Information Center

Sources of Income for Older Adults

10/23/23

Today’s older adults typically have a number of sources of income. For most, the primary source of income is Social Security. Other sources are income from investments and other assets, pensions and other retirement plans, earnings from work and, for a small percentage, public assistance programs and veterans benefits.

In 2022, over eight in ten people 65 and older received Social Security benefits. More than two thirds received income from assets, such as stocks, bonds, and real estate, while nearly one-third received a regular payment from a pension or retirement savings plan. One out of five received income from earnings.

 

Table 7. Percentage of adults 65 and older receiving income from specified sources
Source of income Individuals, 2022
Social Security 83%
Assets 69
Pensions 30
Earnings 23
Public Assistance  2.5
Veterans’ benefits   4
No income (less than $2,500)   3

 

For More Statistics on the Income of Older Adults:

Sources

Table 7. Different Sources of Income for Older Adults

< Back

Sign up to receive updates from us:

Do you want to stay up to date on the latest retirement news and recent happenings at PRC?

Sign up to receive emails from us:

Click here >

Support the Pension Rights Center:

In today’s challenging pension environment, our work is more important than ever. Your contribution will help make it possible for the Center to continue its crucial role as a national consumer organization committed to protecting and promoting retirement security.

Donate >