There are three things about getting old that make it worth the wait.
I don’t remember when it exactly happened (lately, I know for sure), but I have new-found wisdom, so people tell me. As a stroke survivor, that is mighty good. My thoughts and what comes out of my mouth are clever and intuitive. (Huh! Did I say that?)
Then there’s the second thing–deals for seniors. Did you know, for example, that:
| Retailer |
Discount |
In-store or online |
Eligibility |
Discount availability |
| Amazon Prime |
50% off Prime membership |
Online |
Must be a qualifying government assistance recipient, including SSI and SNAP |
Every day |
|
Bealls Coast2Coast Rewards |
10% off your purchase |
In-store |
No age requirement |
Tuesdays |
|
Big Lots Big Rewards |
Cash-back rewards, VIP shopping day discounts, and a birthday surprise |
In-store or online |
Must create a Big Lots account |
Every day |
|
CVS ExtraCare |
Earn 2% back in ExtraBucks Rewards every time you use your ExtraCare card |
In-store or online |
CVS ExtraCare card member |
Every day |
|
CVS Veterans Advantage |
20% off your purchase |
Online |
VetRewards member |
Every day |
|
Home Depot |
Price match guarantee |
In-store or online |
No age requirement |
Every day |
| Goodwill Senior Savings Day |
10% off your purchase |
In-store |
60+ years |
Tuesdays |
|
JOANN Senior Discount Day |
20% off your purchase |
In-store |
55+ years; must present a state-issued photo ID for proof of age upon checkout to receive discount |
Check your local JOANN store for their senior day schedule |
|
Kohl’s |
15% off your purchase |
In-store |
60+ years; must present a state-issued photo ID, which is required at checkout |
Wednesdays |
|
Lowe’s Veteran Program |
10% off your purchase |
In-store and online |
Military veterans must first enroll online; valid photo ID required at checkout |
Every day |
| Ross Dress for Less 55+ Program |
10% off your purchase |
In-store |
55+ years; must provide a photo ID at checkout |
Tuesdays |
| Michaels |
10% off your purchase |
In-Store and Online |
55+ years; Must create a Michaels Rewards account |
Every day |
| Red, White, and Blue Thrift Stores Senior Citizen Day |
50% off your purchase |
In-store |
55+ years |
Wednesdays |
| Rite Aid wellness 65+ |
Earn 5x points, in-store purchases that day. Free pharmacist consultation to review medications, immunization needs, blood pressure screening, and Medicare Part D questions |
In-store |
65+ years; must enroll in-store for the wellness65+ and be a wellness+ member |
First Wednesday of each month |
| Savers |
Percentage varies by store location |
In-store |
55+ years |
Tuesdays |
| Tanger Outlets |
Free Tanger coupon book with up to $1,000 in savings |
In-store |
AARP member |
Every day |
| Walgreens Seniors Day |
20% off eligible items and cash rewards |
In-store and online |
55+ years or an AARP member; must create a myWalgreens account |
Check your local Walgreens for their senior day schedule |
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And finally, the third thing: Social Security. Supplemental Security Income, otherwise named SSI, turned 87 years old, is the largest source of income for most retirees, but only 43 percent of Americans are sure SSI will continue in the future.
That’s because the fix is in the hands of the Republican-led United States Congress who, in large part, think that personal savings are more important than relying on SSI alone. Thus, with SSI as it’s set up now, most on both sides of the aisle, the funding will run out in a decade or so.
But without Social Security benefits, 21.7 million more Americans would be below the poverty line, according to the Center on Budget and Policy Priorities, as well as Social Security Disability Insurance (SSDI) which help pay the monthly bills for retired and qualified disabled workers and their families.
Trouble is right around the corner. SSI and SSDI will be out of money in 11 years, according to the latest report from Social Security’s trustees and calculations which show that the program would cover only 80 percent of benefits.
Congress is dragging its heels, thinking that somewhere around 2035 is a long way off. But based on recent calculations, if nothing is done to stop it, the funds will run dry in 2034.
The picture looks better from another point of view. One reason is from 1940 to 2019, life expectancies at age 65 have increased by about 6.5 years. SSI, the proponents say, isn’t going to stop entirely for it will be covered by the payroll taxes coming into the system.
Thus, Congress will have to raise taxes or modify benefits or do some of both. Some have suggested doing away with the entire program and converting it to individual account plans similar to a 401(k) retirement program, that is, you contribute a portion or all of your current payroll taxes to a retirement account that you manage yourself. Thus, your choices matter.
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Wisdom and senior deals are one thing that are fun to encounter, but 21.7 million more people going below the poverty line if SSI evaporates is friggin’ scary.
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As Dr. Phil says, “Don’t wait until you’re in a crisis to come up with a crisis plan.”
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And Congress is waiting.
