Living Below the Line: Economic Insecurity and Older Americans, Racial and Ethnic Disparities in Insecurity, 2016

Authors

Jan Mutchler, University of Massachusetts BostonFollow
Yang Li, University of Massachusetts BostonFollow
Ping Xu, University of Massachusetts BostonFollow

Document Type

Research Report

Publication Date

3-2017

Keywords

Elder Economic Security Standard Index, Elder Index, income, older adults, racial and ethnic disparities

Disciplines

Economic Policy | Gerontology | Race and Ethnicity | Social Welfare

Abstract

New estimates from the 2016 Elder Economic Security Standard^TM 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 Standard^TM 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.

Community Engaged/Serving

Part of the UMass Boston Community-Engaged Teaching, Research, and Service Series. http://scholarworks.umb.edu/engage

Recommended Citation

Mutchler, Jan; Li, Yang; and Xu, Ping, "Living Below the Line: Economic Insecurity and Older Americans, Racial and Ethnic Disparities in Insecurity, 2016" (2017). Center for Social and Demographic Research on Aging Publications. 18.
https://scholarworks.umb.edu/demographyofaging/18