Almost half (47%) of California’s elderly are unable to afford even their most basic needs.
Today poverty is rising among seniors faster than any other group. Two reasons for this are that the baby boom generation is retiring at the rate of 10,000 people per day, and that people are living longer and having to pay high medical costs.
51% of U.S. families headed by a person 65-74 had no money in retirement savings accounts in 2010.
Seniors experience more complications from chronic illnesses, leading to longer hospital stays - 20 percent of people over the age of 75 have five or more chronic illnesses. Malnutrition also increases the risk of falls - one in three seniors experiences a fall every year, and 30 percent suffer moderate to severe injury.