Navigation Links
Living longer on less: The new economic (in)security of seniors in Massachusetts
Date:3/27/2009

Waltham, MAA new report, LIVING LONGER ON LESS IN MASSACHUSETTS: The New Economic (In)Security of Seniors, issued today by the Institute on Assets and Social Policy (IASP) at Brandeis University finds that Massachusetts seniors face widespread financial insecurity. Almost 7 in 10 senior households in Massachusetts lack sufficient resources for long-term economic security, according to the study. Economic risk is especially pronounced for single senior householdswith 82 percent among them facing financial insecurity.

These findings are a result of analysis utilizing the new Massachusetts Senior Financial Stability Index (MSFSI) and paint a daunting picture for state's aging population. The combination of inadequate pensions and savings, high housing costs, and accelerating health expenses, and other trends that affect seniors, will likely get worse unless policies are enacted to address them.

"The current economic crisis will compound economic vulnerabilities that have been building for years in current and future senior households unless policies are developed to reverse these trends," said Tatjana Meschede, lead author of the report released today.

Particular vulnerabilities identified in the report include:

  • 42 percent of the state's senior households do not have adequate financial resources from savings, Social Security, or pension income to cover essential expenses across their expected life spans.
  • 35 percent of senior households have no financial resources left each month after paying for essential expenses and therefore cannot cover extras or unanticipated expenses.
  • 52 percent of senior households face significant housing expenses, forcing older Bay State residents to cut back on other necessities in their budgets.

"With a higher percentage of seniors than the nation overall, Massachusetts should be a leader among states in preparing for the aging of the population. The state has many assets to build on, but policymakers must develop policies to address the high cost of living in the state," urged Thomas Shapiro, co-author of the report and Director of the Institute on Assets and Social Policy.

These ominous trends for older adults have been accelerated by the current economic crisis, increasing the urgency to stabilize and enhance retirement resources. "Future retirees will be worse off unless we attend to policies that grow their resources for the future, and combat the rising costs of essential expenses for seniors," said Meschede


'/>"/>

Contact: Laura Gardner
gardner@brandeis.edu
781-736-4204
Brandeis University
Source:Eurekalert

Related medicine news :

1. ADDAS Awareness Campaign Offers Resources and Education to Adults Living with AD/HD and Professionals Working With Them
2. Molecular probe paints cancer cells in living animals, Stanford researchers find
3. Scientists get first look at nanotubes inside living animals
4. Retirement Living TV Presents Sex, Drugs and Rock N Roll
5. CPF Living with IPF Patient Seminar to be Webcast Live October 13, 2007
6. Healthy Living Made Easy with New Diabetes Foodsmart e-Newsletter
7. National Energy Services Receives Repeat Orders From Golden Living and Cathedral Rock Skilled Nursing Facilities
8. Living Your Best Life: Adjusting Mind, Body and Spirit
9. How to Beat the High Cost of Living
10. Long Term Care Newsletter Debuts, Published by LTC Financial Partners; Advice on Living Better, Not Just Longer, With Financial Protection
11. A longer-living, healthier mouse that could hold clues to human aging
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/25/2016)... ... May 25, 2016 , ... TransactRx announces the release ... of medical service claims by Pharmacy Benefit Managers that were submitted by Retail ... The TransactRx Cross Benefit Clearinghouse receives standard professional medical claims submitted from the ...
(Date:5/25/2016)... ... , ... America Walks , a national advocacy organization that promotes walking ... of Pittsburgh Graduate School of Public Health , has been awarded a Walking ... from around the country to participate in a four-month training program designed to strengthen ...
(Date:5/25/2016)... (PRWEB) , ... May 25, 2016 , ... ... health insurance, has seen a significant spike in their clients' employee participation for ... annual biometric health screening by implementing a high-deductible health plan with outcome-based deductible ...
(Date:5/25/2016)... ... May 25, 2016 , ... HealthPostures , a national ... leading engineers at the American Society of Safety Engineers Conference in Atlanta, Georgia. ... , Engineers, speakers and exhibitors from more than 40 countries are scheduled to ...
(Date:5/24/2016)... ... 2016 , ... Sterling Global Products is launching a Kickstarter campaign focused on ... dispenser. The campaign kick-off video is located via this link https://youtu.be/WsO4qz2odco . The ... is to raise $1,000 per day for a total of $25,000. The funds will ...
Breaking Medicine News(10 mins):
(Date:5/24/2016)... , May 24, 2016 ... médica para ayudar a los médicos a compartir sus ... pacientes a escala mundial. Profesionales médicos de Europa, África, ... se han apuntado a la aplicación, que combina la ... un entorno totalmente seguro. Educación   ...
(Date:5/24/2016)...   , Study met ... and superiority in , Excellent plus ... of the ascending colon   , ... B.V. today announced new positive data from the phase III MORA ... standard 2 litre PEG with ascorbate. The study met both primary ...
(Date:5/24/2016)... , May 24, 2016 ARANZ ... for the healthcare sector, has been named the Coretex Hi-Tech ... Awards 2016. Dr Bruce Davey , CEO ... our team.  It,s really good to be recognised for the ... Our products are used in 35 countries around the world ...
Breaking Medicine Technology: