Half Of U.S. Seniors One ‘Shock’ Away From Poverty, Report Warns

NEW YORK  (TheStreet) — Are U.S. seniors “truly vulnerable” to spending their retirement in poverty?

That thought, almost unthinkable almost 15 years ago, is inching closer to reality, says a study from the Washington, D.C.-based Economic Policy Institute.

Older African-Americans (63%) and Hispanics (70%) are especially vulnerable to spending their golden years in economic peril, the study says, with 48% of all U.S. seniors, or about 19.9 million Americans, “one bad economic shock away” from falling off a financial cliff after age 65 — a fall from which they may not recover.

Read more: http://business-news.thestreet.com/philly/story/half-of-us-seniors-one-shock-away-from-poverty-report-warns/11947636