by Diane Perez

Created on: July 14, 2009

A significant number of people, especially women, have entered retirement with only a small savings account, if any. They are among the millions who have worked at low-paying jobs their entire lives. Many have worked for small companies and are not covered by a pension plan. They generally do not own their homes and therefore have no equity to tap for retirement. Some have not had health insurance nor decent medical care throughout their lives until Medicare begins at age 65. This group has the double penalty of usually having little more than monthly social security payments to live on yet they are among the least healthy to continue working. Here are ways that a struggling retiree can cope with current inflation.

1. Rent a room in the home of another retiree. Not only is this option much less expensive than renting an apartment, but there is the possibility of genuine friendship since both people are close in age and therefore have some common experiences. In addition, they will be able to help each other to perform chores around the house, share shopping and cooking, and care for one another during sickness. Since rent is the biggest part of everyone's budget, reducing this cost will make a significant contribution to coping with current inflation.

2. Take advantage of the free programs at the community senior center. Many offer a free meal (usually lunch) as well as companionship and entertainment. This will help to stretch the food budget which can be almost non-existent after paying for medicine.

3. Public libraries and some of the larger community centers offer classes for seniors so they can become computer savvy. The retiree should make every effort to enroll in these computer classes as he will learn the necessary skills to earn an income online. He does not need to come up with hundreds of dollars to buy a computer. The library allows free usage for patrons in good standing.

4. Another advantage of having a library card is the ability to check out music and videos in addition to books. The retiree will not have to use any retirement dollars for entertainment yet still have some enjoyment in his life.

5. Planning meals for the entire month will prevent running out of food before the next social security check. Plan progressive menus so that every scrap of food is used. A progressive menu starts with a piece of meat, in this example a whole chicken. On the first night the chicken is roasted. The cooking broth is strained

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