POLITICS
10/25/2012 10:23 am ET Updated Dec 25, 2012

Face Of The Day #88: Senior Incomes Improve Over Decades (VIDEO)

Older Americans are better off. The median inflation-adjusted income for senior Americans has more than doubled since 1962.

Fifty years ago the median income for those 65 and over was $8,027 for singles; in 2010 it was $17,845. For couples, the '62 median was $20,424; in 2010 it was up to $43,114.

One reason seniors were, on average, better off financially is monthly Social Security payments, which have risen faster than inflation and in 2010 averaged more than $1,200 per retiree. Another reason: more than three times as many seniors got private pension payments in 2009 compared to 1962. Those getting government pensions increased by nearly 50 percent.

For more details, watch and share today's video.

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