Health is key to maintaining wealth f...( amics of the Oldest Old (AHEAD) ...),Health

Of the nearly 5,400 AHEAD participants used in Lee and Kim's study, approximately 3,000 were married and 2,400 were single. All were age 70 or older. Participants were questioned once about their wealth between 1993 and 1994, and then again between 1995 and 1996, so the researchers could gauge any difference in wealth over a two-year period.

These married couples lost some significant portion of their life savings during the study:

61 percent of couples whose health was stable during that time lost 10 percent or more of their wealth. 67 percent of couples in which at least one spouse developed a new chronic condition lost 10 percent or more of their wealth. 45 percent of couples in which at least one spouse developed a new chronic condition lost half or more of their wealth.

For single or widowed seniors, the numbers played out a little differently. These singles lost some significant portion of their life savings:

54 percent of singles whose health was stable lost 10 percent or more of their wealth. 60 percent of singles who suffered from a pre-existing chronic health condition lost 10 percent or more of their wealth. 47 pe
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Contact: Jinkook Lee
Lee.42@osu.edu
614-247-7892
Ohio State University
21-May-2003