55, Underemployed, and Faking Normal

The Face of Change

You recognize that 55-year-old face. It’s the well-groomed image of an older woman or man who seems to have his or her life in order. But looking more closely, you see and hear the truth about overdue utility bills, canceled salon appointments and corporate downsizing. The person before you pretends to be in control, but he or she struggles to maintain an accustomed lifestyle due to the lack of a steady job, a retirement account or emergency funds. Imagine a woman with a first-rate education who is underemployed. She suspects that age discrimination led recruiters to reject her job applications. She worries secretly about becoming homeless. Sadly, her story is not unique. The face in front of you may reflect your own fears about aging during an era of great change and uncertainty.

Lessons on Healthy Finances from a Nurse

Don’t despair. Take the story of an older African-American woman who amassed a large estate on an annual salary of $30,000 or less as a private nurse. Her bank account sports a hefty six-figure sum, and her home in Brooklyn is now worth nearly $4 million...