Poverty rates for Americans over 65 rise for fifth straight year
Census data shows a 20% increase in poverty among older adults, even as the national rate declines.
By Ethan Cook ·
Poverty among Americans age 65 and older has increased for the fifth consecutive year. New Census data indicates the rate has climbed 20%. This rise occurred while the overall poverty rate in the country went down.
Claire Casey, president of the AARP Foundation, identified affordability as a primary worry for older adults. AARP released its Economic Security Monitor this week. The report found that 70% of older households saw their expenses increase within a three-month period.
Anthony Hamalainen, 67, lives in Marquette, Michigan. He described the financial strain on those with fixed incomes. Hamalainen said seniors are hit hardest because many cannot adjust their spending to match rising costs. He noted that most older adults rely on a set amount of money each month.
Hamalainen owned a wireless installation company. A fall from a roof in 2006 ended his ability to work in that field. He tried to return to employment in his 50s but faced difficulties hiring managers due to his disability and age. He began receiving Social Security benefits after the accident. Medical bills and other costs have accumulated since then.
He currently survives on just over $1,000 a month in income. He also receives $40 in SNAP benefits. Hamalainen stated that he runs out of money every month. He called the current situation ridiculous and difficult for seniors like him to manage daily life.
Casey advised older adults to focus on their capabilities rather than their age. She encouraged them to seek available resources for support. Hamalainen is now training with AARP to assist other seniors in finding employment. AARP provides free resources for older adults struggling with bill payments. The organization suggests that individuals check local, state, and federal programs for additional assistance.
