"Faber and his wife have about $6,000 in expenses each month. They haven't taken any big vacations in years, only go out to eat a couple of times a month."
"Faber, who was 77 at the time of his interview, stated, 'I should be retired at my age,' highlighting the challenges he faces with his financial situation."
Hank Faber, 77, drives his 2009 Volvo semi-truck to cover monthly expenses of about $6,000, relying on his trucking income and Social Security. He regrets spending retirement savings on a vacation spot, lacking a 401(k) due to self-employment. With nearly a million miles driven accident-free, he remains dedicated to trucking despite health concerns impacting his income. A BofA survey indicates that 25% of households spend over 95% of their monthly income, reflecting a broader trend among older Americans struggling financially.
Read at Business Insider
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