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:
- Income of Older Adults from All Sources
- Income of Different Groups
- Income from Social Security
- Income from Pensions
- Income from Other Sources
Sources
Table 7. Different Sources of Income for Older Adults
