MarketWatch: Can we Close the Retirement Security Gaps in America? (April 18, 2022)
The American Society on Aging’s (ASA) massive annual conference typically focuses on themes like the health or vitality of older adults. But this year’s On Aging meeting in New Orleans (the group’s first in-person confab in three years) had a far different, gripping focus: Advancing Economic Security.
“Economic security in America, especially for older Americans, is an illusion,” said keynote speaker Raymond Jetson, president and CEO of MetroMorphosis, a Baton Rouge, La. nonprofit working to transform urban communities from within.
Tracey Gronniger, the directing attorney for the nonprofit Justice in Aging’s Economic Security team noted that “housing for older adults is a growing crisis.” Currently, two million low-income older adult households are “severely rent burdened” she said — meaning they spend 50% or more of their income on rent.