How Part-Time Jobs and Better Student Debt Payment Plans Give Baby Boomers Peace of Mind, Reports Ameritech Financial

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Jun 29, 2018, 01:00 ET

ROHNERT PARK, Calif., June 29, 2018 /PRNewswire/ -- Many studies and articles suggest that baby boomers haven't saved for retirement. Plus, student loan debt could worsen the situation and Social Security also has an uncertain future. Yet, older adults heading for retirement have options. For instance, there are many part-time jobs that could use their experience. Retirees could gain new skills to become better equipped for the job market. The part-time jobs with the most openings and highest earnings are teachers. Their average salaries are $54,406. Older adults with federal student loan debt could learn more about income-driven repayment plans (IDRs) through the Department of Education, which could help lower their monthly payments. Ameritech Financial is a document preparation company that aligns clients with the best program for them, regardless of age. The company helps each borrower apply for programs that are intended to offer more affordable monthly payments with the ultimate goal of loan forgiveness should the borrower remain in the program for up to 20 or 25 years.

"There are many factors that led to the current situation facing baby boomers. It can be a frightening time, not knowing if they will be able to make ends meet or how much the government will support them," said Tom Knickerbocker, executive vice president of Ameritech Financial. "If they are paying off student loan debt, they could look into their options with repayment plans. Lower monthly payments could make a big difference in their lives."

If baby boomers need to go back to work, there are other jobs they could consider. Self-enrichment teachers and home care aides make roughly $31,530 and $17,020, respectively. These jobs offer more than wages to help meet their basic needs. One study suggests a working retirement reduces isolation, boosts mental health and increases physical health. Increased isolation in retirement could lead to depression and dementia. Overwhelming debt can also cause anxiety. Retirees with student loan debt should look into income-driven repayment plans.

Why are baby boomers struggling with retirement savings? They believed pensions and Social Security would take care of them in their later years. Today, only 10 percent of boomers can expect wages from defined-benefit programs. Twenty years ago, 50 percent or more of the aging population left work with pension earnings. No one could have anticipated that baby boomer needs and expectations wouldn't be fully met. Older retirees have options for their student loan debt.

"It isn't every person's dream to have to work during their retirement. But it could have positive benefits for their mental health and bank account," noted Knickerbocker. "Ameritech Financial assists borrowers of all ages. Our hope is that our assistance can provide a better chance of finding and applying for a program that will decrease your monthly debt payments by a great amount."

About Ameritech Financial

Ameritech Financial is a private company located in Rohnert Park, California. Ameritech Financial has already helped thousands of consumers with financial analysis and student loan document preparation to apply for federal student loan repayment programs offered through the Department of Education.

Each Ameritech Financial telephone representative has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).

Ameritech Financial prides itself on its exceptional customer service.

Ameritech Financial Newsroom

Contact

To learn more about Ameritech Financial, please contact:

Ameritech Financial
5789 State Farm Drive #265
Rohnert Park, CA 94928
1-800-792-8621
[email protected]

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Older Person Deciding Whether to Retire or Keep Working
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SOURCE Ameritech Financial