The Changing Economic Status of Seniors

Recently, attention has focused on who is prospering in the challenging economic times the U.S. has faced in this early part of the 21st century. This issue brief addresses the question: Are seniors faring better than younger families?

Answering this question requires examining income and other data that go beyond aggregate statistics. With some important caveats, the economic status of older Americans has improved over time and relative to younger individuals in the last ten years. But most seniors’ standards of living remain quite modest even after accounting for resources beyond incomes.