Living Below the Line: Economic Insecurity and Older Americans, Insecurity in the States, 2022

Authors

Jan Mutchler, University of Massachusetts BostonFollow
Yan-Jhu Su, University of Massachusetts Boston
Nidya Velasco Roldan, University of Massachusetts BostonFollow

Document Type

Research Report

Publication Date

2-2023

Keywords

2022 Elder Index, older adults, economic insecurity, United States

Disciplines

Economic Policy | Gerontology | Social Policy | Social Welfare

Abstract

New estimates from the 2022 Elder Index^TM suggest that nearly half of older adults living alone, and one out of five older couples, lack the financial resources required to pay for basic needs. We compared household incomes for adults age 65 and above living in one- and two-person households to the 2022 Elder Index for each state to calculate Economic Insecurity Rates (EIRs), the percentage of independent adults age 65 or older with annual incomes that do not support economic security. The EIRs allow a better understanding of how many and which older adults are experiencing economic insecurity. National averages suggest that 48% of older adults living alone and 21% of older couples have annual incomes below the Elder Index value. In every state, more than one-third of older singles are at risk of being unable to afford basic needs and age in their own homes.

Recommended Citation

Mutchler, Jan; Su, Yan-Jhu; and Velasco Roldan, Nidya, "Living Below the Line: Economic Insecurity and Older Americans, Insecurity in the States, 2022" (2023). Center for Social and Demographic Research on Aging Publications. 66.
https://scholarworks.umb.edu/demographyofaging/66