Financial

Achieving and maintaining an adequate income by managing monetary resources

Financial security in later life is more than a worthwhile personal goal. It is also an explicit priority of Congress which, in the Older Americans Act of 1965, declared older adults' right to equal opportunity for an adequate income in retirement in accordance with the American standard of living. The Texas Department of Aging and Disability Services (DADS) believes financial knowledge and wise management of monetary resources are two key prerequisites for achieving economic security. This point is reinforced by DADS Vision Statement that states older Texans should have the opportunity to secure knowledge on economic security. Learn more.

Since its inception, Social Security benefits were meant to replace only some portion of pre-retirement earnings. Learn more.

Employer-provided pension plans, which provide a voluntary mechanism for workers to save for retirement, are key components of the nation's multi-faceted retirement income security system. Learn more.

Personal savings outside pension arrangements can contribute substantially to retirement income. Learn more.

To fulfill their potential as retirement income sources, pension assets and savings must be preserved and carefully managed. Some trends threaten to diminish retirement income from pensions and savings. Learn more.

Policies and programs exist to help older adults access financial resources . Learn more.

Despite various income sources and special programs and policies, high poverty rates persist among some groups of older adults. Learn more.

resources

Financial Issue
Financial facts, trends and issues

The letters PDF or symbol indicate a document is in the Adobe Portable Document Format (PDF). To view the file you will need the Adobe® Reader® which is available for free from the Adobe web site. You can also download the free Acrobat Accessibility Reader for PDFs.

Updated: November 2, 2007