Half of Single Older Adults Unable to Pay for Basic Needs
Researchers from the Gerontology Institute at the University of Massachusetts Boston produced an Elder Index to calculate the rates of elderly adults living in financial insecurity across the United States. The study found that half of older adults 65+ living alone – and nearly a quarter of older two-person households – are unable to afford basic necessities such as food, housing, and healthcare. Researchers also found that 18.2 percent of older adults living alone have incomes below the Federal Poverty Level, with an additional 32.1 percent living “in the gap” with an income above the poverty line but who are still unable to afford their living costs.