Check Out the Elder Economic Security Standard™ Index and Find Out the Cost of a Secure Retirement
The Elder Economic Security Standard™ Index (Elder Index) measures the incomes retired elders need to achieve economic security. The Elder Index presents local expenses, savings requirements and economic security incomes by family type, and at the city, county and state levels. It is a comprehensive definition of, and blueprint for, economic security.
The Elder Index developed by Wider Opportunities for Women (WOW) and the Gerontology Institute at the University of Massachusetts Boston, is a measure of the income that older adults need to meet their basic needs and age in place with dignity.
Each Elder Index component is a conservative estimate of need, and the Elder Index does not include any “extras” such as vacations, entertainment, electronics, gifts or meals out. As a result, those living below an economic security income may be forced to go without, or make difficult choices among basic needs such as nutritious foods, prescription medications or adequate heating or cooling.
All budget components are calculated using publicly available data obtained from government and industry sources and market rate studies.
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