Retirees Replaced by Lower Paid Weigh on Growth: Economy
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Retired Ford Motor Co. worker Tony Fransetta scrimps on every expense after earning about a third of his previous pay since leaving the auto company in 1990.
“There is no magic bullet,” said Fransetta, 77, who lives in Wellington, Florida, near West Palm Beach. “I have cut vacations and travel. You have to manage your food very closely. You don’t go out and buy expensive cuts of beef. You have to catch things on sale.”