What happens if an elderly person runs out of money?
According to a 2025 analysis, a rising number of older Americans are living below the poverty line, forcing many to confront a difficult reality. When this happens, a senior's retirement income sources are exhausted, forcing them to rely on limited income streams or public assistance to cover essential costs. The consequences of a financially depleted retirement can include losing one's home, moving to a low-income or Medicaid-funded facility, or living in poverty. Navigating the options requires careful planning and understanding of the available resources.