‘True Cost of Aging’ Index shows many seniors can’t afford basic necessities

Each month, Seeley, a retired teacher, gets $925 from Social Security and a $287 disbursement from an individual retirement account. To make ends meet, she’ s taken out a reverse mortgage on her Portland, Maine, home that yields $400 monthly. That’ s according to a valuable but little-known measure of the cost of living for older adults: the Elder Index, developed by…