A new report published by the Center for an urban future reveals that Long Island currently houses more than half a million older adults (65 years or older), the highest figure in its history. Older adults currently represent 17.8 % of the total population in Nassau and Suffolk counties, compared to 14.8 % of a decade ago.
The report, “the emerging financial security crisis among older adults in Long Island,” made thanks to an AARP New York subsidy, shows that a worryingly high percentage of older adults in Long Island seems not to have a stable source of retirement income.
In 2023, more than one in ten inhabitants of Long Island 70 years or more (10.4%) – 37,000 people – did not declare receiving income from the Social Security, the most important social security network in the country for the elderly Americans. In addition, 45.3% of those over 70 who live in Long Island – 161,000 people – did not declare receiving income.
At the same time, a growing proportion of older adults of Long Island lives in poverty. During the last decade, the number of local inhabitants of 65 years or more who live in poverty has increased 62%, far exceeding 24% in the adult population of Long Island.
At the state level, the number of major New Yorkers living below the poverty threshold increased by 48.1% during the last decade, also significant, but lower than that observed in Long Island.
Today, more than 32,000 older adults live in or below the poverty threshold (6.2%), compared to 19,846 in 2013. Given the growing financial insecurity, many more larger residents of Long Island remain in the workforce.
The number of older adults working in Long Island increased 53.5% in the last decade, from 76,579 in 2013 to 117,537 in 2023.
More than one in five older adults (22.6%) is currently employed, compared to 18.3% of ten years ago. Of these older adults, 24,000 work on their own. While some older adults, without a doubt, work more time due to their own decision, many more do it out of necessity.
“The population of Long Island is getting old quickly, but many of these major New Yorkers suffer from financial insecurity and fight to reach the end of the month,” said Jonathan Bowles, executive director of the Center for An Urban Future. “We will see thousands of older adults fall into poverty unless Long Island legislators now act to address the affordability challenges facing so many older adults.”
These challenges are particularly serious for colorful elders and immigrants. Poverty rates are higher among Hispanic older adults in Long Island, with 9.8%, followed by black older adults (6.5%), whites (6%) and Asians (4.6%).
The number of Hispanic older adults in poverty increased by 128% in the last decade, while poverty rates among Asians increased 66.6%.
Major immigrants in Long Island also face disproportionate difficulties, with a poverty rate of 6.9% compared to 6% of residents born in the United States.
Solutions for the crisis
«AARP New York is proud to collaborate with the Center for an Urban Future in this report, which highlights what we hear daily: too many long -born inhabitants have difficulty arriving at the end of the month as they age. With more than a third of Nassau and Suffolk residents over 50, the challenges only increase, ”said Beth Finkel, director of the New York State Office of AARP.
“Almost half does not have savings for retirement, poverty among older adults in Long Island has increased and family caregivers, the backbone of our long -term care system, are at the limit of their possibilities.”
«The good news is that we know what works. By supporting caregivers, expanding affordable housing and making our communities more friendly to older people, we can guarantee that Long Island is a place where older adults and people of all ages can live and prosper.
In addition to highlighting the growing financial insecurity faced by Long Island older adults, the report presents a series of political solutions to address the crisis.
These include:
– Create a state version of the tax credit for work income for New Yorkers over 65 years of age who declare income, since older adults are excluded from federal credit.
– Implement a state tax credit for family caregivers who support their older loved ones at home.
– Support income generation opportunities for older adults investing in the development of a workforce adapted to older people and launching regional programs for the elderly.
– Coordinate and expand the dissemination to register eligible homes in the State’s energy affordability program, which limits the costs of public services to 6% of family income.
– Release a multi -legal initiative to increase registration in federal, state and local benefits for eligible older adults, taking advantage of state data.
– Reduce the costs of prescribed medications by allowing the most economical medications of Canada or adopt pricing schemes similar to those of Canada.
– Expand affordable housing options for older adults and their family caregivers, including incentives for the construction of new homes and support to expand the Plus One ADU program.
– Eliminate waiting lists for key services for older people offering non -profit community organizations, from home meals to assistance with the transport and case management.
– Promote universal design in housing, providing local governments and real estate promoters technical assistance, model guidelines and planning support.
– Expand the Law of Complete Streets in New York and support local governments in the implementation of road safety initiatives similar to zero vision.
