One in Six Seniors Lives in Poverty, New Analysis Finds

Currency devaluation (inflation) tends to hit the lower and middle classes fairly hard. It also hits anyone heavily dependent on fixed income. This tends to be elderly, retired, or anyone else that has yet to learn that gold is money.

One in six older Americans lives below the federal poverty line, according to a new government analysis which almost doubles the number of very poor seniors compared to the standard estimate.

At 16%, the proportion of seniors living in poverty is also higher than the proportion of all Americans in poverty. The plight of poor women is particularly striking: 43% of Hispanic women who live alone, and 34% of black women who live alone, live in poverty, according to Supplemental Poverty Measure Research, an alternative calculation from the U.S. Census Bureau. The Supplemental Poverty Measure is a U.S. Census research tool that considers previously overlooked costs like out-of-pocket medical expenses and taxes that can create economic stress for seniors on fixed incomes.

Source: www.ncoa.org

From Bob