Wealth has long been linked to longevity in the US, but a new study reveals just how much of a gap there is between low-income and high-income older Americans. Low-income seniors over 60 die an average of nine years earlier than their wealthier counterparts.
Researchers found that middle-income seniors also tend to live shorter lives than those with higher incomes. In households earning around $120,000, only about 11% of seniors died during the study period, compared to 15% in households earning less than $60,000.
The study’s lead researcher said she was “shocked” by the nine-year life gap, highlighting a long-standing cultural assumption that with hard work and determination, anyone can age well. The findings have significant implications for an aging society struggling with widening economic inequality.
Low-income seniors often face financial instability, lack of preventative care, and stress due to making difficult decisions about basic necessities like groceries or medication. Eighty percent of people over 60 have few or no financial assets, leaving them vulnerable to financial shocks. This can lead to a cycle of financial insecurity, with family members picking up the cost of long-term care or medicine.
Source: https://www.cbsnews.com/news/low-income-americans-die-nine-years-younger