Income Before Taxes: Income Before Taxes by Age: Age 75 or over
CXUINCBEFTXLB0409M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53,438.00
Year-over-Year Change
66.25%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures income before taxes for individuals aged 75 and over in the United States. It provides valuable insights into the financial status and spending power of older adults, which is crucial for policymakers and economists analyzing economic trends and social programs.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Income Before Taxes by Age: Age 75 or over series tracks the average income, excluding taxes, for Americans aged 75 and older. This data helps economists and policymakers understand the financial circumstances and purchasing power of the elderly population, which is essential for designing effective social programs and evaluating economic policies.
Methodology
The data is collected through household surveys conducted by the U.S. Census Bureau.
Historical Context
This trend is widely used by economists, government agencies, and financial institutions to analyze the economic well-being of older adults and inform policy decisions.
Key Facts
- The average income before taxes for Americans aged 75 and over was $46,984 in 2021.
- Incomes for the 75+ age group have grown by 23% over the past decade.
- Retirees' income sources include Social Security, pensions, and investment earnings.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average income before taxes for individuals aged 75 and over in the United States.
Q: Why is this trend relevant for users or analysts?
A: This data provides crucial insights into the financial status and spending power of older adults, which is essential for policymakers and economists analyzing economic trends and designing effective social programs.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, government agencies, and financial institutions to analyze the economic well-being of older adults and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical update delay of 1-2 months.
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Citation
U.S. Federal Reserve, Income Before Taxes: Income Before Taxes by Age: Age 75 or over (CXUINCBEFTXLB0409M), retrieved from FRED.