Auto Finance
AmeriCredit's CEO Describes Surviving the Downturn
How to Save Money When Buying a Car
Buy Here Pay Here Auto Financing Basics
What is a Bank Term Loan
These Rates Would Shock a Loan Shark
What is a Personal Bank Loan
Cards Credit & Debit
5 Ways to Crush Your Credit Card Debt
Credit Card Debt Consolidation Loan
Debit Card
Finance - Auto
How Can I Pay Off A Title Loan?
How Do I Pay Off A Title Loan?
How Many Title Loans Can I Get?
Finance - Business
Merchant Cash Advances
What are Business Finance Companies
Finance - Home
Bank Foreclosing? Try one of these options
Auto Equity Loan
Insider Mortgage Advice You Can Trust
Finance - Personal
I Was Unemployed for Two Years. Can I Get Payday Loans?
Online and in a Hurry – Can a Cash Advance Be a Fast Mistake?
The Secret to Making Payday Loans Work for You
Financial Calculators
3 Ways to Use a Mortgage Calculator
What is a Mortgage Calculator?
Money 101 A Guide to Gaining Control
Do You Need Disability Insurance?
4 Questions to Ask Before Buying Life Insurance
Take an Example From this Woman Without Health Insurance
News and Press Releases
The Middle Seat: Why 'Free' Tickets Cost So Much
Credit Counseling
Payday loan regulation measures face hurdles in Texas House
Pawnbroker - Pawnshop
Pawnbroker History and How it works
Payday Loans, Pawnbrokers Need More Than Regulation, OFT Says
Speedy Cash Payday Loans
Personal Credit
Extended Payment Plan
Glossary for Payday Lending
Max Cash Title Loans Works With Reliable Lenders in Albuquerque
Personal Insurance
Do You Need Disability Insurance?
Take an Example From this Woman Without Health Insurance
Have You Thout About Renters Insurance?
Reference Library Finance and Loans
Payday Loan Limit Could Go Up
Understanding Cash Loans: A Comprehensive Listing of Loan Terms and Definitions
Payday Loans: How do they work
Regulatory Resources
CFPA Act 2009 Study on Credit
Goddard warns lenders not to pass off illegal payday loans as legitimate ones
Payday Loan Limit Could Go Up
Shopping Secrets
Tips For a First Time Home Buyer!
7 Things All Online Shoppers Should do
How to Avoid Costly Auto Repairs
Add your Article

Older Minorities Are Becoming America's Poorest Residents

Older Minorities Are Becoming America's Poorest Residents

Source: AARP Bulletin Today | July 31, 2008 



Older Hispanics and African Americans are among the nation's poorest residents, according to a study released yesterday by the AARP Public Policy Institute.

The study reported that among people 65 and up, one in five Hispanics and almost one in four black Americans were living in poverty in 2006. Overall, one in 10 older people were reported as living at or below the poverty line. Like minorities, older women are not faring well. Nearly 12 percent of women age 65 and up lived in poverty in 2006, according to the report, which was

conducted for the AARP Foundation and released at its symposium on poverty and aging.

Little or no retirement income, unemployment, disability and poor health were cited as the major causes of older adults living in poverty. But the findings could be worse, the report said. If not for Social Security, the poverty rate for those 65 and older would have skyrocketed from 9 percent to 45 percent in 2006.

Nationwide, an estimated 37 million people live below the poverty line.

Attending the symposium was former Sen. John Edwards, chair of the Half in Ten antipoverty campaign, who said Americans deserve better. There are too many men and women who sit at their kitchen tables and reach the quiet conclusion that they will lose their home, he said. There are too many families sitting in our emergency rooms begging for health care.  There are too many of our veterans sleeping under bridges and on grates.

If you believe in the kind of America where everybody has equal chances and equal opportunities to do great things, we have a lot of Americans who don't have those chances today millions of them. This struggle is to try to make those opportunities available.

Edwards Half in Ten campaign, which aims to cut poverty by 50 percent within a decade, was formed earlier this year by a coalition of groups. It supports expanding tax credits, raising state and federal minimum wages, preventing predatory lending practices and increasing the eligibility for unemployment insurance to help lift people out of poverty.

Robin Talbert, president of the AARP Foundation, said the symposium was held so that Edwards and other experts could collaborate on ways to improve the quality of life for older persons living in poverty, or who are at high risk of falling into poverty.

Other highlights of the PPI report include:

• Women head up nearly seven of 10 older families living below the poverty line.

• About 25 percent of people age 50 to 64 who live in poverty work; nearly 63 percent have health insurance.

• The median net worth of people 50 and older living in poverty is $10,000.

• The cost of a doctor¹s visit prevented nearly 25 percent of people 50 and older living in poverty from seeing a physician in the last 12 months.

• Social Security Disability Insurance helps only about one in 10 people age 50 and up who say a disability has hampered their efforts to work.


Most Popular in Personal Finance

AARP Membership

Make Anyday Payday®