'It's becoming too expensive to live': Economic insecurity is upending the lives of millions of older adults as soaring housing costs and inflation diminish the value of fixed incomes.
. That tool, developed by researchers at the Gerontology Institute at the University of Massachusetts-Boston, suggests that 54% of older women who live alone have incomes below what's needed to pay for essential expenses. For single men, the figure is 45%.
Cohen has been told that her lease will be canceled at the end of January and that she'll be charged $1,200 a month until it's time for her apartment to be refurbished and for her to vacate the premises. That doesn't include non-routine expenses, such as new partial dentures that Cohen needs or hearing aids that she purchased several years ago for $3,400, drawing on a small savings account. If forced to relocate, Cohen estimates moving costs will top $1,000.
Around that time, England learned to her surprise that her name was not on the deed of the house she'd been living in. She had thought that had been arranged, and she contacted a legal aid lawyer, hoping to recover money she'd put into the property. Without proof of ownership, the lawyer told her, she didn't have a leg to stand on.England's story is complicated.
"If I were a younger person, I think I would be able to rebound from all the difficulties I'm having," she told me."I just never foresaw myself being in this situation at the age I am now.""Please help! I just turned 65 and [am] disabled on disability. My husband is on Social Security and we cannot even afford to buy groceries. This is not what I had in mind for the golden years.
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