I didn't do the math, but, I'll believe the Beacon Journal in that even if Kaiser was averaged it would be far lower than expected. When this generation entered into the idea of saving for their retirement, SSI and Medicare was always figured into that picture. It may be that Baby Boomers took themselves seriously and aren't going to be as much as a burden as predicted. For every dollar of SSI and Medicare they absorb, they may very well be putting some back in the way of their retirement savings and 401Ks.
Kaiser (click here)
February 8, 2014
By Rick Armon
Akron Beacon Journal
AKRON, Ohio — Fifty years (click here) after President Lyndon Johnson declared the War on Poverty, at least one group of Americans is much better off today: senior citizens
.
The percentage of seniors nationwide living
below the poverty line has plummeted from 27 percent to 9 percent today,
according to a Beacon Journal analysis of census data.
“That is a success story,” said Harvey Sterns, director of the Institute for Life-Span Development and Gerontology at the University of Akron.
The sharp decline has occurred at the same time that the elderly population — defined as age 65 or older — has more than doubled in the country to 40.6 million people.
Today, there are 3.7 million seniors living in poverty, compared with 5.2 million in 1969, when the 1970 census was conducted.
The reasons are pretty simple, experts say: It’s a combination of Social Security, pensions, 401(k) programs and Medicare that has kept more elderly people from slipping into poverty.
Seniors also can continue working if they want today, as there are more nonlabor-intensive jobs available than decades ago.
However, the Kaiser Family Foundation released a report last year saying the 9 percent poverty figure is too rosy....
“That is a success story,” said Harvey Sterns, director of the Institute for Life-Span Development and Gerontology at the University of Akron.
The sharp decline has occurred at the same time that the elderly population — defined as age 65 or older — has more than doubled in the country to 40.6 million people.
Today, there are 3.7 million seniors living in poverty, compared with 5.2 million in 1969, when the 1970 census was conducted.
The reasons are pretty simple, experts say: It’s a combination of Social Security, pensions, 401(k) programs and Medicare that has kept more elderly people from slipping into poverty.
Seniors also can continue working if they want today, as there are more nonlabor-intensive jobs available than decades ago.
However, the Kaiser Family Foundation released a report last year saying the 9 percent poverty figure is too rosy....
AKRON,
Ohio — Fifty years after President Lyndon Johnson declared the War on
Poverty, at least one group of Americans is much better off today:
senior citizens.
The percentage of seniors nationwide living below the poverty line has plummeted from 27 percent to 9 percent today, according to a Beacon Journal analysis of census data.
“That is a success story,” said Harvey Sterns, director of the Institute for Life-Span Development and Gerontology at the University of Akron.
The sharp decline has occurred at the same time that the elderly population — defined as age 65 or older — has more than doubled in the country to 40.6 million people.
Today, there are 3.7 million seniors living in poverty, compared with 5.2 million in 1969, when the 1970 census was conducted.
The reasons are pretty simple, experts say: It’s a combination of Social Security, pensions, 401(k) programs and Medicare that has kept more elderly people from slipping into poverty.
Seniors also can continue working if they want today, as there are more nonlabor-intensive jobs available than decades ago.
However, the Kaiser Family Foundation released a report last year saying the 9 percent poverty figure is too rosy.
- See more at: http://amestrib.com/news/fewer-seniors-living-poverty-now-study-says#sthash.BmiC3oJ4.dpuf
The percentage of seniors nationwide living below the poverty line has plummeted from 27 percent to 9 percent today, according to a Beacon Journal analysis of census data.
“That is a success story,” said Harvey Sterns, director of the Institute for Life-Span Development and Gerontology at the University of Akron.
The sharp decline has occurred at the same time that the elderly population — defined as age 65 or older — has more than doubled in the country to 40.6 million people.
Today, there are 3.7 million seniors living in poverty, compared with 5.2 million in 1969, when the 1970 census was conducted.
The reasons are pretty simple, experts say: It’s a combination of Social Security, pensions, 401(k) programs and Medicare that has kept more elderly people from slipping into poverty.
Seniors also can continue working if they want today, as there are more nonlabor-intensive jobs available than decades ago.
However, the Kaiser Family Foundation released a report last year saying the 9 percent poverty figure is too rosy.
- See more at: http://amestrib.com/news/fewer-seniors-living-poverty-now-study-says#sthash.BmiC3oJ4.dpuf
By Rick Armon
Akron Beacon JourAKRON, Ohio — Fifty years after President Lyndon Johnson declared the War on Poverty, at least one group of Americans is much better off today: senior citizens.The percentage of seniors nationwide living below the poverty line has plummeted from 27 percent to 9 percent today, according to a Beacon Journal analysis of census
Akron Beacon JourAKRON, Ohio — Fifty years after President Lyndon Johnson declared the War on Poverty, at least one group of Americans is much better off today: senior citizens.The percentage of seniors nationwide living below the poverty line has plummeted from 27 percent to 9 percent today, according to a Beacon Journal analysis of census
