Come here often? Make your homepage » close


Your XFINITY Connect session has timed out due to inactivity. Click here to go back close

24/7 Wall St.: States Where Seniors Cannot Afford to Live

4. Connecticut

Elderly economic security gap: $8,020
Median elder income: $19,580 (7th highest)
Annual cost of comfortable living for an elder: $27,600 (3rd highest)
Life expectancy in years: 80.2 (5th longest)
Housing costs per month: $1,004 (5th highest)
Health care costs per month: $430 (6th highest)

Costs for all Connecticut residents, regardless of age, are in the top 10 for every measured category, including transportation, health care and utilities, according to MERIC’s cost of living report for Q4 2011. These costs are a heavy burden on the state’s retired citizens, as well. Connecticut’s seniors make $19,580 a year, the seventh-highest income in the country. However, the minimum income required to meet basic needs is $27,600, the third highest in the U.S., according to WOW’s Economic Security Database. The difference amounts to more than $8,000 each year.

(AP Photo)

More From 24/7 Wall St.:
The 10 Most Educated Countries in the World
American Companies Running Out of Cash
States Sunk by Underwater Mortgages

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

Ad Info - Ad Feedback

Ad Info - Ad Feedback