… because that was never the intent or purpose of Social Security.
If you are age 60 and have not taken steps to supplement social security income in retirement, you are likely to be among the statistics below.
- New research shows that 50% of older adults who live alone and 23% of older couples do not have enough money to cover their basic financial needs.
- Elderly households struggle more in some areas of the country versus others, depending on the cost of living for their particular area.
- But there is no county in the U.S. where the average cost of living and the average Social Security benefit are equal, which makes it harder for retirees to break even.