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New Online Tool: Estimate Your Retirement Costs

The Elder Economic Security Standard Index (Elder Index) is a measure of the income that older adults need to meet their basic needs and to achieve economic security.

The Elder Index -- a new tool from Wider Opportunities for Women (WOW) and the Gerontology Institute at the University of Massachusetts Boston -- is specific to household size, location, housing status and health status.

While the estimator does not include estimates on luxuries or extras such as dining out, gifts or vacations, it does include a conservative estimate of the costs in these four areas:

  • Housing
  • Health Care
  • Transportation
  • Food
  • Miscellaneous Essentials

The index can be used to compare the retirement costs of one geographic area to another (perhaps in the event you are considering relocation when you retire).

To access the Elder Index, go to: