Income Security for Vietnam-Era Veterans: A Research Note

Abstract

Little is known about the financial security of Vietnam-era veterans now that most are over 65 and have left the labor force. Using 2018 survey data, we found that, on average, Vietnam-era veterans aged 63 to 78 had slightly less income than nonveterans of their ages: US$63,500 and US$65,000, respectively. Those veterans received more money from Social Security and retirement plans; nonveterans had more earnings and investment income. About 1.3 million Vietnam-era veterans collected an average of US$17,600 in disability compensation from the Department of Veterans Affairs, lifting their average total income above other veterans’ by about US$5,000. Overall, veterans were less likely to be poor or very wealthy than were nonveterans. Information on income provides insight to Congress and the public about the economic stability and, by extension, overall well-being of Vietnam-era veterans as they age.