Some issues senior citizens are facing in 2015 include low interest rates that reduce the amount they can make from fixed-income investments, a job market that is not always welcoming of senior citizens, rising health care costs and the need to support their adult children, according to The Motley Fool. Many of them also face debt-related burdens.Continue Reading
Although historically low interest rates have helped businesses and homeowners refinance their debt at more favorable rates, they have made it harder for senior citizens to bring in money from bonds, savings accounts, certificates of deposits and other forms of investments. Unemployed senior citizens who desire to enter into the workforce may find it harder to land positions, as many businesses prefer younger hires who they can offer lower wages. Because Medicare does not cover all medical expenses, senior citizens may also struggle to afford their health care needs as the prices of medical services continue to rise. In 2012, estimates from the Employee Benefit Research Institute indicated that as many as one in every five senior citizens skipped doctor's visits due to financial reasons.
Among all of these financial concerns, senior citizens also increasingly feel pressure to help their adult children financially. A 2014 Pew Research Center report indicated that 43 percent of senior citizens who no longer worked reported having to assist their adult children.Learn more about Older Adults