Financial Inequity & Aging Adults in Massachusetts

Harry welcomes Laura D. Quinby, associate director of research, employee benefits and labor markets at the Center for Retirement Research at Boston College; and Luc Schuster, Executive Director at Boston Indicators to discuss the economic challenges facing older adults in Massachusetts. Their conversation revolves around a recent report by the Boston Foundation and the Center for Retirement Research, highlighting the wealth disparities among seniors, particularly focusing on racial inequalities and the impact of high living costs. Laura provides insights from her quantitative analysis, revealing that wealth is unevenly distributed, with significant disparities between white households and households of color. Luc complements this with findings from focus groups, emphasizing the critical role of subsidized housing and public benefits for lower-income seniors. The episode concludes with policy recommendations, including the potential benefits of auto IRA legislation and the importance of improved federal support for senior programs.   Topics 00:45 Wealth Gaps in the Golden Years 02:55 Quantitative Analysis of Senior Wealth 06:47 Racial Disparities in Senior Wealth 09:32 Focus Group Insights on Senior Living 20:25 Policy Recommendations for Senior Financial Security 29:20 Final Thoughts and Resources