The Bureau of Consumer Financial Protection today released a new report, Financial Well-being of Older Americans, that provides detailed information on the financial well-being scores by individual characteristics and issues of interest to people who work with older adults.
The report relies on data from a Bureau survey that measures financial well-being among older adults using the financial well-being scale. The scale, which the Bureau released in 2015, provides a comprehensive measure of a person’s financial situation. Since its release, many professionals are using the scale to understand and assess the financial well-being of their clients.
The BCFP hopes this report provides new insights into ways to help older adults improve and maintain their financial well-being.