Did You Know…?
Statistics show that the incidence of economic insecurity among the elderly has decreased since the 1950’s, primarily, it is believed, due to the effects of Social Security. However, according to the National Council on Aging (NCOA), over 25 million Americans aged 60+ are economically insecure—living at or below 250% of the federal poverty level (FPL) ($29,425 per year for a single person). These older adults struggle with rising housing and health care bills, inadequate nutrition, lack of access to transportation, diminished savings, and job loss. For older adults who are above the poverty level, one major adverse life event can change today’s realities into tomorrow’s troubles.
Many of us envision retirement as a carefree time of leisure after putting in many years in the workforce. What we may fail to take into account, and plan for, are reality checks such as failing/diminished health or more limited financial resources.
Most aging adults will indicate they wish to continue to age in their current residence. However, many times they fail to take into account the toll home maintenance may take on their body and/or their pocketbook. Transportation to and from necessary appointments may become an issue for those who can no longer transport themselves. Also, advancing age usually involves more and more serious health issues that may become an increasingly large part of the personal budget. Their diminishing health may accelerate because of inadequate nourishment when they lose the ability or motivation to prepare nutritious meals. They may even begin to neglect nutrition because of the need to prioritize spending of funds for other necessities. It is estimated that over 10 million older adults are food insecure.
There are many government programs and resources available to help, but often the elderly do not avail themselves either because they don’t know about them or they don’t know how to enroll.
- Medicare and Medicaid health insurance programs provide assistance with health care costs.
- SNAP (Supplemental Nutrition Assistance Program) is available to qualifying seniors.
- NCOA offers many practical suggestions for budgeting, healthy aging, finding employment, etc., that are of particular interest to the elderly.
- Many local and state programs specifically offer assistance to struggling senior citizens. These may include options such as Senior Centers, Charlotte Area Agency on Aging, Meals on Wheels, Loaves & Fishes food pantries, and more.
Maybe you know someone who is dealing with some of these issues or you know a caregiver who is struggling to assist their aging loved one. Please pass this information on so they may know they are not alone and that guidance is available. A good place to start is the National Council on Aging website: https://www.ncoa.org/.
Have questions? Contact us today: 704-237-4262.
Cindy & Kandy