The Elder Economic Security Standard Index (Elder Index) is a measure of economic security for older adults developed by Wider Opportunities for Women in collaboration with the Gerontology Institute at the University of Massachusetts Boston. The Elder Index benchmarks basic costs of living for elder households. It illustrates how costs of living vary geographically and are based on the characteristics of elder households: household size, housing status (homeownership or renter), transportation and health status. The costs are for basic needs of elder households; they are based on market costs and assume no subsidies.
You can print off just the sections relevant to your county. This is a great tool for helping residents with budgeting and also understanding that it isn’t there fault that they cannot make ends meet when social security is their only form of income. It may also reduce the fear or stigma of applying for additional benefit programs, as you can chart how each benefit moves a resident’s net income closer to economic security.
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