NORECO is killing us

This no longer applies. There are many people now who are poor, that worked very hard for a long time. Circumstances not always in their control can wipe out a 401K or other savings plan. Investors in real estate and stock market have lost tremendous amounts of hard earned money. Some people worked hard for years at jobs that are no longer available, and are too old to be a "new hire". Companies do not want to train someone who is past his 40s or so. Such an individual may find himself in a position where he cannot get even a minimum wage job because of his past earnings, employers automatically will dismiss them at interview because they believe this person would never be happy working for minimum wage.

In the US, there are more poor people than for decades in history, they were not all lazy!

Larry

 

Larry, I have found myself in exactly this situation. My asawa and I have all but abandoned hopes of Her immigrating to the U.S. I am 59+ and when I returned to the U.S. after we married 09-28-10. I could not find a job that could support us. My Mutual funds are 1/3 what they were 5 yrs ago. I came back to the Phils this past September and plan on staying. Also most Employers will not even consider a resume if You have been unemployed for more than a year.