From Bad to Worse: Senior Economic Insecurity on the Rise
Resource type: Research Report
Demos and The Institute on Assets & Social Policy |
Many older people struggle just to make ends meet and are falling into poverty at a troubling rate, according to this report.
Using the Senior Financial Stability Index, the report found that economic insecurity among senior households increased by one-third to 36 per cent between 2004 to 2008, and that 50 per cent of the hardest hit senior populations in America – households of colour and senior single women – are unsure of how to finance even the most basic necessities.
It also proposes steps to improve the economic status of older people, including strengthening Social Security and supporting a strong Community Living Assistance Services and Supports programme to enable working adults to plan for future long-term care needs.