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Older New Yorkers Are Struggling With Their Finances

The latest findings from a comprehensive survey from the city Department for the Aging outlines the pressing issues older New Yorkers face, including paying bills and accessing fresh food.
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An increasing number of older New Yorkers are struggling to pay their bills and access healthy food, a new city report found.

New York City’s Department for the Aging on July 25 released The State of Older New Yorkers: Building an Age-Inclusive Future, a report based on a comprehensive survey that identifies the key needs and challenges facing older adults in the city.

The survey, conducted last summer, gathered responses from more than 8,600 older adults and caregivers across all five boroughs. It revealed that 41% of older New Yorkers have difficulty paying at least one bill and nearly 30% struggle to purchase healthy food.

Approximately 25% lack stable housing, while 28% face limitations, leaving their homes. Caregiving responsibilities are significant, with many younger adults caring for both seniors and minors, often spending between 15 and more than 30 hours per week providing care. One in four older adults reported experiencing age discrimination.

The survey was distributed in the 11 most spoken languages among older adults and caregivers and promoted through community events, social media and partnerships with community organizations. Most respondents do not currently access city aging services or programs.

This report is the first in a planned series that will explore additional topics such as elder justice, health and wellness and borough-specific findings.

"With this population continuing to grow, the time is now to take meaningful steps to prepare for our future," said NYC Aging Commissioner Lorraine Cortés-Vázquez. "This survey gives the city and the aging sector the data needed to make informed decisions that improve the quality of life for all New Yorkers.”

 

 




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