Work and collect the Social Security pension at the same time it is the goal of many over 55 years old who seek to continue with their work life or want an early retirement. Data from a study on ‘ageism‘ and aging of the Mapfre Foundation in collaboration with Google, points out that many workers whom society considers senior, feel more active than ever.
And they notice that “they get old before their time”, because when the media or on the street talk about older people, they think of a 67-year-old person. And for them it is not like that. Old age, as they feel it, is in the 74 years and as a result, 3.6 million people over 55 years of age have felt discriminated against because of their age, and 1 in 3 people between 55 and 59 years of age have noticed the same thing in the work environment. In fact, only 15% of those over this age would continue working and delay retirement.
But what is striking about this report is that 38% of seniors who are working and 25% of those who have already retired wish they had been able to combine employment with a pension.
The elderly, essential financial help for their families
Those over 55 years of age continue to be the financial support for their families. Half must help their closest relatives, especially their children, and even so, the 51% assure that they reach the end of the month without problems. The intention they pursue is to be prepared for possible unforeseen events (60%), obtain security and peace of mind (51%) and save to be able to add to the pension.
In 57% of the homes where an elderly person lives, they help with the payment of loans or the home mortgage. In addition, they collaborate by paying part of the water, electricity, gas or groceries.
This ‘V Senior Consumer Barometer’ prepared by the Ageingnomics Research Center has analyzed the consumption habits and behavior of this age group, which is 34% of the total population, 60% of spending and 25% of GDP (Gross Domestic Product).
They indicate that they feel comfortable with their current financial situation, a satisfaction that increases by 8 percentage points compared to a year ago. 73% consider that it will improve in the coming years.
The majority of seniors own a home
Although a high number of older people already owns his home and fully paid (69%), 15% continue to rent and 23% have had to make changes to their home to make it accessible.
Regarding other housing alternatives, 30% are open to coliving, that is, sharing a room with students, for example. Of these, a high number of seniors who have university studies stand out.
The reason is that they need company, because coliving goes beyond sharing expenses. It is keeping company, sharing moments and having common activities. Only 18% of seniors consider the possibility of living in a residence, while 54% would not be willing to leave their home.
Anyone who wants to know more about this ‘silver economy’ report has access to the document at this link.