A majority of older American households spend less than they make, but in 2009, more than 14 percent of older households spent well beyond their means.
A new report by the Employee Benefit Research Institute found that single people, households without pensions, African-Americans and Hispanics are more likely to spend more than they earn. Health care and home-related expenses are the biggest drivers of income deficit.
Deficit spending is especially bad for the elderly, said Sudipto Banerjee, EBRI research associate.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
