program, which could result in more out of pocket expenses for medical bills.  Some seniors aren't even going to the Doctor like they should because they can't afford the gas.  Family inHome Caregiving and Alliance Home Health are constantly seeing seniors in need who need help to remain at home and independent.  But Medicare doesn't cover a lot of hours for in-home health care, and it doesn't pay anything at all for private duty caregivers.  People are living longer, but it's expensive to get old because you need more assistance in the home.  At Hands To Help Seniors, we're helping as many seniors as we can.  Please click on the donate button if you can afford to. 

Please note that this blog reflects my personal opinion and may or may not reflect the opinion of HandsTo Help Seniors and the individual members comprising the Board of Governors.