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Jill on Money with Jill Schlesinger

Senior Roommates

Jill on Money with Jill Schlesinger

Audacy

Investing, Education, Business, Self-improvement

4.61.9K Ratings

🗓️ 17 January 2020

⏱️ 7 minutes

🧾️ Download transcript

Summary

Senior citizens are getting creative to make ends meet financially: getting roommates. More than 33% of Americans age 65 and over do not have any money saved for retirement. In 2016, 70% more seniors lived with roommates than a decade before. Check out my story for CBS This Morning about two strangers in New York who took a cue from the “Golden Girls” and moved in together to save money.

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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to the Jill on Money Podcast and it is a bonus episode. Here's something cool,

0:09.2

it's in two pieces. First is a segment I did for CBS this morning where I interviewed these two

0:15.2

guys who are sharing their living expenses and then out of that piece we bounce to

0:20.3

a discussion at the table with Gail King, Tony De Koppel and Anthony Mason.

0:26.2

So here is my segment on senior roommates.

0:30.1

I hope you enjoy it.

0:31.0

In today's eye on money. Senior citizens are getting

0:33.8

creative to make ends meet financially. Many are getting roommates. More than

0:37.6

33% of Americans over the age of 65 and over do not have any money safe for retirement.

0:43.4

That's not good.

0:44.4

In 2016, 70% more seniors live with roommates than a decade before.

0:49.2

CBS News business analyst Jill Schlesinger met two strangers who took a cue from the Golden Girls.

0:54.4

They moved in together in New York to save money.

0:57.0

Hey, hey, I can't hear the TV with the record going.

1:03.0

Living with roommates...

1:04.0

If you want to live here, I don't want to see you, I don't want to hear you, I don't want to smell you cooking.

1:09.0

It's not just for the Golden Girls.

1:11.0

We'd sure save a lot of money.

1:13.2

Just ask Paul Covington.

1:15.0

Since retiring about six years ago, he's relied exclusively on Social Security without any savings.

1:21.8

The 81-year-old needed help paying his mortgage, so Jim English, a perfect stranger, moved in.

1:28.0

We signed an agreement. So this was more of a formal process which I liked a lot.

...

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