New York City has seen a significant rise in the population of seniors aged 65 and over, with a notable portion lacking any retirement income. Nearly 19% of these individuals are ineligible for Social Security, and almost 60% of those over 70 report no retirement funds, particularly in the Bronx and Brooklyn. This trend coincides with looming federal budget cuts to programs aiding low-income residents. The poverty rate among seniors is climbing rapidly, notably impacting older Hispanic and Asian residents. The situation highlights a hidden crisis among senior citizens in the city, exacerbating struggles for many who have worked their entire lives.
New York is witnessing an unprecedented increase in seniors over 65 without retirement income, forcing many to work into their later years to survive.
The report highlights that nearly one-fifth of those 65 and older are ineligible for Social Security, signaling a concerning trend for the city's older immigrants.
With older adult New Yorkers now comprising 16% of the city's population, many are facing poverty, especially among Hispanic and Asian residents within the Bronx.
Michelle Bethea poignantly explains the struggles of seniors: 'You work all your life and you can't even eat, you can't buy clothes, you can't buy toiletries.'
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