With the Baby Boomers firmly in the retirement lane (with the blinker on, of course) and subsequent generations already there, the folks over at the U.S. Census Bureau recently published a new report detailing the income sources of older households. The report examines older households’ sources of income, the amounts of these incomes, and how much each source of income contributes to the total. As would be expected, older households receive income from a variety of sources, including social security, private retirement accounts, and earnings.
“Older households receive income from a variety of sources…The types and amounts of income are not the same for all older households…low-income households are more dependent on Social Security, while more affluent households have significant income from pensions and retirement accounts.”
Click here to read the full report at the U.S. Census Bureau.