An economic profile of American older women.

This literature review examines the economic status of American women age 65 and older in view of their longevity, employment patterns, sources of income, income levels, potential for poverty, and their economic stake in current public policy debates and actions regarding Social Security, Medicare, Medicaid, and SSI. Although women live longer and therefore must stretch their financial resources further than men, longevity is not the sole cause of their economic vulnerability. Rather, it is associated with historical patterns of economic dependence on men; with sporadic, often low-wage or nonexistent employment histories; and with public policies and programs that place undue financial pressures on older women. Living alone is a major risk factor for poverty, and women of color are doubly at risk, with the highest poverty rates of all the elderly. Middle-class women face the possibility of "cycling into poverty" after widowhood, especially if their husbands suffered long, costly illnesses or spousal pensions shrink or disappear. While women's improving educational and work opportunities are likely to result in improved financial circumstances for future generations of older women, it will be necessary to move beyond their personal efforts to the public policy arena for solutions to the often devastating effects of uninsured health care costs, pension inequities, and other pressing economic concerns for older women.