As we live longer, our savings need to last longer, too. Get tips for money management, avoiding scams, and reducing debt to help make the most of your money as you age.
The EAC (Equity in Aging Collaborative) has adopted of the Elder Economic Security Standard™ Index, or Elder Index, as a tool for measuring the income older adults need to live independently. Nationally, and for every state and county in the U.S., the Elder Index uses various public databases to calculate the cost of health care, housing, food, transportation, and miscellaneous expenses for seniors. It represents a bare-bones budget, adjusted for whether older adults live alone or as part of a couple; whether they’re in poor, good, or excellent health; and whether they rent or own homes, with or without a mortgage.