Forum für Wissenschaft, Industrie und Wirtschaft

Hauptsponsoren:     3M 
Datenbankrecherche:

 

New report shows seniors' economic security falling

20.07.2011
About 75 percent of senior households have little or no buffer against trauma

Outliving one's resources and falling into poverty is an increasingly common experience among today's senior citizens, according to a new report produced jointly by the Heller School's Institute on Assets and Social Policy and the public policy research and advocacy organization Demos.

And, researchers say, the situation could deteriorate further if cuts in Social Security are made.

The report, "From Bad to Worse: Senior Economic Insecurity On the Rise," found that seniors have too few resources and too little time to plan for a fulfilling retirement.

In only four years, the ranks of seniors at risk of outliving their resources increased by nearly 2 million households. Using the Senior Financial Stability Index, economic insecurity among senior households increased by one-third, rising from 27 percent to 36 percent from 2004 to 2008. This steady and dramatic increase was in progress even before the full force of the Great Recession hit.

While effects of the recession hit all demographic groups, the economic security of seniors has deteriorated more than the security of other groups. In addition to the one of every three seniors who is economically insecure, 40 percent of senior households are financially vulnerable - neither secure nor insecure according to the Senior Financial Security Index. Thus, three-quarters of all senior households have little or no buffer against financial ruin should they be faced with an unexpected illness or other traumatic life event.

In the hardest hit senior populations in America - households of color and senior single women - 50 percent fall into this economically insecure category, unsure of how to finance even the most basic necessities.

To stem the growing crisis, the report proposes:

strengthening Social Security for vulnerable groups, such as low-income earners and those with sporadic attachment to the labor market due to caregiving and other responsibilities

supporting a strong Community Living Assistance Services and Supports program (CLASS Act) to enable working adults the opportunity to plan for future long-term care needs, such as in-home services, adult day health or institutional care.

"It's simply a crime that in our wealthy and vibrant nation 36 percent of seniors live in a state of uncertainty - unsure of whether they can afford basic necessities," says Tatjana Meschede, research director at the Institute on Assets and Social Policy and co-author of the report.

"Instead of working to fix this crisis, the debate in Washington is dominated by those who argue that the only way to reduce the deficit is by dramatically altering Medicare and Social Security," she said. "These reckless proposals will only worsen current trends and further undermine the economic prospects of future seniors."

Jennifer Wheary, Demos senior fellow, says millions of seniors in America live day to day; this is a multigenerational problem, not a senior problem.

"We cannot end senior economic insecurity without addressing the early sources of this grave issue," says Wheary. "We must take steps to strengthen pension provisions to ensure the stability of employer and employee investments if we want to ensure millions retire with the funds they need and deserve."

For more information visit iasp.brandeis.edu or download the report
"From Bad to Worse" is the newest analysis in the IASP-Demos series entitled "Living Longer on Less."

Susan Chaityn Lebovits | EurekAlert!
Further information:
http://www.brandies.edu

More articles from Social Sciences:

nachricht How we understand others
28.04.2016 | Julius-Maximilians-Universität Würzburg

nachricht The non-driving millennial? Not so simple, says new research
29.03.2016 | University of Vermont

All articles from Social Sciences >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Winzige Mikroroboter, die Wasser reinigen können

Forscher des Max-Planck-Institutes Stuttgart haben winzige „Mikroroboter“ mit Eigenantrieb entwickelt, die Blei aus kontaminiertem Wasser entfernen oder organische Verschmutzungen abbauen können.

In Zusammenarbeit mit Kollegen in Barcelona und Singapur verwendete die Gruppe von Samuel Sánchez Graphenoxid zur Herstellung ihrer Motoren im Mikromaßstab. D

Im Focus: Tiny microbots that can clean up water

Researchers from the Max Planck Institute Stuttgart have developed self-propelled tiny ‘microbots’ that can remove lead or organic pollution from contaminated water.

Working with colleagues in Barcelona and Singapore, Samuel Sánchez’s group used graphene oxide to make their microscale motors, which are able to adsorb lead...

Im Focus: Bewegungen in der lebenden Zelle beobachten

Prinzipien der statistischen Thermodynamik: Forscher entwickeln neue Untersuchungsmethode

Ein Forscherteam aus Deutschland, den Niederlanden und den USA hat eine neue Methode entwickelt, mit der sich Bewegungsprozesse in lebenden Zellen nach ihrem...

Im Focus: Faszinierender Blick in den Zellkern

Veröffentlichungen in Nature Communications zur DNA-Replikation

Vor jeder Zellteilung muss die Erbsubstanz kopiert werden. Die Startpunkte der DNA-Verdoppelung in Zellen von Menschen und Mäusen haben Wissenschaftler um...

Im Focus: Dauerbetrieb der Tokamaks rückt näher

Aussichtsreiche Experimente in ASDEX Upgrade / Bedingungen für ITER und DEMO nahezu erfüllt

Die ihrer Natur nach in Pulsen arbeitenden Fusionsanlagen vom Typ Tokamak sind auf dem Weg zum Dauerbetrieb. Alexander Bock, Wissenschaftler im...

Alle Focus-News des Innovations-reports >>>

Anzeige

Anzeige

IHR
JOB & KARRIERE
SERVICE
im innovations-report
in Kooperation mit academics
Veranstaltungen

VDE|DGBMT veranstaltet Tagung zur patientennahen mobilen Diagnostik POCT

28.04.2016 | Veranstaltungen

Norddeutsche Herztage: 300 Experten treffen sich in Kiel

28.04.2016 | Veranstaltungen

Landwirtschaft und Lebensmittel - Analytische Chemiker: Wächter über Umwelt und Gesundheit

28.04.2016 | Veranstaltungen

 
B2B-VideoLinks
Weitere VideoLinks >>>
Aktuelle Beiträge

SmartF-IT passt Produktionsprozesse flexibel an

29.04.2016 | Informationstechnologie

Neue Entdeckung im Kampf gegen Krebs: Tumorzellen stellen Betrieb um

29.04.2016 | Biowissenschaften Chemie

Fettreiche Ernährung lässt Gehirn hungern

29.04.2016 | Biowissenschaften Chemie