Retirement Squeeze: 67-Year-Old Retail Worker Weighs Options as Jobs Data Show Slowdown

A 67-year-old big-box store employee earning $19.50 an hour is weighing whether to keep working or retire, highlighting the financial strain on older Americans as U.S. job growth slows. The widower works 34 hours a week, taking home about $2,300 monthly after taxes. He receives $2,410 in monthly Social Security and holds $214,000 in a 401(k), plus $31,000 in savings. He still owes $58,000 on his home, with a $1,150 monthly mortgage payment. A 4% withdrawal would add roughly $700 monthly, leaving a $300 shortfall against $3,400 in expenses. A financial adviser recommends he remain employed, citing high opportunity costs of withdrawing in a down market. Health coverage at $190 monthly and physical demands of the job add pressure. U.S. employers added just 29,000 jobs in September, with 1.9 million long-term unemployed.