Minority seniors lack economic security

| | Comments (0) | TrackBacks (0)
United Press International
May 7, 2010

WALTHAM, Mass., May 7 (UPI) -- Ninety percent of Latino and African-American seniors live on the edge of financial collapse, accelerated by the economic downturn, U.S. researchers said.
The report by the Institute on Assets and Social Policy at Brandeis University and the public policy organization Demos utilized the Senior Financial Stability Index -- a tool developed by the institute and Demos to assess the long-term economic security of seniors.

A combination of inadequate pensions and savings, high housing costs and increasing healthcare costs have resulted in about three-quarters of minority senior households not able to cover essential expenses, the report said.

The report also found that:

-- Out-of-pocket healthcare expenses are burdensome for 34 percent of African-Americans and 39 percent of Latinos.

-- High housing cost put the budgets of 60 percent senior households of color at risk.

"The current economic crisis will compound economic vulnerabilities that have been building for years unless policies are developed to reverse these trends," lead author Tatjana Meschede said in a statement.

0 TrackBacks

Listed below are links to blogs that reference this entry: Minority seniors lack economic security.

TrackBack URL for this entry: http://blogs.cfed.org/cgi-sys/cgiwrap/cfed/managed-mt/mt-tb.cgi/1503

Leave a comment

About this Entry

This page contains a single entry by CFED published on May 10, 2010 4:31 PM.

A Rich New Poverty Measure was the previous entry in this blog.

Mortgage Paid, but a Dozen Debts to Go is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.