Wider Opportunities for Women (WOW) and the Gerontology Institute at the University of Massachusetts/Boston recently created the Elder Economic Security Standard™ Index (Elder Index).  This new tool will help people measure the income that older adults must have to meet their basic needs and age in place with dignity.

The Elder Index, specific to household size, location, housing status, and health status, includes the cost of transportation, housing, health care, food, and miscellaneous essentials. It does not, however, include any such elements as gifts, vacations, or meals out. The index outlines the basic living costs for singles and couples with and without a mortgage or renting a one-bedroom apartment.

To learn more about this tool, click here.

The index is a major component of WOW’s national Elder Economic Security Initiative, which offers concrete ways to shape policies and programs to build economic security for elders and their families. The initiative combines organizing, advocacy, and outreach at the national, state, and community levels. It is currently active in 17 states.