Making It Work: How Retirees Survive on Social Security Alone
When Social Security is a retiree's sole source of income, it takes more than careful budgeting to make it work.
Overview
The nonprofit advocacy group The Senior Citizens League (TSCL) estimates that 24.6 million seniors in the U.S., or 44% of the country's retirement-age population, depend on Social Security benefits for 100% of their income. That's up from 39% in 2025. With 54% of those seniors living on less than $2,000 per month, the spotlight is on how aging Americans get by.
Image source: Getty Images.
The average cost of living for an older household -- including housing, food, and healthcare in retirement -- is $3,161. Of that, $662 is typically spent on food, and $650 is spent on healthcare.
Details
Source
Originally published at www.fool.com.
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