Information Center

Sources of Income for Older Adults

03/23/21

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 2019, nearly nine out of ten people 65 and older received Social Security benefits. More than half 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, 2019 Aged units, 2014
Social Security 84% 84%
Assets 68 62
Pensions 31 37
Earnings 24 29
Public Assistance   3   4
Veterans’ benefits   4   5
No income (less than $2,500)   1   N/A

 

For More Statistics on the Income of Older Adults:

Sources

Table 7. Different Sources of Income for Older Adults

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