Low-wage jobs for older workers
A growing number of older Americans are unable to retire. Approximately 62 percent of Americans have less than $1,000 in their savings accounts, and 21 percent don’t even have a savings account. If you are approaching retirement age and expecting your Social Security to fund your retirement, you are sorely mistaken. Consequently, many people of retirement age are needing to either continue working or are returning to the workforce. Unfortunately, most retirees are finding it tough to land a reasonable job. Many are stuck tacking menial jobs. You may have thought that low-wage jobs were mainly for young people. Think again. More than 27 percent of full-time workers over 55 years old held low-wage jobs, compared with 19 percent of younger workers. [CBS News]
How do you know it’s an election year? Gun sales are on the rise.
FBI background checks for gun sales in the USA for the first ten months of 2016 have already exceeded prior years. For that matter, a new report from Politico notes that fear-induced sales for a wide range of apocalypse and survivalist merchandise has been soaring. And while most of the customers buying such goods are supporting Donald Trump for president, buyers assume the worst is coming no matter who wins the election. [Money]
An $8,000 electric car
In just two years, there may be an $8,000 electric car. The Renault-Nissan CEO said that the group’s Leaf electric car, which starts at just over $29,000, was too expensive in China and that was why there was a need for a low-cost alternative. “We are at a price point where the sales are just not taking off. So what we decided is go after the market … we are developing a very cheap electric car. Cheap means involving a price point where these cars are selling in China which is about $8,000,” Ghosn said. [CNBC]