ARTICLE:Between 2011 and 2012, the number of elderly ladies (65+) living in extreme poverty grew alarmingly, by 18%. These are women identified as living on an annual income of just $5,500 each year, for rent, food and shelter and health costs. The golden years of and idea of using retirement or social security funds to provide for the years of unemployment doesn't seem to be a viable option for today's seniors, as the number of working people over 65 rose by a staggering 67% in the last decade. Broken down demographically, the largest portion are white at 62%, African Americans at 17% and Hispanics at 16%. The article does not examine the number of women who are widowed, divorced or never married, which could be contributing to this extreme poverty in addition to the reductions made by the Social Security Administration. The article speculates on other factors that may be causing the increase, but chalks it up to poor money management or potentially being a blip more than a financial trend.
SITE: http://www.theatlantic.com/business/archive/2013/09/all-the-older-single-ladies-in-poverty/280036/
