Income of the Aged Chartbook, 2012

 
Percentage with various levels of income, 2012
Income (dollars) Percentage of aged units
Less than 5,000 4.5
5,000 to 9,999 6.9
10,000 to 14,999 12.6
15,000 to 19,999 11.8
20,000 to 24,999 9.1
25,000 to 29,999 7.9
30,000 to 34,999 6.6
35,000 to 39,999 5.1
40,000 to 44,999 4.2
45,000 to 49,999 3.8
50,000 to 74,999 12.4
75,000 to 99,999 6.1
100,000 or more 9.2
NOTE: Totals do not necessarily equal the sum of the rounded components.
Median income, by age and marital status, 2012
Age All units Married couples Nonmarried persons
65 to 69 39,599 62,122 22,194
70 to 74 31,339 49,866 19,209
75 to 79 25,244 41,222 16,908
80 or older 20,517 35,182 16,931
 
Median income, by marital status, race, and Hispanic origin, 2012
Characteristic Income (dollars)
Marital status  
Married couples 48,826
Nonmarried persons 18,299
Race  
White alone 29,887
Black alone 19,249
Asian alone 19,798
Hispanic origin 15,599
 
Constant (2012) dollar median income, by marital status and race, selected years
Year Married couples Nonmarried persons White Black
1962 21,857 8,591 -- --
1967 23,186 8,978 13,074 9,239
1971 30,374 11,616 18,402 10,731
1976 31,836 13,558 19,933 12,065
1978 33,312 13,769 20,987 11,444
1980 33,492 13,319 20,675 11,313
1982 35,997 13,990 22,484 11,373
1984 38,118 14,783 24,219 12,087
1986 39,571 15,041 24,677 12,464
1988 39,407 15,386 25,457 12,233
1990 41,021 16,068 25,545 12,274
1992 38,975 15,635 24,586 12,213
1994 38,800 16,120 24,712 13,591
1996 40,891 16,538 24,809 14,120
1998 42,504 16,924 26,699 13,260
2000 41,583 16,953 26,386 16,444
2002 41,426 16,833 25,657 15,315
2004 42,418 17,015 26,374 15,196
2006 43,623 18,140 28,082 16,400
2008 45,947 17,869 27,915 17,656
2010 47,084 18,174 28,654 17,334
2012 48,826 18,299 29,887 19,249
NOTE: -- = not available.
Percentage receiving income from specified source, 2012
Source of income Percent
Social Security 86.0
Asset income 51.3
Retirement benefits other than Social Security 39.4
Public and private 2.2
Public only 12.6
Private only 24.6
Earnings 28.3
Veterans' benefits 4.2
Cash public assistance 3.6
Noncash benefits 11.6
 
Percentage of aged beneficiary units receiving Social Security benefits, by relative importance of benefits to total income, 2012
All beneficiary units Beneficiary married couples Nonmarried beneficiaries
50% or more of income 64.6 52.3 73.8
90% or more of income 36.1 21.6 46.8
 
Percentage receiving income from earnings and pensions, by age, 2012
Age Earnings Private pensions Public pensions
65 to 69 49.7 24.1 15.8
70 to 74 30.6 29.0 14.6
75 to 79 19.8 28.6 15.5
80 or older 8.5 26.9 13.6
 
Percentage receiving income from major sources, by race and Hispanic origin, 2012
Major source of income White alone Black alone Asian alone Hispanic
Social Security 87.6 79.3 68.7 74.8
Asset income 55.3 25.9 37.9 24.8
Pensions 41.1 33.1 21.4 19.4
Earnings 28.6 23.8 28.8 25.5
SSI 2.4 7.1 11.1 9.5
 
Percentage receiving income from major sources, selected years
Year Social Security Pensions Asset income Earnings Cash public assistance
1962 69 18 54 36 13
1967 86 22 50 27 12
1971 87 23 49 31 10
1976 89 31 56 25 11
1978 90 32 62 25 10
1980 90 34 66 23 10
1982 90 35 68 22 8
1984 91 38 68 21 9
1986 91 40 67 20 7
1988 92 42 68 22 7
1990 92 44 69 22 7
1992 92 45 67 20 7
1994 91 42 67 21 6
1996 91 41 63 21 6
1998 90 43 63 21 5
2000 90 41 59 22 5
2002 90 41 55 22 5
2004 89 41 55 24 4
2006 88.5 41.3 54.9 24.6 3.7
2008 87.2 40.7 54.4 26.4 3.9
2010 86.3 39.7 51.9 26.3 3.7
2012 86.0 39.4 51.3 28.3 3.6
SOURCE: March Current Population Survey, Survey of the Aged, and Survey of Demographic and Economic Characteristics of the Aged.
Percentage with various levels of income, by receipt of asset income, 2012
Income (dollars) With asset income Without asset income
Less than 10,000 3.7 19.7
10,000 to 19,999 15.0 34.2
20,000 to 29,999 16.2 17.7
30,000 or more 65.1 28.4
 
Median income, by receipt of earnings and retirement benefits, 2012
Receipt of retirement benefits With earnings With no earnings
No retirement benefits 55,450 0
One retirement benefit type 54,000 16,199
Two retirement benefit types 72,718 34,874
NOTE: Retirement benefit types are Social Security, Railroad Retirement, government pension, and private pension or annuity.
Shares of aggregate income for the lowest and highest income quintiles, by source, 2012
Source of aggregate income Percentage of aggregate income for lowest quintile Percentage of aggregate income for highest quintile
Social Security 83.2 15.9
Earnings 2.8 17.2
Pensions 1.4 14.8
Asset income 2.7 49.9
Cash public assistance 8.1 0.0
Other 1.6 2.0
NOTES: The quintile limits for aged units for 2012 are $13,292, $22,021, $35,493, and $63,648.
Totals do not necessarily equal the sum of the rounded components.
Shares of aggregate income, by source, selected years (in percent)
Year Social Security Pensions Asset income Earnings Other
1962 31 9 16 29 15
1967 34 12 15 29 10
1976 39 16 18 23 4
1978 38 16 19 23 4
1980 39 16 22 19 4
1982 39 15 25 18 3
1984 38 15 28 16 3
1986 38 16 26 17 3
1988 37.9 17.5 24.8 17.0 2.8
1990 36.4 18.3 24.5 17.7 3.1
1992 39.5 19.6 20.6 17.1 3.2
1994 42.1 18.7 17.6 18.0 3.6
1996 40.3 18.5 18.0 20.0 3.2
1998 37.6 18.7 19.9 20.7 3.1
2000 38.4 18.0 17.5 23.1 3.0
2002 39.4 19.0 13.6 24.9 3.1
2004 38.6 19.7 12.6 26.3 2.7
2006 36.7 17.9 14.9 27.8 2.7
2008 36.5 18.5 12.7 29.7 2.7
2010 36.7 18.6 11.4 30.2 3.1
2012 35.3 17.1 10.5 33.9 3.0
SOURCE: March Current Population Survey, Survey of the Aged, and Survey of Demographic and Economic Characteristics of the Aged.
NOTES: Totals do not necessarily equal the sum of the rounded components.
Statistic was not produced in 1971.
Percentage with various levels of family income, 2012
Income (dollars) Percent
Less than 5,000 2.2
5,000 to 9,999 3.7
10,000 to 14,999 7.7
15,000 to 19,999 8.5
20,000 to 24,999 7.8
25,000 to 29,999 8.1
30,000 to 34,999 7.0
35,000 to 39,999 5.9
40,000 to 44,999 4.9
45,000 to 49,999 4.8
50,000 to 74,999 16.1
75,000 to 99,999 8.9
100,000 or more 14.4
NOTE: Totals do not necessarily equal the sum of the rounded components.
Family income of persons 65 or older tends to be higher than the income of aged units 65 or older because it includes income from all family members, not just a spouse. In addition, each elderly person counts individually rather than as part of a marital unit; statistics based on aged units give greater weight to nonmarried persons as compared to statistics based on persons.
Median family income, by sex and age, 2012
Age All persons Men Women
65 to 69 51,074 56,681 47,749
70 to 74 41,469 47,342 37,008
75 to 79 34,404 40,998 29,998
80 or older 28,798 33,600 25,328
NOTE: Family income of persons 65 or older tends to be higher than the income of aged units 65 or older because it includes income from all family members, not just a spouse. In addition, each elderly person counts individually rather than as part of a marital unit; statistics based on aged units give greater weight to nonmarried persons as compared to statistics based on persons.
Median family income, by sex, race, and Hispanic origin, 2012
Sex, race, or Hispanic origin Dollars
All persons 39,196
Men 45,398
Women 34,613
White alone 39,711
Black alone 30,049
Asian alone 54,399
Hispanic 31,122
NOTE: Family income of persons 65 or older tends to be higher than the income of aged units 65 or older because it includes income from all family members, not just a spouse. In addition, each elderly person counts individually rather than as part of a marital unit; statistics based on aged units give greater weight to nonmarried persons as compared to statistics based on persons.
Family income source, by sex, 2012
Source of income All persons Men Women
Social Security 87.5 86.3 88.6
Asset income 56.2 58.8 54.1
Retirement benefits other than Social Security 42.9 45.3 40.9
Earnings 39.6 43.1 36.8
Veterans' benefits 4.7 6.1 3.6
Cash public assistance 4.6 3.9 5.2
Noncash benefits 9.9 7.8 11.6
NOTE: Family income of persons 65 or older tends to be higher than the income of aged units 65 or older because it includes income from all family members, not just a spouse. In addition, each elderly person counts individually rather than as part of a marital unit; statistics based on aged units give greater weight to nonmarried persons as compared to statistics based on persons.
Percentage of aged persons in families receiving Social Security benefits, by sex and relative importance of family benefits to family total income, 2012
All persons Men Women
50% or more of income 55.9 52.1 58.9
90% or more of income 26.7 23.0 29.6
NOTE: Family income of persons 65 or older tends to be higher than the income of aged units 65 or older because it includes income from all family members, not just a spouse. In addition, each elderly person counts individually rather than as part of a marital unit; statistics based on aged units give greater weight to nonmarried persons as compared to statistics based on persons.
Poverty status, by sex, marital status, race, and Hispanic origin, 2012 (in percent)
Sex, marital status, race, or Hispanic origin Poor Near poor
All persons 9.1 5.5
Men 6.6 4.3
Women 11.0 6.5
Married 4.4 2.8
Nonmarried 15.2 9.0
White alone 7.8 5.1
Black alone 18.2 8.9
Asian alone 12.3 4.8
Hispanic 20.6 8.8
 
Poverty status, by age, 2012 (in percent)
Age Poor Near poor
65 to 69 7.8 3.8
70 to 74 8.1 4.8
75 to 79 9.4 6.6
80 or older 11.4 7.7