Wealth is health? Shocking American report reveals older adults from low-income families die almost a decade early

A report spotted a nine-year life gap where American seniors from low-income families die earlier. Find out how poverty affects lifespan.

'Health is wealth' is a saying that emphasises the value of good health over money. It does make sense, as only when you are healthy will you be able to enjoy the materialistic possessions you buy with money. But a recent American report shows that the reverse is also true- wealth is health. Turns out wealth does have a substantial influence over your health, particularly in your golden years. Poverty takes away life, literally.

The report released by the National Council on Aging (NCOA) and the University of Massachusetts Boston's LeadingAge LTSS Center revealed an alarming reality. The older Americans with low incomes are living significantly shorter lives than wealthier people. In fact, those with financial struggles die almost nine years older than those who are affluent. This is an interesting finding as it sheds light on how economic inequality and improper distribution of resources in society impact wellness and, subsequently, lifespan itself.

Income influences longevity

The study examined the data from 2018 to 2022 of the University of Michigan's Health and Retirement Study. The researchers tracked the data of 10,000 households. Based on the data, they were able to identify a whopping nine-year life gap. Seniors with low incomes live about nine years less than wealthier seniors.

Revealing some stats, about 15 per cent of the households that roughly earn $ 60,000 lost a senior during the study period. But, on the contrary, only 11 per cent of households with $120,000 lost a senior in the same duration.

Financial stress

The findings highlight the increasing economic inequality in the US, and more broadly also show a close link between wealth and longevity. Financial stress is literally taking years off people's lives. The pressure is also evident in their daily lives as seniors are often faced with tough trade-offs, figuring out what to choose among the basic necessities like food, housing or essential medications.

Jessica Johnston, senior director of the NCOA's Center for Economic Well-Being spoke about the financial decision-making stress to CBS News, “Older adults are placed into situations where they are going to have to make really difficult decisions: Am I going to go to the grocery store, am I going to pay rent, or am I going to get my medication? It's not only about forgoing one of those things, but it's the added stress about those decisions.”

Illustation via Google Gemini.

This daily strain in decision-making can lead to serious consequences, such as skipping medicines or doctor visits in order to pay rent or afford groceries. The lack of medical attention may further worsen existing health conditions, shortening their life expectancy.

Along with this, there's also a ripple effect as the younger generations, like Gen X and millennials, have to shoulder the financial burden of supporting older family members because of seniors' lack of financial assets.

Johnson addressed this burden, “If older adults can't afford long-term care or can't afford medicine, family members are often picking up that cost. The lost economic productivity among Gen Xers and millennials will play out over the next one to two decades.”

Note to readers: This article is for informational purposes only and not a substitute for professional medical advice. Always seek the advice of your doctor with any questions about a medical condition.