Social Security Represents 60% Of Income For Americans 75 & Older

As Americans age, social insurance income, such as workers’ compensation, unemployment insurance, and Social Security represents an increasing share of income from any source. According to data analyzed by the Census Bureau, for all ages in 2022, income from social insurance represented 17% of income, ranging from 1% among ages 18 to 29, to 11% among ages 50 to 64, to 49% by ages 65 to 74, and 60% for those age 75 and older. Among all races, those ages 65 to 74 received half of their income from social insurance, primarily Social Security. Among the oldest age category (75 . . .