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“Elder Index” Points to Financial Problems for Single Seniors
The Center for Social and Demographic Research on Aging at the University of Massachusetts in Boston reports that ” … more than four out of 10 older singles are at risk of being unable to afford basic needs and age in their own homes.” This measurement results from the use of an “Elder Index,” a tool developed by the Gerontology Institute at UMass Boston. The tool uses ” … the cost of housing, health care, transportation, food and miscellaneous essentials such as soap and telephone service but not for expenses like going to restaurants or films …” to determine where seniors stand financially. The conclusions drawn from studies using the Elder Index underscore the importance of ensuring the continuity of Social Benefits in the future. For an explanation of the “Elder Index” and to better understand the financial plight of seniors, read a CBS News post on this subject here…