GROWING OLDER IN NY
Different generations of New Yorkers work toward their retirement savings
According to Fidelity Investment, by the age of 67, people should have 10 times their salary saved for retirement.
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In a city of more than 8 million people, one out every five is considered an older New Yorker. For many, that brings a new set of priorities unique to our city.
All this week, NY1 is examining the experience of growing older in New York — from planning for your financial future to taking care of a parent to multi-generational families under one roof.
According to Fidelity Investment, by the age of 67, people should have 10 times their salary saved for retirement.
The city has budgeted $14 million for the 36 NORCs that are established in the five boroughs.
With no savings or Social Security benefits to fall back on, some older immigrants feel exploited as they struggle to make ends meet.
Older adults now make up 20% of New York City’s population, and one in every four older New Yorkers report mobility and self-care challenges.
