According to a 2010 report from the National Council on Aging (NCOA), nearly a third of Americans aged 65 and older are either impoverished or economically insecure-defined as living at or below 200 percent of the federal poverty level.
But the people at NCOA are not just talking about the growing number of low-income seniors; they're doing something about it.
Economic Security Service Centers Help Seniors with Financial Planning
The National Council on Aging is setting up Economic Security Service Centers in eight U.S. cities-Baltimore, Chicago, Cleveland, Detroit, Los Angeles, Milwaukee, New York and Tucson-to offer seniors a one-stop shop for comprehensive financial planning advice and access to community-based support services and assistance programs.
"With 13 million older adults living near poverty, and unemployment for older workers at an all-time high, people need help getting services and support from a very fragmented system," said James Firman, president and CEO of NCOA, in announcing the new initiative at the Aging in America Conference in March 2010.
"Our Economic Security Service Centers will provide comprehensive, personal support and follow up from one location to ensure that older adults can benefit from income support and employment programs, foreclosure mitigation, debt management, legal aide, reverse mortgages, and the many other services for which they are eligible."
NCOA launched its new initiative as a national demonstration program, which will offer free counseling, support and personal economic casework to 4,000 economically vulnerable older adults in the eight target cities between 2010 and 2012.
"This program provides services and support right where people need them," said Jonathan Lavin, chief executive officer of Chicago-based AgeOptions, one of the service center locations. "People are often overwhelmed and confused by red tape when seeking services. We can sit right next to them and help them navigate the full range of public and private services that can really improve their quality of life."
How Economic Security Service Centers Work
The eight service centers will provide each low-income client with a comprehensive, personalized financial assessment and economic security plan.
Community-based staff will also connect seniors with a range of benefits and solutions, and provide personal assistance and follow-up to ensure they actually receive the services and programs.
"This new breed of economic support is ideal for older adults living near poverty who have complex needs," said Michael Marcus, program officer of the Harry and Jeannette Weinberg Foundation, which provided a $1 million grant to launch the demonstration program.
"While we have long supported community service organizations that relieve the burden of poverty, we are especially excited about the comprehensive reach and national influence of this program."
How to Find an Economic Security Service Center
Learn more about Economic Security Service Centers at NCOA's Economic Security Service Centers page. To find Economic Security Service Center locations, see the Economic Security Service Center directory.