The 2015 Elder Economic Security Standard Index: geographic and demographic disparities

Mutchler, Jan, Xu, Ping and Li, Yang (2016) The 2015 Elder Economic Security Standard Index: geographic and demographic disparities. The Gerontologist, 56 (S3), 127. (doi:10.1093/geront/gnw162.507).

Record type: Article

Abstract

The Elder Economic Security Standard Index (Elder Index) offers a cost of living standard for independent, community-dwelling older singles and couples nationwide, calculated for every county in the United States. The Elder Index includes local cost of housing, food, transportation, healthcare, and other expenses. Annual costs of living for singles and couples aged 65 and older are calculated in three scenarios: homeowners with a mortgage, homeowners without a mortgage, and renters. Using the recently released 2015 Elder Index, we demonstrate that women are at higher risk of experiencing economic hardship. Nationally, 45% of men living alone but 55% of women living alone have incomes below the Elder Index value for renters. We identify demographic subgroups for whom gender disparities are most substantial. We also identify geographic areas in which gender gaps in the share of seniors reaching economic security are most pronounced. Implications for policy focusing on income security in later life are discussed.

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