The Financial Health of Low- to Moderate-Income Older Americans
The Center for Financial Services Innovation and AARP Foundation released a report on the financial health of the approximately 50 million low- to moderate-income Americans over age 50. It finds that 83 percent report financial stress, and it identifies several financial challenges they face, including a lack of savings, unmanageable debt, inadequate protection from medical shocks, an inability to retire and family obligations.