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Income from Other Sources

Older adults also receive income from other sources, such as earnings from work, assets, and public assistance.

Income from Assets

Older adults also receive income from savings accounts, certificates of deposit, stocks and bonds, retirement accounts (such as 401(k)s and IRAs), and other investments. Income from assets takes the form of interest, dividends, rents and royalties. In 2015, the median income from financial assets, for the 65 percent of persons age 65 and older who had these assets, was $1,683 a year [Also: See Sources of Income].

Table. 12. Income from financial assets for persons and aged units 65+

Beneficiary group

Median amount

Year

Persons 65+

$1,683

2015

Aged units 65+

$365

2014

 

Income from Earnings

In 2015, one out of four persons age 65 and older had earnings from work [See Sources of Income]. The median earnings for persons age 65 and older with earnings was $30,179 per year. 

Table 13. Median income of persons age 65 and older with income from earnings, by age

Age

Individuals, 2015

Aged units, 2014

65+

$30,179

$35,000

65-69

 

$31,023

$41,000

70-74

$30,000

75+

$21,994

N/A

80+

N/A

$26,000

Income from Public Assistance

Public assistance for older adults consists mainly of Supplemental Security Income (SSI) and state general assistance programs. SSI is a Federal program that provides income assistance to aged, blind or disabled people who have little or no income. Only three percent of people 65 and over received public assistance benefits in 2015 [See Sources of Income].

Table 14. Median benefit for persons age 65 and older with income from public assistance, by age

Age

Individuals, 2015

65+

$6,542

65-74

$7,098

75+

$5,866

 

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