The fastest-growing homeless population? Seniors. [View all]

California accounts for about a third of the nation’s homeless people, and among this population, seniors are estimated to be the fastest-growing group. One key indicator is the state’s tally of people accessing homelessness services. From 2017 to 2021, California’s overall senior population grew by 7% but the number of people 55 and over who sought homelessness services increased 84% — more than any other age group — according to the state’s Homeless Data Integration System.

For comparison, the number of people accessing homelessness services across all ages increased 43% during this time period.

Elderly people who are homeless include those who have been unhoused for a long time and are getting older. But they also include those who are part of a growing trend, research shows: people experiencing homelessness for the first time after age 50.

Those at increased risk of losing shelter tend to be older adults who live alone and on fixed incomes, with little to no savings. A main contributor, experts say, is that as California rents soar, seniors’ income streams, including Social Security benefits and Supplemental Security Income, have not kept up.

FULL STORY: https://calmatters.org/health/2023/02/california-homeless-seniors/

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35 years ago a financial advisor asked me what I'd want to receive in retirement income. After I told her, she said I would need to double that.

It was among the best advice I ever got. It's also why I'm not retiring at age 66 1/2.