Census Data Reveals Five-Year Surge in Poverty for Americans Over 65
While national poverty rates fell, the share of older adults living below the line increased by 20% over the last half-decade, new figures show.
By Julia Novak ·
The financial strain on America's oldest citizens has deepened, with Census data showing a fifth consecutive annual increase in poverty among adults over 65. This upward trend stands in sharp contrast to the national trend, as overall poverty rates across the country declined during the same period.
Claire Casey, president of the AARP Foundation, stated that the poverty rate for people over 65 has risen by 20%. She identified affordability as the primary worry for this demographic. A new report from the AARP, the Economic Security Monitor, found that 70% of older households experienced rising expenses within a three-month span.
The data highlights the precarious position of seniors living on fixed incomes. Anthony Hamalainen, 67, of Marquette, Michigan, described the situation for this group as severe. "I mean, I’m sure there’s other people are struggling too, but the seniors are really hitting it really super bad because they live on a fixed income. Most of them do," Hamalainen said.
Hamalainen's financial difficulties began after a fall from a roof in 2006. The accident ended his career as an owner of a wireless installation company. When he attempted to re-enter the workforce in his 50s, he faced barriers due to his disability and age. He now relies on Social Security, but medical bills and other costs have accumulated.
His monthly budget consists of just over $1,000 in income and $40 in SNAP benefits. "I run out of money each month. I mean, it’s just ridiculous. It’s really hard for us to live," Hamalainen said. He notes that the difficulty increases with each passing year.
Casey advised older adults to ignore age limits when seeking solutions. "I would say don’t think about an age. Think about what you want in your life and what you can do and then seek out the resources that are out there to help you," Casey said. The AARP offers free resources for seniors struggling with bills and recommends checking local, state, and federal programs for additional aid.
Hamalainen is now training with AARP to assist other seniors in finding employment. His personal history of unemployment and rising costs mirrors the statistical rise in poverty documented in the new Census data.
