August 4, 2020         
Total Spectrum Launches New ABA Therapy Learning Center in Brookfield, Wisconsin   •   Avelas Announces Top-Line Data Showing Pegloprastide (AVB-620) Can Significantly Improve Cancer Detection in Real Time During Br   •   Groundbreaking Research Reveals Black And Latinx Girls Are Left Out Of Leadership Pipeline From The Start Due To Systemic Racial   •   MSG Entertainment Provides Update on 2020 Christmas Spectacular   •   Turning the Tassels on COVID-19: Colorado Preparatory Academy Celebrates Class of 2020 with Online Commencement   •   Watercrest Senior Living Group Proudly Announces the Opening of Watercrest Fort Mill - Indian Land Assisted Living and Memory Ca   •   HOLA! USA En Español Edition Launches its First Digital Cover with an Exclusive Story from Venezuelan Latin Grammy Artist   •   Christopher & Dana Reeve Foundation Elects New Board Members   •   What Makes Army and Navy Academy Different from Other Schools?   •   Sony/ATV and TwentySeven Music Publishing Extend Partnership, Sign Jimmie Allen to Worldwide Deal   •   Omni Workspace Company announces investment in North Dakota Steelcase Dealership   •   Find the Way - Hope and Help online feature launched by United Church of God   •   Customer Satisfaction with Social Media and Digital News Falters Despite Traffic Surge, ACSI Data Show   •   West Margin Press Announces Collaboration With Entrepreneur Tina Wells   •   Cheerios Donates $1.3 Million to No Kid Hungry; Partners With Jerry Harris to Rally America’s Support to End Childhood Hun   •   It’s Business As Usual for Online Schools – Insight Academy of Arizona is Ready for the New School Year   •   RTW Retailwinds, Inc. Announces Execution of Asset Purchase Agreement with Sunrise Brands, LLC for the Sale of its e-Commerce Bu   •   Chronus Introduces Grant Program to Improve Racial Equity Through Mentoring   •   Greensfelder Partners With Homethrive to Offer Family Elder Care Benefit to Employees   •   P&G Presents Tonight’s CBS Primetime Special Honoring the Life of Rep. John Lewis
Bookmark and Share

MINORITY SENIORS' PLIGHT

 

 
Waltham, MA—Millions of African-American and Latino seniors are living on the edge of
financial collapse, according to a new report, Severe Financial Insecurity among African
American and Latino Seniors. Released today by the Institute on Assets and Social Policy
(IASP) at Brandeis University and the public policy organization, Demos, the report finds that
African American and Latino seniors face widespread financial insecurity during retirement, a
trend accelerated by the current economic crisis. According to the study, 9 in 10 senior
households of color lack sufficient resources for long-term economic security.
 
Painting a daunting picture, these findings are a result of analysis utilizing the Senior Financial
Stability Index (SFSI), a tool developed by IASP and Demos to assess the long-term economic
security of seniors. A combination of inadequate pensions and savings, high housing costs,
accelerating health expenses, and other trends that affect seniors, will likely get worse, unless
policies are enacted to address them.
 
“The current economic crisis will compound economic vulnerabilities that have been building for
years unless policies are developed to reverse these trends,” said Tatjana Meschede, lead author
of the report released today.
 
Particular vulnerabilities identified in the report include:
• More than three–fourths of senior households of color do not have adequate financial resources
from savings, Social Security, or pension income to cover essential expenses for their expected
life spans.
 
• Out-of-pocket health care expenses are burdensome for 34 percent of African American and 39
percent of Latino seniors.
 
• High housing expenses put the budgets of 6 out of 10 senior households of color at risk.
 
“These data show that millions of African American and Latino seniors are living on the edge of
financial collapse, unable to rely on assets, income, or other pillars of financial stability. Their
circumstances are only made worse by the recent economic downturn, which has been
characterized by dramatic losses in assets and housing values,” said Thomas Shapiro, co-author
of the report and Director of the Institute on Assets and Social Policy.
 
Policies must not only strengthen the existing safety-nets and promote asset building
opportunities for vulnerable seniors, they also must protect younger families to help them enter
retirement on a stronger economic footing. “Future retirees will be worse off unless we attend to
policies that grow their resources for the future, and combat the rising costs of essential expenses
for seniors,” said Jennifer Wheary, report co-author and a Senior Fellow at Demos.
 
READ FULL REPORT HERE
 
For more information and to download the report, visit www.iasp.brandeis.edu or
www.demos.org


Back to top
| Back to home page
Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News