Describe the types of financial concerns many older adults experience.

Question

A: Older adults might experience financial concerns such as not being able to afford expensive health care, and residing in retirement homes and losing their independence?

Answer 1

Losing independence in a retirement home is not a financial concern. Also, adults over the age of 65 have Medicare.

Older adults fear being laid off their jobs and being unable to get another job, They also worry about running out of money if they don't have a company retirement fund. Saving money in a a personal retirement fund is difficult for low-wage workers.