Cheryl Simmons, a parking lot attendant, lives in her car but makes too much for affordable housing.
She lives in her car, even though she makes about $42,000 a year.
She makes slightly too much for a single-room occupancy unit in affordable housing and exceeds the income limit for food stamps and other government assistance.
AdvertisementSimmons is one of the 30 million "peak boomers" entering retirement age in the next few years, but most are not financially prepared to retire.
A new report from the Alliance for Lifetime Income's Retirement Income Institute found that 52.5% of peak boomers have below $250,000 in assets.
Persons:
Cheryl Simmons, Simmons, —, she'll, she's, ALICE —, ALICE, it's
Organizations:
Service, Alliance, Lifetime, Assistance, Food
Locations:
San Diego, Albuquerque, California, Texas