Cherie, a 63-year-old San Bernardino, California resident, has been surviving on dwindling savings since 2007. And she\u2019s down to her last few thousand. Concerned, she called into The Ramsey Show for some advice.<\/p>\n
With multiple disabilities that prevent consistent work, she lives in a fully paid-off home held in a trust<\/a>. She carries zero debt and spends roughly $1,000 a month on essentials, living diligently within her budget<\/a>, paying only utilities, insurance and food (supplemented by food stamps<\/a>).<\/p>\n \u201cI\u2019ve burned through nearly all my savings and I\u2019m down to $4,000,\u201d she confessed on her recent call to The Ramsey Show.<\/p>\n She cannot claim Social Security retirement benefits until age 67 and repeated disability-benefit denials have left her without another reliable income source.<\/p>\n Don’t missPrioritize income over equity<\/p>\n Cherie asked if she should borrow against or sell her trust-held home to gain more money.<\/p>\n \u201cDon’t borrow against it because that’s now putting the one thing that you have that’s safe and secure at risk because income is an issue for you, so you don’t want to do anything that will add debt<\/a> to your life,\u201d cohost Jade Warshaw advised.<\/p>\n Instead, they urged her to generate modest but essential income through part-time remote work<\/a>.<\/p>\n \u201cYou sound great on the phone,\u201d said cohost Ken Coleman. The hosts recommended customer service roles that require only a headset and about four hours of work per day.<\/p>\n Warshaw mentioned her own experience working flexible hours on platforms such as arise.com<\/a>, which allow workers to choose short shifts without competition. This is ideal for someone who hasn\u2019t held a traditional job in years but needs flexibility due to health challenges.<\/p>\n They also advised Cherie to apply immediately for Supplemental Security Income (SSI), which averages about $718 monthly<\/a> for all recipients (that number is slightly higher for someone aged 63, averaging $764). This will allow her to cover roughly two-thirds of her current expenses while bolstering her application for Social Security at age 67.<\/p>\n Read more: You don\u2019t have to be a millionaire to gain access to this $1B private real estate fund<\/a>. In fact, you can get started with as little as $10 \u2014 here\u2019s how<\/strong><\/p>\n Increase income when retirement isn\u2019t an option yet<\/p>\n Cherie\u2019s predicament isn\u2019t unique. Nearly half of Baby Boomers<\/a> (49%) are working past age 70<\/a> and do not plan to retire. Their situation is driven as much by financial necessity (82%) as by a desire to stay active (78%).<\/p>\n Pew Research data<\/a> backs this up, and notes it as a growing trend for those aged 65 and older. While, in 1987, only 11% of Americans in this age group were working, in 2023 that number was up to 19%.<\/p>\n Part of the reason is that many Americans do not have sufficient savings to retire (the latest number puts these at $1.26 million<\/a>). By contrast, the Federal Reserve<\/a> found the median retirement savings<\/a> among Americans ages 65 to 74 is just $200,000 as of 2022, the last year for which data is available.<\/p>\n While the average retiree\u2019s Social Security benefit hit a record $2,002 per month in May 2025<\/a>, many cannot afford to wait or don\u2019t qualify due to limited work history.<\/p>\n For seniors like Cherie, experts recommend treating job seeking as a strategic project:<\/p>\n Apply for SSI and appeal disability denials:<\/strong> Even partial SSI support about $700\/month) can ease immediate cash flow.<\/p>\n<\/li>\n Launch remote job searches tonight:<\/strong> Sites such as arise.com<\/a> and flexjobs.com<\/a> list customer service, data-entry and tutoring roles that require minimal qualification and offer flexible hours.<\/p>\n<\/li>\n Track and adapt:<\/strong> Keep a simple spreadsheet of applications, follow up weekly and tweak your pitch to emphasize reliability and interpersonal skills over technical credentials.<\/p>\n<\/li>\n Plan for Social Security at 67:<\/strong> You can delay full retirement age and raise benefits by up to 8 percent annually, which can make a long-term difference in your retirement situation.<\/p>\n<\/li>\n<\/ul>\n Cherie owns her home outright and has no debt. \u201cYou got to happen to this problem,\u201d says Coleman. Her next step, he says, is to increase her income until she qualifies for more retirement benefits.<\/p>\n \u201c Sum it all together and say, \u2018I\u2019m not going to be a victim here. I’m going to take control.\u2019 And you can, but you have to go after it,\u201d Coleman said.<\/p>\n With that pragmatic plan, Cherie may transform her precarious situation into a sustainable next chapter.<\/p>\n What to read next<\/p>\n\n