Income Received By Different Groups

For a clearer picture of the economic status of today’s older adults, it is helpful to look at breakdowns of statistics by age, marital status, gender, and race, in addition to looking at overall income figures.

Income Differences by Age

In 2008, half of all individuals age 65 to 69 received less than $22,057 in yearly income, compared to the $16,491 received by people age 80 and older.

Table 3. Median annual income, by age
Age	Individuals, 2008	Households, 2008	Aged units, 2008
65+	$18,208	$31,157	$24,857
65-69	$22,057	$44,039	$35,257
70-74	$17,573	$30,966	$27,043
75-79	$17,573	$30,966	$22,578
80+	$16,491	$23,657	$19,412

Income Differences by Marital Status

In 2008, half of all married couples age 65 and over received less than $48,099 in yearly income, compared to $20,572 for nonmarried persons.

Table 4. Median annual income, by marital status, 65+
Demographic unit	Married couples	Nonmarried persons	Nonmarried men	Nonmarried women
Households, 2008	$48,099	$20,572	n/a	n/a
Aged Units, 2008	$43,087	$16,257	$26,057	$20,801

Income Differences by Gender

In 2008, half of all men age 65 and over received less than $25,344 in yearly income, contrasted with $14,429 for women.

Table 5. Median annual income, by gender, 65+
Gender	Individuals, 2008	Households, 2007
Men	$25,344	$40,185
Women	$14,429	$25,157
Total	$18,208	$31,157

Income Differences by Race and Ethnicity

In 2008, half of all Hispanics age 65 and older received less than $11,957 in yearly income, contrasted with $19,372 for whites.

Table 6. Median annual income, by race or ethnicity, 65+
Demographic group	Individuals, 2007	Households, 2007
White (Non-Hispanic)	$19,372	$32,514
African American	$14,357	$23,958
Hispanic	$11,957	$25,000
Total	$18,208	$31,157

For More Statistics on the Income of Older Adults:

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Did You Know?

A 401(k) plan is a retirement savings plan in which the benefit is based on contributions to an individual account and the investment return on those contributions. Typically, employees make contributions to the plan and, in many cases, employers match the employees' contributions. These plans are called defined contribution plans. In most 401(k) and other retirement savings plans, the employee is responsible for choosing among the investments offered by the plan. Other types of retirement savings plans are 403(b) and 457 plans.