Columnist: Many Older Adults Struggle To Meet Basic Living Expenses.

February 13, 2020

In a column for Reuters (2/13), Mark Miller criticizes “intergenerational warfare” rhetoric, especially the argument that older adults fighting for their Social Security benefits are “greedy geezers” stealing from the young. Miller says this argument “is economic nonsense” as recent research shows many older adults “are struggling to meet basic living expenses.” Furthermore, their economic pain also affects their younger family members. Miller cites an AARP survey, which “found that one-third of midlife adults with at least one living parent (32%) are providing financial support to them, usually for living expenses such as groceries and medical costs.” Additionally, about “half of midlife adults (54%) provided $1,000 or more to their parents in the last year; within that group, 34% provided help ranging as high as $5,000, and 13% provided help as high as $10,000.”

 



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Last modified on 02/14/2020


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