Current Weather
The Spy FM

Former Exec, 77, Says He Earns His Old Hourly Rate In A Week

Filed by KOSU News in US News.
September 23, 2013

A former advertising executive’s story of relying on two part-time jobs to help him get by during retirement is attracting attention and impassioned comments at Bloomberg News.

At 77, Tom Palome is a former vice president of marketing for Oral-B who paid off a mortgage and put his kids through college, Bloomberg says. But he didn’t have enough savings to maintain his lifestyle in retirement, especially after the 2008 economic crisis. So he now works at a grill and at a Sam’s Club in the Tampa, Fla., area.

“What I make in a week at these jobs, I probably made in an hour during the highlight of my career,” Palome tells Bloomberg’s Carol Hymowitz. He estimates that he earns about $10 an hour at each of his jobs.

The money from those part-time jobs isn’t Palome’s only income; he has a pension and receives Social Security payments. He uses that money — about $1,400 a month — to help pay for things like visits to see his grandsons, or trips to the theater.

Palome’s advice for people in his position is straightforward. Be positive, he says. Respect the work you do. And get some rest.

“I’m not going to sit on my laurels and say I was an executive making six figures and traveling the world,” he tells Hymowitz. “I tell people I demonstrate food and I do short-order cooking. I don’t mind saying it. What’s important is that I can work today.”

On the Bloomberg site, one reader commented on Palome’s story, “The concept of Retirement may prove to be a short-term phenomenon.” [Copyright 2013 NPR]

Leave a Reply

9PM to 5AM The Spy

The Spy

An eclectic mix of the Spy's library of more than 10,000 songs curated by Ferris O'Brien.

Listen Live Now!

Upcoming Events in your area (Submit your event today!)

Streaming audio and podcasts

Stream KOSU on your smartphone

Phone Streaming

SmartPhone listening options on this page are intended for many iPhones, Blackberries, etc. with low-cost software applications available to listen to our full-time web streams, both News on KOSU-1 and Classical on KOSU-2.

Learn more about our complete range of streaming services

We're perfecting the patient experience - Stillwater Medical Center