Table 8
Average gross and net household income by age class
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Age class | Gross Income | Gross income net of income taxes | Gross income net of income taxes, pension plan contributions and personal insurance payments 1 |
---|---|---|---|
dollars | |||
Panel A: Survey of Household Spending | |||
20 to 29 | 52,400 | 43,506 | 40,410 |
30 to 39 | 76,499 | 60,385 | 55,816 |
40 to 49 | 83,673 | 65,779 | 60,639 |
50 to 59 | 85,777 | 67,553 | 62,214 |
60 to 69 | 54,620 | 45,348 | 43,098 |
70 plus | 40,399 | 34,676 | 33,803 |
ratio | |||
Relative income ratio | |||
70 plus to 40-to-49 | 0.48 | 0.53 | 0.56 |
70 plus to 50-to-59 | 0.47 | 0.51 | 0.54 |
dollars | |||
Panel B: Census | |||
20 to 29 | 47,050 | 40,614 | 37,678 |
30 to 39 | 70,581 | 58,299 | 53,886 |
40 to 49 | 83,085 | 67,395 | 62,118 |
50 to 59 | 85,617 | 69,152 | 63,689 |
60 to 69 | 64,776 | 53,092 | 50,459 |
70 plus | 47,155 | 40,441 | 39,418 |
ratio | |||
Relative income ratio | |||
70 plus to 40-to-49 | 0.57 | 0.60 | 0.63 |
70 plus to 50-to-59 | 0.55 | 0.58 | 0.62 |
Gross income less income taxes, payments for
life insurance, annuities, employment insurance, and public and private pension
plans.
Source(s):
Survey of household spending (2006) and Census of population (2006).
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