José Acarón, executive director of AARP in Puerto Rico, said on the program Puestos Pa' la Mañana that the average person in Puerto Rico has less than $400 saved for emergencies. He cited a study showing about 70% of people say they do not save monthly for retirement, as older adults increasingly support not only themselves but also their parents, children and grandchildren.
Acarón described this as a shift from the 'sandwich generation' to a 'triple' generation of financial dependents. He said the high cost of living has pushed many older adults to delay retirement, and that many workers—particularly employees of small and medium businesses and public employees—lack adequate mechanisms to prepare for retirement.
Acarón, who turns 66 this year, said his own generation won't be able to retire due to loans, family responsibilities and living costs, questioning whether his savings will last 25 to 30 years post-retirement. He also warned that people in their 40s and 50s often prioritize financially supporting children and grandchildren over their own retirement savings, a generational pressure that could leave them without sufficient resources upon reaching retirement age.