Corpus Christi, Texas — Rising costs of living have taken a toll on some people, including those wondering if they’re adequately prepared for retirement.
Inflation has forced some people to deplete their savings or stop saving.
Jimmy Hayes, 63, isn’t going to slow down. Although he is eligible for retirement, he has no retirement allowance.
“I saved some money, but not enough to live long term,” he said.
Hayes now continues to work on the dishwasher, but said it wasn’t enough to keep up with rising costs.
“I’m a person of color, I’m an adult, I have a criminal record. All these things keep me from having a productive job,” he said.
Hayes is so focused on just getting on with life that he knows all too well what it’s like to have no roof over your head, describing it as a terrifying situation.
Hayes currently lives in an apartment on $200 a month through Mission 911, a temporary housing program, but will have to find a new home soon.
“When I checked into the apartment, the minimum was around $800, but that doesn’t include utilities. You’ll also need cable/internet, you won’t make it in time.”
As many others consider working past age 65, a U.S. News and World Report survey of 2,000 interviewed people last year found that about a third It turned out that 1 person used the retirement allowance to maintain his livelihood.
The same survey shows that 41% have stopped saving.
The Salvation Army’s Community Relations Development Manager, Abby Sislik, told 3NEWS that as more and more elderly people came to shelters, they noticed that the people they were helping were getting older.
“I feel like there are a number of reasons, but many go back to the difficulty of securing jobs at a living wage. It could be the aftermath of the pandemic, or the current economic situation,” she said. Told.
Mr. Hayes is forced to choose between independence and family while looking at the future path.
“If you take the car out of the equation, you could probably live in an apartment, but transportation is very lucrative. I just want to go home,” he said. .
His driving force is to work for as long as possible trying to rewrite the pages of his life.
“These are the results of my past deeds, but I want to live on my own and be a good citizen and forget the past,” he said.
Over the past three years, the City of Corpus Christi has invested $23 million through federal and state funds, trickling into various organizations such as the Salvation Army that help those in financial hardship. I’m here.
The Salvation Army’s deputy director of neighborhood services Jennifer Buxton said the city has already spent about $16 million on tenants and rent assistance alone. Helped 3,000 people, including the elderly, stay in their units after the COVID-19 pandemic.
“There’s no shame in needing help. But where do I go to get it? I always tell people the first thing to try is to call 211. Or go to 211texas.org,” she said.
Buxton said homelessness prevention is much easier to deal with than someone losing their home.
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