DataPoint: Elder Economic Security Resource

The Elder Index is a measure of income compared to anticipated monthly living expenses. It allows users to gauge their personal household size, location, housing, and health status against their basic living needs. The economic tool, developed by the Gerontology Institute at the University of Massachusetts Boston, is most useful when evaluating the income needed for adults 65+ living outside of institutions to maintain a healthy lifestyle without public or private assistance.

The 2016 Elder Index estimates that half of older adults living alone lack the financial resources needed to pay for their basic needs. It also determined that New York, Massachusetts, New Jersey, and Vermont were among the states with the highest economic insecurity for single older adults in the country. To estimate the cost of basic living needs for retirement age adults in your county using the Elder Index, please click here.

Contact: Ken Allison, kallison@leadingageny.org, 518-867-8820