Income composition, income trends, and income shortfalls of older households.

نویسنده

  • Sudipto Banerjee
چکیده

 For all age groups above 65, Social Security remains the primary source of income. In 2009, households ages 65–74 and households with members age 85 or above received 54 percent and 66 percent of their total household incomes, respectively, from Social Security benefits.  The importance of Social Security income increases with age. For households that had members ages 65– 69 in 2001, the share of household income derived from Social Security rose from 47 percent in 2001 to almost 60 percent in 2009.  Income from pensions and annuities is the second-largest source of income for older households. In 2009, households ages 65–74 received 17.1 percent and households above age 85 received 15.3 percent of their incomes from pensions and annuities.  In 2009, two-fifths of households with members age 65 and above had incomes less than their expenditures—meaning they had deficits.3 percent of households with members age 65 and above had spending that exceeded 175 percent of their household incomes.  Households that face income shortfalls not only have much lower levels of assets, they spend down their liquid assets at a faster rate than households with no income shortfalls.  The probability of running into an income shortfall is much higher for those with lower incomes. In 2009, 66.4 percent of households age 65 or older in the bottom-income quartile faced income deficits, while only 6.8 percent in the top-income quartile faced such shortfalls.  Median home-and health-related expenses, as well as median total expenses, are much higher for households that face income shortfalls, even if they have lower levels of income.  Singles, households with no pensions, African-Americans, and Hispanics have larger shares of households with income deficits. written with assistance from the Institute's research and editorial staffs. Any views expressed in this report are those of the author and should not be ascribed to the officers, trustees, or other sponsors of EBRI, EBRI-ERF, or their staffs. Neither EBRI nor EBRI-ERF lobbies or takes positions on specific policy proposals. EBRI invites comment on this research.

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

رابطه بین نابرابری درآمد و نابرابری مخارج مصرفی

Objective: Income inequality affects consumption structure via changes in the composition of expenditure basket. Shocks, fluctuations, disparities, and dispersions of income inequality, is expected to be transmitted to consumption expenditures. These shocks might induce inequalities in consumption expenditures. This paper tries to measure the amount of such consumption expenditures inequal...

متن کامل

رابطه بین نابرابری درآمد و نابرابری مخارج مصرفی

Objective: Income inequality affects consumption structure via changes in the composition of expenditure basket. Shocks, fluctuations, disparities, and dispersions of income inequality, is expected to be transmitted to consumption expenditures. These shocks might induce inequalities in consumption expenditures. This paper tries to measure the amount of such consumption expenditures inequal...

متن کامل

Trends in out-of-pocket health care expenditures in Canada, by household income, 1997 to 2009.

BACKGROUND Canadian households are spending an increasing share of their household income on health care not covered by public plans. This study investigates trends in out-of-pocket expenditures for health care services and products by household income quintile from 1997 to 2009. DATA AND METHODS Biennial estimates from the Survey of Household Spending between 1997 and 2009 were used to exami...

متن کامل

Ranking of the Iran's Provinces Based on Income Level of Households Using the Proxy Means Test

Abstract. Examining the householdschr ('39')s income distribution in the provinces of the country is one of the great importance from a planning point of view. In this article, first, the income level of households was estimated by the proxy means test method, and then the ratio of households in the first two deciles was estimated based on the income level in each of the Iranchr ('39')s provinc...

متن کامل

Family Income and Cash Flow of Rural Households in South East Nigeria: A Comparative and Gender – Based Analysis

This study focused on the income generating capacity of farm family’s own resources and examined the vulnerability to financial risk among the remote and peri-urban farming systems of Imo state. Primary data was collected using the farming and rural systems approach to randomly select and interview 120 households. Descriptive statistics and Mann whitney test were used in assessing between group...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

عنوان ژورنال:
  • EBRI issue brief

دوره 383  شماره 

صفحات  -

تاریخ انتشار 2013