Wednesday, September 30, 2026 | Edition 197 | Item #1

The good news, according to Census Bureau data released earlier this month, is that household income reached record highs last year and the overall poverty rate fell. The bad news is that this rising tide did not raise the boat of older Americans. 

According to an analysis by the AARP Foundation, more than 10 million adults over the age of 65 are living in poverty (compared to just 7 million in 2019) and the poverty rate in the 65+ group, using the Supplemental Poverty Measure (a broader measure of poverty that captures both government benefits on the income side and necessary expenses like healthcare on the cost side) rose from 12.7% in 2019 to 15.4%, the highest rate of any age group. The situation is significantly more difficult for older women, who have higher poverty rates than men throughout life, but especially in later years, where poverty rates climb to almost 17%. The gaps are even higher by race, with over 27% of Latino elders and over 25% of Black elders categorized as living in poverty under the SPM.

The other good news, and we really wanted to find some other good news, is that Social Security continues to do some heavy lifting, keeping 20.9 million older adults above the poverty line.