It’s a heart-wrenching story we are all becoming too familiar with. Australians, hitting the supposed golden years of their life—the retirement phase, are being compelled to shelve their hard-earned leisure and return to the grindstone. Necessity, they say, is the mother of invention, and in this case, it's the cost of living crisis that's the stern matriarch pushing retired Aussies back into the laborious workforce.

Dolly Parton once crooned about the struggle of working from 'nine to five', but fast forward to 2023, the predicament has become vastly graver than the whimsy of a song. Australians are struggling to make ends meet from their regular nine-to-fives, a condition that a report by Finder has highlighted. It found that a staggering 24% of Aussies are either clocking in extra hours at work or coming out of retirement, all in an attempt to keep the wolf of inflation at bay.

Has your retirement been ruined? Image source: Shutterstock.

With inflation shooting up to 7 per cent in Australia, the chilling RBA cash rate at 4.1 per cent, and a brutal rental crisis churning the mix, it's become a slight relief to spend more and save less for some lucky few. However, for the majority, more dramatic measures have to be taken to keep from drowning in these tumultuous economic waters.

Gemma Bates-Smith, 32, a teacher’s aide and a Queensland mum of two, narrates a tale that strikes an all too familiar chord for many. Despite what she considers a 'good' wage in her current profession and her husband's full-time job, the spiralling cost of living has compelled her to slip into a part-time role at food delivery service, DoorDash, to keep her family afloat.

'A year ago, my income combined with my husband’s was more than enough. Now, we can’t survive on that alone,' she candidly revealed to news.com.au, highlighting how their once stable financial status had reduced to living week by week.

The Bates-Smith family isn't alone in turning to DoorDash to alleviate financial strains, with a reported 29 per cent of the service's workforce taking up such 'side hustles'.

To add salt to the wound, the cost of living certainly hasn't spared our valued retirees either—it's nudging them out of the comfort of their twilight years and shoehorning them back into the workforce.

Case in point, pensioners Peter Negro, 74, and Glenice Negro, 73, had once relished travelling across Australia in their caravan, broadening their horizons while living the dream. But as the ugly head of inflation reared, their grey nomad dream quickly evaporated into a bitter reality check. From power bills to the humble grocery run, every essential seemed like an uphill battle, pushing the couple to consider selling their beloved caravan and giving up on their retirement aspirations.

Instead of surrendering, the resilient pair snagged delivery driver roles at DoorDash, rolling up their sleeves in their 70s to work three or four days a week.

For them, it wasn't just about saving their caravan; it became a fight to maintain their basic living standards. Succinctly illustrating the crisis, they said, 'We are in our seventies, and there are still plenty more adventures waiting for us.'

Even in the face of their predicament, they expressed gratitude for being healthy enough to return to the workforce.

'Despite our circumstances, we feel very fortunate that we're able to go back to work at our age so we can continue to do what we love, even if we cannot get away as much as we used to,' they added.

Key Takeaways

• The cost of living crisis is impacting Australians, forcing them to take on extra work, work longer hours, or come out of retirement to make ends meet.
• Inflation has spiked to 7% in Australia, which coupled with a 4.1% RBA cash rate and severe rental crisis, has affected nearly every Australian's financial stability to some extent.
• The rising cost of living is forcing retirees back into the workforce.
• Retired couple Peter and Glenice Negro had to return to work in their seventies due to the growing cost of living crisis, after initially enjoying their retirement travelling around Australia.

Remember, during these challenging times, it’s important to learn from each other, explore all available resources, and remain vigilant and mindful. We must do our best to navigate these choppy economic waters with tenacity and resolve! After all, retirement should be full of adventures, not adversities.

Members, we now want to hear from you. Have you had to go back to work due to the current economic climate? Or maybe you can’t go back to work and have had to find another way to make things work. Tell us all about it in the comments section below.

 

[ToniaKisliakov]

It’s a heart-wrenching story we are all becoming too familiar with. Australians, hitting the supposed golden years of their life—the retirement phase, are being compelled to shelve their hard-earned leisure and return to the grindstone. Necessity, they say, is the mother of invention, and in this case, it's the cost of living crisis that's the stern matriarch pushing retired Aussies back into the laborious workforce.

Dolly Parton once crooned about the struggle of working from 'nine to five', but fast forward to 2023, the predicament has become vastly graver than the whimsy of a song. Australians are struggling to make ends meet from their regular nine-to-fives, a condition that a report by Finder has highlighted. It found that a staggering 24% of Aussies are either clocking in extra hours at work or coming out of retirement, all in an attempt to keep the wolf of inflation at bay.

View attachment 26056

Has your retirement been ruined? Image source: Shutterstock.

With inflation shooting up to 7 per cent in Australia, the chilling RBA cash rate at 4.1 per cent, and a brutal rental crisis churning the mix, it's become a slight relief to spend more and save less for some lucky few. However, for the majority, more dramatic measures have to be taken to keep from drowning in these tumultuous economic waters.

Gemma Bates-Smith, 32, a teacher’s aide and a Queensland mum of two, narrates a tale that strikes an all too familiar chord for many. Despite what she considers a 'good' wage in her current profession and her husband's full-time job, the spiralling cost of living has compelled her to slip into a part-time role at food delivery service, DoorDash, to keep her family afloat.

'A year ago, my income combined with my husband’s was more than enough. Now, we can’t survive on that alone,' she candidly revealed to news.com.au, highlighting how their once stable financial status had reduced to living week by week.

The Bates-Smith family isn't alone in turning to DoorDash to alleviate financial strains, with a reported 29 per cent of the service's workforce taking up such 'side hustles'.

To add salt to the wound, the cost of living certainly hasn't spared our valued retirees either—it's nudging them out of the comfort of their twilight years and shoehorning them back into the workforce.

Case in point, pensioners Peter Negro, 74, and Glenice Negro, 73, had once relished travelling across Australia in their caravan, broadening their horizons while living the dream. But as the ugly head of inflation reared, their grey nomad dream quickly evaporated into a bitter reality check. From power bills to the humble grocery run, every essential seemed like an uphill battle, pushing the couple to consider selling their beloved caravan and giving up on their retirement aspirations.

Instead of surrendering, the resilient pair snagged delivery driver roles at DoorDash, rolling up their sleeves in their 70s to work three or four days a week.

For them, it wasn't just about saving their caravan; it became a fight to maintain their basic living standards. Succinctly illustrating the crisis, they said, 'We are in our seventies, and there are still plenty more adventures waiting for us.'

Even in the face of their predicament, they expressed gratitude for being healthy enough to return to the workforce.

'Despite our circumstances, we feel very fortunate that we're able to go back to work at our age so we can continue to do what we love, even if we cannot get away as much as we used to,' they added.

Key Takeaways

• The cost of living crisis is impacting Australians, forcing them to take on extra work, work longer hours, or come out of retirement to make ends meet.
• Inflation has spiked to 7% in Australia, which coupled with a 4.1% RBA cash rate and severe rental crisis, has affected nearly every Australian's financial stability to some extent.
• The rising cost of living is forcing retirees back into the workforce.
• Retired couple Peter and Glenice Negro had to return to work in their seventies due to the growing cost of living crisis, after initially enjoying their retirement travelling around Australia.

Remember, during these challenging times, it’s important to learn from each other, explore all available resources, and remain vigilant and mindful. We must do our best to navigate these choppy economic waters with tenacity and resolve! After all, retirement should be full of adventures, not adversities.

Members, we now want to hear from you. Have you had to go back to work due to the current economic climate? Or maybe you can’t go back to work and have had to find another way to make things work. Tell us all about it in the comments section below.

 

[Pommyoz]

These stories about struggling families, I would love to know their budget, their spending, their lifestyle, their anything. Honestly, our shopping has not increased that much, we budget for our utilities, because they have informed us of new prices, and we are coping.

 

[ToniaKisliakov]

Its becoming very difficult to make ends meet
Why on earth allow the Green party and Labour cut off coal power electricity so quickly before being able to provide ample power to ensure that costs do not rise so much and quickly. The politicians get paid well with tax payers money, but they do not care about anyone except their pocket (referring to all politicians regardless of party). Lots of promises during elections which are always fake.

There should be a pension for everyone who retires.
The dole bludgers do not work at all as there are no incentives other than the dole which may be higher than the job. Cannot understand why there are so many generations sitting on the dole either

The lucky country is no more
Its gone
And thousands more migrants are coming and then what?? Will they get on the dole?
Are those who come under skill migration status come to Australia with a guaranteed job for a few years?
Many come under skill migration to get on the dole? Why?

 

[Trudi]

I see nothing wrong with working past "retirement age"!

It's funny that you mention Dolly Parton who, at the age of 77 is about to release a new album.

It doesn't look that Gina Rinehart, aged 66, is planning to retire anytime soon. And when it comes to the "Omaha Oracle" Warren Buffett (aged 92), they will have to carry him out before he will retire.

None of them are working because they cannot make ends meet, they do so because they WANT to.

 

[HamMcG]

I would say doing dead end low paid work like doordash is a dead end. At 32 there is plenty of time to learn additional skills. We raised 3 kids with my wife a fulltime mother. She was sacked as soon as her employers learned of her pregnancy. At 35 trying to get back to work she found no longer had relevant skills. Over ten years she had the following jobs. Volunteering to hear children read, SSO, ECW, TRT, Coordinator, Counsellor, Manager, the last role paying over 100k a year. This involved 10 years of part time study at nights. She didn't even finish high school, the first courses were TAFE. It was a long hard slog but every little accomplishment gives you skill and confidence to tackle the next.

 

[Trudi]

I would say doing dead end low paid work like doordash is a dead end. At 32 there is plenty of time to learn additional skills. We raised 3 kids with my wife a fulltime mother. She was sacked as soon as her employers learned of her pregnancy. At 35 trying to get back to work she found no longer had relevant skills. Over ten years she had the following jobs. Volunteering to hear children read, SSO, ECW, TRT, Coordinator, Counsellor, Manager, the last role paying over 100k a year. This involved 10 years of part time study at nights. She didn't even finish high school, the first courses were TAFE. It was a long hard slog but every little accomplishment gives you skill and confidence to tackle the next.

Exactly, learning new skills and upgrading one's professional skills should be a lifelong adventure!

 

[maggiej]

I don't believe half these stories of not being able to manage in retirement. My husband only had fairly low wages and earnt extra by working longer hours to make ends meet all his life. After retiring he worked casually until he was over 80 years and we are able to manage very well on the pension because we have never lived a high life. Obviously, people who go out to movies, smoke and drink probably find it hard to manage. Everyone should be living within their means and their life would be more enjoyable. I am quite happy to be able to do many things I like. Plus we have also saved money to go on cruises. So why can others not manage?

 

[Jest]

It’s a heart-wrenching story we are all becoming too familiar with. Australians, hitting the supposed golden years of their life—the retirement phase, are being compelled to shelve their hard-earned leisure and return to the grindstone. Necessity, they say, is the mother of invention, and in this case, it's the cost of living crisis that's the stern matriarch pushing retired Aussies back into the laborious workforce.

Dolly Parton once crooned about the struggle of working from 'nine to five', but fast forward to 2023, the predicament has become vastly graver than the whimsy of a song. Australians are struggling to make ends meet from their regular nine-to-fives, a condition that a report by Finder has highlighted. It found that a staggering 24% of Aussies are either clocking in extra hours at work or coming out of retirement, all in an attempt to keep the wolf of inflation at bay.

View attachment 26056

Has your retirement been ruined? Image source: Shutterstock.

With inflation shooting up to 7 per cent in Australia, the chilling RBA cash rate at 4.1 per cent, and a brutal rental crisis churning the mix, it's become a slight relief to spend more and save less for some lucky few. However, for the majority, more dramatic measures have to be taken to keep from drowning in these tumultuous economic waters.

Gemma Bates-Smith, 32, a teacher’s aide and a Queensland mum of two, narrates a tale that strikes an all too familiar chord for many. Despite what she considers a 'good' wage in her current profession and her husband's full-time job, the spiralling cost of living has compelled her to slip into a part-time role at food delivery service, DoorDash, to keep her family afloat.

'A year ago, my income combined with my husband’s was more than enough. Now, we can’t survive on that alone,' she candidly revealed to news.com.au, highlighting how their once stable financial status had reduced to living week by week.

The Bates-Smith family isn't alone in turning to DoorDash to alleviate financial strains, with a reported 29 per cent of the service's workforce taking up such 'side hustles'.

To add salt to the wound, the cost of living certainly hasn't spared our valued retirees either—it's nudging them out of the comfort of their twilight years and shoehorning them back into the workforce.

Case in point, pensioners Peter Negro, 74, and Glenice Negro, 73, had once relished travelling across Australia in their caravan, broadening their horizons while living the dream. But as the ugly head of inflation reared, their grey nomad dream quickly evaporated into a bitter reality check. From power bills to the humble grocery run, every essential seemed like an uphill battle, pushing the couple to consider selling their beloved caravan and giving up on their retirement aspirations.

Instead of surrendering, the resilient pair snagged delivery driver roles at DoorDash, rolling up their sleeves in their 70s to work three or four days a week.

For them, it wasn't just about saving their caravan; it became a fight to maintain their basic living standards. Succinctly illustrating the crisis, they said, 'We are in our seventies, and there are still plenty more adventures waiting for us.'

Even in the face of their predicament, they expressed gratitude for being healthy enough to return to the workforce.

'Despite our circumstances, we feel very fortunate that we're able to go back to work at our age so we can continue to do what we love, even if we cannot get away as much as we used to,' they added.

Key Takeaways

• The cost of living crisis is impacting Australians, forcing them to take on extra work, work longer hours, or come out of retirement to make ends meet.
• Inflation has spiked to 7% in Australia, which coupled with a 4.1% RBA cash rate and severe rental crisis, has affected nearly every Australian's financial stability to some extent.
• The rising cost of living is forcing retirees back into the workforce.
• Retired couple Peter and Glenice Negro had to return to work in their seventies due to the growing cost of living crisis, after initially enjoying their retirement travelling around Australia.

Remember, during these challenging times, it’s important to learn from each other, explore all available resources, and remain vigilant and mindful. We must do our best to navigate these choppy economic waters with tenacity and resolve! After all, retirement should be full of adventures, not adversities.

Members, we now want to hear from you. Have you had to go back to work due to the current economic climate? Or maybe you can’t go back to work and have had to find another way to make things work. Tell us all about it in the comments section below.

32 is not retirement age.

 

[Jest]

These stories about struggling families, I would love to know their budget, their spending, their lifestyle, their anything. Honestly, our shopping has not increased that much, we budget for our utilities, because they have informed us of new prices, and we are coping.

i would love to peek inside the shopping trolley of the whingers.

 

[Noon]

Sack

It’s a heart-wrenching story we are all becoming too familiar with. Australians, hitting the supposed golden years of their life—the retirement phase, are being compelled to shelve their hard-earned leisure and return to the grindstone. Necessity, they say, is the mother of invention, and in this case, it's the cost of living crisis that's the stern matriarch pushing retired Aussies back into the laborious workforce.

Dolly Parton once crooned about the struggle of working from 'nine to five', but fast forward to 2023, the predicament has become vastly graver than the whimsy of a song. Australians are struggling to make ends meet from their regular nine-to-fives, a condition that a report by Finder has highlighted. It found that a staggering 24% of Aussies are either clocking in extra hours at work or coming out of retirement, all in an attempt to keep the wolf of inflation at bay.

View attachment 26056

Has your retirement been ruined? Image source: Shutterstock.

With inflation shooting up to 7 per cent in Australia, the chilling RBA cash rate at 4.1 per cent, and a brutal rental crisis churning the mix, it's become a slight relief to spend more and save less for some lucky few. However, for the majority, more dramatic measures have to be taken to keep from drowning in these tumultuous economic waters.

Gemma Bates-Smith, 32, a teacher’s aide and a Queensland mum of two, narrates a tale that strikes an all too familiar chord for many. Despite what she considers a 'good' wage in her current profession and her husband's full-time job, the spiralling cost of living has compelled her to slip into a part-time role at food delivery service, DoorDash, to keep her family afloat.

'A year ago, my income combined with my husband’s was more than enough. Now, we can’t survive on that alone,' she candidly revealed to news.com.au, highlighting how their once stable financial status had reduced to living week by week.

The Bates-Smith family isn't alone in turning to DoorDash to alleviate financial strains, with a reported 29 per cent of the service's workforce taking up such 'side hustles'.

To add salt to the wound, the cost of living certainly hasn't spared our valued retirees either—it's nudging them out of the comfort of their twilight years and shoehorning them back into the workforce.

Case in point, pensioners Peter Negro, 74, and Glenice Negro, 73, had once relished travelling across Australia in their caravan, broadening their horizons while living the dream. But as the ugly head of inflation reared, their grey nomad dream quickly evaporated into a bitter reality check. From power bills to the humble grocery run, every essential seemed like an uphill battle, pushing the couple to consider selling their beloved caravan and giving up on their retirement aspirations.

Instead of surrendering, the resilient pair snagged delivery driver roles at DoorDash, rolling up their sleeves in their 70s to work three or four days a week.

For them, it wasn't just about saving their caravan; it became a fight to maintain their basic living standards. Succinctly illustrating the crisis, they said, 'We are in our seventies, and there are still plenty more adventures waiting for us.'

Even in the face of their predicament, they expressed gratitude for being healthy enough to return to the workforce.

'Despite our circumstances, we feel very fortunate that we're able to go back to work at our age so we can continue to do what we love, even if we cannot get away as much as we used to,' they added.

Key Takeaways

• The cost of living crisis is impacting Australians, forcing them to take on extra work, work longer hours, or come out of retirement to make ends meet.
• Inflation has spiked to 7% in Australia, which coupled with a 4.1% RBA cash rate and severe rental crisis, has affected nearly every Australian's financial stability to some extent.
• The rising cost of living is forcing retirees back into the workforce.
• Retired couple Peter and Glenice Negro had to return to work in their seventies due to the growing cost of living crisis, after initially enjoying their retirement travelling around Australia.

Remember, during these challenging times, it’s important to learn from each other, explore all available resources, and remain vigilant and mindful. We must do our best to navigate these choppy economic waters with tenacity and resolve! After all, retirement should be full of adventures, not adversities.

Members, we now want to hear from you. Have you had to go back to work due to the current economic climate? Or maybe you can’t go back to work and have had to find another way to make things work. Tell us all about it in the comments section below.

JJ

It’s a heart-wrenching story we are all becoming too familiar with. Australians, hitting the supposed golden years of their life—the retirement phase, are being compelled to shelve their hard-earned leisure and return to the grindstone. Necessity, they say, is the mother of invention, and in this case, it's the cost of living crisis that's the stern matriarch pushing retired Aussies back into the laborious workforce.

Dolly Parton once crooned about the struggle of working from 'nine to five', but fast forward to 2023, the predicament has become vastly graver than the whimsy of a song. Australians are struggling to make ends meet from their regular nine-to-fives, a condition that a report by Finder has highlighted. It found that a staggering 24% of Aussies are either clocking in extra hours at work or coming out of retirement, all in an attempt to keep the wolf of inflation at bay.

View attachment 26056

Has your retirement been ruined? Image source: Shutterstock.

With inflation shooting up to 7 per cent in Australia, the chilling RBA cash rate at 4.1 per cent, and a brutal rental crisis churning the mix, it's become a slight relief to spend more and save less for some lucky few. However, for the majority, more dramatic measures have to be taken to keep from drowning in these tumultuous economic waters.

Gemma Bates-Smith, 32, a teacher’s aide and a Queensland mum of two, narrates a tale that strikes an all too familiar chord for many. Despite what she considers a 'good' wage in her current profession and her husband's full-time job, the spiralling cost of living has compelled her to slip into a part-time role at food delivery service, DoorDash, to keep her family afloat.

'A year ago, my income combined with my husband’s was more than enough. Now, we can’t survive on that alone,' she candidly revealed to news.com.au, highlighting how their once stable financial status had reduced to living week by week.

The Bates-Smith family isn't alone in turning to DoorDash to alleviate financial strains, with a reported 29 per cent of the service's workforce taking up such 'side hustles'.

To add salt to the wound, the cost of living certainly hasn't spared our valued retirees either—it's nudging them out of the comfort of their twilight years and shoehorning them back into the workforce.

Case in point, pensioners Peter Negro, 74, and Glenice Negro, 73, had once relished travelling across Australia in their caravan, broadening their horizons while living the dream. But as the ugly head of inflation reared, their grey nomad dream quickly evaporated into a bitter reality check. From power bills to the humble grocery run, every essential seemed like an uphill battle, pushing the couple to consider selling their beloved caravan and giving up on their retirement aspirations.

Instead of surrendering, the resilient pair snagged delivery driver roles at DoorDash, rolling up their sleeves in their 70s to work three or four days a week.

For them, it wasn't just about saving their caravan; it became a fight to maintain their basic living standards. Succinctly illustrating the crisis, they said, 'We are in our seventies, and there are still plenty more adventures waiting for us.'

Even in the face of their predicament, they expressed gratitude for being healthy enough to return to the workforce.

'Despite our circumstances, we feel very fortunate that we're able to go back to work at our age so we can continue to do what we love, even if we cannot get away as much as we used to,' they added.

Key Takeaways

• The cost of living crisis is impacting Australians, forcing them to take on extra work, work longer hours, or come out of retirement to make ends meet.
• Inflation has spiked to 7% in Australia, which coupled with a 4.1% RBA cash rate and severe rental crisis, has affected nearly every Australian's financial stability to some extent.
• The rising cost of living is forcing retirees back into the workforce.
• Retired couple Peter and Glenice Negro had to return to work in their seventies due to the growing cost of living crisis, after initially enjoying their retirement travelling around Australia.

Remember, during these challenging times, it’s important to learn from each other, explore all available resources, and remain vigilant and mindful. We must do our best to navigate these choppy economic waters with tenacity and resolve! After all, retirement should be full of adventures, not adversities.

Members, we now want to hear from you. Have you had to go back to work due to the current economic climate? Or maybe you can’t go back to work and have had to find another way to make things work. Tell us all about it in the comments section below.

Sack out PM for lying to the Country voters saying he's going to make a more

I would say doing dead end low paid work like doordash is a dead end. At 32 there is plenty of time to learn additional skills. We raised 3 kids with my wife a fulltime mother. She was sacked as soon as her employers learned of her pregnancy. At 35 trying to get back to work she found no longer had relevant skills. Over ten years she had the following jobs. Volunteering to hear children read, SSO, ECW, TRT, Coordinator, Counsellor, Manager, the last role paying over 100k a year. This involved 10 years of part time study at nights. She didn't even finish high school, the first courses were TAFE. It was a long hard slog but every little accomplishment gives you skill and confidence to tackle the next.

Sack out PM for lying, the GG needs to do it, then cut all the prior PMs & Ministers yearly wage that they get & cut back on the lurks & perks, let them see what they're doing to the Pensioners who allowed them to live their life of luxury & the Taxpayers who are keeping them having the good life. Let them see how the other side of the peasants have to live, the ones who voted them in so they could rob us, the Voters.

 

[Noon]

I don't believe half these stories of not being able to manage in retirement. My husband only had fairly low wages and earnt extra by working longer hours to make ends meet all his life. After retiring he worked casually until he was over 80 years and we are able to manage very well on the pension because we have never lived a high life. Obviously, people who go out to movies, smoke and drink probably find it hard to manage. Everyone should be living within their means and their life would be more enjoyable. I am quite happy to be able to do many things I like. Plus we have also saved money to go on cruises. So why can others not manage?

I don't drink, smoke or go to the movies, my late husband worked for 48yrs & paid high taxes, got no handouts from the Govt, had to retire through ill- health, worked in all sorts of weather all hours with shift work. So it's not because of your lifestyle & why should you not enjoy your last year's in relaxation!!!

 

[Tony@51]

I see nothing wrong with working past "retirement age"!

It's funny that you mention Dolly Parton who, at the age of 77 is about to release a new album.

It doesn't look that Gina Rinehart, aged 66, is planning to retire anytime soon. And when it comes to the "Omaha Oracle" Warren Buffett (aged 92), they will have to carry him out before he will retire.

None of them are working because they cannot make ends meet, they do so because they WANT to.

as a retired plumber of 72 years on the pension my body will not allow me to work so i have to learn to exist the poverty line.

 

[Luckyus]

It’s a heart-wrenching story we are all becoming too familiar with. Australians, hitting the supposed golden years of their life—the retirement phase, are being compelled to shelve their hard-earned leisure and return to the grindstone. Necessity, they say, is the mother of invention, and in this case, it's the cost of living crisis that's the stern matriarch pushing retired Aussies back into the laborious workforce.

Dolly Parton once crooned about the struggle of working from 'nine to five', but fast forward to 2023, the predicament has become vastly graver than the whimsy of a song. Australians are struggling to make ends meet from their regular nine-to-fives, a condition that a report by Finder has highlighted. It found that a staggering 24% of Aussies are either clocking in extra hours at work or coming out of retirement, all in an attempt to keep the wolf of inflation at bay.

View attachment 26056

Has your retirement been ruined? Image source: Shutterstock.

With inflation shooting up to 7 per cent in Australia, the chilling RBA cash rate at 4.1 per cent, and a brutal rental crisis churning the mix, it's become a slight relief to spend more and save less for some lucky few. However, for the majority, more dramatic measures have to be taken to keep from drowning in these tumultuous economic waters.

Gemma Bates-Smith, 32, a teacher’s aide and a Queensland mum of two, narrates a tale that strikes an all too familiar chord for many. Despite what she considers a 'good' wage in her current profession and her husband's full-time job, the spiralling cost of living has compelled her to slip into a part-time role at food delivery service, DoorDash, to keep her family afloat.

'A year ago, my income combined with my husband’s was more than enough. Now, we can’t survive on that alone,' she candidly revealed to news.com.au, highlighting how their once stable financial status had reduced to living week by week.

The Bates-Smith family isn't alone in turning to DoorDash to alleviate financial strains, with a reported 29 per cent of the service's workforce taking up such 'side hustles'.

To add salt to the wound, the cost of living certainly hasn't spared our valued retirees either—it's nudging them out of the comfort of their twilight years and shoehorning them back into the workforce.

Case in point, pensioners Peter Negro, 74, and Glenice Negro, 73, had once relished travelling across Australia in their caravan, broadening their horizons while living the dream. But as the ugly head of inflation reared, their grey nomad dream quickly evaporated into a bitter reality check. From power bills to the humble grocery run, every essential seemed like an uphill battle, pushing the couple to consider selling their beloved caravan and giving up on their retirement aspirations.

Instead of surrendering, the resilient pair snagged delivery driver roles at DoorDash, rolling up their sleeves in their 70s to work three or four days a week.

For them, it wasn't just about saving their caravan; it became a fight to maintain their basic living standards. Succinctly illustrating the crisis, they said, 'We are in our seventies, and there are still plenty more adventures waiting for us.'

Even in the face of their predicament, they expressed gratitude for being healthy enough to return to the workforce.

'Despite our circumstances, we feel very fortunate that we're able to go back to work at our age so we can continue to do what we love, even if we cannot get away as much as we used to,' they added.

Key Takeaways

• The cost of living crisis is impacting Australians, forcing them to take on extra work, work longer hours, or come out of retirement to make ends meet.
• Inflation has spiked to 7% in Australia, which coupled with a 4.1% RBA cash rate and severe rental crisis, has affected nearly every Australian's financial stability to some extent.
• The rising cost of living is forcing retirees back into the workforce.
• Retired couple Peter and Glenice Negro had to return to work in their seventies due to the growing cost of living crisis, after initially enjoying their retirement travelling around Australia.

Remember, during these challenging times, it’s important to learn from each other, explore all available resources, and remain vigilant and mindful. We must do our best to navigate these choppy economic waters with tenacity and resolve! After all, retirement should be full of adventures, not adversities.

Members, we now want to hear from you. Have you had to go back to work due to the current economic climate? Or maybe you can’t go back to work and have had to find another way to make things work. Tell us all about it in the comments section below.

I wish I could go back to work, unfortunately the government rules and regulation s prevent that. If the government froze your pension and then just taxed you on your with perhaps paying an extra small percentage i.e 1% tax on your earnings, then perhaps you might get a few more coming back into the workforce. I can no longer run around waiting tables, let alone working in the building industry I work in the kitchen cleaning pots and pans (pearl diving) plus I haven't lost my knife skills. But under the present system it's not worth it.

 

[Luckyus]

as a retired plumber of 72 years on the pension my body will not allow me to work so i have to learn to exist the poverty line.

Perhaps you could earn a crust teaching the youngun's!!

 

[Andrew]

Since retiring l do voluntary work. Doing the same thing that younger paid workers do. Retirees should be allowed to ern as much as they like without being penalized. It's little wander that many of the old skills are disappearing as us "old-timers" are not around to teach the young ones.

 

[London Lad]

I've worked all my life...now retired BUT am pleased to work casually. However, I pay tax on my part time wage, and my pension gets reduced... In most other civilised countries, if you've earnt your pension, that's what you get...the full amount. Government is double dipping....getting tax from my casual job PLUS reducing my pension.!!! I know it's not exclusive to me either... so how can we rectify the situation, My Federal Member of Parliament is indifferent !!!!! Any suggestions to rectify situation for ALL of us pensioners?????

 

[Draper]

It’s a heart-wrenching story we are all becoming too familiar with. Australians, hitting the supposed golden years of their life—the retirement phase, are being compelled to shelve their hard-earned leisure and return to the grindstone. Necessity, they say, is the mother of invention, and in this case, it's the cost of living crisis that's the stern matriarch pushing retired Aussies back into the laborious workforce.

Dolly Parton once crooned about the struggle of working from 'nine to five', but fast forward to 2023, the predicament has become vastly graver than the whimsy of a song. Australians are struggling to make ends meet from their regular nine-to-fives, a condition that a report by Finder has highlighted. It found that a staggering 24% of Aussies are either clocking in extra hours at work or coming out of retirement, all in an attempt to keep the wolf of inflation at bay.

View attachment 26056

Has your retirement been ruined? Image source: Shutterstock.

With inflation shooting up to 7 per cent in Australia, the chilling RBA cash rate at 4.1 per cent, and a brutal rental crisis churning the mix, it's become a slight relief to spend more and save less for some lucky few. However, for the majority, more dramatic measures have to be taken to keep from drowning in these tumultuous economic waters.

Gemma Bates-Smith, 32, a teacher’s aide and a Queensland mum of two, narrates a tale that strikes an all too familiar chord for many. Despite what she considers a 'good' wage in her current profession and her husband's full-time job, the spiralling cost of living has compelled her to slip into a part-time role at food delivery service, DoorDash, to keep her family afloat.

'A year ago, my income combined with my husband’s was more than enough. Now, we can’t survive on that alone,' she candidly revealed to news.com.au, highlighting how their once stable financial status had reduced to living week by week.

The Bates-Smith family isn't alone in turning to DoorDash to alleviate financial strains, with a reported 29 per cent of the service's workforce taking up such 'side hustles'.

To add salt to the wound, the cost of living certainly hasn't spared our valued retirees either—it's nudging them out of the comfort of their twilight years and shoehorning them back into the workforce.

Case in point, pensioners Peter Negro, 74, and Glenice Negro, 73, had once relished travelling across Australia in their caravan, broadening their horizons while living the dream. But as the ugly head of inflation reared, their grey nomad dream quickly evaporated into a bitter reality check. From power bills to the humble grocery run, every essential seemed like an uphill battle, pushing the couple to consider selling their beloved caravan and giving up on their retirement aspirations.

Instead of surrendering, the resilient pair snagged delivery driver roles at DoorDash, rolling up their sleeves in their 70s to work three or four days a week.

For them, it wasn't just about saving their caravan; it became a fight to maintain their basic living standards. Succinctly illustrating the crisis, they said, 'We are in our seventies, and there are still plenty more adventures waiting for us.'

Even in the face of their predicament, they expressed gratitude for being healthy enough to return to the workforce.

'Despite our circumstances, we feel very fortunate that we're able to go back to work at our age so we can continue to do what we love, even if we cannot get away as much as we used to,' they added.

Key Takeaways

• The cost of living crisis is impacting Australians, forcing them to take on extra work, work longer hours, or come out of retirement to make ends meet.
• Inflation has spiked to 7% in Australia, which coupled with a 4.1% RBA cash rate and severe rental crisis, has affected nearly every Australian's financial stability to some extent.
• The rising cost of living is forcing retirees back into the workforce.
• Retired couple Peter and Glenice Negro had to return to work in their seventies due to the growing cost of living crisis, after initially enjoying their retirement travelling around Australia.

Remember, during these challenging times, it’s important to learn from each other, explore all available resources, and remain vigilant and mindful. We must do our best to navigate these choppy economic waters with tenacity and resolve! After all, retirement should be full of adventures, not adversities.

Members, we now want to hear from you. Have you had to go back to work due to the current economic climate? Or maybe you can’t go back to work and have had to find another way to make things work. Tell us all about it in the comments section below.

 

[Draper]

If you are over the retirement age and on the aged pension you should be able to work and be placed in a special minimal tax bracket. The government should increase the amount you can earn without affecting your aged pension. If you want to continue paying private health insurance then you should be able to claim this against the income you earn above the pension.

 

[Alicat09]

These stories about struggling families, I would love to know their budget, their spending, their lifestyle, their anything. Honestly, our shopping has not increased that much, we budget for our utilities, because they have informed us of new prices, and we are coping.

Their rent or mortgages have increased by hundreds of dollars per month. They have kids who probably attend activities, grow out of clothes, schools fees and child care etc. Every situation is different, you can't compare apples to oranges or pears to bananas.