Lower-middle class Americans near retirement are worse off than 20 years ago, new study shows

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Lower-middle class Americans near retirement are worse off than 20 years ago, new study shows
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Lower-middle class Americans nearing retirement age are worse off than their counterparts more than two decades ago, while upper-middle Americans have largely seen their life expectancy and wealth improve. Policymakers, meanwhile, overlook the lower middle group of Americans who don't qualify for many assistance programs. That's according to a new study by the USC Schaeffer Center for Health Policy & Economics and the Columbia University Mailman School of Public Health.

at age 60 increased 1.5–2 years for the higher economic groups but was stagnant or decreased for the lower ones. They found a similar pattern when they looked at the number of future life years without disability.at age 50 for both the upper and lower middle has worsened over the past two decades, but health is deteriorating faster for the lower middle. Worsening health includes increased hypertension, diabetes, and heart disease.

The growing gap was driven by robust growth in private income and housing wealth for the upper-middle group, compared with stagnation in both categories for the lower-middle group, whose reduced economic fortunes included a striking drop in homeownership at midlife. The lower-middle trailed the upper-middle group in homeownership by 10 percentage points in 1994; by 2018, this gap had tripled.

The study authors said the ripple effect—an overburdened health care system, reduced productivity and strained family caregivers—should concern Americans at every income level.

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