Summary
Study focus: More than 4 million women in the United States ages 65 and older live in poverty. They are 80% more likely to live in poverty than men. Older women of color are twice as likely as white women to experience poverty. Women who have worked all their lives, both in the workforce and/or as family caregivers, find themselves struggling to meet even their most basic needs as they become older. This report uses a variety of sources, and references the California Elder Index, to analyze the challenges to economic security among older women.
Participants: Women in the United States, ages 65 and older.
Outcomes studied:
- Drivers of economic insecurity, including inequitable income, racial and ethnic inequity, long-term unemployment, unpaid caregiving, financial exploitation
- Lower sources of retirement stability, including debt and lower Social Security benefits, pensions, and homeownership levels
- Erosion of wealth and income due to financial shocks such as health care expenses and debt
Findings: These risks can be mitigated through targeted action to help older women build and maintain wealth, plus access available income, as well as through policies and systems changes to prevent older women from falling into poverty when they cannot build sufficient income as they age.
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