Economic well-being of the old old: family unit income and household wealth

This article examines the family income and the household wealth and income of old old persons. Subgroups of the old old are compared and the old old are compared with the young old. When the old old group is separated into three subgroups--widows living alone, other females, and males--the economic status of widows living alone is substantially below that of the other two subgroups. This difference is found when income, wealth, and combined income-wealth measures are used. When the old old group is compared with the young old group, the economic status of the old old is substantially lower for all measures examined. When the three subgroups within both the old old and young old groups are compared, the economic status of each subgroups is lower for the old old for most measures. Income data from the March 1991 Current Population Survey and wealth and income data from the 1984 Survey of Income and Program Participation are used.