Oklahoma Is One Of The Worst Places To Live For Older Americans

Oklahoma City OK

22 February, 2022

9:28 AM

Description

By Samuel Stebbins, 24/7 Wall St. Oklahoma City 2022-02-21 The COVID-19 pandemic ushered in a surge of retirements across the U.S. labor force. Experts estimate that in the first 18 months of the pandemic, there were 2.4 million more retirements than there would have otherwise been. Due in part to the historic increase, an estimated 19.3% of the U.S. population were retired as of mid-2021, the largest share in at least the last 25 years. The two primary reasons older Americans left the workforce for good in recent months were the health risks posed by the pandemic and rising asset values – particularly in housing and the stock market – that made retirement financially feasible. Indeed, health and financial stability are two of many factors that affect overall quality of life throughout old age. Here is a look at what it costs to retire comfortably in every state. With retirements at historic levels, 24/7 Wall St. created an index of over a dozen key socioeconomic measures to identify the best and worst states to grow old in. The measures were chosen to gauge the health, financial well-being, safety, and social engagement of 65 and older populations in each state. Only five states rank worse as a place for older Americans to live than Oklahoma. Remaining socially engaged throughout retirement can be critical to overall well-being, and some key measures of social engagement for older Americans are far below average in Oklahoma. For example, only about 36% of retirement age residents report doing favors for neighbors at least once per month, well below the 41% share of older Americans nationwide. Additionally, Oklahoma residents 65 and older belong to an average of 2.0 groups and organizations, the 10th smallest share among states. Health outcomes are also below average for older Oklahoma residents. Life expectancy at age 65 in the state is just 17.6 years, the fifth lowest of any state and about two years below the national average.     Can't see the article's infographic? Click here to view the original story.This story was originally published by 24/7 Wall St., a news organization that produces real-time business commentary and data-driven reporting for state and local markets across the country.