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Living Below the Line in Massachusetts: Disparities in Economic Insecurity across Racial and Ethnic Groups
No full textThe 2015 Elder Economic Security Standard Index: geographic and demographic disparities
No full textThe Elder Economic Security Standard Index (Elder Index) offers a cost of living standard for independent, community-dwelling older singles and couples nationwide, calculated for every county in the United States. The Elder Index includes local cost of housing, food, transportation, healthcare, and other expenses. Annual costs of living for singles and couples aged 65 and older are calculated in three scenarios: homeowners with a mortgage, homeowners without a mortgage, and renters. Using the recently released 2015 Elder Index, we demonstrate that women are at higher risk of experiencing economic hardship. Nationally, 45% of men living alone but 55% of women living alone have incomes below the Elder Index value for renters. We identify demographic subgroups for whom gender disparities are most substantial. We also identify geographic areas in which gender gaps in the share of seniors reaching economic security are most pronounced. Implications for policy focusing on income security in later life are discussed
Living Below the Line: Economic Insecurity and Older Americans, Age Disparities in Insecurity, 2016
Get PDFNew estimates from the 2016 Elder Economic Security StandardTM Index highlight the high risk of economic insecurity experienced by older adults, a risk that is especially high for the oldest seniors. The Gerontology Institute compares the 2016 household incomes for adults age 65 and above living in one- and two-person households to the 2016 Elder Economic Security StandardTM Index for each state and Washington, DC to calculate Elder Economic Insecurity Rates (EEIRs), the percentage of independent older adults age 65 or older living in households with annual incomes that do not support economic security. The EEIRs allow state and local governments to better understand and benchmark how many and which groups of older adults are at risk of financial instability. National averages indicate that among older adults living alone, 46% of those age 65 to 74 have annual incomes below the Elder Index. The risk of economic insecurity rises to 57% among adults age 75 to 84, and reaches 59% among those who are aged 85 or older. Risk of economic insecurity is considerably lower among older adults living in couple households, but disparities by age are evident among couples as well. Together, these estimates suggest that nationally, a minimum of 10 million adults age 65 or older struggle to make ends meet, facing financial challenges in their efforts to age in place and in community
Living Below the Line: Economic Insecurity and Older Americans, Gender Disparities in Insecurity, 2016
Get PDFNew estimates from the 2016 Elder Economic Security StandardTM Index highlight the high risk of economic insecurity experienced by older adults, a risk that is especially high for older women living alone. The Gerontology Institute compares the 2016 household incomes for adults age 65 and above living in one- and two-person households to the 2016 Elder Economic Security StandardTM Index for each state and Washington, DC to calculate Elder Economic Insecurity Rates (EEIRs), the percentage of independent older adults age 65 or older living in households with annual incomes that do not support economic security. The EEIRs allow state and local governments to better understand and benchmark how many and which groups of older adults are at risk of financial instability. National averages suggest that 57% of older women living alone, along with 46% of older men living alone, have annual incomes below the Elder Index. As well, 27% of older adults living in elder couple households (with an older spouse, partner, or some other older adult) have annual incomes below the Elder Index. Together, these estimates suggest that nationally a minimum of 10 million adults age 65 or older struggle to make ends meet, facing financial challenges in their efforts to age in place and in community
Living Below the Line: Economic Insecurity and Older Americans, Racial and Ethnic Disparities in Insecurity, 2016
Get PDFNew estimates from the 2016 Elder Economic Security StandardTM Index highlight the high risk of economic insecurity experienced by older adults, a risk that is especially high for racial and ethnic minorities. The Gerontology Institute compares the 2016 household incomes for adults age 65 and above living in one- and two-person households to the 2016 Elder Economic Security StandardTM Index for each state and Washington, DC to calculate Elder Economic Insecurity Rates (EEIRs), the percentage of independent older adults age 65 or older living in households with annual incomes that do not support economic security. The EEIRs allow state and local governments to better understand and benchmark how many and which groups of older adults are at risk of financial instability. National averages suggest that among older adults living alone, half of non-Hispanic Whites, along with 61% of Asians, two-thirds of African Americans, and nearly three-quarters of Hispanics have annual incomes below the Elder Index. The risk of economic insecurity is lower among couples than among singles, but is still substantially higher for racial and ethnic minorities than for non-Hispanic Whites. Together, these estimates suggest that nationally, a minimum of 10 million adults age 65 or older struggle to make ends meet, facing financial challenges in their efforts to age in place and in community
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