The number of elderly people who continue to work even after decades of career is increasing, often due to a lack of conditions to retire from active life. In the United States, for example, more and more workers over the age of 70 feel obliged to extend their professional activity for financial reasons.
A recent case that has generated international debate is that of Sandy McConnell, 80 years old, resident in the state of Nevada, who still works full time. In direct statements, he summarizes his situation: “I only have 37 dollars [31€] in the account.”
Family debts and responsibilities
According to the website specializing in business and finance, Business Insider, Sandy started working at the age of 16 and, throughout his life, accumulated several debts while supporting family members in times of need.
In 1997, after the separation, she became responsible for raising five children alone, while simultaneously maintaining a mortgage, car and credit cards. The decision not to join the company’s reform plan was motivated by the immediate need for money.
Impact of the pandemic
The Covid-19 pandemic has further aggravated the situation. Sandy lost his job and declared bankruptcy in 2021, repeating an identical process to 2004.
He currently works from home in a company with flexible hours and receives a social benefit of 1,523 euros per month, an insufficient amount to retire from active life. His total debt, excluding the house, is close to 60 thousand euros.
Home economics and daily habits
Despite the difficulties, Sandy maintains an organized routine and small habits that bring her joy. He enjoys visiting his grandchildren, walking his dogs and meeting old work colleagues.
Every night he dedicates some time to online poker as a hobby and strictly controls his daily expenses, limiting himself to the essentials of food and basic expenses.
Weakness of the reform system
The case of Sandy McConnell highlights the fragility of a system in which decades of work do not always guarantee financial security in old age.
As highlighted by , this accountant’s experience illustrates a phenomenon visible in the United States, but with echoes in other countries, highlighting the importance of consistent economic planning throughout life.
Portuguese reality
In Portugal, many elderly people face economic difficulties despite decades of work, with pensions often insufficient to cover the rising cost of living and healthcare expenses.
Many supplement their income with informal or part-time work, while others depend on family support. A significant number live at risk of poverty, especially women whose careers have been interrupted. Greater longevity puts pressure on the pension system and care services, creating the challenge of ensuring dignified aging and financial autonomy.
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