Auto Finance
Auto Equity Loan
How to Save Money When Buying a Car
Experian Shares Latest Auto Loan Trends, Top Lenders
Banking
Do you Need a Day Loan? The Bank Can Help
Money 101 A Guide to Gaining Control
What is a Personal Bank Loan
Cards Credit & Debit
Check Cashing
5 Ways to Crush Your Credit Card Debt
Debit Card
Finance - Auto
When Do I get My Car Title After a Title Loan in Texas?
How Do I Pay Off A Title Loan In Indiana?
How Do I Get My Cash For A Title Loan In California?
Finance - Business
What is a Bank Term Loan
Merchant Cash Advances
Credit
Finance - Home
Auto Equity Loan
What is Home Equity?
Insider Mortgage Advice You Can Trust
Finance - Personal
Money Management Skills for Kids
Alternatives to Check Cashing Stores
Payday Loan Usury Laws: A Safeguard against the Revolving Cycle of Debt
Financial Calculators
Money 101 A Guide to Gaining Control
3 Ways to Use a Mortgage Calculator
What is a Mortgage Calculator?
Insurance
Take an Example From this Woman Without Health Insurance
4 Questions to Ask Before Buying Life Insurance
Have You Thout About Renters Insurance?
News and Press Releases
Debate over short term loans offered by check cashers in New York
Why Payday Loans Can Be Hazardous To Financial Health
Payday Lenders - New Landscape to Deal With
Pawnbroker - Pawnshop
Speedy Cash Payday Loans
Payday Loans, Pawnbrokers Need More Than Regulation, OFT Says
What's the Deal?
Personal Credit
Max Cash Title Loans Helps Long Beach California
What is a Title Loan in Nevada?
Credit Card Fee Increases
Personal Insurance
Take an Example From this Woman Without Health Insurance
Do You Need Life Insurance?
Why You Need Health Insurance
Reference Library Finance and Loans
Payday Advance
Checks and Balances - Easy Steps for Checkbook Balancing
Critics say Missouri bill falls short of true reform of payday loans
Regulatory Resources
Bill to Manage Payday Lenders in Texas Senate
Colorado House approves payday loan restrictions
When Emergency Strikes
Shopping Secrets
How to Save Money When Buying a Car
The Golden Rule of Shopping
3 Ways You can Save Money
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 

QUICK RESOURCES


·          

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




Get up to $1000 fast!