Income of the Aged Chartbook, 2000

 
Percentage receiving income from specified source, 2000
Source of income Percent
Social Security 90
Asset income 59
Retirement benefits other than Social Security 41
Public and private 2
Public 12
Private 27
Earnings 22
Public assistance 5
Veterans' benefits 4
 
Percentage receiving income from earnings and pensions, by age, 2000
Age Earnings Private pensions Public pensions
65–69 44 28 15
70–74 26 31 15
75–79 14 31 14
80–84 7 28 15
85 or older 4 22 13
 
Percentage receiving income from major sources, by race and Hispanic origin, 2000
Source of income White Black Hispanic
Social Security 91 88 77
Asset income 63 29 28
Pensions 43 33 22
Earnings 23 19 19
Supplemental Security Income 3 10 16
 

Change in percentage receiving income from major sources, selected years

This line chart shows the change in receipt of Social Security, asset income, pensions, earnings, and public assistance from 1962 to 2000. In 1962, 69% received Social Security. This percentage then sharply increased to a high of 92 in 1988, after which there was little movement before it slightly declined to 90 in 2000. Fifty-four percent had asset income in 1962. This percentage declined slightly to 49 in 1971, rose to a high of 69 in 1990, then steadily declined to 59 in 2000. The percentage receiving pensions steady rose from 18 in 1962 to a high of 45 in 1992, and declined slightly to 41 in 2000. The percentage with earnings starts at 36, drops to sharply to 27 in 1967, rises to 31 in 1971, drops to 22 in 1982, and remains at about that level to 2000. Fourteen percent received public assistance in 1962. That percentage drops to 10 in 1980, and declined to 5 in 2000.

Percentage receiving income, by income level, 2000
Median income (thousands of dollars) Percentage of aged units
Less than 5 5
5-9 17
10-14 18
15-19 13
20-24 10
25-29 8
30-34 6
35-39 4
40-44 3
45-49 2
50 or more 14
 
Percentage with various levels of income, by receipt of asset income, 2000
Median income
(thousands of dollars)
With asset income Without asset income
Less than 10 10 41
10–19 27 35
20–29 21 13
30 or more 42 11
 
Median income, by receipt of earnings and retirement benefits, 2000
Number of retirement benefits Median income (dollars)
With earnings Without earnings
No benefits 34,130 549
One benefit 33,268 11,562
Two benefits 44,980 24,611
 

Change in median income, by marital status and race, selected years

This line chart shows the change in median income in year 2000 dollars for married couples, nonmarried persons, whites, and blacks from 1962 to 2000. Income for married couples remained fairly level from 1962 to 1967 ($16,339- 17,390). It then sharply increased to 22,781 and continued to steadily rise with some slight ups downs until it leveled off at 31,188 in 2000. Income for nonmarried persons begins at 6,422, rises very slowly until ending at 12,715. For white persons, the 1967 amount of 9,806, rises to 13,802 in 1971. It keeps rising steadily without much fluctuation to 19,790 in 2000. The amount for black persons begins at 6,929, rises slowly, and ends with a sharp increase to 12,333 in 2000.

Shares of aggregate income for the lowest and highest income quintiles, by source, 2000
Source of income Percentage in
lowest quintile
Percentage in
highest quintile
Social Security 82 19
Pensions 3 19
Asset income 3 24
Earnings 1 35
Public assistance 8 -0.5
Other 2 2
 

Change in shares of aggregate income, by source, selected years

This line chart shows the change in shares of income from Social Security, asset income, pensions, earnings, and other income from 1962 to 2000. In 1962, the percentage for Social Security (31) rises to a high of 42 in 1994. It then declines to 38 in 1998 and continues at this rate to 2000. Asset income at 16 percent in 1962, rises to 28 in 1984, and a falls to 18 in 2000. Pensions begin at 9 percent, rise to a high of 20 in 1992, and remain at about the level ending at 18 in 2000. In 1962, earnings are at 28, decline to a low of 16 in 1984, and then rise to 23 in 2000. Other income starts at 16, declines to 10 in 1967, drops further in 1976 to 4, then drops slightly to 3 in 1982 where it remains at about that level until slightly declining to 2 before rising back to 3 where it remains.

Poverty status, by marital status, sex of nonmarried persons, race, and Hispanic origin, 2000
  Percentage poor Percentage near poor
Married persons 5 3
Nonmarried men 15 9
Nonmarried women 18 11
White 9 7
Black 22 9
Hispanic 19 12
 
Poverty status, by age, 2000
Age Percentage poor Percentage near poor
65–69 8 4
70–74 10 6
75–79 11 7
80–84 12 8
85 or older 14 12