Retirement NINJAs – No Income, No Jobs, and No Assets!

This is quickly becoming the situation that many Americans and Canadians are facing. No jobs, no income, and no assets to sustain them. This happens when they are out of work let alone approaching retirement. This is a dire predicament for many consumers these days. They struggle to put food on the table and a roof over their head. They may not be old enough to retire. However, they are effectively retired and have no way of generating income for themselves.

If there are no jobs and no way of making money, many consumers will turn to family and friends to help them out. This works for a while but then they become a burden on their families as well.   Seniors may need to move in with family members to control or eliminate housing costs that they cannot afford. It can turn into a very desperate situation with seniors going hungry and cold in the wintertime.

Low Paid Jobs are Not the Answer

There has been a lot of talk about people having low-paid jobs which are essentially minimum wage jobs which are insufficient to save for retirement and basically insufficient to live on as well. They need to pool their income with other people, they’re living with, their families etc. in order to be able to live a decent style of life. It often means for larger families living together and pooling their assets and income.

When you are making minimum wages you also need to work many hours just to survive. It is not uncommon for many consumers to work 50 and 60 hour weeks just to make ends meet for tier families and themselves. One wonders just who is looking after the kids in a situation like this? They are home alone and we all know that idle hands usually mean trouble of some kind. The TV and video games do not provide a useful learning tool and our kids also end up with a very skewed view of the world.

No Income, No Jobs and No Assets – Retirement NiNjA’s

These people also have exhausted all of their assets trying to make do on no income or at best a minimum wage that just does not measure up to what they need to support themselves and their families.  Once your assets are gone, the only thing left is to live with your family and try to find a job that pays better. Don’t give up, work hard, and pool resources and you will eventually get out of the pit you are in. After all, the family is the most important asset that we all have.