Tuesday, March 17, 2009

The Impact of Race/Ethnicity on Social Security Income in Retirement

The following information is from the 2007 US DHHS Poverty Guidelines and the Annual Statistical Supplement to the Social Security Bulletin.

Below is information on the average annual Social Security payment to one elder by race:

Hispanic: $9,908
African American/Black: $10,115
Asian: $11,115
All races: $11,541
White: $11,733

The federal poverty level is $10,290.

The Elder Economic Security Initiative seeks to secure economic self-sufficiency so that all Americans can meet the cost of living in retirement.

By Marie Nelson

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