Letter-writer Liz Farler is only partially right when she claims a combination of stagnating wages, rising cost-of-living expenses, and declining pension benefits are adversely affecting retirees (Retirement security needed, Letters, May 16).
She could have also added this demographic group has also fallen victim to low interest rates, which have proven to be a double-edged sword.
These rates are enticing retirees to spend too much and take on too much debt in the attempt to maintain unsustainable lifestyles. They provide rock-bottom rates of return on fixed-income investments, which impedes the recovery from the 2008-09 economic downturn.
As a result, more and more seniors are carrying some form of debt, which ultimately must be paid off -- even if it has to come out of their estate after their death.