Women Are More Than Men And Women

1285 WordsApr 8, 20166 Pages
According to Cawthorne, “Poverty also does not affect senior men and women equally, a trend observed in other age groups. Women are more likely than men to face poverty in old age (Figure 2). A lifetime of lower earnings due to wage discrimination, absence from the labor market due to childbirth and caregiving, and jobs that are less likely to have employer-sponsored retirement plans all take their toll. (p. 4). If benefits are decreased, this will be difficult for women, but even more difficult for low-income seniors who already struggle financially. Those who do not have personal savings or pension plan will suffer drastically. According to Dumez & Derbew, “Even today, people of color remain less likely to receive pension…show more content…
The purchasing power in 2015 is 22% less than in 2000. The price of heating has increased by 159 percent over a 15-year period, the cost of home ownership has jumped by 44 percent and the cost of medical expenses increased by 30 percent. (Soergel, 2015). These numbers are staggering to seniors whose income remains the same. Many have a steady income from social security, pension or savings. These expenses sometimes prevent seniors from retiring while others fall below the poverty line or depend on family members for help. Not only do senior struggle to make ends meet, but increase morbidity means that seniors need more income for retirement. People today are living longer than in the past. Life expectancy nearly doubled during the 20th century, those 65 years or older increased by ten-fold and this number is expected to double in the next 25 years. (National Institute on Health, n.d.). Seniors in the future will face even greater challenges as cost of living continue to increase. Another financial challenge will be the cost of health care. Many older workers under the age of 65 are choosing to delay retirement due to health care plans sponsored by employers. Those who are not eligible for Medicare raise a risk of financial instability. Older American find their budget that is already thin stretching thinner because of health care cost. Out-of- pocket medical expenses such as medical supplies, long term care and prescription drugs

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