Median income

The income available to older adults and their households is one of the most critical elements to securing the quality of life they desire. Older adults' income often comes from a mix of sources, including employment, Social Security old-age benefits and other public benefits, pensions and annuities. Limited income can constrain one's options around health care, housing and other basic needs. For example, older adults without sufficient income may have health impacts resulting from not filling needed prescriptions or foregoing healthy meals. Understanding the amount of income and income disparities among older adults can help individuals, families, communities and policy makers plan for and respond to the financial needs of later life.

Minnesota Compass

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