One in Six Seniors Lives in Poverty, New Analysis Finds

[roxiejules]

http://www.ncoa.org/press-room/press-release/one-in-six-seniors-lives-in.html - National Council on Aging

One in six older Americans lives below the federal poverty line, according to a new government analysis which almost doubles the number of very poor seniors compared to the standard estimate.

At 16%, the proportion of seniors living in poverty is also higher than the proportion of all Americans in poverty. The plight of poor women is particularly striking: 43% of Hispanic women who live alone, and 34% of black women who live alone, live in poverty, according to Supplemental Poverty Measure Research, an alternative calculation from the U.S. Census Bureau. The Supplemental Poverty Measure is a U.S. Census research tool that considers previously overlooked costs like out-of-pocket medical expenses and taxes that can create economic stress for seniors on fixed incomes.

“Too often, the struggles of elder poverty are invisible to policymakers and the public, yet millions are suffering and millions more are living on the edge of a financial crisis,” said Sandra Nathan, PhD, Senior Vice President of Economic Security at the National Council on Aging (NCOA), the leading nonprofit service and advocacy organization for older Americans. “Many seniors desperately need help assessing and navigating the options available to assist them in getting on a pathway to economic security, to meet their basic needs, survive an emergency, and afford medical care,” Nathan added.

With the first Boomers turning 65 this year, and savings, investments, and housing values still reeling from the economic downturn, the number of seniors who are struggling to make ends meet is likely to continue to grow.

[Submariner]

1. After 20 to 30 years of contributing to that 401(k) scam

I'm sure the boomers will move that number to 3 in 6 seniors in a very short time.

[my2sense]

2. Repubs on a mission to put

boomers and seniors in the poor house.

[lumberjack_jeff]

3. More than one in five children live in poverty.

Before Social Security, the rate of elderly in poverty was much more than half. Reducing poverty among the elderly was a 20th century success story.

We should do the same for kids.

[midnight]

4. Talk about a national security issue. Our country has been gambling with our wealth

and now has created this perfect mess.....

[FBaggins]

5. They've adjusted the poverty line upward... but have they adjusted the income line?

Retirement is when you're supposed to be drawing down all that savings that you've built up over your working years. Some of those withdrawals (IRAs and 401(k)s, etc.) result in taxable income, but many of them don't.

You could easily see a person living a pretty comfortable retirement, but still falling below this poverty line... because much of their "income" doesn't count as income at all.

[roxiejules]

6. Acts of kindness

Latest news is just another reminder that we should check on our elderly neighbors/family members often. Bring groceries or a treat and take the time to sit and have a cup of coffee and discover if there are ways you can assist.

Any act of kindness will help -

[Doctor_J]

7. Repukes solution: Give SS to Wall Street

Get used to it.

[Stuart G]

8. Great Way to treat our seniors...how sad..nt