Helpful Resources for Seniors Surviving on Social Security including healthcare, food, legal advice, transportation, dental care
| Written by Chris Hawkins SeniorLiving.Org Expert on Senior Care & Assisted Living |
THE GOLDEN YEARS MIRAGE
For many seniors, the “Golden Years” is just a mirage. In your working life, the idea of retiring, living comfortably and enjoying yourself always appeared on the horizon like an oasis in the desert. Once you got there, however, you found only struggle.
Inflation, low-wage jobs, health issues, improper planning, the recent financial crisis or dozens of other reasons now find you just scratching by rather than savoring this time comfortably.
Like many seniors in this country, you are in survival mode. Some of you have been barely surviving for years. Others, like the 10,000 Americans who turn 65 every day, are just now facing the reality.
Many of you are surviving on only Social Security month-to-month.
THE RETIREMENT REALITY
Let’s be clear: many retirees or soon-to-be retirees are in fine shape. They’ve worked at good-paying jobs for decades, saved through 401Ks, and have their homes paid off.
But there’s another group in a much different situation. Consider that nine out of ten Americans 65 and older are receiving Social Security. And the average monthly Social Security benefit for those 65 and older is $1,262. Many receive much less than that.
According to the Social Security Administration, 53% of married couples and 74% of those unmarried receive 50% or more of their income from Social Security.
Further, 23% of married couples and about 46% of unmarried seniors rely on Social Security for 90% or more of their income.
The median income for seniors 65-74 is $36,320; if you’re over 74 that drops to $25,417 according to the U.S. Census Bureau. And 12% of those… [more]
