FYI: I never thought it would happen to me. All my life—working at the World Bank, getting my MBA at Harvard Business School, starting my own retail company—I thought of retirement as golfing in Florida (not that I really wanted to). Even after my business failed—taking most of my savings with it—I bounced back. I reinvented myself as a consultant and earned a six-figure salary. But in my 50s, the Great Recession hit, and the clients were slower and slower to call back. By age 60, it was crickets.
With nothing to speak of coming in, I was running through what was left of my savings. I started to notice friends in the same boat, trying to keep up appearances. A small group of us began to talk. All were 55 and older, well educated, with a history of career choice and good incomes. And then the bottom fell out. None of us expected to be here: in our fifties and sixties, scrimping and scraping or borrowing money from our adult children or 84-year-old mothers.
Regards,
Ted
https://www.barrons.com/articles/what-to-do-when-youre-retired-without-enough-money-51550325647?mod=djem_b_Weekly barrons_daily_newsletter
