Income Composition, Income Trends, and Income Shortfalls of Older Households
About 60 percent of elderly American households spend less than their incomes, but in 2009 more than 14 percent of older households spent considerably more than their income, according to a new report by EBRI. Singles, households with no pensions, African-Americans and Hispanics have larger shares of households with deficits. Health care and home related expenses are the biggest drivers of income deficit.
