Feel like I'm walking into a trap here. Myself being near a half-century, I've watched the development of minimum wage, wage-limited welfare, and easy credit.

Feel like I'm walking into a trap here. Myself being near a half-century, I've watched the development of minimum wage, wage-limited welfare, and easy credit. As such, I have to observe that older people (of whatever income) have mostly lived their earlier low-wage years without those two institutionalized traps, managing to work up their income past that $12-36/hr (inflation adjusted) gap before it appeared, and acquired most of what they're going to acquire (non-consumables) with cash or have long paid off major debts. As such, they had more natural socioeconomic mobility, and regardless of income most retired into a scenario where income can be very low while maintaining a quite comfortable existence - ergo pegging them as bottom/second quintile can be quite misleading, as contrasted with the otherwise presumed "growing family" that does desperately need income & mobility. To wit: those elderly I know who likely have such low incomes likely own their homes etc outright, know how to live well on a frugal income, avoided/eliminated debt, and are in a position to choose to cut their own income to maximize net revenue (extreme ex.: the "millionaire on food stamps" cases, rich but currently no earned income).