Reported 11 months ago
Maryann O'Connor, a 66-year-old woman in Rhode Island, decided to sell her home and purchase a smaller one with two other women as she had no retirement savings, 401(k), or emergency fund. This creative solution was driven by O'Connor's financial struggles, reflecting a broader issue of insufficient retirement savings among Americans. Studies show the importance of early retirement planning and financial literacy to avoid drastic lifestyle changes or working well into retirement years.
Source: YAHOO