Hi, need to submit a 500 words essay on the topic Financial Independence of Elderly.Download file to see previous pages... Unfortunately for those who are approaching retirement age, the ever-increasi

Hi, need to submit a 500 words essay on the topic Financial Independence of Elderly.

Unfortunately for those who are approaching retirement age, the ever-increasing numbers of people eligible for Social Security means that the government may, in future, exhaust its allocated funds. The most interesting statistic here is that 23 percent of people aged 65 are still working. Some may be working voluntarily, but the majority of people are working simply because they have no other means of financial support. Many must take jobs that are far below their professional capabilities, and pay much less than they were once able to earn-competing with the younger generations is just too difficult.

Only two percent of people aged 65 in the United States are financially independent. What did this two percent of people do that the remaining 98% did not Whatever the answer may be, it is evident that the vast majority of 65-year-olds do not enjoy financial freedom after working for more than 40 years. A recent Time Magazine article noted that those who are aged 65 and over often have one or even two jobs to support themselves. It occurs to me that the question of how to live like one of the lucky two percent is a very important one for me to answer, so that I don't have to live like one of the 98 percent.