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Retirees Rely on More Than Social Security for Income

Elizabeth DanielsElizabeth Daniels 2 min read
Social Security covers just 30% of older Americans' income on average, new data shows.

Social Security income for retirees is not the safety net many people imagine it to be. According to a 2025 Congressional Research Service report, Social Security makes up just 30% of income for Americans 65 and older, with the rest coming from paychecks, pensions, and investment earnings.

At a Glance

  • Social Security accounts for 30% of income among Americans 65 and older, on average.
  • Only about 19% of older Americans rely on Social Security for 90% or more of their income.
  • Wages contribute 27% of income, pensions and retirement funds 24%, and asset income 12%.
  • Social Security's share of income rises with age, hitting 40% for those 80 and older.
  • The program's main trust fund is now projected to run short in 2032.
An elderly woman checks her mailbox for a benefits statement outside her home.

What the Numbers Actually Show

The Congressional Research Service pulled its figures by matching individual tax records against survey responses, a method that tends to catch income people forget to report on questionnaires alone, like pension checks or retirement account withdrawals. That combination is likely why the results look different from the popular assumption that Social Security is the backbone of retirement income for most seniors.

Asset income, which includes interest, dividends, rental income, and business earnings, made up 12% of the total. Wages stayed surprisingly high at 27%, a reminder that plenty of people past 65 are still clocking in, whether by choice or necessity.

Social Security's Growing Role With Age

Age changes the math considerably. Among 65 to 69 year olds, Social Security supplied just 19% of income. By 80 and older, that figure jumps to 40%, as wages fade and other income sources shrink. Even so, Social Security never becomes the dominant income source at any age bracket on average, though certain groups lean on it far more heavily, including lower income households, single adults, and Black and Latino Americans.

Quick Facts

  • About 19% of Americans 65 and older get 90% or more of their income from Social Security.
  • The data behind the report comes from 2019, though researchers see no sign that the pattern has shifted much since.
  • 70% of adults surveyed expect to collect Social Security benefits eventually.
  • 32% of those surveyed think Social Security will be their
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