Four Things You Can Do to Stretch Your Social Security Checks
More than 50 million retired Americans receive Social Security, and a large percentage of them rely on those monthly benefit checks for 90 percent or more of their income. When you consider that the average check is less than $2,000 per month, it’s easy to understand why so many seniors are struggling.
Citing an Edward Jones report, MarketWatch pointed out four things older adults can do to help navigate retirement, especially if they are relying on Social Security:
- Stay fit – maintaining health and wellness can improve your quality of life and prevent financial strain from medical bills
- Set financial boundaries – consider limiting financial support to family members and gifts to organizations and charities
- Expand social circles – isolation can cause physical and medical issues as you age
- Tighten your financial belt – look for expert advice on how to increase savings, decrease spending and reduce debt
The Seniors Trust is committed to improving the financial well-being of America’s retirees through passage of The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and this bill will ensure the long-term solvency of the Social Security program.
