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Today's Date: April 26, 2024

National Animation Museum Announces Collaboration with The Children's Museum of Indianapolis • Statement by the First Nations Leadership Council and Ministers Hajdu and Anandasangaree following their participation at Our Ga • KB Home Announces the Grand Opening of Its Newest Community Within the Highly Desirable Stanford Crossing Master Plan in Lathrop • Lucidea Press Releases New Museum CMS Title Demystifying Data Preparation • FanttikRide Unveils Officially Licensed Mercedes Benz AMG G63 Miniature Car for Kids • Metro Storage LLC Invests in Sustainable Future with Rooftop Solar Energy Panels • Snap Inc. Announces First Quarter 2024 Financial Results • Rap Snacks Joins Forces with Hip Hop Superstars, Quavo and Parlae, to Support Huncho Elite 7v7 Program and 7th Annual Huncho Day • Babcock & Wilcox Sets First Quarter 2024 Conference Call and Webcast for Thursday, May 9, 2024 at 5 p.m. ET • Conservation International Honors Jeff Bezos and Lauren Sánchez with its Global Visionary Award • New Research from Material and NewtonX Reveals Shifts in Digital Ad Spending and Social Media Strategies • AACN’s New Web Resource Focuses on Preparing Nurses with Essential Well-Being and Leadership Competencies • Hyosung TNC presents a new paradigm through sustainable bio BDO production. • Bethlehem Lecturer Sees Naked Public Square Grown Cold • OPAL Fuels Announces First Quarter 2024 Earnings Release Date and Conference Call • PharMerica Donates 719,287 Prescriptions to Underserved Patients in 2023 • AGNICO EAGLE REPORTS FIRST QUARTER 2024 RESULTS - STRONG QUARTERLY GOLD PRODUCTION AND COST PERFORMANCE DRIVE RECORD QUARTERLY F • AHF Praises Colombia for Putting Lives Before Pharma Greed • Yeshiva University Launches Accelerated Transfer Initiative for Students Who Feel Threatened at Current Universities • Freeport-McMoRan Publishes 2023 Annual Report on Sustainability

MINORITY SENIORS' PLIGHT

Waltham, MA—Millions of African-American and Latino seniors are living on the edge of

financial collapse, according to a new report, Severe Financial Insecurity among African

American and Latino Seniors. Released today by the Institute on Assets and Social Policy

(IASP) at Brandeis University and the public policy organization, Demos, the report finds that

African American and Latino seniors face widespread financial insecurity during retirement, a

trend accelerated by the current economic crisis. According to the study, 9 in 10 senior

households of color lack sufficient resources for long-term economic security.

Painting a daunting picture, these findings are a result of analysis utilizing the Senior Financial

Stability Index (SFSI), a tool developed by IASP and Demos to assess the long-term economic

security of seniors. A combination of inadequate pensions and savings, high housing costs,

accelerating health expenses, and other trends that affect seniors, will likely get worse, unless

policies are enacted to address them.

“The current economic crisis will compound economic vulnerabilities that have been building for

years unless policies are developed to reverse these trends,” said Tatjana Meschede, lead author

of the report released today.

Particular vulnerabilities identified in the report include:

• More than three–fourths of senior households of color do not have adequate financial resources

from savings, Social Security, or pension income to cover essential expenses for their expected

life spans.

• Out-of-pocket health care expenses are burdensome for 34 percent of African American and 39

percent of Latino seniors.

• High housing expenses put the budgets of 6 out of 10 senior households of color at risk.

“These data show that millions of African American and Latino seniors are living on the edge of

financial collapse, unable to rely on assets, income, or other pillars of financial stability. Their

circumstances are only made worse by the recent economic downturn, which has been

characterized by dramatic losses in assets and housing values,” said Thomas Shapiro, co-author

of the report and Director of the Institute on Assets and Social Policy.

Policies must not only strengthen the existing safety-nets and promote asset building

opportunities for vulnerable seniors, they also must protect younger families to help them enter

retirement on a stronger economic footing. “Future retirees will be worse off unless we attend to

policies that grow their resources for the future, and combat the rising costs of essential expenses

for seniors,” said Jennifer Wheary, report co-author and a Senior Fellow at Demos.

READ FULL REPORT HERE

For more information and to download the report, visit www.iasp.brandeis.edu or

www.demos.org

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