80-Year-Old Full-time Worker Feels Blessed Despite Having $37 in Savings and Over $70K in Debt

Nevada resident Sandy McConnell, a full-time accounts receivable specialist who earns £36,454 ($50,000) annually, thinks it is sad that people her age have to work so late in life. With £26 ($37) in savings and over £51,035 ($70,000) in debt, she wonders if her situation is because of poor management in earlier years, the surrounding circumstances in life, or a lack of financial guidance.

In an interview with Business Insider, McConnell said she works because she has been single since 1997 and has a mortgage, a car payment, and high levels of credit card debt. The senior explained she avoided opting for 401(k)s with some of the companies she worked for, thinking she would need the money at present and not 10 years later.

Starting Work at an Early Age

McConnell landed her first job as a part-time cashier at age 16. She had a baby a year after marrying a person in the Navy in 1962. She would work as a full-time checker while her husband was on deployment.

She switched her job to head cashier at a different grocery store after having another child, spending the 1960s working at different grocery store jobs. 'My last child was born in 1971. My husband left when my kids were little, and he wouldn't pay child support. Financially, I was always strapped,' McConnell said.

Her experience as a cashier helped her secure a job as a credit manager at a jewellery store a few years later. She then became a credit manager at a construction firm, where she worked for several years. After multiple credit management jobs in Las Vegas, she lost the one at a building supply company before the 2020 pandemic.

A String of Unfortunate Family Incidents

Living paycheck to paycheck her entire life, McConnell had limited scope of savings, given that at one point she was taking care of 13 family members due to dire circumstances in the early 2000s. While they eventually moved out, the financial impact on McConnell drove her to file for bankruptcy in 2004.

Decades later, she filed for bankruptcy again in 2021. Her youngest son was living with her in 2022 after a falling out, and his job as a city bus driver allowed him to help her financially, until he suddenly collapsed from a massive heart attack one day.

McConnell's eldest son and grandson started living with her after the incident. Unfortunately, the oldest son suffered a stroke in December 2023 and was not in a condition to work, which compelled McConnell to use credit cards to support the grandson; a massive blow to her slim chances of retiring. To make things worse, she covered her son's medications and therapy as he didn't have insurance at the time.

Once they moved back to Oklahoma in June 2024, McConnell's daughter moved in with her after a difficult divorce. However, the daughter is able to help her financially.

A Glimpse Into McConnell's Finances

The 80-year-old said her current job is a busy one, but luckily, she is able to work from home. She earns £1,300 ($1,784) monthly from Social Security income and owns her home, valued at almost £291,632 ($400,000).

She is trying hard to clear her debt, but ends up using credit for unforeseen situations that keep coming up. 'I put money in my bank account every month, but right now I have $37 in my savings account,' she said.

While she had 401(k)s from previous jobs, McConnell said she never had enough in them to say, 'I can retire.' While the senior can retire if she sells the home, she doesn't understand where she will go after that.

'Now I find myself at 80 still needing to work. Part of that is financial, and part of it is because I would be bored; if you don't have any money to do anything with, what are you going to do? Your house can only get so clean,' she explained.

McConnell has a £29 ($40) monthly membership to play in an online poker league every night. 'I don't play for money; I used to gamble, but I can't really do that anymore. I play for points,' she explained. 'You earn tokens, which you can use to play in cash tournaments. I play in many charity tournaments, especially for autism.'

She claimed she doesn't have high expenditures, instead visiting bargain stores and buying reasonably priced items, spending up to £145 ($200) monthly on groceries and another £72 ($100) on essentials. 'I can put $5 in my wallet, and it lasts me forever,' she said.

Despite her financial ordeal, she is satisfied with what she has. 'I'm more blessed than a lot of other people I know,' McConnell said. 'I have great-grandkids in town, so I like to visit and spend some time with them. Anything family-oriented is always great, whether it's going to somebody else's house, a dinner, or a barbecue.'