An estimated 54 percent of older women and 45 percent of older men who live alone have incomes below what is needed to pay for essentials. The financial effects of COVID-19 and the rising cost of living are to blame.
Economic insecurity is upending the lives of millions of older adults as soaring housing costs and inflation diminish the value of fixed incomes. Across the country, seniors who until recently successfully managed limited budgets are growing more anxious and distressed. Some lost work during the covid-19 pandemic. Others are encountering unaffordable rent increases and the