Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Living longer on less: The new economic (in)security of seniors in Massachusetts

31.03.2009
Almost 7 in 10 senior households lack sufficient resources for long-term economic security

A 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 households—with 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.

Laura Gardner | EurekAlert!
Further information:
http://www.brandeis.edu

More articles from Studies and Analyses:

nachricht Europe’s Demographic Future. Where the Regions Are Heading after a Decade of Crises
10.08.2017 | Berlin-Institut für Bevölkerung und Entwicklung

nachricht Scientists reveal source of human heartbeat in 3-D
07.08.2017 | University of Manchester

All articles from Studies and Analyses >>>

The most recent press releases about innovation >>>

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

Im Focus: Fizzy soda water could be key to clean manufacture of flat wonder material: Graphene

Whether you call it effervescent, fizzy, or sparkling, carbonated water is making a comeback as a beverage. Aside from quenching thirst, researchers at the University of Illinois at Urbana-Champaign have discovered a new use for these "bubbly" concoctions that will have major impact on the manufacturer of the world's thinnest, flattest, and one most useful materials -- graphene.

As graphene's popularity grows as an advanced "wonder" material, the speed and quality at which it can be manufactured will be paramount. With that in mind,...

Im Focus: Exotic quantum states made from light: Physicists create optical “wells” for a super-photon

Physicists at the University of Bonn have managed to create optical hollows and more complex patterns into which the light of a Bose-Einstein condensate flows. The creation of such highly low-loss structures for light is a prerequisite for complex light circuits, such as for quantum information processing for a new generation of computers. The researchers are now presenting their results in the journal Nature Photonics.

Light particles (photons) occur as tiny, indivisible portions. Many thousands of these light portions can be merged to form a single super-photon if they are...

Im Focus: Circular RNA linked to brain function

For the first time, scientists have shown that circular RNA is linked to brain function. When a RNA molecule called Cdr1as was deleted from the genome of mice, the animals had problems filtering out unnecessary information – like patients suffering from neuropsychiatric disorders.

While hundreds of circular RNAs (circRNAs) are abundant in mammalian brains, one big question has remained unanswered: What are they actually good for? In the...

Im Focus: RAVAN CubeSat measures Earth's outgoing energy

An experimental small satellite has successfully collected and delivered data on a key measurement for predicting changes in Earth's climate.

The Radiometer Assessment using Vertically Aligned Nanotubes (RAVAN) CubeSat was launched into low-Earth orbit on Nov. 11, 2016, in order to test new...

Im Focus: Scientists shine new light on the “other high temperature superconductor”

A study led by scientists of the Max Planck Institute for the Structure and Dynamics of Matter (MPSD) at the Center for Free-Electron Laser Science in Hamburg presents evidence of the coexistence of superconductivity and “charge-density-waves” in compounds of the poorly-studied family of bismuthates. This observation opens up new perspectives for a deeper understanding of the phenomenon of high-temperature superconductivity, a topic which is at the core of condensed matter research since more than 30 years. The paper by Nicoletti et al has been published in the PNAS.

Since the beginning of the 20th century, superconductivity had been observed in some metals at temperatures only a few degrees above the absolute zero (minus...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

Call for Papers – ICNFT 2018, 5th International Conference on New Forming Technology

16.08.2017 | Event News

Sustainability is the business model of tomorrow

04.08.2017 | Event News

Clash of Realities 2017: Registration now open. International Conference at TH Köln

26.07.2017 | Event News

 
Latest News

A Map of the Cell’s Power Station

18.08.2017 | Life Sciences

Engineering team images tiny quasicrystals as they form

18.08.2017 | Physics and Astronomy

Researchers printed graphene-like materials with inkjet

18.08.2017 | Materials Sciences

VideoLinks
B2B-VideoLinks
More VideoLinks >>>