Only one-third of people now employed has tried to learn how much they must save to achieve a comfortable retirement. For many reasons, most older women and minorities cannot meet their financial needs over their life course. Women thus make up almost three- quarters of all older persons below the poverty level. Whether or not a person plans well for their older years will clearly determine their financial well being and quality of life. Adequate income and assets are critically important to enable well being in virtually all dimensions of life in the later years.
Most older people prefer to remain in their own homes during their later years.
Some older individuals will modify their homes to remain in familiar surroundings, even if they should become frail and vulnerable. A move to a new living arrangement, whether required by frailty or by chronic illness, can be traumatic. It can entail leaving both a familiar, lifelong home and ties to supportive neighbors. Life course plans must consider whether current living arrangements will work if frailty or chronic illnesses become factors. These plans must consider the physical design of a dwelling.