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Elderly Income

Income usually declines in households as the number of people in the household who are able to work declines (Joint Center for Housing Studies of Harvard University, 2014). When individuals reach their 60s, the drop in income becomes steeper and many older adults have lost their partner and spouse by the time they reach their 80s (Joint Center for Housing Studies of Harvard University, 2014). This means that their pensions and social security benefits may be reduced as well (Joint Center for Housing Studies of Harvard University, 2014). Although it is usual to leave the workforce by the age of 65, it has become more common for older households to remain employed (Joint Center for Housing Stu

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