The Administration on Community Living published its annual statistical report on America’s aging population, titled A Profile of Older Americans: 2016.
The profile covers 15 topical areas including population, income and poverty, living arrangements, education, health and caregiving. Highlights:
- Over the past 10 years, the population 65 and over increased from 36.6 million in 2005 to 47.8 million in 2015 (a 30 percent increase) and is projected to more than double to 98 million in 2060.
- The median income of older persons in 2015 was $31,372 for males and $18,250 for females.
- The major sources of income as reported by older persons in 2014 were Social Security (reported by 84 percent of older persons), income from assets (reported by 62 percent), earnings (reported by 29 percent), private pensions (reported by 37 percent), and government employee pensions (reported by 16 percent).
- Social Security constituted 90 percent or more of the income received by 33 percent of beneficiaries in 2014 (21 percent of married couples and 43 percent of non-married beneficiaries).
- Over 4.2 million older adults (8.8 percent) were below the poverty level in 2015.