This fact is important to know by the Wall Street gangstas : 
"
Study: More than half of US seniors live in poverty
J. A. Allen, July 27, 2022
A study by Massachusetts University near Boston describes the financial strain that many older US citizens are exposed to due to the increased cost of living. High inflation threatens to aggravate the situation further.
Americans aged 65 and older are more likely to live in poverty than younger adults. That’s according to a study by Massachusetts University. Those aged 35 to 54 are the least likely to live in poverty. According to the Department of Health and Human Services, the average poverty line for a single person is $12,880 per year. For a four-person household, it is $26,500 per year.
The “Elder Index” from the Department of Gerontology at Massachusetts University in Boston collects data on the costs of health care, food, housing and transportation. The Index shows that currently 54 percent of older women living alone are considered poor under federal poverty standards and unable to meet basic living expenses, and 45 percent of single men fall into the same category.
In 2020, the survey’s data also showed that the economic situation of more than two million older couples was considered precarious. Jan Mutchler, Director of the Gerontology Institute, explained:
“Any small change in circumstances – rising prices, a medical emergency – can throw an elderly person’s budget completely off balance.”
[...]
"
"
Study: More than half of US seniors live in poverty
J. A. Allen, July 27, 2022
A study by Massachusetts University near Boston describes the financial strain that many older US citizens are exposed to due to the increased cost of living. High inflation threatens to aggravate the situation further.
Americans aged 65 and older are more likely to live in poverty than younger adults. That’s according to a study by Massachusetts University. Those aged 35 to 54 are the least likely to live in poverty. According to the Department of Health and Human Services, the average poverty line for a single person is $12,880 per year. For a four-person household, it is $26,500 per year.
The “Elder Index” from the Department of Gerontology at Massachusetts University in Boston collects data on the costs of health care, food, housing and transportation. The Index shows that currently 54 percent of older women living alone are considered poor under federal poverty standards and unable to meet basic living expenses, and 45 percent of single men fall into the same category.
In 2020, the survey’s data also showed that the economic situation of more than two million older couples was considered precarious. Jan Mutchler, Director of the Gerontology Institute, explained:
“Any small change in circumstances – rising prices, a medical emergency – can throw an elderly person’s budget completely off balance.”
[...]
"
Last edited:
