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MarketWatch
Declining wealth and cost of necessities are the real worry when it comes to senior poverty
In the wake of the release of the Census Bureau’s Poverty in the United States: 2021, observers have noted that the poverty rate among the elderly ticked up from 2020, while it declined or remained unchanged, respectively, for those under age 18 and those ages 18-64 (see Table 1). Personally, I would not put too much weight on a one-year change in the poverty rate. First, while the official poverty rate was a major innovation when it was introduced in the late 1960s, it is very crude and tells us little about the well-being of older Americans.
