At 61, Alexander Remus has pared his life right down to the necessities. He lives on a modest pension, avoids eating places, and permits himself only one go to to a movie show a month “to stay sane.” Even his prescriptions for a power well being situation aren’t assured — some months, he skips doses to stretch his finances.
The sacrifices are painful, however he mentioned they’re the one solution to sustain with the price of dwelling as a retired freeway upkeep employee who resides in a San Jose senior dwelling complicated.
“At the end of the month, there’s just not enough left over to cover all my bills,” Remus mentioned.
Alexander Remus poses for {a photograph} in his condominium in San Jose, Calif., on Monday, Oct. 6, 2025. (Nhat V. Meyer/Bay Space Information Group)
Older adults are California’s fastest-growing demographic, based on the state Division of Ageing. By 2030, about 25% of the state’s inhabitants will probably be 60 or older. The wants of this demographic are more and more shaping the state’s financial system, social material and its politics.
The Bay Space is a punishing place to develop previous on a set earnings. The price of dwelling is greater than the nationwide common, and the price of a home is twice that of the nationwide common, based on a 2025 report from the state’s Legislative Analyst’s Workplace.
“This is a fabulous place to live for the high flyers,” mentioned Russell Hancock, president and CEO of Joint Enterprise Silicon Valley. “But for everyone else, this is a tough place to make it happen.”
Most ballot respondents reported making monetary sacrifices simply to remain afloat. Most (83%) reported chopping again on leisure and eating out, 72% had delayed main purchases, 64% had pared down on groceries or different necessities, and 60% tapped retirement or different financial savings to cowl bills. Half mentioned they’ve taken on debt or leaned on bank cards.
For a lot of older adults, these cutbacks translate to bare-bones dwelling. Retiree Jeanette Lazam, 76, who was a district supervisor for former Rep. Barbara Lee when she was in Congress, mentioned she lives on a shoestring in San Francisco’s Worldwide Lodge, a low-income senior housing complicated. She struggles to purchase groceries, and the day journeys that when introduced her pleasure like scenic drives alongside the coast to Monterey have been lowered to brief excursions throughout the Bay Bridge. Serving to help her brother, a senior with developmental disabilities in Hayward, stretches her already skinny finances additional. Regardless of dwelling from one Social Safety examine to the subsequent, Lazam faces all of it with quiet resilience.
“I manage,” she mentioned. “Even when things get very difficult for me, I still maintain a positive attitude.”
Between stretching her {dollars} and paying off a “never-ending cycle” of bank card money owed, Lazam tries to savor the small joys in life. Some months, she takes her brother out for lunch Hawaiian barbecue in San Leandro is their shared favourite. She additionally depends on three shut buddies who assist her financially to get by particularly robust months. In accordance with the ballot, 41% of retirees have requested household or buddies for monetary assist inside the previous 5 years.
The ballot additionally requested retirees to establish their major sources of earnings. Greater than 4 in 5 (82%) mentioned they depend on Social Safety. The subsequent commonest sources had been retirement accounts similar to 401(ok)s (42%) and employer pensions (40%).
As probably the most populous U.S. state, California is residence to the nation’s largest share of Social Safety recipients, with about 6.3 million residents accumulating roughly $115 billion a 12 months in advantages, based on the Social Safety Administration. Whereas the state doesn’t tax Social Safety earnings a reduction given its steep earnings tax charges it taxes different retirement earnings, together with pensions and 401(ok) withdrawals. Mixed with a number of the highest gross sales taxes within the nation, that makes it one of many hardest on retirees financially.
Ninety-year-old M.Y.A. Kapoi, a retired phrase processor and analysis analyst, is amongst these seniors scraping by on a mixture of Social Safety and a small 401(ok). She not often leaves her studio in her senior dwelling complicated in Harmony and considers a morning go to from her caregiver bringing her espresso because the spotlight of her day. She doesn’t purchase new garments, and the continued prices of managing her power kidney illness add additional pressure. Kapoi had hoped to retire at residence, however was compelled to promote her townhouse and transfer into senior housing when her private caregiver may not proceed the job.
“I pay $4,855 a month for rent and care,” Kapoi mentioned. “It’s a real struggle.”
M.Y.A. Kapoi ,90, sits in her room at Todos Santos Assisted Dwelling and Reminiscence Care on Tuesday, Oct. 7, 2025 in Harmony, Calif. Kapoi’s month-to-month dwelling prices are greater than her month-to-month earnings and she or he depends on financial savings to make up the distinction. (Aric Crabb/Bay Space Information Group)
The cash Kapoi produced from promoting her Harmony townhouse helps preserve her afloat. She is fortunate: The ballot signifies simply 12% of retirees have earnings from actual property. Gabriel Shahin, president of Oakland-based monetary planning firm Falcon Wealth, mentioned that homeownership might be
