The economic security system for the elderly in Taiwan is incomplete. For most of the elderly, their main economic resources are twofold: one is the supporting of their children, and the other is their own savings. In view of the trends of the qualitative metamorphosis' caused by the change of family function and the 'quantitative metamorphosis' caused by the change of family resources providing for the aged, family is increasingly no longer to be a guarantee for the economic life of the elderly. Therefore, a social security system for protecting late life is necessary. In fact, the 'risk' of economic security for the elderly, including individual and collective risk, are varied. To tackle various risk, the actions taken must be varied with its situations and, therefore, a multi-level economic safety net for the elderly can be built up. This paper, by using the data on the survey of family income and expenditure in Taiwan area of Republic of China, aims at analysing the economic situations of the aged and their corresponding forms of risk. In addition to investigate main common characteristics of the aged group in way of homogeneous analysis, this paper also put emphasis on the difference of aged sub-group and its implication through heterogeneous analysis. The growing of the age of the elderly, according to the analysis, is accompanied by the deprivation of economic resources, the loss of economic autonomy, and the increasing dependence on transfer receipts. Furthermore, the advance of medical technology and the prolongation of life expectancy result in the upsurge of medical and long-term care cost. Such aging process accompanied