Senior citizens are living well into their 70’s, 80’s and 90’s more so now than ever before. Advancements in technology, computers, better health care screenings and access to medical care, enable society to move forward. Unfortunately, seniors are often left behind, facing an uphill battle adapting regardless if they live with loved ones or in the hands of senior care professionals.
The ideal of retiring with a large sum of money is a facade many senior citizens are now realizing. Seniors requiring senior care or a nursing facility face additional expenses to accompany rising costs in medical coverage, prescription drugs, food, transportation and housing,
The National Council on Aging states:
Nearly 75% of adults 65 and older receive most if not all his or her monthly income from social security
14% of adults 65 and older face a negative net worth
27% of impoverished elderly adults at risk of hunger in 2011
16% of senior homeowners were upside on their house
33% of senior homes live paycheck to paycheck
If the younger generation faces a daunting task of finding and keeping employment, what does the economic landscape for senior citizens look like?