Struggling in retirement | Wichita Eagle

Some are figuring out how to make retirement income stretch. Others are starting out with plans and dreams ? of finding the right job, buying a home. The Wichitans interviewed for this story all want to get on with their lives and succeed in a challenging economy.

In her home in north Wichita, Cheri Preston held up a booklet full of clipped coupons that was several inches thick.

That is just one of the cost-saving methods she and her family rely on to get by. They also grow their own vegetables, search for sales, freeze foods, don?t eat out except on special occasions, and take only short vacation trips to save on gas and hotel expenses.

Preston, 57, has physical disabilities that don?t allow her to work. Her husband, Lewis Preston, 61, worked for the phone company for 40 years before retiring three years ago as a cable splicer. They live on his pension. He is a year away from being able to collect Social Security.

They also are raising two teenage granddaughters. They adopted one, and the state placed the other in their custody.

When Lewis Preston retired, they thought they?d be fine.

?We really thought the money we had set aside was going to be more than enough,? Cheri Preston said. ?We paid off our house, paid off our vehicles, paid off all our loans. But who knew groceries and energy and gasoline and water would go to the ridiculous amounts they are??

She hadn?t planned on her health problems either, and although they still have health insurance through his former company for another year, her care and prescription medications are expensive, she said.

?It?s tight, but we do get by,? Lewis said.

Cheri Preston said they worry about taxes on their retirement income, and fear being forced into a higher bracket in January by President Obama?s tax policies.

?We won?t be able to make our living expenses, let alone our medical bills,? she said.

In her view, the country?s economy is going under.

?You can?t bail enough to keep the ship from drowning,? she said.

They home-school their granddaughters and teach them to cook and can foods. The kids have everything they need, the Prestons said. Family members buy luxury items for them that the Prestons used to buy for their own children.

?It normally would?ve been no big deal for us when our kids were little to just go out and buy what they want and give it to them,? Cheri Preston said. ?Things were not nearly as expensive then.?

Both Prestons are Romney supporters. The Prestons believe that the economy will continue to deteriorate under Obama, and that Romney can at least slow the decline.

?Romney has a record of being able to run businesses,? Lewis Preston said. ?Obama has never run one.?

Source: http://www.kansas.com/2012/11/03/2555798/struggling-in-retirement.html

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