According to the latest government figures, 6.4 million Americans over age 65 are living in poverty. In Florida, 11 percent of seniors over 65 live below the poverty line, which is $11,770 a year for a senior living alone. Florida shares the spot for eighth-highest poverty rate among seniors in the nation.
via Miami Herald.
Related Reading:
- Why Seniors Need a CPI-E.
- The goal was to more accurately measure the prices and inflation seniors
face, ultimately leading to more representative cost of living
adjustments (COLAs) for America’s retirees. Never in my wildest dreams
could I have predicted that, 26 years later, our nation would still be
without an accurate CPI formula for millions of seniors, and that the
CPI-E would still be considered “experimental.”