Rights Of Senior Citizens Essay

Rights Of Senior Citizens Essay-26
The survey further points out that the increase in the poverty rate was even steeper among the senior citizens aged between 75 and 84 years over the same period; from 7.6 to 10.7 percent.The survey also found out that the oldest retirees are the people who are most likely to live in poverty with the estimates standing at 14.6 percent in 2009.Available data show that older Americans are falling into poverty as they age. So, how did this very bad situation of poverty among senior citizens in the United States happen?

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Because of this condition, those who are not eligible for Medicare resorted to home equity loans and use of credit cards to pay their bills.

Because of this poverty status for elderly aging (55 to 64) increases rapidly.

Indeed, since 1988, the firm highly focused on acquisitions for achieving a rapid growth in the USA market.

As Citizens Group was growing the need for securing the firm’s coherence was made clear.

The other biggest driver of poverty among senior citizens in the United States is the high medical costs (Uche 32).

Medical expenditures for the senior citizens increase as they grow older.

Since its first establishment, in 1828, the company has highly emphasized on expansion as a tool for increasing its competitiveness.

The incorporation of the firm in RBS in 1988 resulted to the increase of the funds available to Citizens Bank for expansion.

Majority of the senior citizens spend down their retirement savings very fast, especially in the period of recessions (Uche 56).

It has been found out that as people age, their personal pension and savings accounts are depleted.

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