Income and Poverty Among Older Americans in 2007
"Older Americans are an economically diverse group. In 2007, the median
income of individuals aged 65 and older was $17,382 but incomes varied widely
around this average. One-fourth of Americans 65 or older had incomes of less than
$10,722 in 2007, while another one-fourth had incomes of $32,160 or more. As
Congress considers reforms to Social Security and the laws governing pensions and
retirement savings plans, it may be helpful to examine how changes to one income
source would affect each of the others, and thus the total income of older Americans..."