For many, retirement marks the end of their professional life. However, for Larry and Joyce Gesick, that moment turned into a phase in which, now retired, they had to go back to work, as Larry’s pension was not enough to cover their monthly expenses. Even after retirement, they continue to face a demanding day-to-day life, guided by necessity.
A couple who couldn’t stop working
The story takes place in the United States, where 77-year-old Larry Gesick makes a living unloading trucks. According to the Spanish digital newspaper, Noticias Trabajo, his pension was not enough to cover basic costs such as housing, food and bills. Currently, he receives around 12.57 euros per hour, which is equivalent to a gross monthly income of close to 2,068 euros.
His wife, Joyce Gesick, 66, also returned to work, carrying out full-time administrative duties, earning a salary of 11.93 euros per hour. “This is not a retirement, it is simply continuing to work every day. I did not return by choice, but by necessity”, he said.
In the United States, this reality is no exception. About one in five people over the age of 65 remains employed, which represents about 11 million Americans.
The consequences of a lack of financial preparation
Labor economist Teresa Ghilarducci, cited by the same source, warns that “working has become the new form of reform”. As he explains, more than half of citizens who reach retirement age do not have sufficient savings to live without income from work. Decades of inadequate pension policies and poor financial literacy have left many retirees without alternatives.
Larry remembers growing up on a farm, where he was never taught the value of saving. “No one explained to us that we should save money for the future. We always focused on working, not saving”, he confessed.
Today, the couple faces several debts, including a mortgage and car payments, which total around 10,220 euros. After paying off their monthly expenses, they only have around 50 dollars left, which leads them to reflect that, if they had waited until age 70 to apply for a pension, they could have had a more comfortable income.
Planning is essential to avoid forced returns
According to Ghilarducci, the secret to avoiding situations like Larry and Joyce’s is rigorous financial planning. It recommends that, while still at working age, emergency funds are created that cover six to twelve months of expenses, and, once retired, reserves are maintained that allow one to two years to live without depending on additional income.
The couple admits that the lack of preparation was decisive for the situation they find themselves in, but they believe that discipline and financial control can help them regain some balance.
As mentioned by , cases like that of Larry and Joyce Gesick reflect a growing trend among North American retirees, who are forced to continue working to ensure financial stability. This reality reveals the weaknesses of the pension system and reinforces the importance of greater financial literacy so that retirement does not turn into an involuntary extension of working life.
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