GOVERNMENT statistics........PAYING THE BILLS
Poverty: Approximately one out of every ten elderly persons was living in official poverty in 1996. This is between three and four million people. About 14% of elderly women and 7% of elderly men were officially poor. Also, 9.4% of the elderly whites, 25.3% of elderly African Americans, 24.4% for Hispanics were poor. And, for all groups, the older you get, the more likely it is you will become poor.
Median Income: The median income for elderly men in 1996 was $16,886 for whites, $11,570 for African Americans, and $9,794 for Hispanics. The median incomes of elderly women were substantially less: $9,654 for whites, $7,067 for African Americans, and $6,652 for Hispanics.
Social Security: For many, social security is all they have. However, some, have other means of support: interest (67%), pensions (32%), dividends (20%), wages & salaries (14%), and rents, royalties, and trusts (11%).
Housing: The overwhelming majority of elderly people live in households not in institutions. Half of the elderly poor spend 50% or more of their income in housing costs. Over 1/3 of all federally subsidized housing is occupied by older persons. |
