• Many older Americans are seeking budget-friendly ways to fend off loneliness.
• Some are finding community in new places; others are building ties after the death of loved ones.
• Low-cost activities and returning to the workforce have helped some stay social.

During the colder months, Barbara O'Keeffe, 79, her husband, and their friends journey into the rocky deserts of Arizona. With the intense sun shining on their sunscreen-covered faces, they take walks and admire the vastness.

When May hits and the blistering heat traps them inside, O'Keeffe occasionally wakes up early, tries a new breakfast spot, and bookmarks it for when her snowbird friends return in the winter.

Their finances are stable, but the O'Keeffes have tried to keep costs down while maintaining a healthy social life, though they will splurge on concerts.

But because of rising costs, they've slowed their search for new restaurants and embraced being homebodies during the summer, taking up projects like sewing and going through old photographs. Their over-55 community often holds events in the evenings, and they've maintained online connections with friends from their travels and work. Still, balancing social activities on a budget isn't easy.

"One of the hardest things at our age is that we are starting to lose close friends of 30 to 40 years, and each time it happens, it reinforces our own mortality," said O'Keeffe, who retired over 18 years ago from her role as a university department head.

O'Keeffe is one of dozens of retirees who recently told Business Insider they're trying to stay socially connected despite having limited retirement savings. Some said it's difficult to make friends later in life, especially without workplace connections to fall back on. Others said spending on food, housing, and other essentials has already strained their monthly budgets, making it harder to prioritize relationships and fend off loneliness. Many older Americans, particularly those with lower incomes, have been caught in the nation's broader "loneliness crisis."

What's more, fears about the future of government benefits like Social Security and Medicaid because of federal staffing and budget cuts, along with the stock market's ups and downs, have added to their financial stress. This story is part of a series on older workers.

Some retirees are going back to work to seek connections

For some retirees, going back to work has been the most practical way to address their financial and social challenges.

Carolyn Evans, 71, worked at a Big Four accounting firm for two decades before retiring in 2021 to care for her terminally ill husband. Despite having a pension and 401(k), she didn't have enough saved to retire comfortably — she lost much of her $400,000 in savings during the 2008 recession and paid hefty bills to repair her house after a natural disaster. When her husband died in 2022, she felt isolated and returned to work.

"I wanted to be around people because of the loneliness that I encountered after my husband passed away," Evans said.

Evans, who lives in Texas, said she couldn't find many part-time openings, so she became a full-time accountant for a real estate company. She's enjoyed working with younger people, property managers, and clients. Evans isn't sure when she might be able to retire again, though she's hopeful work will keep her fulfilled and financially stable for the time being.

"I enjoy work because it is very community-connected with various social activities such as bowling and pickleball," Evans said. "My children often entertain with barbecues and other family gatherings, there are church gatherings, and activities where it is often potluck and less expensive."

Finding low-cost activities and returning to work haven't fully solved the social challenges many retirees, like Libby Mintzer, face.

Mintzer, 73, retired from her job as a paralegal in 2022. She relies on her monthly Social Security income, which she says is barely enough to get by. As a result, Mintzer said she's been actively searching for part-time employment — preferably an office job — but hasn't had any luck yet.

The financial strain has also made it harder for her to build new friendships since she relocated from New York to Tampa, Florida, about three years ago. She's tried joining local meetup groups — some of which involved going out to dinner — but said they haven't been a good fit.

"I ended up broke every month because I'd spend $60 on dinner, and I didn't click with anybody," she said.

When a social opportunity catches her interest — even an expensive one — it can be hard to pass on it. If she overspends, she said she typically cuts back on food.

"To me, it's worth spending money or even going over my budget once in a while," she said.

Illuminated by a large desk lamp, Fay Pacchioli, 93, crunches numbers in Excel under the watchful eyes of her dogs, immortalized in framed photos on her wall.

It's midnight in Easton, Pennsylvania, and she's hours into her shift. It's when she focuses the best, kept awake by the scent of spring flowers on her desk and the scuttling paws of her petite dog, Miss DeeDee.

Her patterned cane, the black-and-white photo of her late husband, and the medications she's been taking since having a stroke in August are signs of how much has changed in the 50-plus years since she opened her pet supplies store. Still, the buzzing texts on her phone and stream of emails root her in her present bookkeeping tasks for the business, which she does part time on her own schedule.

"I'm not ready to quit yet," Pacchioli said. "I keep seeing in the paper that there are people over 100, and I'm not sure if I'm going to make that, but I feel good."

Pacchioli is one of half a dozen Americans in their 90s who talked to Business Insider about why they're still working. All said they work to keep their minds fresh and have a purpose, though two said they don't have much choice for financial reasons. Most said they work between doctors' appointments and family visits, arranging their schedules to avoid getting too tired or burned out.

It's rare for someone in their 90s to work. A Business Insider analysis of Census Bureau data found that about 36,000 people 90 and older in the US work at least part time. It's a tiny part of the workforce, but valuable for the workers and their employers.

Christina Matz, the director of the Center on Aging and Work at Boston College, said there's a "bifurcation" between more privileged older workers who can retire when they desire, and those who have to work to supplement Social Security. Some older Americans in precarious financial situations take whatever position they can find. Others have tied much of their identity to work and can't fathom giving it up, especially those who built their own businesses or were self-employed.

"To sell their equipment, sell their land, sell their business, is very hard," Matz said. "Oftentimes, you see that farmers will continue to maintain some level of involvement in the field into their 80s and 90s. It's partly because of this fear of what will happen if I let it go."

For Pacchioli, it's taken seven decades to master work-life balance. She recently attended a class reunion with friends from college, and she often plays bridge with others around her age. During the summers, she spends time at her lake house.

"I don't have a million dollars, but I have enough money to live comfortably on," Pacchioli said. "I have money saved to pay for my funeral and expenses, and I have some designated for each of my children and grandchildren, but I don't have a lot."

He has no plans to stop running his company

James "Buddy" Hooper, 91, works more hours in a week than many working professionals half his age.

"I am so driven to get my company to where it will continue to grow without me that all I do is work," Hooper said, adding he typically wakes up at 6:30 a.m. "To qualify that, I work when I please. If I want to take time off, I take time off."

Hooper, who lives in Clearwater, Florida, began his business, OrangeBee Money Global, in 1989. He works with companies and entrepreneurs to generate additional sales and clientele. Hooper doesn't charge an up-front fee or membership cost, but he takes a 10% broker's fee and charges a small monthly fee if OBMG delivers new customers. He runs the business himself but sometimes brings in outside help for more technical projects.

"A football player does not get paid for playing football; he's paid for his time, and what he does with his time determines how much money he makes," Hooper said. "When I discovered that, I realized that everybody has time, and I can turn time into money."

Despite some nerve damage in his legs and feet from car accidents that has had minimal impact on his physical activities, he credits his many early mornings and meeting-heavy days to his parents' work ethic. They grew cotton and vegetables on their farm in Texas and traded in their cows to pay back loans. Hooper, who was in the Marines, also previously worked at Sears and Goodyear Tire.

Now, he said he won't stop as his company continues expanding to global markets.

"You've got to find something that you love to do," Hooper said, adding that it's important not to try to "make a whole lot of money real fast" without enjoying the job.

'I want to be doing something constructive and useful for people'

Dolores Haller, 92, hasn't stopped working since she was 13 and earned $1.35 an hour at a dairy store. Because she has limited savings, Haller said the extra money she earns now as a bookkeeper for a real estate lawyer three days a week is crucial.

Her career included stints as an accounts manager at an electrical wholesaler and a fencing company. She also ran a business selling insurance for 18 years.

Haller, who lives near Buffalo, New York, said she and her late husband didn't focus much on retirement planning and were "very generous" with their children. She said she wasn't anywhere near wealthy growing up, and never had much for most of her life, though she's never needed a lot to be happy.

"It's all gone — everything I've ever had in a savings account has gone toward living expenses," Haller said, adding she earns in the mid-five figures annually from Social Security and what she earns as a bookkeeper. "I'm not wealthy, but I have enough to live on because I don't have a lot of wants."

When she's not working, she cares for her dog, plays games on her iPad, and visits friends and family. She said she has high blood pressure but is otherwise in good health, adding that she had other family members who lived into their late 90s. And while she's mostly deaf, it hasn't stopped her from doing anything.

"I want to be doing something constructive and useful for people," Haller said.

'I'm still reading and learning every day'

For some 90-somethings like Lewis Tagliaferre, 92, "work" means passion projects with a little money coming in.

Tagliaferre, who retired 27 years ago from his job as director of marketing services for the National Electrical Contractors Association, earning $85,000 a year, said retirement has not been a time to kick his feet up and relax. He stopped working after calculating that his pension would only increase by $600 a year if he worked past retirement age. After retirement, he wrote freelance magazine articles and bought and sold motorcycles.

Tagliaferre said that when he retired, he had about $200,000, and his house, which he bought in 1973, was paid off. But he lost half of his investments in 2008 amid the Great Recession. It took him six years to recover.

The death of his wife and many of his close friends compelled him to search deeper to discover his purpose upon retiring.

"In my neighborhood, we had a group of older people who got together occasionally for lunches, but they've all died," Tagliaferre said. "There's nobody around here anymore. The houses have been recycled with new families, and I'm an outlier here."

After retiring, he began the first of 12 books he's written on topics including religion and aging, and he's still hoping to secure a book deal. In 2024, he made $115,000 from his pension and Social Security. He paid for his house and car in cash, so he's kept his expenses low. He's managed his finances carefully and tries to stay occupied, though he said he gets lonely more often.

"We don't know what might happen; I could have a stroke tonight," Tagliaferre said. "I'm still reading and learning every day."

• Sally Ann McCarter, 85, works part-time at a fulfillment company in Pennsylvania.
• She retired at 73 with little savings and quickly returned to work for financial stability.
• Despite minimal savings, McCarter values staying busy and connected in and out of the office.

This as-told-to essay is based on a conversation with Sally Ann McCarter, 85, who works part-time at a fulfillment company in Pennsylvania. Though she retired at 73 with almost no savings, she quickly returned to work and has been at her company for over a decade with no plans to stop. She said not doing much planning for retirement, though oftentimes stressful, has its benefits. Her words have been edited for length and clarity.

I am perfectly satisfied with my situation. There could have been things that would have been better had I thought about them, but I can't change it.

I started out as a secretary at a teachers' college before moving to a steel company, where I stayed for 43 years in the sales department.

I didn't have savings at all after buying land for my house because I never thought about retirement. For many years, my Social Security didn't cover everything, which I waited until 65 to take.

I was ready to retire at 73. But I didn't enjoy it as much as I thought I would. I thought I might do some traveling, but my husband was no longer with me, and it's no fun to travel by yourself. I really missed being busy. Within a month or two, I was ready to unretire. I never thought I would have to get hired at my age, but I got hired right away.

I now get $2,547 monthly. I get retirement money from the steel company, which is around $1,000 a month and helps a great deal. I could make it without work, but I would have to be very careful what I spend it on.

Unretiring and working at 6 a.m.

I went back to work. I missed the people and the company. I've been there for 12 years at a fulfillment company, and now I sit at the front desk and greet clients.

I am the first person to come to the office. I unlock the door every morning and let in clients, finding out who they are and who they want to see. I am a very early riser, and while our company doesn't open until 8:30 a.m., I go in and open it at 6 a.m. I do not charge them for it because it's my decision. I work until 12:30 p.m.

I answer the company phone and forward it to the person who should get the call. I've told them that whenever someone has extra work and no one else to do it, I'm available. I've been doing a lot for our accounting department while one of their members is out sick.

With the house and job, I'm making out all right financially, but I'm not saying I have much extra left over. I wish I did, but it just doesn't work that way.

Navigating loneliness and discovering peace

After my husband passed, I've been by myself, and it's a long day when you're by yourself, regardless of the work you have to do. I had two brothers, who I lost, and just lost my sister-in-law. My other relatives are in the Carolinas. People are important in staying mentally active.

I have a couple of friends, including one in his 90s, whom I visit occasionally. I have friends at work, a husband and wife, whom I meet on Friday nights for dinner. I have a neighbor who is very nice and thoughtful and does a lot for me, such as my taxes.

I take no medications whatsoever. I've only been in the hospital once in my life, and that was for appendicitis. I go to the doctor once every three months for a checkup, and he says, "I don't know what you're doing, but keep doing it."

I still have a mortgage and expenses. I used my savings to buy land, and then put a house on it. It's a log house on four acres, ranch-style with three bedrooms and two baths. It's very comfortable.

My husband wanted this house, and he got to enjoy it for about six years before he passed. I now spend my time taking care of the house. There's always some expense around the home I need money for. I just had several trees taken down, and there's an awful lot of dust I'm going to have to clear out.

Try to put something back from your paycheck each week so that you don't have a hard time. Not everybody is as fortunate as I am to be able to get along. Pre-planning is very important, but you should enjoy life.

I'm going to continue working for as long as I can do it. I'm taking each day as it comes. No one knows how long they have. I don't look too far in the future because you never know. That's just life.

• House Republicans have proposed cuts and tweaks to federal Medicaid funding.
• Business Insider analyzed who receives Medicaid in the US.
• Cuts could affect children, low-income millennials, and residents in states like California.

House Republicans' latest budget plans suggest big cuts could be coming to federal Medicaid funding — and it could mean less access to healthcare for millions of Americans.

To understand who might be vulnerable, Business Insider used publicly available enrollment and demographic data to create a picture of the typical recipient. The results: Children, lower-earning millennials, and those in Western and Northeastern states could be particularly impacted by any cuts.

Over 79 million Americans, or just under a quarter of the population, receive coverage under either Medicaid or the Children's Health Insurance Program, which is eligible for children through Medicaid. Medicaid and CHIP are paid for by a mix of federal and state funding.

The House Energy and Commerce Committee's proposal was released on Sunday and includes about $715 billion of cuts over the next decade from Medicaid and the Affordable Care Act. On Wednesday, House Republicans from the committee voted to advance the proposal, which will go to a full House vote. That might mean that 8.6 million people could see their health insurance coverage axed, according to an analysis released May 7 by the nonpartisan Congressional Budget Office.

Who receives Medicaid

Medicaid enrollment data from October 2024 and July 2024 population estimates from the Census Bureau indicate that at least 10% of residents in nearly all states relied on Medicaid or CHIP, with New Mexico and California leading.

To get a picture of the demographic breakdown of Medicaid beneficiaries, Business Insider analyzed individual-level data from the Census Bureau's 2023 American Community Survey assembled by the University of Minnesota.

Children are highly overrepresented among Medicaid recipients: People under 18 make up just about a fifth of all Americans, but nearly 40% of Medicaid recipients. Conversely, prime working-age Americans — who are between 25 and 54 — are underrepresented among Medicaid recipients, compared to the population at large. The average Medicaid recipient is around 32 years old.

Medicaid recipients were unemployed at a higher share than the rest of American adults; around 40% were employed, compared to around 60% of all adults.

A far greater share of Medicaid recipients was not in the labor force, meaning that they're not working or actively looking for work. There are many reasons people may be out of the labor force — they might need to provide care to a child or someone else, or have simply thrown in the towel on finding work.

Accordingly, Medicaid recipients are lower-earning: The average annual income among adults on Medicaid was $21,654, less than half of the average income of $55,050 for all adults; around a third of all Medicaid recipients lived below the poverty line, compared to 13% of all Americans.

Adult Medicaid recipients were also less likely than the total American adult population to be married, and a slightly higher share is separated or divorced. The greatest share of Medicaid recipients is single, and Medicaid recipients are also slightly more likely to be female than male.

Compared to all American adults, Medicaid recipients were also more likely to have less than a high school education; just under 10% have a bachelor's degree as their highest level of education.

Similar to the wider American population, the largest share of Medicaid recipients are white; however, Black and Hispanic Americans are disproportionately represented among American adults receiving Medicaid. The analysis also showed that immigrants are underrepresented among Medicaid recipients.

What's on the table now

The latest proposal from the House Energy and Commerce Committee, which oversees Medicaid and Medicare, includes increasing Medicaid user fees, more frequent income verification, and adding work requirements for lower-income adults without children — which would go into effect in 2029.

The proposal would aim to crack down on using state taxes for hospitals to secure more federal funding. It would also require some copayments for doctors' visits for Medicaid recipients who make more than the federal poverty limit.

In addition, the proposal looks to reduce Medicaid expansion rates for states that cover people living in the country illegally, as well as prevent Medicaid from funding Planned Parenthood and other abortion providers.

It's a less severe proposal than some commentators expected. The GOP committee members opted not to lower the federal Medicaid matching rate or implement a per capita spending cap, which were pushed for by some GOP leaders.

Republicans have been split on the best path forward for Medicaid cuts, as some represent districts that have among the highest Medicaid reliance rates.

Of course, Trump's big, beautiful bill is far from a guarantee. The coming weeks and potentially months of negotiations likely mean that the final iteration will reflect what Republicans can agree on cutting. For now, though, Medicaid seems to be in their crosshairs.

Do you have a story to share about potential Medicaid cuts? Contact these reporters at [email protected] and [email protected].

• Republicans are trying to pass Trump's "One Big Beautiful Bill" in the coming weeks.
• It includes new tax cuts, changes to Medicaid, saving accounts for kids, and other provisions.
• Here's what you should know about the centerpiece of Trump's legislative agenda.

For months, President Donald Trump has pursued his sweeping agenda through executive actions. Now comes the hard part.

Republicans on Capitol Hill are finally putting pen to paper on what Trump has called the "One Big Beautiful Bill," a sweeping fiscal package that will serve as the centerpiece of the president's legislative agenda.

The bill includes GOP priorities like no taxes on tips or overtime, cuts to Medicaid, "MAGA accounts" for children and several other provisions.

It will take weeks for lawmakers in the House and Senate to work out the final details, and it's likely that some changes will be made along the way. Republicans hope to send the bill to Trump's desk by July 4.

Here's what you should know about what's in the "One Big Beautiful Bill."

The bill includes cuts to Medicaid, and millions could lose health coverage

As part of the plan approved by the House Energy and Commerce Committee, states would implement work requirements in 2029 for childless adults on Medicaid who do not have a disability, mandating they work for 80 hours a month.

A component of the plan would increase the price of doctors' visits, mandating beneficiaries making above the federal poverty limit to pay co-payments of up to $35. States would also be required to stop taxing hospitals and nursing homes in order to secure more federal funding.

Medicaid recipients in some states would have more paperwork to regularly confirm their residency status and income. And the plan would lower federal funding for some recipients in states that fund medical coverage for undocumented immigrants.

The Congress Budget Office estimated the legislation would save about $912 billion over the next decade in federal spending, about $715 billion of which would derive from Medicaid and Affordable Care Act cuts. The CBO said about 8.6 million people could lose their insurance coverage.

The plan came short of expectations among some ultraconservatives who wanted more Medicaid cuts at the federal level. Some GOP leaders wanted per-capita caps for those in Medicaid expansion states and a lower across-the-board rate at which the federal government supplements each state's funding for Medicaid programs.

Democrats have strongly opposed the bill, emphasizing that millions of Americans will potentially have their lives uprooted by Medicaid cuts.

No tax on tips or overtime, making Trump's 2017 tax cuts permanent, and more

Some of Trump's flashiest campaign promises were to remove taxes on tips, overtime, and Social Security. This bill largely gets those done, but only for the next four years — lawmakers will have to decide whether to renew the cuts in 2029.

The bill would allow workers in an "occupation that traditionally and customarily receives tips" to claim a tax deduction for the sum of all tips that they received in the previous year. It would also do the same for overtime wages. Neither deduction is available to anyone who is a "highly compensated employee."

To help accomplish Trump's "no taxes on Social Security" pledge, Republicans created a new $4,000 tax deduction for seniors making less than $75,000 per year. There's also a provision in the bill to fulfill Trump's promise of no taxes on car loan interest.

There's also an extension of the child tax credit, which is currently $2,000 but was set to decrease to $1,000 after this year. The bill would increase the credit to $2,500 through 2028, then it would drop to $2,000 permanently after that.

If you're thinking of buying an electric vehicle, you might want to do so before the end of the year. The bill would eliminate existing tax credits for new and used EVs, and it would impose an annual registration fee of $250 for EV owners.

The bill also makes permanent a slew of tax cuts that Trump and Republicans enacted in 2017. The average American won't feel much of a difference, since they've probably gotten used to the existing tax rates and brackets that have existed since 2018. But it's the most consequential part of the bill from a budgetary perspective, adding trillions to the deficit over the next several years.

MAGA savings accounts

The bill establishes "Money account for growth and advancement" accounts, or MAGA accounts, for children. The idea was originally proposed by Republican Sen. Ted Cruz of Texas.

The federal government would pay $1,000 to babies born from 2024 through 2028. After the cutoff, parents will still be able to put $5,000 per year into each account.

Cruz's proposal is similar to previous Democratic-led efforts for "baby bonds," but the biggest difference is that there is no income cutoff. Sen. Cory Booker of New Jersey, a Democrat, envisioned a program primarily targeted at low-income families.

A repeal of Biden's student loan forgiveness plans

If enacted, the reconciliation bill would mean major changes for student-loan borrowers. The legislation proposes terminating all existing income-driven student-loan repayment plans, including Biden's SAVE income-driven repayment plan, which would have shortened the timeline for debt relief and provided cheaper monthly payments. While SAVE is currently paused due to litigation, Trump and Republican lawmakers have said they would not carry out the plan if it survives in court.

Under the bill, borrowers would have two repayment plan options: one, called the Repayment Assistance Plan, would allow for loan forgiveness after 360 qualifying payments, and the other option would be a standard repayment plan with a fixed monthly payment over a fixed time period set by the servicer.

Payments made under the Repayment Assistance Plan would be calculated based on the borrower's income and would count toward Public Service Loan Forgiveness.

A 10-year ban on state-level AI laws

House lawmakers handed a major win to Big Techby including a 10-year federal preemption on all state artificial intelligence laws in the larger bill. Congress has talked about a federal AI policy, but no serious legislative proposals have emerged.

In the meantime, states have tried to fill to void. Major tech companies have long fought state-level AI regulations. Last year, California lawmakers passed the nation's most sweeping AI legislation only for Gov. Gavin Newsom to veto it.

Meta, OpenAI, and Anthropic lobbied against California's bill. Meta recently wrote to the White House that state laws "could impede innovation and investment."

The issue isn't going away. In the 2024 legislative session, lawmakers in at least 45 states introduced AI-related bills, according to the National Conference of State Legislatures.

Unlike most of the other provisions on this list, the AI regulation ban faces major hurdles to making it into law. Republicans must adhere to strict parliamentary rules to pass Trump's bill without facing a Democratic filibuster in the Senate. One rule is that all provisions must be primarily fiscal in nature, and many expect that the AI provision will fail that test.

A debt ceiling hike, the end of IRS Direct file, money for a border wall, and more

Avoiding default: Republicans would raise the debt limit by $4 trillion, staving off a potential default that could come later this summer. One way or another, Congress will have to address the debt issue soon. The federal government is expected to exhaust its borrowing ability sometime in August.

Billions for missile defense: Trump wants the US to have a futuristic missile defense system inspired by Israel's vaunted "Iron Dome" air defenses, but the US shield would include space-based components and focus on longer-range missile threats rather than the smaller weapons Israel faces. House Republicans have allocated roughly $25 billion for overall missile defense, most of which will go to the "Golden Dome" project.

700 more miles of Trump's border wall: Republicans proposed spending roughly $47 billion on border barriers, which will cover 701 miles of "primary wall," 900 miles of river barriers, and 629 miles of secondary barriers. Trump repeatedly fought in his first term to build a massive border wall between the US and Mexico but struggled to get funding through Congress.

A big tax increase on large university endowments: Republicans would significantly increase Trump's 2017 groundbreaking tax on colleges and universities with large endowments. Under the bill, the tax rate would be tied to the size of their endowment, adjusted by student enrollment.At the low end, the rate would remain at 1.4%. At the highest level, universities would pay 21% tax if they have an endowment of $2 million or more per student.

IRS direct file: The big beautiful bill would officially kill off the IRS's Direct File program, a Biden-era initiative that has long been a subject of Republican ire. In April, a Treasury Department official told BI that it was a failed and disappointing program. The new legislation would instead allocate funding towards studying a public-private partnership to provide free filing for a majority of taxpayers.

This as-told-to essay is based on a conversation with Fay Pacchioli, 93, who works as a bookkeeper for the business she founded over 50 years ago. Pacchioli, who lives in Pennsylvania, said she doesn't have much saved, and her husband died six years ago. Still, she loves working and maintains a lively social life. Her words have been edited for length and clarity.

I'm not ready to quit my job yet. I keep seeing in the paper that there are people who are over 100, and I'm not sure if I'm going to make that, but I feel good.

I'm not wealthy. I get completely knocked over when I read how much money people have.

I have enough money to live comfortably. I have money saved to pay for my funeral and other expenses, and I have some money designated for each of my children and grandchildren. Still, I don't have a lot.

I grew up during the Great Depression. My family was very poor. My father was sick when I was born and did not work. My mother had four children. By the time I got to 10th grade, I got a job, and it was the first time I really had any money of my own.

I had a few jobs before creating my business. I worked for a book company and edited their magazines from high school-age, until I got a job at a radio station. I loved the radio station job, and then I got a job with a newspaper.

During this time, I got really into dog showing at tournaments and dog shows.

'Retiring' but working part-time

I started selling grooming equipment out of my car, as well as dog food. At the time, I taught people how to handle dogs, and I started ordering equipment for them.

Eventually, I opened a store selling pet supplies and doing dog grooming, and that has gone on for over 50 years. It's called Sandy King's, and it's still in business. I also went to business school so I could keep up with the changing paperwork.

We sold our house and bought the building we are in now for the business. The living quarters were on the upper level. We had to build the store entrance, which we attached to a back porch and put in our staircase down to the store facilities. Then we progressed to turn a recreation room into a retail store.

We were open for about four months when my first salesman came to visit. He told me I would never make it in the back of the building, with a narrow stairway going down. It did make me think a bit, so about a year later, when we recovered from some of the initial expenses, we put up a huge lighted sign. Since we are on a main street, that did the trick.

I sold the business in 2016, and I was 85 then. Still, I never stopped doing the books. My daughter bought the business, and she runs it. She has her own employees, and she does whatever she wants now. I help out when they need it.

Crafting a healthy work-life balance

My mother became handicapped at 82 and died at 86. She hated television, and she used to go to the library every few weeks, get a stack of books, and read all the time. I knew when I got older, I had to have something that I was going to do to keep myself active.

This work definitely got me up in the morning because we opened at 9 a.m. I was still dog showing in my 80s, so it kept me active in my profession.

I think retirement is wonderful because I don't have to work any day when I don't want to work. I set my own hours, and if I get my paperwork caught up, I can be off for days in a row. I would probably say I work a few hours a day, but sometimes, if I skip a day, then I might be doing six hours the next day. I'm a night person, so I often work until midnight or 1 a.m., then sleep late in the morning.

If I weren't working, I don't know what I would do with myself. When it was a holiday weekend and we were closed Friday through Sunday, I caught up on my work by Saturday, and I was bored the rest of the time. I watch a lot of TV when I'm bored, and I know that's not good for me.

In my spare time, I go to therapy and I take care of my dog. She requires a lot of attention. She's very spoiled. I do a little cleaning up around the house, as I live alone, although I have a housekeeper who comes in once a month.

It's so important to keep yourself active. I go out a lot. I went to my class reunion. We're all 93 or 94, and we still have one. We meet once a month in addition to our yearly reunion. I only go out to dinner once in a while. I also play bridge, getting up and going between tables. It's keeping my mind and body busy.

I was married once, and my husband died six years ago. I have three children, who are all wonderful to me. They all come if I need help. I had a minor TIA (transient ischemic attack) in August, and I wasn't allowed to drive for a while, so they would run all of my errands for me. I hope to drive again very shortly.

I have a summer home at the lake, so in the summer from Memorial Day until Labor Day, I go to the lake. It's a lot more walking than where I live now.

Stay active. If you have to volunteer at the hospital as a helper, whatever you have to do, do it. It will keep you on your feet.

• Centenarians shared their life advice, emphasizing long-term investments and staying active.
• They stressed maintaining social connections and a youthful mindset for longevity.
• The U.S. has nearly 98,000 centenarians, with projections of 421,000 by 2054.

Americans who have made it to 100 years old have seen a lot: the Great Depression, the moon landing, 16 presidents, and the ups and downs of 2025.

Five centenarians — people who are at least 100 years old — told Business Insider that life keeps getting better in the triple digits, and shared their advice for a successful life and retirement. This included slow and deliberate investments, keeping busy however they could, maintaining friendships, and, as one put it, "thinking young."

Though these centenarians said they aren't as worried about money as much now that they're living with their children or grandchildren or in an assisted living facility, most stressed the importance of patience, giving to charity, and saving cautiously for the very long term.

Census population estimates from July 2024 show about 98,000 centenarians in the US, about 75% of whom are women. This number has nearly tripled since 1990. The Census Bureau projects over 421,000 Americans to be at least 100 years old by 2054, making up 0.1% of the US population.

Financial advice from centenarians

The most important financial advice the centenarians shared was saving whatever they could and letting it grow over time.

Jack Weber, 101, said one of the keys to his financial success was investment for the long term using excess funds, which he's planning to use to help his descendants. Weber, a Navy veteran who spent much of his life as a dentist, retired in 1984 after building a successful practice and investing in real estate, at one point paying mortgages on three houses.

"The stock market goes up and down today. We're in a terrible downturn in the market. But in the long run, over many years, the stock market always goes up," said Weber, who lives on Long Island.

Weber said starting small with investments is the way to go, adding people shouldn't go to the bank and put their money in a savings account that only gets 2% interest.

"Put it in a good solid stock, and a mutual fund is probably your best bet," Weber said, acknowledging that younger generations have faced more challenges buying a home.

Margaret Vaccaro, 102, added that having patience leads to better long-term financial outcomes. Vaccaro worked for much of her career in healthcare finance, including a 25-year stint as a certified director of patient accounts at a major hospital.

Though she lives at an assisted living facility in Peekskill, New York, Vaccaro still manages donations for the facility as a volunteer, writing letters to residents' contacts to raise money and overseeing holiday funds for non-management employees.

"If you watch your pennies, if you watch what you do, then when you need the dollars for a downpayment on that house or for a new car, you've got them," Vaccaro said.

While Helen Juanita Glover's late husband of 85 years handled their finances, she now lives on her pension and Social Security. Glover said she's found fulfilment throughout by giving money not saved for bills to her church and various charities.

"I don't think about inheriting or getting money and what I'm going to do with it," Glover, 107, said. "I think of who I'm going to give it to."

Staying busy and active

The centenarians stressed that they always had something to do and had something to strive toward, from writing a book to volunteering part-time. All discussed challenges such as outliving loved ones, and they've all discovered purpose through staying active.

Barbara Fleischman, 101, still invites friends over for meals, stays up to date on current events, and said she can't "just sit still." Fleischman, who spent her career volunteering with cultural institutions in New York, said the key to enjoying life a century in has been "making things better and more interesting," continuing to surround herself with people from all generations.

"I'm trying to learn something every day, and it's a very big challenge," Fleischman said.

Diane Volz, 102, spends hours each day writing her life story, which she hopes to share with younger generations. She spearheads a book club, reads newspapers daily, and stays on top of politics, not too different from her career in journalism. She also still dances in her bedroom, much like she did as a dancer for MGM — where she had a cameo in "Meet Me in St. Louis."

Weber packs his days with golf, swimming, and weight training — anything he can to "not sit in an armchair." After his wife's death 20 years ago, he committed to "get back into life again" instead of grieving, serving as the president of his area's Lions Club, driving to the grocery store, and sharing stories with others about his life.

After getting bored during the pandemic, he authored a memoir leading up to his 100th birthday about achieving a meaningful life, and he's starring in the upcoming documentary "Lessons From 100" shot by his grandson.

"You can't give up. You've got to fight and stay with it," Weber said.

Maintaining strong social circles

Though most of the centenarians said they've outlived their friends, many emphasized the importance of staying connected with family or seeking out younger friends and people searching for guidance.

Glover said she's coped with loss by seeking out connections at her church. Much like how she gave back to her church by teaching vacation bible school and serving as an organist, she said many give back to her. After her son died in February, she moved from California to North Carolina with her granddaughter and has committed to "starting a new life" at 107. She's adjusting to her new church and community, which has taken her in with open arms. She said younger people at her church call her "Auntie Helen."

Fleischman agreed that "If the community has been nice to you, you give back to the community." Fleischman said she's maintained strong social networks at her assisted living facility, regularly contacts people at museums and libraries to give talks, and acts as a support system to others in whatever way she can.

The key is to be "supportive, to listen, and to care," Fleischman said, adding she's found joy in surrounding herself with friends across generations.

For Weber, sometimes the quiet of his home is most fulfilling, acknowledging he wouldn't like being surrounded by strangers at a facility. His family often invites him to gatherings, while he's found connections at the Lions Club, delivering Thanksgiving baskets in recent years.

Weber said the reality of aging is being "the last one standing," adding that he's lost his good friends and that "time hangs heavy on your hands."

Both Weber and Volz stressed the importance of falling in love with something, whether it's a significant other, a career, or a life path. Volz said ignoring negative people and finding comfort in someone or something has driven her to stay happy.

'Thinking young'

Weber said his decision to "think young" has driven him to keep pushing at 101 — and act like he's much younger.

"Don't let the old man in," Weber said, adding he owns a black sweater with the phrase on it. He said it's empowered him to keep doing the physical and mental activities.

Though his muscles aren't like they used to be, he stressed feeling "like a million bucks" and refusing to adopt a "can't do this or can't do that" mentality has fueled him.

"I feel I'm very lucky and fortunate to be in good health and sound mind," Weber said. "Do I have some aches and pains? I sure do, but I don't talk about them and I don't let them run my life. I'm still in good enough health that I can still enjoy my rounds of golf."

Vaccaro added that she always focuses on what she'd "like to do tomorrow" instead of on the past. She still embraces being a mother as though she were in her 30s, and she's continued doing what she feels is right and authentic.

Glover wakes up each morning thinking as though she's "20 years younger," finding it "weird" she's outlived some of her loved ones. A "pleasant smile" goes a long way, she said, and she's embraced being as independent as she can to feel youthful. She still plays Scrabble with her grandchildren, tells knock-knock jokes to her friends, and starts every day with a donut.

This as-told-to essay is based on a conversation with Rich Colorado, 87, who retired on his 65th birthday. Colorado said he never touched stocks and never planned for his retirement, yet he remained frugal and now has over $1.3 million. Colorado still bowls three times a week and teaches chess in his California city. His words have been edited for length and clarity.

I never invested in stocks. I've been putting my money in CDs, probably at 4-5%. It just keeps growing without even trying. It's just amazing that I have so much because I didn't plan for it. I have about $750,000 in cash, and my home is worth $600,000.

I'm from El Salvador and moved in 1946. My first long-term job was working in a bowling alley in 1958. I didn't go to college. For 17 years, I worked in the bowling industry. Then one day, I went to work, and the bowling alley was padlocked for failing to pay taxes, so I had to give up the job.

I raised four sons with my wife, who worked for 41 years for Santa Rosa City Schools.

My next job of 27 years was as a scale technician, which I trained myself to do because I knew mechanics and I was analytical. I had walked into the office and said that I wanted to take a job. They called me and said to come on down to work for two weeks. And they kept me.

I started working as a Kitchenaid repairman, and then I progressed to working on machines at the supermarket. I ended up as a scale technician and took classes on how to do things electronically on the scales.

I retired in 2002. My boss called me into the office the day before I turned 65. He told me my job had gone away because the scales don't break down much anymore. I went home, typed up a retirement letter, and turned it in the next day.

A few years later, one of the employees asked if I could come back and work one or two days a week in the mornings. I said that if they didn't need me then, they don't need me now — I wasn't going to quit everything I was doing.

Staying busy in retirement

I've been bowling my whole life, and I bowl three times a week on Monday, Wednesday, and Friday. I'm slim, and I played soccer and taught it for 27 years. I have a national license from the United States Soccer Federation. I'm healthy because I don't smoke or drink.

My friends are all old, and I'm almost the oldest one there. There's one woman who is 96. When I retired and I walked in at 65, I looked at all these people and said, "Wow, look at all these old people." Now, they're all gone, and I'm the old one there.

I still teach chess and started playing in 1952. I taught chess at the city schools in Santa Rosa. I wanted to do it for free, but the schools insisted on paying me. My four boys all know how to play chess. I still teach children at the library every Wednesday.

I also took free classes at the junior college for retired seniors, such as HTML, and I took guitar lessons. I'm taking a few classes right now. I'm in a writing class, a movie class, and I took a piano class before I tripped and couldn't play anymore.

While I was first taking classes, my wife kept working. We didn't travel much, other than visiting San Diego. We never went abroad. My wife got dementia, and she stayed here in the house and died here. I was there when she took her last breath. I miss my wife. Once in a while, I look over on the couch, but she's not there.

I bought this home in 1969 for $18,200, and I've been here since then. In my neighborhood, there are about 200 houses, and there are only one or two people left from when I bought it in 1969. I want to die here. People don't plan to die, but I've got no choice — I'm getting closer.

Managing retirement finances

They always say that you need all this money to retire. I didn't plan for retirement. It just happened, and I can't tell anybody exactly how to do it. I was frugal, and so was my wife. I didn't pay for my sons to go to college. They took care of themselves. I tried to pay for one of them, and he said, "I made more than you've ever seen. Go spend your money on vacations."

They do have more money than I had when they were growing up. We used to use food stamps to feed ourselves. When we bought this house, my wife said, "We have four kids. We can't go around renting." She wanted me to get a better job elsewhere and send money back every month. I wouldn't do that, and I was willing to pick grapes nearby if I needed to.

We bought her last car in 2003, and she kept that car until she passed away, which only had 70,000 miles on it. I gave that to one of my granddaughters. My car that I had after I retired I bought in cash. It was a 2003 Scion. Somebody ran into me who got a DUI, and I bought another Scion, which I still have. It has 60,000 miles on it.

I didn't even know I had an IRA at the company. I didn't know I had a 401(k), but as soon as I did, I put 15% into it. They gave me a small IRA when I retired, and I left it in the bank. In 2008, when stocks were going down, I lost $15,000. I took my money, walked over to another bank that was just opening up, and they gave me 5% for putting my money in there. I left it there during the recession.

The banks call every few months about new CDs, and I tell them, "That's a lot of work. Just keep it in as long as it's over 5%." I also give to a couple of charities, and now I've got so many new charities asking me for money and have to tell some to take me off the list.

I now have a trust and will distribute my money to my grandchildren when I die. I'm going to do that for all seven of them. My next project that started this month is to rewrite my trust so that the distribution will be easier for people and nobody has to fight. I know that I can give $150,000 each to my children. Somebody in the family will have to live in my home because the taxes are only $600 a year.

I don't really know how to spend my money. Nobody tells me what to do with it. People say you need to have this much money to cover your retirement, but I have enough money, and I don't even touch it. I'm now giving my grandchildren $5,000 each.

Sharon Tagle thought her finances were in order when she retired seven years ago. However, she recently returned to work.

In December, the 68-year-old got a job at Home Depot as a cashier working 20 hours a week. She said her concerns about inflation and a failed home sale influenced her decision. She earns $15 hourly and expects to work for the next few months, longer if her financial conditions remain tight.

"I'm sorry that I left my job as soon as I did, but things were getting to me, and I just didn't want to work anymore," Tagle, who lives in Tampa, Florida, said. "I was not as frugal as I could have been. We're still having a good time, just not having it as much."

She retired from her role as a personal injury claims adjuster from an insurance company with about $250,000 in savings. She and her husband receive about $3,400 monthly in combined Social Security. The couple hoped to sell their home in Florida two years ago and move to a state with a lower cost of living, but they couldn't secure a buyer.

Tagle is one of dozens of older Americans who told Business Insider recently that they're either holding on to their jobs or unretiring because of economic uncertainty and pessimism about their financial futures. Those who are unretiring said they're nervous about the fate of Social Security, Medicaid, and other government benefits amid federal budget cuts. Others fear how their retirement savings and investments will fare as tariff policies continue to roil the stock market. This story is part of a series on older workers.

To be sure, returning to work is often out of the question for many older Americans. Geoffrey Sanzenbacher, a research fellow at the Center for Retirement Research at Boston College, said many older Americans couldn't return to work or had limited options because they worked physical jobs that they're no longer capable of doing. These workers often lacked employer-based retirement systems like 401(k)s, which hurt their retirement plans.

Uncertainty about Social Security and Medicaid has fueled some fears

Earlier in April, House Republicans voted to pass a GOP budget plan that included $880 billion in cuts for the House Energy and Commerce Committee over the next decade, whose main programs are Medicaid and Medicare. As part of reconciliation, GOP lawmakers are set to add details to the proposal, such as whether federal Medicaid funding would be reduced and by how much.

Trump has said that he will not cut Social Security benefits or touch Medicare. But the Social Security Administration has outlined plans to cut as many as 7,000 employees, which could increase wait times for recipients seeking assistance. Former SSA Commissioner Martin O'Malley, along with staff inside the agency, told BI that disruptions could lead to interrupted benefits.

While investors and economists have grown more concerned about a recession this year, they remain divided on whether it will happen. That hasn't eased some older Americans' fears, prompting some to reenter the workforce.

But for many older Americans, finding the perfect job may be out of the question. Amanda Clayman, a financial therapist, said many older job seekers have to deal with rejections from employers due to factors including ageism. She said people should be open to a wide variety of jobs, as any boost to their finances could be worthwhile.

"The goal may no longer be finding the right job or what the right job might be," Clayman said, adding older Americans should consider taking temporary or part-time positions even if they're not desirable.

Some are unretiring to start businesses

Diann Witherspoon, 72, said recent financial insecurities had pushed her to prepare to restart her fiber art and quilting business.

Witherspoon, who lives in Ohio, said she's always lived paycheck to paycheck, raising two special needs children and "working myself to death" to provide for them. She held accounting and property management jobs while sewing on the side. After back and knee surgeries, Witherspoon said there weren't many jobs she could do now.

She was laid off in 2017 the day she returned to her office after surgery, and her husband died of lung cancer a few years later. She shuttered her quilting company in December 2022 after a period of grief and had more back surgeries a year later.

She lives off half her husband's retirement income, which is $467 monthly, and $2,137 in monthly Social Security. It's enough to cover her $1,700 monthly house payment but not enough to have much left after other expenses. Her son, who lives with her, helps pay the bills.

Witherspoon said she's working to make new patterns to sell online and start teaching. She hopes to sell a few pieces a month and earn between $2,000 and $5,000, but she doesn't want to scale so large that she'll need employees.

"I just want to be able to sustain it myself so that we can survive, and I'd like to get something going so it just keeps producing income," Witherspoon said. "For the first time in 72 years living in this country, I am afraid."

Some retirees are struggling to find work

Moira MacLean, 69, retired as a social assistance case manager 2 ½ years ago, though she knew she would have to return to work at some point. The former lawyer, who lives in a community for older folks, left her position when she feared her company wouldn't let her work part time because she was fatigued.

MacLean, who lives in Washington, was getting by with savings and her $2,280 monthly Social Security payments, but with her money dwindling, she put herself back on the job market over the past few months in search of a similar role. She hasn't had luck yet, and she feels her age and time away from the office haven't helped her applications.

She also tried starting a third-party seller business for household products on Amazon, which put her into debt as the business didn't take off.

"There is zero room for investing anything differently than I already have," MacLean said of her long-term planning. "I live too close to the edge to do anything about that."

Pam Hovland, 70, is also struggling to find work and fears a recession would make it even more difficult.

"It scares me to death," Hovland said of the prospect of an economic downturn. "So I'd like to try to get a job before it all takes effect."

Hovland, who also lives in Washington, worked as a medical transcriber until around 2005 when a health issue put her in a coma for three months and forced her into retirement. She relied on disability income until around 2020, when her benefits converted to Social Security income — she said she gets a check for $1,099 monthly.

But by 2022, Hovland began struggling to pay the bills and, at times, afford birthday cards for her grandchildren. While she was able to reduce her rent through a Department of Housing and Urban Development program, she's still searching for customer service or fast food roles.

"I desperately need to get back to work," she said, "but because I didn't build up enough money when I became disabled, I'm very much scraping by."

• Tromsø, Norway, hosts the world's northernmost McDonald's, which draws plenty of tourists.
• The Tromsø McDonald's had some unique items and a spacious interior.
• The menu and decor, though, were similar to any other McDonald's in the US.

Nestled into the side of a desolate, snow-capped mountain, its servers wearing fur-lined uniforms and serving up reindeer burgers — that's what you might envision when you hear the words "the world's northernmost McDonald's."

The reality is a bit less exciting.

On a recent visit to Tromsø, Norway — home to the world's most northern McDonald's — I learned that the restaurant has a menu, ambiance, and service similar to a McDonald's I could visit in the US.

Still, a trip to Tromsø, the northernmost city in the world, would not have been complete without crossing off a bunch of northernmost feats. The Tromsø area, which has about 79,000 residents, is located well above the Arctic Circle at nearly 70 degrees north latitude, higher than most of Canada, Russia, and Greenland.

Before the Tromsø location opened in 2024, the world's northernmost McDonald's was in Rovaniemi, a city along the Arctic Circle in Finland that hosts the Santa Claus Village. Upon its opening in 1997, Jim Cantalupo, then McDonald's International's president and CEO, quipped, "Since this restaurant is the closest to the North Pole, we hope this will become Santa's favorite neighborhood restaurant."

The title had previously belonged to Murmansk, a Russian city that lost its McDonald's location in 2022 amid the invasion of Ukraine.

The Tromsø McDonald's seats 140 guests and is on the first floor of an office building

The Tromsø location opened as part of McDonald's initiative to add more McDonald's locations in Arctic Norway. At the time of its opening, McDonald's said it aimed to hire about 60 staff and would be open between 18 and 21 hours a day.

As someone who often seeks out hole-in-the-wall restaurants and local joints, eating at McDonald's as my first meal in Norway didn't sit right. (Note: I still got my reindeer burger, whale carpaccio, and elk salami at other points in the trip.)

Still, how many people could say they've eaten here?

Turns out, quite a few, as when I visited at noon, it was packed with tourists navigating the snowy streets and taking photos of the many signs indicating it's "The northernmost McDonald's in the world."

I also saw a few locals stopping in for a workday lunch, including some students from the local university.

It took a few minutes to find an open screen to order — nobody was ordering at the counter — and five minutes to secure a table for five. Service was fast, and some staff delivered food to tables directly.

The interior was spacious, with about 30 or so tables, but it did not scream "Arctic" to me. I thought it resembled other McDonald's we stopped at in Scandinavia.

The main dining room was bright, lit by bars of white lights, while its walls and the ceiling were a light brown.

The 'Happy Fish' and 'McFeast' were menu items I hadn't seen before

With all the fanfare about the location, I expected the menu to have some location-specific items. While there were plenty of options you can't find in the US, pretty much all of them are on the menus of other Norwegian McDonald's locations.

Still, I was amused by items such as the homestyle hot chipotle burger, the "big tasty bacon" sandwich, the big chicken salsa, and the McFeast. Some of the sides were also compelling, including chili cheese tops, hot wings, and sweet potato fries, coupled with various spicy and sweet dips.

Given the location, I also expected more seafood options. They only had the fish McFeast — featuring lettuce, cheese, tomato, onions, pickles, and mayonnaise — a filet-o-fish, and a small fish sandwich they called "Happy Fish."

There was a small vegetarian menu with a few sandwiches, a wrap, and a bulgar salad. Breakfast items felt similar overall to those in the US, with the exception of a McToast, a round ham-and-cheese toasted sandwich.

The drinks and dessert sections were the most distinct compared to a US McDonald's. McFlurry flavors included cookie dough and regional chocolate candies like the almond-caramel-filled Daim and Non Stop, which are similar to M&Ms. I also enjoyed seeing cinnamon rolls, Oreo muffins, and different types of macarons and donuts.

Drinks that caught my eye, some of which were prepared at a different counter, included a banana milkshake, a Banoffee shake, various types of tea, and coffee varieties including a caramel latte and flat white.

Prices were in line with what I would expect: My McFeast, fries, and a drink were about $14, while my Daim McFlurry was about $3.50.

The food was good but similar to what I would expect in the US

The food tasted in line with any other McDonald's I've been to in the US — the quality felt slightly better, though that could've been because of the novelty of the experience. The portions seemed about the same as the US.

The Big Mac BLT was an interesting combination that worked well, as the bacon wasn't too overpowering. I thought the chili cheese tops, a crunchy cheese nugget with chili pieces, were very yummy, slightly spicy, and quite filling.

The McFlurry was excellent, though, and I loved the crunch from the chocolatey Daim.

Only one feature really set this McDonald's apart from other locations

The one distinguishing factor at this McDonald's was the postcards they sold that read "Welcome to the northernmost McDonald's in the World," featuring a golden arch jutting into the globe above Tromsø.

I felt the same way about the world's northernmost Burger King, which had slightly more locals but overall had a similar menu to any other Burger King and a very standard interior.

The rest of our meals on the trip were much more exciting — we tried reindeer burgers and reindeer hotdogs at other places in town, whale in a fishing village a few hours away, Norwegian Chinese food, pizza that wasn't significantly worse than a New York slice, and a surprising Eritrean meal.

Still, the McDonald's will likely stick with me for a while, even if it felt gimmicky.

Sure, Tromsø is in many ways a culinary gem, featuring dozens of higher-end restaurants serving fine steaks and seafood, but for a cheaper lunch with a bit of novelty, I'd recommend stopping by at least for a McFlurry and picking up a postcard … and maybe saving your appetite for a reindeer hot dog down the street.

• Some older Americans are working past 80 to supplement Social Security and cover their expenses.
• Rising inflation and health issues are driving some older workers to seek part-time jobs.
• The number of workers 80 and older increased by 25% since 2022, per Gusto, sometimes in risky jobs.

Jim Uhrinyak, 82, doesn't know if he'll ever have enough money to retire.

Uhrinyak is gearing up to work part time as a driver inspector at the traffic control company his son manages. He could have to work in areas where the traffic poses safety hazards. The Navy veteran said the extra money he makes will help him afford groceries, medications, and the bills he shares with his son, with whom he lives.

"I never saved for retirement," said Uhrinyak, who lives in Arizona. "It is miserable at an older age not to have funds to enjoy the last years of your life."

Uhrinyak is one of dozens of Americans in their 80s who spoke to Business Insider about needing to work well past retirement age. Many said they need income to supplement their Social Security checks, while others said a health scare, job loss, or rising inflation have eaten into the savings they hoped would carry them through retirement. This story is part of an ongoing series on older workers.

An analysis by Gusto, a small-business payment and HR platform, found that since 2022, the number of workers 80 and older has increased by about 25%, compared to 4% growth in the overall workforce. To be sure, that number represents a fraction of the workforce — about one in 1,000 US workers. The analysis was based on payroll records from over 400,000 small business customers.

"The economy and current prices are in a place where they're really forcing folks to reconsider or even rejoin the labor force," Nich Tremper, a senior economist at Gusto, said. "These are folks who are just likely looking to earn a little bit extra to have their money last as long as the month does."

Navigating work amid health challenges

Some workers in their 80s and older, including Uhrinyak, said they've taken on new jobs amid health issues, as they had few other options to stay afloat financially.

In February, Uhrinyak resigned from his role as a construction coordinator because of side effects he experienced from taking Ozempic. He said working with his son will make his transition back to the workforce easier.

Uhrinyak said the $800 a week he'll earn from the driver inspector job will supplement his $2,800 a month Social Security payment. He spends roughly $350 a month on medications — including $120 for a blood thinner — which, along with various medical expenses, has hurt his financial planning.

"The worry of having funds just to survive is sometimes overwhelming," Uhrinyak said. He has about $6,000 in total savings, he said.

Some older Americans have told BI that the only jobs they could find have put them at potential risk of injury, including jobs where they have to stand for hours at a time or lift heavy items. Some said their jobs have taken a toll on their bodies or mental health.

Monique Morrissey, a senior economist at the Economic Policy Institute who researches Social Security, found that older workers' jobs fall into, on average, 2.6 of six dangerous work categories, including physical demands and high pressure. She told BI that many older workers approaching or past retirement age have had to take blue-collar jobs that are lower-paying and riskier.

"You have slightly less dangerous jobs for older workers than for prime-age workers, but the dangers that they face are much worse," Morrissey said.

Diane Knaus, 82, broke her ankle in September, and she temporarily stopped working as a freelance writer to focus on her recovery. After a couple of months with limited income, Knaus said she began thinking about how to generate some additional cash. She's about to start a desk job for a trucking company.

"I'm on my Social Security, but that's not much," said Knaus, who lives near Annapolis, Maryland. "I'm just taking life year by year."

A tough job market for older Americans

Dozens of workers in their 60s and older told BI this year that finding a well-paying job feels nearly impossible amid a tight job market and reduced white-collar hiring. It's leading many to seek blue-collar roles and other part-time positions that pay a bit more than minimum wage.

Pamela Levier, 81, recently resigned from her full-time service department job at the car dealership where she'd worked since 2013. While she has four pensions tied to her and her late husband, she said they're "not large amounts" and that she's not in a position to retire.

The dealership was sold, and the new owner was expected to make changes that Levier felt would negatively affect her work experience and could put her job at risk. She said she's been looking for positions at other car dealerships but hasn't had much luck. She's hoping to find a job to supplement her $2,100 monthly Social Security check.

"I live paycheck to paycheck," said Levier, who lives in the Tampa area. "No savings, no stocks, or bonds."

While she's in need of additional income, Levier said working would also help her stay busy.

"I don't want to be sitting around just not doing anything," she said. "I enjoy being out and about and learning things. It helps me stay young."

Working partly for the fun of it

To be sure, some older Americans who need work to supplement Social Security said financial stability and fulfillment are their main motivators.

Lawrence Dugan, 80, said he isn't desperate for the wages he earns and could live minimally on his savings and retirement income. While he and his wife value working, Dugan said they have some concerns, including knowing they could be "screwed" if an economic disaster comes.

"Working is probably 30% to 35% financial to get extras in life," said Dugan, who lives in Grand Rapids, Michigan.

Dugan said he works as a psychology consultant and earns roughly $3,000 monthly. He also sells paintings for extra income. Meanwhile, his wife works 15 to 20 hours a week as a home-care agency nurse. Dugan receives about $2,800 monthly in Social Security, while his wife gets about $2,100. Their combined net worth is less than $250,000.

"I knew when I was 25 I wouldn't retire and would die with my boots on," Dugan said. But he values work because it keeps him feeling younger. "Unless you keep using your brain, you use it or lose it."

• Americans are dealing with a palpable sense of uncertainty about the economy.
• Most react to money fears in three ways: fight, flight, or freeze.
• Which are you? Identifying your reaction can help regain a sense of control when anxiety strikes.

Job applications, panic buying, and tuning out the news: Which one's closest to your reaction to economic anxiety?

"We want the economy to keep rolling smoothly in the background while we live our lives," Joseph Coughlin, director of the Massachusetts Institute of Technology AgeLab told Business Insider. "So when we see this great uncertainty, it only adds to the stress that we're already trying to manage."

Coughlin said that many people cope in three ways: fight, flight, or freeze. In other words, Americans' money anxiety mirrors their natural reactions to other fears.

In recent months, BI has heard from dozens of Americans who are dealing with uncertainty regardless of their age, financial situation, or political affiliation.

The US isn't in a recession yet, but most of the people we spoke to are worried about short-term price increases, their student loan payments, or their 401(k)s. Some fear a more dire scenario of job losses and a downturn in the months to come.

Amid flip-flopping trade policies, stock market fluctuations, and DOGE cuts, consumer sentiment fell again in April, reaching its second-lowest level since 1952. Consumer spending trends indicate households are feeling the heat of high prices and tariffs.

If you feel powerless in the current financial environment, focus on what you can control and be aware of your own natural fear reaction, said Bradley Klontz, psychologist and professor at Creighton University's business school. He added that the US economy has faced downturns before and always recovers.

"We have a fight, flight, freeze response," Klontz said. "You need to point it in the right direction."

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People in 'fight' mode are busy making plans

Those with a fight mentality toward uncertainty are working hard to make plans. As Coughlin said, they are likely calling their financial advisors, reading news articles, saving extra money, and doing anything else they can to prepare for a potential downturn.

Robert Kistler, 71, retired a decade ago from his career as a product engineer. He and his wife built a seven-figure net worth and strong nest egg, but they're working to dial back their spending. With the long-term future of the Social Security trust fund in question and current staffing turmoil at the Social Security Administration, Kistler said they aren't confident benefits will support them as they age.

"It turns out our annual spending is roughly 20-25% more than in our plan — I am certain this is going to impact our retirement plan confidence level somewhat," Kistler said, adding that he met with his financial advisor this month to make a plan.

Similarly, 65-year-old professor Gail Lisenbard recently paid off her car and started grooming her mini golden doodle at home to save more money. She hopes to retire in the next few months and said she's carefully planned her nest egg, but is now concerned about rising prices.

Younger Americans are taking action to protect their finances, too. Millennial mom Jen Miller had planned to buy a new car before May because her family has a third baby on the way, and they need more room. But, concerned about new tariffs on auto imports, she moved up her timeline because she's worried US car inventory will decline: "We certainly felt spurred into action," she said.

Haylee Bachman, a 30-year-old mother of three near Seattle, said her family lives on a low income and receives some government aid, but their budget has been especially tight lately. Her fiancé's job in car manufacturing became less stable in recent months because the industry is in turmoil with the auto tariffs.

Bachman said she's teaching herself to bake bread, cinnamon rolls, and other kitchen staples from scratch because it's cheaper and has visited food banks to pick up groceries. She's trying to save enough to afford rent and pay for activities like soccer and tumbling that make her kids happy.

"I know that things could get very bad for us since we are low-income and a one-income household," she said. "I'm not sure what the future holds, so I'm just trying to make those tiny changes."

People with a 'flight' reaction make snap financial decisions

A "flight" reaction to economic turmoil can take a few different forms. To protect their finances, Coughlin and Klontz said people with this response are likely panic buying or pulling their investments out of the stock market — snap financial decisions that may not be the wisest, but make people feel better in the moment. Coughlin refers to it as the "I need to get out of here" feeling.

BI has heard from teachers cashing out their pensions, families with tariff nerves overstocking their pantries, and investors primed to sell at the first sign of trouble. Some Americans are considering literal 'flight' — they're moving to other states or countries to escape high costs or policies they disagree with. Others are anxiously stepping back from newspapers or social media to tune it all out.

Klontz said when people get scared, "our survival brain tends to take over."

"Our instincts are great if we're being chased by a rabid dog," Klontz said, "but our instincts are not good when it comes to investing and spending." He advised people to avoid major or impulsive purchases where possible.

Still, Olivia Iverson, 28, doesn't regret choosing to "panic buy" a new MacBook laptop in early April. She pulled the trigger because many laptops are imported from China, and tariffs are likely to raise prices. Trump has since announced a pause on tariffs on electronics for now.

"A laptop is a one-time purchase," Iverson said, adding, "there's some stuff people panic buy that you're going to have to keep buying week to week, even if prices of these items change."

A flight response can lead to moves and major purchases, but it can also be a much-needed emotional break. As a busy mom balancing a household budget, Bachman said she often turns off the news. She said it can be stressful to constantly be on alert for changes in politics or the economy that might affect her family.

"I try to take care of myself as much as possible, just because I can't be the best mom without doing that," she said. "I do self-care, skincare, like face masks, or I sit in silence. That's a big one. I just sit in silence, in the dark sometimes, and just relax."

People who 'freeze' don't know what to do with uncertainty

The most common reaction to economic uncertainty is freezing, Coughlin said. Freezers are looking at the economy — the tariffs, stock ups-and-downs, the tough white-collar job market, and DOGE cuts — and they don't know what to do.

The slow job market has left Christopher Smith's financial plans on ice. The 41-year-old has been looking for a job for about two years, but hasn't found the right fit. He's trying to stay optimistic, but he's "admittedly terrified" of what will happen to his employment prospects if there's a recession. He's taken on a roommate to help with bills.

"I am begging the universe to send me a job ASAP," he said. "I really hoped to be working by now, and I am slowly drowning under my finances."

Michael Salvatore, similarly, isn't sure what to do next. He operates several bars and coffee shops in Chicago. His businesses are at risk of higher costs on everything from eggs to coffee beans. He said he's put all kinds of decisions on hold, including hiring and opening a new location.

"Especially as a small-business owner, the unknown makes it impossible to have a vision that you can execute on," he said, adding, "I'd rather the market crash and know that, 'hey, we're on a level playing field."

Rebecca Walriven-Lawson, 74, is also feeling stuck. She recently lost Medicaid because her Social Security cost-of-living increase put her over the qualification threshold. Without health insurance, she can't afford the surgery she needs to walk comfortably. She isn't sure what to do next.

"There's nothing for any of us to do but wait," she said.

• Rebecca Walriven-Lawson, 74, needs a job to afford back surgery.
• She lost Medicaid due to income limits and relies solely on Social Security for necessary expenses.
• She is one of many older Americans who have told BI they can't afford to live on Social Security.

At 74, Rebecca Walriven-Lawson needs back surgery to properly walk again. But first, she must get a part-time job so she can pay for the procedure.

"One more raise in my rent is going to put me out on the street," said Walriven-Lawson, who lives in Cincinnati with her adult son. "I am fighting a losing battle trying to stay afloat."

Walriven-Lawson lost her Medicaid coverage last April and was told she received too much money to qualify. Her only income is $2,065 monthly in Social Security and survivor benefits, which barely covers her essential living expenses, she said.

Walriven-Lawson's story echoes the narratives of hundreds of older retirees that Business Insider has interviewed. Many are swept up in a retirement crisis as rising costs stretch how much their Social Security can cover.

Health problems compound financial insecurity

Walriven-Lawson started working in factories when she was 18, earning $1.60 an hour in 1968. She built a middle-class life, moving up from service roles as a waitress and truck driver to a travel agent. But then her health problems began stacking up in her late 40s.

Walriven-Lawson was diagnosed with various chronic illnesses like fibromyalgia, degenerative disc disease in her spine, and severe osteoarthritis in both hands. She had to stop working in 2000.

Now, Walriven-Lawson has a collapsed disc in her spine that limits her mobility and needs an X-ray checkup on her hands, as she had undergone a bilateral thumb joint removal. Without Medicaid coverage, she can't afford the necessary treatment, so she's trying to find work to cover the costs of the procedures.

With her son struggling to find employment, her Social Security checks pay for their one-bedroom apartment, where rent is $835 a month plus $125 in electric utility bills. She also has to pay for doctors' appointments and prescriptions. Money is stretched thin, and sometimes they could only afford peanut butter jelly sandwiches to eat, she said.

"I have slept on a couch for three years, but cannot afford two bedrooms," said Walriven-Lawson. "I have no food. No money. Unpaid bills, no car."

Holding on to hope

Walriven-Lawson feels anxious looking at the road ahead but isn't ready to give up. Her first initiative is fighting to restore her Medicaid benefits so she can address her health concerns, she said.

"Of most importance is getting my benefits back so I can pay for my doctors and medicine," Walriven-Lawson said. "That would put approximately $400 back into my budget."

Once she's more financially stable, she said it will free up her energy to focus on finding a job. She hopes that by landing a new position, she'll be able to pay off her bills, receive her delayed health treatments, improve her credit score, and save toward a down payment on a house.

"It is a terrible blow to one's ego to have to beg for help," she said. "I have to go down with a fight. It's the way I was raised, and the way I have lived this long."

• Bill Bengel, a Michigan retiree, retired 24 years ago and lived at a lake house for 20 years.
• Bengel enjoyed a fulfilling retirement after decades of careful financial planning.
• He deems his retirement successful by maintaining his lifestyle and not relying on government income.

This as-told-to essay is based on a conversation with Bill Bengel, 84, a Michigan retiree who stopped working 24 years ago. After spending most of his career at General Motors, Bengel retired and lived the next two decades at a lake house in northern Michigan and in Florida. However, after developing a vascular disease, he had his left leg amputated two years ago, and he's learned to reevaluate his retirement goals. His words have been edited for length and clarity.

I tell my grandchildren that joy in retirement isn't a given. You've got to plan for your retirement starting with the first paycheck you get. There are sacrifices you have to make, but you also have to hope your health holds up. I did go through a bout of colon cancer, but it was detected very early.

I started working in the peppermint fields at 10 years old in central Michigan. I got my first Social Security number at 14 working in a bowling alley. After high school, I volunteered for the military. I went to Michigan State, got married, and completed my degree in business education with a minor in accounting and economics.

I was going to pursue a career in education, but I had an opportunity to join General Motors in 1963. I made sure replacement parts were delivered on schedule but moved through the organization and eventually became the material director for the Oldsmobile division in 1977.

When I joined General Motors, from the first opportunity I had for a wage or salary increase, I always took 10% of whatever the increase was and put that toward my retirement, whether it was a cost-of-living adjustment or merit promotion.

I really enjoyed my career, but it was very demanding. It wasn't a 40-hour-a-week job: It was a 24/7 job. My typical day was to arrive at 7 a.m. and hopefully get out of the office by 5:30 p.m. There were usually Saturdays involved for five or six hours.

We enjoyed a lakefront property in northern Michigan but didn't get to use it very much while I was working. It became our permanent residence in 2000 when I retired. I wasn't sure if I was going to live two years or 10 years — you know not the day or the hour.

A year before I retired, I knew I couldn't just golf and fish and travel, so I took night classes at the local community college on woodworking. I figured this would help us transition to our northern Michigan home.

A fulfilling retirement not much different than before

I don't think there's anything my wife and I would have done differently. We jointly planned for retirement. My wife was the homemaker for our three children until they got out of high school. She took a job as a hobby doing crafts. I retired with $1.3 million at retirement, and it's $2.1 million today. I took Social Security early because of a little blip with my heart.

Our goal was that when we did retire, we wouldn't change our lifestyle. The transition from work to retirement turned out just great. We had no credit card interest or any debt, and that's because, throughout our lives, we didn't go to the best restaurants in town and didn't do extravagant things. Still, we didn't penalize ourselves either.

When we transitioned our vacation home into our permanent home, I had all these opportunities to be busy, whether it was golf, woodworking, or walking. I had offers to go back as a consultant, but I decided not to. It was such a great joy on the first day of retirement not to answer 40 emails or voicemails.

Since I retired, my income has been greater every year than what I made when I was working. We're very comfortable. I didn't get caught up in any bad investments. I had good, solid investment advice, and Fidelity has managed all of my investments since I retired. We have not touched any of my 401(k) in over 20 years. I followed the market closely, and whenever I turned over property, I made out pretty well.

Other than a small percentage of increases to Social Security, my retirement from GM hasn't changed one penny since I retired. My income increase is all from Fidelity. However, I'm not very confident about the future for people who didn't plan.

When I retired, we did exactly what we wanted to do. We've been to Europe several times. We've taken many cruises, including to Alaska. We went to Florida between January and March for 20 years. I belonged to a very nice golf course and country club, but it wasn't exclusive or highly expensive. I also coached youth basketball.

Adjusting expectations after a health crisis

We stayed in northern Michigan until two years ago when I had a major health issue from a vascular disease, causing a partial amputation of my left leg in November 2022. I remember I laid there for 31 days just thinking, what am I going to do when I get out of here? My wife was my absolute strength and helped me through.

We moved back to central Michigan because we had family here. I couldn't enjoy all the amenities. If you're in Michigan from January to March, you may get bored.

My life changed drastically because of the amputation. If I hadn't had it, I would still be playing golf and doing all the physical things I always had. We would still be going to Florida for three months. I'm restricted because I can't walk without assistance. I either need a cane or a walker.

I now read all the news for about an hour or so, and I do physical therapy two to three times a week. We have access to a gym. We do a lot with our family because we have eight grandkids and 14 great-grandkids, and they're all within 70 miles — some within three miles. We still do pretty much what we want.

I want to get back into a position where we can do more traveling, but I don't want to be a pain or problem for someone else. I'm trying to avoid boredom. We just purchased a new vehicle last month, only because I wanted something different to manage my amputation.

Advice to younger Americans

Number one, when you're young, you need to think financially about where you want to be later in life. Do you want to have to work part-time when you retire? You can't count on the government for anything. Life is not free. The future is not free. This probably comes from my upbringing, where our family members all had to work jobs when we were young.

The second thing is you've got to keep yourself in physical shape. I was a runner right up to the day I had my amputation. You can't give up, and if you do, you're done. I'm still trying to learn how to walk with a cane.

Third, if you hang around negative people, you're going to become negative, and that's not our lifestyle. We ran into lots of people in our careers, and we accentuated the positive. Still, I knew too many guys in my younger years whose whole life was strictly their job. When you do that, you're physically and mentally going to shut down.

• Some Americans in their 80s are working past retirement age, but not because they need the money.
• They told BI their jobs bring them fulfillment and social connections.
• The number of US workers over 80 has grown 24% since 2022, but is still a small amount.

As he approaches 90, Al Faber often works 50-hour weeks. But he's not doing it for the money.

"I'm 87 going on 67," said Faber, who hopes to work into his 90s. "Being a resource for as many people as you can be a resource for, including family and friends, is why I work."

Faber is one of dozens of Americans in their 80s who told Business Insider that they're working past retirement age for fulfillment and social connections — not because they need the money. Some of the people BI spoke with said they're still running companies they created decades ago, while others remain at a business or in an industry they love. The money they make has contributed to vacations or emergency medical expenses — but isn't the driving force keeping them employed.

Workers in their 80s and 90s represent a sliver of the US workforce, but their numbers have grown in recent years. Americans in their 80s and 90s account for about one in 1,000 of all US workers, per an analysis by the small business payroll and HR platform Gusto. The analysis was based on payroll records from over 400,000 small business customers.

However, the number of workers ages 80 and older has increased by 24% between January 2022 and February of this year. In comparison, total employment grew about 4% in that same time period.

Nich Tremper, a senior economist at Gusto, said this growth has likely been driven by two factors: People are living longer and the cost of living has risen in recent years.

"Things are still really expensive for folks who have retired," he said. "They might be considering going back into the workforce to start earning a little bit of extra money."

While the older Americans BI spoke to don't fall into this category, many people work past the retirement age of 66 or 67 due to financial reasons. Some previously told BI that a health scare or job loss ate into the savings that they hoped would carry them through retirement — and that their Social Security checks aren't enough to live on.

Tremper said workers 80 and older are most likely employed in education and health services. He added that the most employment growth since 2022 in this 80s and older cohort has come in retail and wholesale trade, where he thinks many people have found part-time work. Additionally, 85% of workers over the age of 80 were employed part-time, per Gusto.

Finding joy through the social connections of work

Faber, who lives in the Boston area, said that every day brings new conversations and lessons that improve his quality of life.

For most of his career, Faber worked in public accounting and held management positions in development counseling. In his 70s, Faber founded the consulting organization Alan Faber Growth Strategies and still runs it but works shorter hours these days.

Faber said he values meeting people face-to-face and remains physically strong by lifting weights and running. Some days are longer and more stressful than others, but Faber said regular interactions keep him fresh.

"If it was strictly for money, I wouldn't be doing a lot of the pro bono work," Faber said. "I see people who are 60 and 70 walking around like they're 10 years older than me not doing anything, not interacting with people, and it's sad."

Helping people is one of the main reasons Charles Mango is still working. He's been a retinal specialist for 53 years and works five days a week.

"I could retire tomorrow if I wanted to," said the 82-year-old, who's based in Syracuse, New York. "I don't really have to work."

Mango said he continues to work because it keeps him busy and he loves his job — in particular, talking with and caring for patients. He's cut back on performing major surgeries in hospitals since the pandemic but will do minor surgeries in his office.

"As long as my health allows, I'm going to continue," he said. "I have no reason to stop."

Passion for a business can make it difficult to stop working

Andrea Hutchinson doesn't want to stop working at the restaurant where she's devoted the last 40 years of her career.

The 82-year-old works about five hours a day, twice a week, as a director of operations at Pierce's Pitt Bar-B-Que in Williamsburg, Virginia. She's held different roles at the restaurant and said she's seen it go through ups and downs. But her commitment to its success has, at times, been an "obsession."

"The friendships, the activity, keeping myself busy, also the pride I have in what we have been able to do," she said. "That's a lot to give up."

Hutchinson said if her restaurant job ended, she doubts she'd look for work elsewhere.

"If you have someplace you can go where you feel needed and people listen to you, it's wonderful," she said.

Jay Crisford, 83, is also deeply invested in a business — one he started in 1993. Crisford, who's based in the Dallas area, continues to run Front Desk Office Furniture, an eight-person company that sells new and used furniture for professional settings.

He said he's gearing up for a "pre-retirement," which would mean fewer hours at work and more leisure time, but doesn't think he'll ever stop working.

When people tell him he should retire, Crisford replies, "I'm retired on the weekends." Crisford said he works to remain social and continue hitting professional and personal goals. He added that he has too many connections and deep knowledge of the industry to call it quits.

"I don't know what age has to do with retirement, and I think there's a lot of people who shouldn't be working if they don't enjoy it," he said.

• House Republicans moved forward on President Donald Trump's sweeping immigration, energy, and tax cut plan.
• Their plan could lead to significant cuts to Medicaid.
• GOP lawmakers will now have to flesh out their proposal, including potential cuts to programs.

House Republicans on Thursday voted to pass a GOP-budget plan that could lead to massive cuts to Medicaid after President Donald Trump leaned on a handful of conservative holdouts.

The final vote was 216 to 214. The budget resolution, which requires Senate committees to identify spending cuts totaling a low floor of $4 billion, includes controversial language that calls for the House Energy and Commerce Committee to cut $880 billion in programs it oversees over the next decade. Speaking alongside Senate Majority Leader John Thune, Speaker Mike Johnson said Republicans want to find at least $1.5 trillion in cuts. Johnson pulled a vote on the legislation Wednesday evening amid uncertainty that it would pass.

Before Thursday's vote, Johnson held a joint news conference with Thune. The pair sought to reassure House conservatives that the GOP will cut significant spending in addition to tax cuts.

The budget plan is the next step in unlocking the special fast-track power, known as reconciliation, that Republicans are using to ram Trump's "big, beautiful bill" through Congress. GOP lawmakers will now have to fill in the details of their sweeping proposal, including whether they will cut Medicaid and if so by how much.

Johnson and GOP leaders have repeatedly stressed that their bill does not explicitly cut Medicaid, a healthcare program for millions of disabled and low-income Americans. However, Medicaid will likely get cut by or near $880 billion over a decade, as Medicaid and Medicare, which Trump has pledged not to cut, comprise most of the committee's budget. The federal government picks up the bulk of the tab for Medicaid spending. As of 2023, the federal share was about 72%.

Three Senate Republicans, Sens. Josh Hawley, Lisa Murkowski, and Susan Collins, joined Democrats in an unsuccessful effort to strip that language out of the plan before it passed their chamber.

Republicans will likely have no choice but to slash the program to reach the $880 billion in required cuts, much of which could hit Medicaid expansion. Failing to meet the spending target would risk the sweeping policy bill losing its special procedure power. If that were to happen, Republicans wouldn't be able to ram their bill through the narrowly controlled Senate where Democrats can use the filibuster to stop most other legislation.

Some Republicans have expressed uneasiness about potential Medicaid cuts. Hawley, a Trump ally, represents Missouri, where 20.3% of residents are Medicaid recipients. He previously told reporters that it was "a big concern" if the legislation would slash the healthcare program. Hawley said Trump shared his views. The president previously said he would "love and cherish" Medicaid.

About 23.3% of all Americans, or over 79 million, receive either Medicaid or the related Children's Health Insurance Program, a Business Insider analysis showed using July 2024 population estimates and October 2024 Medicaid enrollment data. States including New Mexico, California, and New York have over a third of residents on Medicaid, the analysis found. Nearly all states have at least 10% of residents on Medicaid or CHIP.

Missouri, Oklahoma, and South Dakota all mandate in their state constitutions that they participate in Medicaid expansion.

If Medicaid does get cut, some Republican leaders have suggested adopting per-capita Medicaid caps to limit how much federal funding an enrollee could receive, which could save as much as $900 billion.

Some have mulled adding Medicaid work requirements, while others have proposed cutting Federal Medical Assistance Percentages, the federal government's Medicaid spending share per state. Some critics have further argued that recipients can secure insurance from elsewhere, including from work.

• Some older Americans are worried about what announced cuts to the SSA could mean for their benefits.
• Earlier this year, SSA said it would trim staff by 7,000 and close six out of 10 regional offices.
• Some fear that if a check is late, they won't be able to get help due to the cuts.

In the last two months, Moira MacLean has stopped eating out, paused making bigger purchases, and started searching for a part-time job.

MacLean, 69, is one of many older Americans who are scared about what announced cuts to the Social Security Administration could mean for their benefits and access to resources. Several told Business Insider they're making plans and adjusting their spending, just in case.

"All I can do is cross my fingers and hope," MacLean said. The Washington resident added that her savings are dwindling and she relies on her $2,280 monthly in Social Security after Medicare deductions. "It's really nerve-racking."

The SSA said it would cut about 7,000 staff members and close six of its 10 regional offices as the Trump administration and DOGE have announced widespread federal cost-cutting measures. President Donald Trump said that Social Security benefits would not be touched amid these changes, but 11 older Americans told Business Insider they're worried the cuts could result in delayed payments or inadequate assistance.

Since these changes were announced, the SSA website has had lengthy outages that have locked customers out of their accounts, and wait times for the 800 number have skyrocketed. The older Americans BI spoke with said they're concerned that if a payment is late or if they receive the incorrect amount, they won't be able to get the necessary help due to these issues.

"Any American receiving Social Security benefits will continue to receive them," Karoline Leavitt, White House Press Secretary, told Business Insider in a statement. The SSA didn't respond to a request for comment.

Rob Williams, managing director of financial planning, retirement income, and wealth management at Charles Schwab, said older Americans should not make major financial decisions based solely on emotions.

"There are always news events, market dips, concerns about healthcare costs, and other issues that come up and that worry older Americans," Williams said.

Some are reducing spending and looking for more income

MacLean has dealt with Social Security frustrations over the last few months, including being unable to log into her benefits account and struggling to get customer assistance. She retired two years ago but in light of the recent changes to the SSA, she's looking to reenter the workforce.

Dinah Buck, 67, is also casually looking at the job market. She retired seven years ago on disability from a three-decade career as a pharmaceutical sales representative. She receives over $3,000 in Social Security monthly after Medicare deductions and a retirement annuity but isn't panicking.

"I've started to feel more confident in my ability to manage my financial life after going through so many ups and downs the last few years," said Buck, referring to an expensive divorce and selling a home at a loss.

Diana Bill Jordan, 77, said there's little she can do to safeguard her finances other than limiting spending and continuing to work making and selling perfume. She added any shifts to her benefits could be disastrous for her family — she's already at risk of losing her home.

Bill Jordan, who lives in Texas, gets $670 monthly in Social Security, while her husband receives about $1,200.

"We're already in deep trouble, and if our Social Security is delayed, we'd be the faceless homeless folks in the woods," Bill Jordan said.

Some are putting dreams on pause

For some older Americans, the discourse surrounding Social Security is pushing them to delay large purchases or seek family assistance.

Kathy Heller, 67, said her dreams of moving from her studio apartment to a duplex may be crushed. While she's concerned about her Social Security checks, she's also worried that falling stock prices and rising home values could set her back.

"I've been wanting to move for the last couple of years, and I just can't now," said Heller, who works as a real estate agent and lives in Pennsylvania. "Everything's changed."

Heller, who also receives Social Security survivor benefits, added that, in February, she waited four hours to speak with an SSA representative. Last year, she said she barely waited.

"I am worried about May, June, and July," Heller said, referring to her finances if Social Security is disrupted. She doesn't have much in savings, as she used most of her retirement money caring for her sick husband.

Donna Barton Gifford, 79, declared bankruptcy a few weeks ago and is moving in with her daughter.

"That's one reason I'm moving in with family so that I don't have to live in my car," said Barton Gifford, who worked in IT and was the sole breadwinner of her family for many years. "If the checks don't come when they're supposed to, everything in my life is blown."

Barton Gifford, who receives about $3,600 monthly in Social Security benefits, said she's "never been this scared" about her future and doubts she'll have enough for a long-term care facility if she can only stay with her daughter temporarily.

Some aren't worried — and even applauding cuts

Some older Americans feel calm about what the changes to Social Security could mean for them.

Michelle Husberg, 62, said she and her husband aren't panicked — the couple, who live in Utah, have saved over $3 million. Husberg, who retired from nursing two years ago, doesn't plan to draw from Social Security until she's 67 but her husband is collecting Social Security.

"I'm not too worried about it personally, but I do worry that cutting staff could make it difficult for people needing help," Husberg said. "I think that something has to change to Social Security before it goes bankrupt, but I don't think anything should change for those currently receiving it."

Cheryl Wagner, 78, said she's comfortable living on her income and isn't too worried about any potential shifts to Social Security benefits. Wagner backs Trump and is "so glad to see him doing what I agree needs done," she said.

A few weeks ago, she bought a new car and has recently started a new business selling her artwork at craft shows to help fund work on her house.

"The expenses could hurt me but I'm willing to take that chance," Wagner said.

• Donald Malone quit a white-collar career in tech because of layoffs and burnout.
• He struggled to find work and decided to take Social Security early.
• Malone is considering getting into real estate or finding blue-collar work.

This as-told-to essay is based on a conversation with Donald Malone, 65, a New Jersey resident who has held various blue-collar roles after leaving the corporate world. Now he's struggling to find any work and suspects his age and the gaps in his résumé have hindered his chances. His words have been edited for length and clarity.

I grew up in northern New Jersey in a middle-class family. I was the first in the family to go to college after high school, going to a community college.

I was undecided about what I wanted to do when I got out of high school. My parents asked me: "Where do you want to go? What do you want to do?" I wasn't sure what to say. I was interested in science and wanted to be like Neil Armstrong exploring space. I told my parents I wanted to be an astronaut, and they looked at me like I was stupid. They tried to help support me financially in college, which was in the late '70s.

There were these recruiters who came to the school for programming and data processing, and I thought that was interesting. They told us this was a new and rapid career that was moving quickly. So I majored in computer science, and my minor was accounting, though I didn't finish school.

I worked on IBM equipment, and I was making great money doing it. When I first started in it, I was getting close to $45,000 in the early '80s. I worked with some smaller companies, and I worked for a consulting group that dealt with a lot of retail companies. I transitioned to working for a lot of companies in the fashion industry, working with some consultants doing work for Ralph Lauren and a few others.

By my late 40s, it started to get tough. I had faced layoffs. At one company, I needed slightly more time on a project, and my manager wasn't happy about it and felt I lied and fired me. His boss felt as though I wasn't worth being fired and should have received just a warning, but my boss was insistent.

I kept at it and got good money. I never made six digits, but I always made at least $60,000. By 2017, I just got to be kind of disinterested. I just wanted to get out of this business.

I was laid off and collected unemployment, but I just got to the point where I said, "I've got to start looking at retirement and slowing down." It was very stressful work with all this competition and the demand of assignments being done at such and such a time.

Taking Social Security early and switching to blue-collar work

I decided I was going to apply for Social Security early. I thought it was time to consider something different, so I had an employment agency help me out.

I found a job on Craigslist in 2017 for a large German company that makes machines for making paper and cardboard. What I liked about the job was that I traveled to Canada and across the US, and we would go to these mills. I really enjoyed the job. They didn't really pay much, but they paid for my hotel, my rent, a car, and my travel.

When COVID hit, a lot of this shut down. When Canada decided it was going to shut down the borders, I left that company. I went to Carvana and did detailing. It didn't pay much, but I enjoyed it. I worked the night shift, though it got to be too much for me physically. I was making less than $30,000, which was a huge drop in salary.

Then I got a job working for a trucking company called Hogan, and they hired me as a driver. One of their big customers was CarMax, so I would go to CarMax and personally drive certain vehicles to another CarMax location. I got the opportunity to drive sports cars. Unfortunately, they laid me off.

I also worked for a senior living facility as a duty supervisor doing easy jobs. It's almost like a security guard without a gun. But unfortunately, in January, I had a stroke and heart attack on the same day. I'm recovering from that now. I was in the ICU for seven days, and unfortunately, they laid me off because they needed somebody to fill that spot quickly.

Struggling to find a high-paying job

I'm just at a standstill. Right now, I'm not doing anything. I'm not a lazy person. The shift from working white-collar to blue-collar jobs was a transition I enjoyed, and I'm glad I made the shift. But now, I can't even get back into white-collar work. It's changed with artificial intelligence, and I'm behind on the technology.

I'm getting older now, and I think companies have been looking for younger candidates with more experience than just working with IBM equipment. It's a rapidly moving career with robotics, artificial intelligence, making games, etcetera. I had an opportunity to work in video games, but I didn't find an interest in it.

In applications for programming jobs, they wanted to know what languages I program in and then looked at how many years I worked and if there were any gaps. A few of the gaps I had were because either the company went out of business or I faced a layoff. When I got into blue-collar, it was even more years of a gap.

I am looking for blue-collar jobs now. But my wife is a Realtor and has been in real estate for 20 years. A large portion of our money comes from my wife working. She's been encouraging me to join her and work with her as a salesperson for the broker. My wife and I also have a little side business where we take pictures of the outside of houses for banks and realtors. That helps pay grocery bills.

My Social Security of $2,187 a month really just pays my mortgage and my taxes. I'm glad that I filed for it early, especially with the stroke and heart attack. I've been able to manage every week with food on my table, clothes on my back, and a roof over my head. I never really was the type of person to spend money like crazy.

I'm not looking to get back into the mainstream companies and putting in a 9-to-5. I'm taking the real estate exam. I'm also hoping to do some little odd jobs. I enjoy working, and I don't want to be a couch potato and waste the day doing nothing. Ideally, it would be a lower job that isn't a consistent 9-to-5 working every day.

• Parents who have retired early or hit financial independence are teaching their children finances.
• Parents said their children are investing, opening retirement accounts, and starting businesses.
• The FIRE movement emphasizes financial literacy and early retirement through careful investing.

At 9 years old, Ramat Oyetunji's daughter made money cleaning friends' and teachers' cars in her neighborhood, put her savings into a stock portfolio, and co-published a kid's book on money with her mom.

"If we can start our kids young, then that's a great way to pass down that financial literacy and generational wealth," said Oyetunji, 48, who retired at 44.

Oyetunji is one of many parents who have embraced the Financial Independence, Retirement Early (FIRE) movement over the last decade. The movement, part of the broader Financial Independence movement, stresses principles like paying off debt, long-term investing, and building passive income streams, all in hopes of retiring from a 9-to-5 job while pursuing passions like travel or financial coaching.

While much of the movement's emphasis falls on amassing enough to retire early, some principles extend to the next generation. Half a dozen parents told Business Insider they wanted their children to be more financially savvy than they were, teaching them how to invest, budget, and delay gratification.

Some said because managing finances is rarely taught in school, they wanted their children to buck the trend and recognize the advantage of starting early.

However, some parents are split on how to best prepare their children for the financial world. Some said teaching their children financial advice early would be key to their success, though they weren't sure how far to go without taking the fun out of childhood.

Another fear is that because they retired early or work part-time, their children may lack a model for working hard.

According to experts, simplicity wins out: Susan Hirshman, director of wealth management for Schwab Wealth Advisory, advised parents to introduce money lessons through "simple, practical ways," such as allowance, budgeting, and goal setting.

"The most effective lessons often come from daily life — whether it's setting a savings goal for a concert ticket, comparing prices while shopping, or helping plan a family vacation activities based on a specified dollar and time budget," Hirshman told BI. "These hands-on experiences build confidence and set the stage for smart financial decisions down the road."

Starting their children young

Oyetunji grew up in Nigeria and moved to the US at 20 to finish her studies in mechanical engineering. She started her career working on offshore oil rigs before transitioning to working as a process engineer, vaccine manufacturer, and closing out her career as a quality director at a chemical company. Along the way, she adopted principles of the FIRE movement.

Oyetunji, who lives outside Philadelphia, retired at 44 with a seven-figure net worth. In her spare time, she continued building her company The FI Woman LLC, which she started in 2015, and wrote books on financial planning. She said her early retirement has allowed her to spend more time with her family and community and teach her daughter financial literacy.

Oyetunji found that the most effective way to teach her daughter is through daily tasks. For example, her daughter plays Minecraft and Roblox, so Oyetunji suggested she buy shares in the games' publishers alongside other blue chip companies to understand how stocks are connected to the real world. She also gives her an allowance to help her understand budgeting.

Brennan Schlagbaum's 1- and 3-year-old daughters are too young to start buying shares in companies, but he's started investing on their behalf. The self-made millionaire, who quit his day job to run a financial literacy platform full-time, said they both have a 529 plan, a brokerage account, and a Roth IRA.

He and his wife Erin opened a 529 plan, meant for education expenses, for their daughters before they were even born. The Dallas-based parents contribute about $250 a month, which they settled on by working backward from their goal: to cover 60% of the cost of an in-state, public university.

"They're required to handle the rest, whether it be a scholarship or paying their way," said Schlagbaum. "We want them to have a role. They're still going to contribute and understand its relevance."

Hirshman said parents should ask themselves if they can afford financing college for their children without losing track of their financial goals, then determine how they should encourage financial responsibility in their children.

"It is so important to understand that a person's relationship to money and wealth starts with their experiences in childhood," Hirshman said. "Teaching children about money shouldn't be about placing pressure on them — it's about equipping them with tools to make confident, informed choices as they grow."

They also contribute about $250 a month to the two brokerage accounts that are earmarked for each daughter. Schlagbaum said they plan to gift them that money in their 20s when they start looking for houses or opening a business.

As for the Roth IRA, a retirement-specific account, the account holder must have earned income to contribute. Schlagbaum contributes any money his daughters earn from baby modeling into their Roths, he said, to "get that compound interest rolling at a very young age."

In the meantime, he's starting to familiarize them with investing terms.

"Recently I sat them down and I was talking to them about what we're investing in my solo 401(k)," he said. "Obviously, they had no idea. But it was just to introduce them to the subject."

Teaching by example

For some FIRE parents, demonstrating techniques for financial success is more powerful than teaching their children about advanced economics.

Cha'Lea Stafford, who quit her sales job to pursue a more entrepreneurial career, didn't learn about personal finance growing up.

"I was born into a world where survival came first," said the podcast host and online course creator. "My family arrived in Georgia with nothing. We were homeless, living in a shed behind the farmers market where we sold produce."

Her two sons, 11 and 17, are both entrepreneurs. They first learned about business basics, and she encouraged her oldest to start a lemonade stand. Her youngest, a toddler at the time, observed, wanting "nothing more than to be like his big brother," she said, and started his own entrepreneurial career.

His first venture was selling books to neighbors out of a red wagon. He's also done mailbox makeovers for neighbors and created an online course to teach other kids how to make their first $500.

"My sons now understand money in ways I never did at their age," said Stafford, who is saving and investing aggressively to hit financial independence. "They invest. They create as budding entrepreneurs. They see wealth as a tool, not just a number."

Susan Cesarini, 57, has made it one of her goals to teach her grandchildren to know the value of a dollar.

Cesarini ran a cat grooming business before retiring at 50, though she unretired during the pandemic after feeling she lost her sense of purpose. Despite retiring with a seven-figure net worth, she restarted her business at half the size and set boundaries on when she works.

Cesarini said she didn't have the time to educate her children on financial advice, as she worked multiple jobs as a single mom. Instead, her children followed her lead and lived frugally.

Cesarini is now guiding her grandchildren more directly. She's taught her 12-year-old grandson about compounding, putting your money to work by investing, and the difference between a "need" and a "want." She's taken her grandchildren to thrift stores so they know how to look for cheaper options and she encourages them to fix things on their own instead of hiring someone. She used her own property, which they painted with her, as an example.

"Seeing me work hard, seeing his mom and dad work hard, I think he wants to work hard and learn new things," Cesarini said. "I definitely see property flipping in his future."

Most 24-year-olds aren't thinking too deeply about retirement. With decades of work ahead of them, most are focused on getting their footing in the workplace — not on the financial needs and life goals of their 65-year-old selves.

The same was true for me. Sure, I enrolled in a 401(k) and started to build an emergency fund, but I hadn't really sat down and mapped out what my future would look like 40-some-odd years down the road. That all changed recently.

Over the past several months, including as part of Business Insider's "Retirement Regrets" series, I spoke directly with over 200 older Americans, and another 4,500 retirees shared their stories via online forms. People generously recounted the pitfalls and successes of their own journeys to the golden years. Some painted a rosy picture of what the future may hold — traveling the world, volunteering for causes they admire, or spending more time with family. Others expressed regrets and struggles — working two jobs late into their 70s or 80s, caring for aging parents, or living in unstable housing situations.

At first, I wasn't thinking much about my own retirement, but as I heard more stories, I began to wonder if I was already making mistakes I might one day regret.

After one woman told me she was too safe with her investments, I took most of my money from savings accounts and decided to plow it into the market — albeit via still-fairly-safe index and mutual funds. After a man said he regretted not maxing out his 401(k), I increased my contribution. But beyond the standard financial advice, the part of the stories that struck me most was how much time people spent talking about the psychological, social, and emotional side of retirement. Some told me they spent their whole lives working to spend their later years relaxing, only to realize they missed the self-fulfillment they got from their jobs. Others said they sacrificed travel or family to achieve wealth, only to get sick after retiring. A few said they've loved retirement even with little in the bank. These weren't aberrations: Hundreds of respondents said the nonfinancial elements of retirement were the most important.

After talking with all these retirees, I realized there isn't an ideal form of retirement. I can't predict how my career will look, how long I'll live, or what life has in store. I may screw up along the way, as many people told me they had, but there are ways to recover. My priorities between now and my 60s may change, or there may be a huge life event I don't see coming. But from these interviews, including a dozen for this story, I actually feel significantly less anxious about my retirement planning than when I began. I better understand what I and my fellow Gen Zers should do to prepare for retirement — even if I don't plan on playing golf.

While my conversations eventually reinforced the age-old canard that money can't buy happiness, the hundreds of retirees I spoke to made it clear that there is a lot of value in financial stability. People stressed some basic tenets: save intently, live frugally, and plan for the long term. Admittedly, many Gen Zers who are on the lower rungs of the career ladder have little to invest because of meager starting salaries and high living costs. But even so, those further along in their journeys told me that learning the fundamentals of finance — whether through YouTube videos, books, or conversations with family and friends — is immensely helpful as the paychecks start to grow.

Kevin Foster, now 64, was earning a low-six-figure salary as a chemical and wastewater lab technician before he left the working world. While he regrets running up his credit cards and not maxing out his 401(k) earlier in his career, he amassed over $700,000 in savings by the time he retired, including the pension his job provided. The forethought turned out to be crucial: He was forced to end his career at 58 after developing a debilitating autoimmune disease. He started drawing Social Security Disability Insurance in 2020, which paid just over $3,000 monthly. Despite his illness, the combination of Social Security, savings, the pension, and his wife's income means that the couple will be able to live comfortably for the foreseeable future.

"My grandson is turning 20, and he's been working since he got his driver's license," Foster told me. "He's got a little bit of cash, but I told him, 'I don't care how much you put away, you've got to put something away.'"

Beyond the basic advice to start early to take advantage of compounding interest over time, financial advisors disagree on the precise amounts to stash away. Fidelity says you should have three times your salary at 40 and 10 times your salary at 67, while T. Rowe Price suggests your total assets at 65 should be between 7.5 and 13.5 times your income. And while some advisors say to prioritize Roth IRAs, others say to focus more on 401(k)s.

Chris Herman, the head of personal retirement at Merrill and Bank of America, stressed enrolling in employer-sponsored retirement plans if available but acknowledged that it can be tough for young people to focus on the long term, especially as crises arise.

"A very large percentage of people in their 20s will lose their job against their will at some point in their career. You want to be prepared for that," Herman said.

Donna Davis, 71, learned that lesson the hard way. The single mother worked as a teacher and held odd jobs doing catering and working at day cares but could never save much each month. She knew little about the stock market, exhausted her Roth IRA to pay her bills, and returned to work two months after she retired for added financial security. She told me that she may need to work well into her 70s since her pension barely covers her mortgage, Medicare, and prescriptions. Despite the difficulties it may have caused at the time, she now wishes she had saved more in her younger years.

"Dreaming of retirement and the reality of retirement are two different things," Davis said. "You have to save your money early because you'll need it in retirement. Try to sock some of your money away."

While a lot of retirees were dutiful about their planning, considered forethought wasn't a cure-all. For some, an illness or disease halted their retirement progress. Others said a loved one's death or a job loss set them back. Some struggled to secure white-collar work after a layoff and transitioned to living paycheck to paycheck. Many in my generation haven't factored in these circumstances, and I've had to reconsider my own retirement outlook — I could save prodigiously and follow a calendar of life milestones, but something could always erase this progress.

Even if a catastrophic life event hurts my planning, I've found it healthy to accept that life is often unfair — as my mom told me growing up, "Man plans, and God laughs." All I can do is live each day to the fullest, prepare for emergency costs, and listen to the stories of people like Barbara Moore-Peters.

Moore-Peters, 62, grew up poor and struggled in school, though she worked as a nurse for three decades while raising her children alone. She woke up blind one day in 2008, and though she gained partial vision back, she struggled to hold a job with her condition. There's no cure for her neuromuscular disease, and she's unsure how she'll stay afloat on disability. Despite the financial worries, she said her children and grandchildren make her retirement years worthwhile.

"The only thing I have is my legacy," she said. "When I feel really down, I drive to Ohio to see my grandkids and my daughters and get hugs and kisses."

Increasingly, I found myself chatting with people about the emotional fulfillment — or lack of it — that comes with leaving a career. Given my workaholic gene and the genuine enjoyment I get from my job, there is a chance I may never fully retire. Even if I get to a point where I can comfortably ride off into the proverbial sunset, I might not want to. I get bored very easily. It's why I've taken up marathon running, created trivia games, and aim to visit all 50 states by my 30s. I'm not alone in this: Two dozen of the people who spoke to BI said they're working past retirement age with no intention of stopping. Many said that even as millionaires, they hope to keep going.

Louis Belline, 75, said he "failed retirement" five times. Belline retired in the mid-2000s after 25 years as a Delta Air Lines pilot before returning to flying as a pilot trainer and earning $130,000 a year. His wife happily retired five years ago, and the Georgia couple has a net worth in the mid-seven figures. But Belline said he may work until his late 70s because it keeps him sharp.

"I see people retire and sit down and die," Belline said. "The biggest concern I have is I don't want my brain to atrophy. I figure I can keep trucking and keep up with these younger people who are smarter than me."

David John, a senior strategic policy advisor at AARP, said he's seen many people retire enthusiastically only to realize they were bored or lost their purpose. He said adjusting to the loss can be tough, and the lack of social connection in retirement often pushes people back to work. About half of respondents in an AARP survey of unretired people said their decision to return to work was based on having "a purpose in life, a social network, and getting out of the house."

Several retirees I spoke with were able to get creative in how they found purpose. Aida Porras, 67, lost her mother a few years ago and cared for her husband for five years after his stage four cancer diagnosis. She'd been laid off from her job as a healthcare consultant and had focused her attention on caring for her ailing mother. while providing consultation as an independent contractor. After her husband died, Porras took over the family art supply business in Georgia, which gave her a new circle of friends, sparked her interest in painting, and allowed her to flex her entrepreneurial muscles. It also helped her overcome her grief and stay focused on life's joys. She said she doesn't have a transition plan for her retirement, adding that many in her family lived into their 90s.

"I'll have some extra cash, which will help me down the line," Porras said. "At the end of the day, when I go to bed, I laugh and say, 'Nobody can fire me.'"

Hearing stories like Porras' and dozens of others made me realize that even if I don't hit my financial milestones, I could always pivot and open a business, write a book, or even take on blue-collar work. There will always be something to give me financial and personal fulfillment.

Ultimately, the most important factor for a successful retirement seemed to be having a clear understanding of what makes me happy. In my interviews, many people said they were too ambitious upon retiring and blew through their reserves too fast, while others said they were too cautious and sacrificed their enjoyment. People who considered their retirement successful agreed that retirement is about fulfillment and purpose, whether realizing travel goals, finishing that last professional achievement, or having coffee weekly with a longtime friend. As someone who has frequently sacrificed my enjoyment to get further ahead financially, such as working a full-time job most semesters of college, I'm starting to do less in my spare time, backing off some commitments while prioritizing travel and health (though I'm not ignoring recent market moves entirely).

My conversations have given me some pretty good models for what a truly successful retirement may look like. Take Bill Watts, 78, who told me he's succeeded in retirement as a "regular guy" who didn't make much money. Watts, who lives in Florida, sold insurance and mutual funds before spending 25 years in nuclear medicine, retiring at 67. He took advantage of IRAs early and never spent too much — he maintained his fishing boat for 30 years and went on international trips for cheap through careful planning. Upon retirement, he scuba-dived and bought a house in Seattle to be closer to his children, where he spends his summers. His $1.3 million nest egg has grown to about $1.8 million since he quit working, thanks to smart investing. And between travel and spending time with his wife of 53 years, he's spent his late 70s reading, watching YouTube, and maintaining his houses.

"I did not come from wealth, nobody mentored me, I never made a lot of money, but I did almost everything I ever dreamed about doing," Watts said.

Or perhaps my retirement could look like that of Lori Devlin, 68, who retired in 2021 after 36 years in the wine industry but took a "retirement job" as the village clerk in her Long Island town, handling the village's records and doing administrative tasks. She said her net worth fell "into the negatives" during the 2008 financial crisis, but she grew it to well over $1 million by retirement through aggressive investing and her side income as the village's elected trustee. Devlin said her retirement has been everything she's dreamed of, even though her position pays much less than her previous role in the wine industry. She's loved staying involved with local politics and bettering her community, and she plans to slow down once she takes Social Security at 70 to travel and spend time with her grandchildren.

I'm still 40 or so years out from retirement, but I'm using my mid-20s to think about how to spend my twilight years purposefully, even if it means not being a multimillionaire or spending my days surrounded by palm trees.

Are you a member of Gen Z who is already thinking about your retirement? Please fill out this quick form.

Noah Sheidlower is a reporter on Business Insider's Economy team who led the Retirement Regrets series.