The High Odds of Needing Help at Some Point in Your Life
Last year, Second Harvest Heartland served more than half a million people across Minnesota and western Wisconsin. Though the economy has been improving for many in our region, there is still a need. The reality for many seeking support, is that they are working, but with limited incomes and underemployment—it is difficult to support their families.
We see people move in and out poverty at all points of life, and many people—of all walks of life—may need help sometime during their lifetime. A new study highlights this, and concludes that the poor in American is not a permanent class of people. Who’s poor in any given year can vary year to year.
Washington University sociologist Mark Rank and his colleagues have been studying the economic fortunes of several thousand families in the longest running longitudinal survey in America. If you follow people over a really long period of time, they’ve found that an incredible number of people experience economic insecurity at some point.
From the Washington Post: Washington University sociologist Mark Rank has found that by the time people are 60 years old, nearly four in five people experience some kind of economic hardship. They've gone through a spell of unemployment, or spent time relying on a government program like food stamps, or lived at least one year in poverty or very close to it. "A lot of people tend to experience a year or two of economic insecurity, then get back on their feet, then maybe experience another year down the road," Rank says.
That’s why we do what we do—provide a bridge of stability to working adults, families and seniors during tough times.
Click here for the entire article, entitled, "The remarkably high odds you'll be poor at some point in your life."