Women Who Are Living Longer and in Poverty
July 21, 2026 | Ageism, Autonomy, Healthy Living, Retirement, Staying Safe
Editorial by Carol S. Heape, MSW, CMC, Fellow
Elder Options, Inc.
The following editorial is based on From Surviving to Thriving: Ensuring the Golden Years Remain Golden for Older Women, published by Justice in Aging and the Asset Funders Network (Copyright 2020).
After reading this publication, I felt compelled to share its findings because I believe many people, particularly women who are aging and living alone, can benefit from understanding the realities facing older women today.
The statistics are sobering.
Women are 80% more likely than men to experience poverty in retirement. More than 27 million women in the United States are over the age of 65, and far too many struggle to meet their basic needs. Many depend on government programs such as In-Home Supportive Services (IHSS), CalFresh (formerly Food Stamps), Medi-Cal, and Medicare to help pay for food, health care, and supportive services. These programs provide essential assistance during what should be the rewarding years of retirement.
Understanding Poverty
You may wonder how poverty is measured.
The federal poverty measure, developed in the 1960s, estimates how many people struggle financially. Although it is adjusted annually for inflation, it does not account for regional differences in the cost of living or the realities faced by many older adults. It also fails to adequately reflect disparities experienced by people based on race, ethnicity, marital status, or sexual orientation. Women of color, unmarried women, and many LGBTQ+ older adults experience poverty at significantly higher rates.
Why Are Older Women More Financially Vulnerable?
Historically, women have earned less than men. During World War II, women entered the workforce in large numbers while men served in the military. When the war ended, many women were expected to leave their jobs and return home. Those who remained employed often earned substantially less than men performing the same work, based on outdated assumptions about experience and capability.
Although progress has been made, the wage gap continues today. As a result, many women enter retirement with lower lifetime earnings, fewer retirement savings, and smaller Social Security benefits. Increasingly, women are working well into their 70s and even 80s simply because they cannot afford to retire.
Women are also far more likely to serve as unpaid caregivers for children, spouses, aging parents, and other family members. Time spent away from the workforce often means lower lifetime earnings and fewer years contributing to Social Security, reducing retirement income later in life.
As the report states:
Women often “find themselves with significantly less wealth to rely on as they age.” (p. 7)
Women who spent years raising children frequently experience even greater financial disadvantages.
The report also highlights significant racial disparities:
“In 2016, White families had median wealth of $171,000, while Black and Latinx families had median wealth of $17,409 and $20,920, respectively.” (p. 8)
Financial Exploitation
Older women, particularly those over age 80, are twice as likely as older men to become victims of financial abuse.
Older adults often lose substantial amounts of money through scams involving fraudulent loans, mortgage refinancing, home repair schemes, home modifications, payday loans, identity theft, and other financial crimes. Recovering from these losses is often impossible for someone living on a fixed income.
Where Does Retirement Income Come From?
Among the more than 45 million Social Security beneficiaries, women represent more than half of all recipients.
For many older women, Social Security provides approximately 80% of their retirement income, while men rely on Social Security for approximately 34% of their income.
The report notes:
“In 2016, the annual Social Security income received by women age 65 and older was $13,891.” (p. 10)
For women who did not work enough quarters to qualify for adequate Social Security benefits, Supplemental Security Income (SSI) may provide additional financial support.
Women comprise nearly two thirds of SSI recipients who qualify based on age. However, recipients must maintain countable resources below $2,000 to remain eligible, a limit that has remained unchanged since 1984, despite decades of inflation.
Food Assistance
The Supplemental Nutrition Assistance Program (SNAP), known in California as CalFresh, helps older adults purchase food.
Unfortunately, only about 42% of eligible olderadults participate. Many mistakenly believe they do not qualify or feel uncomfortable applying for assistance.
Retirement Savings
Traditional pensions have become increasingly rare.
The report states:
“Since 1980, pensions as a retirement source have become scarcer, with fewer and fewer workers finding defined benefit plans available at all.” (p. 13)
Even more concerning:
“Half of all families have no retirement account savings at all.” (p. 13)
Without pensions or retirement savings, many women depend almost entirely on Social Security.
Housing, Widowhood, and Debt
Economic downturns have disproportionately affected women, many of whom lost homes and significant financial assets during periods of recession. Women of color experienced even greater losses.
The death of a spouse can create additional financial hardship. Household income often decreases substantially as Social Security benefits are reduced from two recipients to one. At the same time, surviving spouses may inherit significant medical expenses and debt.
Financial insecurity has contributed to a growing number of bankruptcies among older adults. Today, one in seven individuals filing for bankruptcy is over age 65, and that number continues to rise.
Conclusion
Current measures of poverty do not adequately capture what it truly costs to age with dignity and financial security.
Simply living above the federal poverty level does not necessarily mean an older adult can comfortably afford housing, food, transportation, health care, and other necessities.
There is, however, reason for optimism.
The Elder Economic Security Standard Index (Elder Index), supported by the Retirement Research Foundation, seeks to determine the actual income older adults need to live with economic security rather than merely survive.
As the report concludes:
“When older women enter retirement age with insufficient liquid savings and little to no other assets, they are more vulnerable to economic insecurity or even poverty.” (p. 21)
It further recommends:
“As more older women continue to work into their 60s, 70s, and beyond, they need a safe and simple way to set aside some of their income as savings.” (p. 21)
The challenges facing older women are significant, but they are not insurmountable. By recognizing these disparities, strengthening retirement security, supporting caregivers, and advocating for policies that reflect today’s economic realities, we can help ensure that women who have spent their lives caring for others can age with dignity, independence, and financial security.