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IPFS News Link • Economy - Economics USA

Almost Half Of Americans Will Die Without A Nickel To Their Name

•, Maryalene LaPonsie
 The study, which tracked senior citizens from 1993-2008, grouped seniors by their marital status to examine the differences between these categories: Always single Married at the start of retirement, but single by death Married until death Married seniors fare the best

Single seniors were most likely to have low incomes and limited assets. The study found 52 percent of individuals in this category lived on less than $20,000 annually and died with less than $10,000 in financial assets.

Seniors who were married at the time of retirement but outlived their spouse fared better with only 36 percent falling below those income and asset levels. Individuals who were still married at death seemed to be the most financially secure with only 26 percent living below those levels.

In addition, single individuals had significantly lower annual wealth than those who were married. According to the research, unmarried seniors had a median annual wealth of $165,000. That figure included both current and future Social Security income as well as pensions, home equity and financial assets such as CDs, money market accounts and savings accounts.

1 Comments in Response to

Comment by Temper Bay
Entered on:

If you do have money the relatives will fight over it and/or the State will take it.  Why feed the sharks?

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