An article in the May 19, 2020, USA
Today newspaper by Paul Branedus does not paint a rosy picture for retirees:
“When the year began, some 15 million Americans aged 62 and over were living in poverty. That’s now likely to explode some 67% over the next decade to nearly 25 million, according to a study by the Retirement Equity Lab (ReLab) at New York’s The New School.
“And this isn’t even using the official federal government’s absurdly low poverty level of $12,760 per person. The New School doubles that figure, to what ReLab economics professor Teresa Ghilarducci calls a base “level of economic deprivation.’” And yet senior poverty will still explode.
“We have to be honest about the likely reality,” Ghilarducci warns. “Millions of older Americans are going to have to accept austerity and a drop of living standards.”
More at this link: https://www.msn.com/en-us/money/retirement/analysis-millions-more-seniors-are-likely-to-fall-into-poverty/ar-BB14j7U9?ocid=spartandhp
“When the year began, some 15 million Americans aged 62 and over were living in poverty. That’s now likely to explode some 67% over the next decade to nearly 25 million, according to a study by the Retirement Equity Lab (ReLab) at New York’s The New School.
“And this isn’t even using the official federal government’s absurdly low poverty level of $12,760 per person. The New School doubles that figure, to what ReLab economics professor Teresa Ghilarducci calls a base “level of economic deprivation.’” And yet senior poverty will still explode.
“We have to be honest about the likely reality,” Ghilarducci warns. “Millions of older Americans are going to have to accept austerity and a drop of living standards.”
More at this link: https://www.msn.com/en-us/money/retirement/analysis-millions-more-seniors-are-likely-to-fall-into-poverty/ar-BB14j7U9?ocid=spartandhp
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