We interviewed Elizabeth White, author of 55, Underemployed, and Faking Normal. Watch a preview of her interview here.
Elizabeth White is an author and leader in the aging and retirement space. Her thought-provoking book, 55, Underemployed, and Faking Normal, outlines issues impacting the financial stability of seniors with a focus on how many people are simply "faking normal"—pretending to have enough when they are struggling financially.
It's Normal to Fake Normal
According to White, financial struggles impact everyone, from MIT grads to factory workers. Social isolation amplifies these challenges for Boomers—it's nearly impossible for a single individual to force a large-scale change.
What You Can Do
1. Connect with your community.
When Boomers align as a group, they are powerful. From a financial perspective alone, Americans age 50+ spend $7 trillion every year. What if all those people came together and voted with their dollars?
If you don’t have a built-in network of friends and family, White suggests becoming intentional about creating a “resiliency circle” to provide support in trying times.
2. Get creative with income.
Thanks to the sharing economy, there are more options than ever to bring income into a household. While they may not have enough saved for retirement, many Boomers do own a home...which can become a source of income through short-term vacation rentals, storage rentals, homesharing and other creative solutions.
Have you made any changes to bring in extra money? How do you lean on your social circle? Beyond money, what issues impact your life as an older adult?
Access the full interview video for more insights on social connection, the value of living with others and the strength of the baby boomer generation.
Visit www.silvernest.com to learn more about homesharing and sign up.