November 27, 2018 Financial Health

Financial Insolvency of the Elderly

Donna J. Jackson

Introduction

People are living longer due to advances in medical care, better nutrition, and generally higher standards of living. This presents unique challenges in every area of a person’s life, especially when it comes to finances. Methods of saving and planning for retirement used by previous generations no longer work for many older persons today, and the economic world has changed greatly since the current generation of senior citizens first began planning for this era of their lives. Therefore, a number of factors contribute to the precarious state of many senior Americans’ financial landscape.

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