Each time there is a shift in the demography and financial system of the country, the seniors or retired persons get hit the most. It is so because several factors are at play such as lack of credit, lack of income, unemployment, and no savings, or retirement savings account to fall back to. It is equally known that as the financial market shrink, the savings and economy of retired persons on fixed income are greatly affected. Sometimes to the extent they cannot afford basic financial needs like as food, shelter, transportation, medicine and other pressing necessities.
Now because of the worldwide pandemic the financial institutions are downsizing thereby further limiting financial availability and credit particularly to the unemployed and retired persons on fixed income. Our financial literacy program is essential to the survival of people on fixed income particularly those of African descent who have prescribed their interment in their ancestral homeland.
In these hard or critical economic times, our financial advisement can help to improve confidence and with minimal moral support, low income and financially challenged retirees can live a happy life.