by Thomas D. Begley, Jr., CELA<\/p>\n

As the population of the United States tend to age and Baby Boomers begin retiring in large numbers, there are a number of problems that will affect the elderly that need to be addressed.<\/p>\n

Retirement Income.<\/em> In 2012, people age 65 and older had an average income of $31,742, but the median income was less than $19, 604. About 30% of older Americans receive pensions. The median was $12,000. Only 46.5% of older Americans reported income from personal savings, but half receive $255 or less per year. The mean was $3,233 per year. Only 20% of older Americans had dividend income with the median amount being $1,200.[1]<\/a> Social Security is the only source of income for 25% of older adults in New Jersey.[2]<\/a> It is generally estimated that for a comfortable retirement a person must have an income equal to 70% of salary in the year just (more…)<\/span><\/a><\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
by Thomas D. Begley, Jr., CELA As the population of the United States tend to age and Baby Boomers begin retiring in large numbers, there are a number of problems that will affect the elderly that need to be addressed.…<\/span><\/p>\n
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