‘$8 for a box of cereal?’: This Florida retiree says ‘everyone’s looking for a job’ because many seniors can’t survive on Social Security alone — why they’re ‘nervous’ about their prospects

Seniors are concerned they can’t make ends meet

Many older Americans are finding their savings and Social Security aren’t enough to cover the rising cost-of-living.

Of course, Social Security benefits on their own can’t compensate — with the Social Security Administration noting they’re only supposed to account for 40% of your annual pre-retirement earnings.

But there are many seniors who are facing sticker shock at the grocery store and finding they’re running through their nest egg faster than they anticipated.

“A lot of them are just really nervous,” case worker Melissa Heid told ABC Action News, noting that many of these older Americans don’t have families to support them either. “They are afraid that they aren’t going to be able to live and survive.”

A recent report from the Harvard Joint Center for Housing Studies reveals one-third of older adult households were cost-burdened in 2022, with nearly half of these households being severely cost-burdened.

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Older Americans struggling to find work

While the latest employment data seems to indicate the job market’s still holding fairly strong, some job seekers, including seniors, are struggling to find work.

Non-profit organization One Community Now in New Port Richey, which helps people in need, reports it’s seen an increasing number of seniors coming in who are seeking a job. So far, the organization has found work for just one senior at a Dunkin Donuts.

However, Heid adds fast-food industries are looking to hire younger folks who might be quicker on their feet.

“[Seniors] are having a hard time even finding a receptionist job somewhere,” she says.