: This 72-year-old hopes to retire one day — as soon as she raises enough money on GoFundMe

by | Jan 26, 2023 | Stock Market

GoFundMe campaigns have been raising piles of cash for older Walmart workers who want to retire — but the heartwarming stories about sudden windfalls mask a dark reality about economic security and growing old in America, say retirement experts. “This is not a feel-good story, this is about the failure of our retirement system,” said Teresa Ghilarducci, a labor economist at the New School, about the spate of GoFundMe campaigns supporting older Walmart workers.

‘Stories of strangers helping elderly workers’ Fundraisers for aging Walmart
workers have appeared on GoFundMe over the years, but they started popping up more frequently last summer and gained momentum during the holidays, a GoFundMe spokeswoman told MarketWatch. The campaigns are typically started by someone who has either seen a baby-boomer-or-older employee working at their local Walmart, or someone who has an older loved one working at the store. The appeals usually feature a photo of the worker in their store vest and name tag. Some describe situations where people in their 80s and 90s are working because they need to pay off medical bills. Others simply say they’re trying to give an older person who’s been working most of their life some peace of mind and relaxation. (Walmart did not respond to requests for comment for this story.) After T …

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