STUDY: Nearly half of all elderly Americans will experience poverty

[kpete]

Nearly half of all elderly Americans will experience poverty
Study says risk increases for African Americans, unmarried and undereducated
December 7, 2010
By Jessica Martin

Nearly half of all Americans between the ages of 60 and 90 will encounter at least one year of poverty or near poverty, says a recent study by Mark R. Rank, PhD, the Herbert S. Hadley Professor of Social Work at the Brown School at Washington University in St. Louis....

Rank found that although 32.7 percent of white older Americans will experience at least one year below the official poverty line, the corresponding percentage for black older Americans was double that at 64.6 percent.

In addition, for unmarried older Americans, the percentage experiencing poverty was 51.2 percent compared with 24.9 percent for married older Americans. Likewise, for those with fewer than 12 years of education, the percentage experiencing poverty was 48.4 percent compared with 20.5 percent for those with 12 or more years of education....

The study also looks at the likelihood of asset poverty and elderly Americans.

“Fifty-eight percent of those between the ages of 60 and 84 will at some point fail to have enough liquid assets to allow them to weather an unanticipated expense or downturn in income,” he says.

more:
http://news.wustl.edu/news/Pages/21608.aspx

[xchrom]

1. Back to the 'good old days' . Nt

[dkf]

2. If you have paid up your house poverty income isn't as bad.

If you haven't you are screwed.

[sasha031]

3. yes, you are so correct, property taxes and all other expence just keep going down each year

:sarcasm:

[NNN0LHI]

6. I wish that were true

When we finally get this house paid for in a few more years the monthly property tax bill alone will exceed my original monthly mortgage payment when we bought this house which included principal, interest, insurance and taxes.

When we get done paying for this place we will owe more per month than we were paying when we first bought it.

Don

[Individualist]

7. Bullshit!

[grasswire]

4. anyone want to get married?

That's the solution. Double up!

[Catherina]

5. Who cares? The rich need tax cuts! The government needs wars! Rec'd n/t

[leftstreet]

8. K&R

[w8liftinglady]

9. I rec'd.four of us have agreed to move in together when the kids are grown and out

and share our ss...which may be non--existant.
Who the hell knows...there may be 6 kids living there,too....ain't it grand?

[Starry Messenger]

10. recommend.

[somone]

11. Obama's plan will send them to die in the gutter

just like in India