Auto Finance
Buy Here Pay Here Auto Financing Basics
Leasing Basics
AmeriCredit's CEO Describes Surviving the Downturn
Banking
Debt Consolidation
Annual Percentage Rate
Study Finds Very Small Percentage of CUs Offer Payday Loan Alternatives
Cards Credit & Debit
Check Cashing
What s the difference between Credit and Debit?
Pre Paid Card
Finance - Auto
What Happens When My Title Loan Is Paid Off?
What Happens When I Get An Offer For A Title Loan In Nevada?
Auto Finance: Watch Out for These Dealer Scams
Finance - Business
Why Working Capital
Payday Loans: Quick Cash or Quicksand?
Merchant Cash Advances
Finance - Home
Auto Equity Loan
6 Things Retirement Calculators Get Wrong
What is Home Equity?
Finance - Personal
Why is it Necessary to Have a Checking Account in Order to Receive a Fast Cash Loan?
Can Payday Loans Help You Avoid Late Payment Fees?
Check Cashing
Financial Calculators
Money 101 A Guide to Gaining Control
What is a Mortgage Calculator?
3 Ways to Use a Mortgage Calculator
Insurance
4 Questions to Ask Before Buying Life Insurance
Do You Need Disability Insurance?
Have You Thout About Renters Insurance?
News and Press Releases
Payday Lenders Try a New Trick
Money Mayday as Brits Turn to Payday Loans
Payday Loans - Helpful Hints for the Consumer
Pawnbroker - Pawnshop
Payday Loans, Pawnbrokers Need More Than Regulation, OFT Says
Speedy Cash Advance and Pawn
Speedy Cash Payday Loans
Personal Credit
9 Bills You Can Save Money On
Max Cash Title Loans Works With Reliable Lenders in Albuquerque
What You Need for an Advance Till Payday
Personal Insurance
Have You Thout About Renters Insurance?
Do You Need Disability Insurance?
Do You Need Pet Insurance
Reference Library Finance and Loans
What You Need for an Advance Till Payday
GOP proposal would cap interest on payday loans
What is Identity Theft?
Regulatory Resources
GOP proposal would cap interest on payday loans
Payday Loan Limit Could Go Up
Extortion Scam Related to Delinquent Payday Loans
Shopping Secrets
The Golden Rule of Shopping
How an Easy Payday Loan Saved Me in Crisis!
Pet Insurance Shopping Secrets
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




Make Anyday Payday®