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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 2018, half of all individuals age 65 to 69 received less than $29,764 in yearly income, compared to the $22,287 received by people age 75 and older.

Table 3. Median annual income, by age

Age

Individuals, 2018

Households, 2018

Aged units, 2014

65+

$25,601

$43,696

$30,193

65-69

$29,764

 

$52,465

$40,013

70-74

$27,090

$34,704

75+

$22,287

$34,925

N/A

80+

N/A

N/A

$22,232

Income Differences by Marital Status

In 2018, half of all married couples age 65 and over received less than $67,532 in yearly income, compared to $26,163 for nonmarried persons.

Table 4. Median annual income, by marital status, 65+

Demographic unit

Married couples

Nonmarried persons

Nonmarried men

Nonmarried women

Households, 2018

$67,532

$26,163

$29,665 $23,114

Aged Units, 2014

$54,860

$19,656

$31,493

$24,768

Income Differences by Gender

In 2018, half of all men age 65 and over received less than $34,267 in yearly income, contrasted with $20,431 for women.

Table 5. Median annual income, by gender, 65+

Gender

Individuals, 2018

Households, 2018

Men

$34,267

$31,527

Women

$20,431

$23,975

Total

$25,601

$43,696

Income Differences by Race and Ethnicity

In 2018, half of all Hispanics age 65 and older received less than $15,237 in yearly income, contrasted with $28,280 for whites.

Table 6. Median annual income, by race or ethnicity, 65+

Demographic group

Individuals, 2018

Households, 2018

White (Non-Hispanic)

$28,280

$45,853

African American

$19,041

$28,463

Hispanic

$15,237

$27,044

Total

$25,601

$43,696

 

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