Retirement is usually understood as the stage in which, after decades of work, people can leave their work obligations behind and enjoy a calmer life, with time for leisure and family. However, this image is far from the reality of some older people in Europe, who are forced to continue working at older ages to be able to meet their daily expenses.
This is the case of Roger Cliffe-Thompson, 82, a resident of Merseyside (England) who continues to work 37.5 hours a week because, otherwise, he would not be able to cover his expenses. “Everything is becoming more and more expensive,” he explains in statements reported by the British media. iNewswhich recounts their situation as an example of the economic difficulties faced by some older people.
Cliffe-Thompson, who worked as a teacher, admits he did not prepare for his retirement. Now his income comes from the British public pension and a small teaching pension, but it is not enough to cover all his expenses. For this reason, he has been working as an activities coordinator in a nursing home for years.
Working in old age to make ends meet
“I have a mortgage with interest payments until age 99, so I’m stuck,” he explains. In addition, everything is becoming more and more expensive: his home insurance has gone up by 25% and food continues to become more expensive. To save, take steps like sleeping with an electric blanket instead of turning on the heat.
Despite his advanced age, he works like anyone else full-time. He himself recognizes that the work is “exhausting” and he is worried about the future, especially if his health worsens and he cannot continue working.
The risk of not having saved for retirement
Cliffe-Thompson’s situation shows what can happen when you don’t prepare well for retirement. Since he cannot stop working, he is considering different alternatives such as selling his house and going to a nursing home. However, these centers cost between 800 and 900 pounds per month, approximately 1,000 euros, which would practically consume your entire pension.
In addition, he has family that he tries to help financially. He has a son, a grandson and a great-grandson, and he assures that money is not abundant in his environment, so he tries to support them as much as possible.