Comparing the economically advantaged and the pension elite: 1980 census profiles

Area of Science:

• Gerontology
• Sociology
• Economics

Background:

• The post-World War II era has seen a significant rise in the number of economically advantaged retirees.
• Understanding the characteristics of this demographic is crucial for policy and resource allocation.

Purpose of the Study:

• To identify the demographic and socioeconomic characteristics of economically advantaged retirees.
• To explore the income sources and residential patterns of financially secure retirees.

Main Methods:

• Analysis of U.S. retiree data from 1980.
• Examination of household income levels relative to poverty thresholds.
• Identification of key demographic factors such as marital status, homeownership, and location.

Main Results:

• Approximately 50% of retired individuals and 40% of retired households had incomes exceeding double the poverty level in 1980.
• Economically advantaged retired households were frequently headed by married individuals living in noncentral-city areas.
• These households often demonstrated residential stability and possessed multiple income streams, with some identified as the "pension elite" due to three or more income sources.

Conclusions:

• A substantial segment of the retiree population achieved economic advantage by 1980.
• Characteristics such as homeownership, marital status, and diversified income sources define financially secure retirees.