Hawaii seniors have highest poverty rate in the US, report finds

PBN: … The study found that 7.6% of older couples in Hawaii live in poverty — the highest percentage in the nation.

Hawaii was also ranked the third most expensive state for kupuna in good health who rent their living spaces. Hawaii residents over 65 years of age in good health in Hawaii need a minimum yearly income of $32,048 for singles and $44,700 for couples, according to the study.

Those costs go up even higher for kupuna with medical issues, with that population needing minimum incomes of $34,728 for singles and $48,780 a year for couples to cover the additional expenses.

A recent poll of Pacific Business News' readers found that only 39% of those that answered the survey plan to retire in the Islands, with 20% saying a Hawaii retirement was likely, 16% on the fence saying it was somewhat likely, 14% saying it was not likely, and 11% saying that they had no plans of retiring in the Aloha State.

These averages pose a problem for older residents without savings since AARP Hawaii estimates that the average Social Security benefits in Hawaii for households of people 65 and older only amounts to about $17,898 a year…. 

MN: Costs for Maui County seniors high

LINK: Personalized Elder Index -- How Much do you need to live in your community in Hawaii?

read … Hawaii seniors have highest poverty rate in the US, report finds

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Elder Index Study

From ElderIndex.org, February, 2020

The Elder Economic Security Standard™ Index (Elder Index), was developed by the Gerontology Institute at the University of Massachusetts Boston. The Elder Index is a measure of the income that older adults need to meet their basic needs and age in place with dignity. The Elder Index is specific to household size, location, housing tenure, and health status. It includes the cost of:

Housing
Health Care
Transportation
Food
Miscellaneous Essentials

LINK: Personalized Elder Index -- How Much do you need to live in your community in Hawaii?