Retired Senior Gets Part-Time Job To Cover Bills As Black Retirees Face Poverty

Janette Campbell thought she'd be traveling the world, but, like other retired Americans, she's working part-time to cover living expenses.

Retired teacher Janette Campbell, 74, is working a part-time job to pay her bills after she realized her fixed retirement income wasn’t enough to make ends meet.

The senior retired from her position at 62 years old with expectations of taking care of her grandchildren and traveling the world. However, Campbell is currently employed at United HomeCare, where she handles emails, calls, and promotional material for the home health and community care nonprofit. “I couldn’t afford to pay my mortgage,” she told CBS Chicago. “…I didn’t want to be left out in the street homeless.”

Campbell’s situation is an example of what over half of Americans ages 50 and older worry about as they approach retirement stage — having enough money to cover living expenses, according to a study by the American Association of Retired Persons (AARP). “Among adults yet to retire, one in five have absolutely no retirement savings,” said AARP Senior VP of Research Indira Venkat. The organization revealed that one in four adults 50 and older expect never to retire, something Venkat said is a result of inflation, the price of housing, and a rise in debt levels.

For Black retirees, Social Security is relied on heavily for retirement income compared to their white counterparts, and Blacks are more than twice as likely to face poverty. AARP reported this is due to Black workers being paid less, which results in less savings, experiencing higher rates of unemployment, receiving less workplace retirement benefits, the gap in homeownership rates for Black families, and more.

In May, Indeed Influx released new data from a survey of 1,000 US seniors between 62 and 85, revealing the senior population resulting in “un-retirement.” The online marketplace found that one-third of retirees take one or more temporary job shifts every week, while 42% of non-retired seniors consider “layering on temporary work.”

Moneywise suggests retired seniors consider part-time work as an option for financial stability. Retirees should update their job skills and seek employment that isn’t taxing on the body. Tax incentives are like the Retirement Savings Contributions Credit (Saver’s Credit), catch-up contributions for individuals ages 50 and older, and more are available. If none of the options are a fit, seniors may consider investing in real estate or reducing living expenses, like downsizing on housing and transportation. As previously covered by BLACK ENTERPRISE, experts revealed that, on average, an American in their 50s headed toward retirement should have over $200,000 in their 401(K) accounts.