In Rio Grande do Sul, Brazil, a recent report by Serasa highlights a concerning trend among the elderly population, with 23% of residents aged 60 and over reportedly in debt. This demographic, composed primarily of retirees and pensioners, is struggling to manage their finances with incomes that they describe as insufficient to cover basic living expenses such as housing and food. As a result, many are compelled to seek out personal loans and other credit options to alleviate their financial burdens.

The struggles of these seniors are illustrated through personal testimonies, such as that of Sandra Terezinha Peixoto, who lives with her daughter and grandson in rented accommodation and feels the need to assist with household expenses despite her limited pension. Similarly, Geneci dos Santos expresses his frustration with needing to secure loans simply to make ends meet, further emphasizing the reality that current income levels are inadequate for maintaining a stable lifestyle. These stories paint a vivid picture of the unrelenting financial pressures faced by older adults in this region.

Ronald Godoy brings attention to a cyclical problem many retirees encounter, where their salaries are quickly absorbed by debts and obligations, leaving them with barely any disposable income. This scenario poses serious implications for their well-being, affecting not only their financial stability but also their overall quality of life. The situation calls for greater attention from policymakers, as well as potential reforms to ensure that elderly individuals receive adequate support and resources to navigate their financial challenges effectively.