Over Fifty, Overdrawn
27 Min PBS Special - "Over Fifty and Overdrawn"
The economic crisis is affecting people in all income and social brackets, but America's baby boomers and seniors don't have the option to wait it out.
The housing meltdown, market crash, and rising costs of everything from food to medicine have taken the luster out of seniors' "golden years" or worse, put them into deep debt. In fact, Americans over 50 account for about a quarter of all delinquent mortgages.
Some baby boomers and seniors are reluctantly exiting retirement to look for jobs, while others are falling prey to predatory lending companies.
This week NOW travels to South Carolina, a state where many retirees and winter refugees are being forced to rewrite the last chapter in their lives, to see how they are coping and what options are left.