Older Americans living in poverty face significantly shorter lifespans than their wealthier peers, new research shows, underscoring the critical role financial security plays in longevity.
The National Council on Aging (NCOA) and UMass Boston’s LeadingAge LTSS Center analyzed data from the University of Michigan’s Health and Retirement Study, which tracked 10,000 households from 2018 to 2022. Their findings reveal a striking nine-year gap in average life expectancy between seniors with the lowest incomes and those with the highest. One researcher called the disparity “really shocking,” according to CBS News.
“Mortality rates among older adults in the bottom 60% of wealth were nearly double those of older adults in the top 20%,” the NCOA summary noted. Even middle-income seniors experienced shorter lifespans compared with the most affluent. During the four-year study period, 15% of seniors in households earning roughly $60,000 died, compared with 11% of those in households earning around $120,000.
Experts point to multiple factors driving the longevity gap, including limited access to preventive care, the rising cost of medical services with age, and the chronic stress associated with financial insecurity. The research highlights a growing concern: the poverty rate among seniors rose to 15% last year, the highest of any age group, according to U.S. Census data. Approximately 80% of Americans over 60 have limited or no financial assets, leaving them highly vulnerable to life-altering events such as losing a spouse or needing long-term care.