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Assets of Older Minnesotans: Resources for Long-Term Care DHS Teleconference June 4, 2004

Assets of Older Minnesotans: Resources for Long-Term Care DHS Teleconference June 4, 2004 Hal Freshley, MBA. Survey of Older Minnesotans 2001. Who was surveyed? Age 55 and older (over-sample age 65+) Four socio-economic regions of the state Greater Metropolitan Twin Cities

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Assets of Older Minnesotans: Resources for Long-Term Care DHS Teleconference June 4, 2004

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  1. Assets of Older Minnesotans: Resources for Long-Term Care DHS Teleconference June 4, 2004 Hal Freshley, MBA

  2. Survey of Older Minnesotans 2001 Who was surveyed? • Age 55 and older (over-sample age 65+) • Four socio-economic regions of the state • Greater Metropolitan Twin Cities • Central Exurban Corridor • Western/Southwestern Tier • Northern/Northeastern Counties • Live in their own homes (not institutions) • 2,253 persons surveyed; +/- 2% margin of error

  3. What are “assets” of today’s older Minnesotans? Most have limited incomes . . .

  4. What are “assets” of today’solder Minnesotans? Almost half of persons aged 85+ are very low income. . .

  5. What are “assets” of today’solder Minnesotans? Older persons are more dependent on Social Security. . .

  6. What are “assets” of today’solder Minnesotans? Even low income elderly have some savings. . .

  7. U.S. Savings Rate in 1998the Lowest in 60 Years

  8. More Older people are hiringLTC assistance What are they buying?

  9. Sources of LTC

  10. Survey of Older Minnesotans 2001

  11. What are “assets” of today’solder Minnesotans? Most own their own homes . . .

  12. What housing modificationsare needed to “age in place”?

  13. Survey of Older Minnesotans 2001 Survey Results • 69 separate tables by age group, gender, marital status, living arrangement, education, income and region • On web at MBA’s website: http://www.mnaging.org

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