Poverty Increasing Among Retirees
U.S.News & World Report LPBy Emily Brandon | U.S.News & World Report LP – Mon, May 21, 2012 12:44 PM EDT
Growing numbers of older Americans are spending their retirement years in poverty, according to a recent Employee Benefit Research Institute study. The proportion of older people living below the poverty line has been growing steadily since 2005, and many of those people are falling into poverty as they age and spend down their savings.
Poverty rates for people ages 65 to 74 climbed from 7.9 percent in 2005 to 9.4 percent in 2009, according to the EBRI analysis of University of Michigan health and retirement study data. For older retirees ages 75 to 84, there was an even steeper increase, from 7.6 percent to 10.7 percent over the same time period. But it’s the oldest retirees who are the most likely to live in poverty: 14.6 percent did so in 2009.
Many older Americans are falling into poverty as they age. In 2009, the most recent year included in the study, 6 percent of those age 85 older were new entrants in poverty, up from 4.6 percent in 2005. And while 3.3 percent of people ages 75 to 84 fell newly into poverty in 2005, that number increased to 5.6 percent by 2009.
“While We Were Sleeping”
Orwell Rolls In His Grave, featuring MCM – Buy the DVD
About News From Underground
News From Underground is a daily e-news service run by Mark Crispin Miller, a Professor of Culture and Communication at NYU. It is based on his belief that academics, like reporters, have a civic obligation to help keep the people well-informed, so that American democracy might finally work.
If you'd like to receive updates delivered to your inbox daily, sign up for News From Underground Alerts:
Help News From Underground!
Message from Mark: "I am a one-man operation, although assisted greatly by some volunteers, and, now and then, by people paid by others for one-time projects. There is no shortage of skilled, dedicated folks out there who want to help me. There is, however, nothing I can pay them with, unless you decide you can contribute something."
Please donate via the PayPal button above or via PayPal by email to: firstname.lastname@example.org
- Please HELP FUND this documentary on JFK’s assassination!
- Talkin’ World War One Blues…
- How Australia plans to keep its vaccinated children safe from illnesses that they can’t catch
- On the mass delusion now afflicting liberals (and putting all of us at risk)
- There’s actually more evidence in Pizzagate than there is in “Russia-gate.”
- Forbidden Bookshelf on
- Contact Lou Dobbs on
- Forbidden Bookshelf on
- Top US spooks see NO “conclusive evidence” of Russian hacking in Election 2016 on
- How blaming Trump’s “election” on the Russians could force Hillary on us after all—and end US democracy for good… on
- The strange death of Nancy Schaefer (two items)
- Forbidden Bookshelf
- Please HELP FUND this documentary on JFK's assassination!
- How NYU squeezes billions from its students—and where that money goes
- Talkin' World War One Blues...
- alias Bruce
- William Betz
- Talking Points Memo
- Fairness & Accuracy in Reporting
- The Rude Pudit
- The International Human Press
- Election Defense Alliance
- Media Matters
- Suburban Guerrilla
- Media Channel
- History Unfolding
- Veterans for Common Sense
- Cody Lyon
- The Ostroy Report
- The Existentialist Cowboy
- Barry Gordon
- t r u t h o u t
- Online Journal
Need a bigger font size?
- Your link could be here too, contact us for pricing details.