Retirees’ Biggest Fear Should Come as No Surprise to Social Security Recipients

More than half of all retirees rely on Social Security as their primary source of income. According to a CNBC report, for 20 percent of those retirees, Social Security is their only source of income. So, it should come as no surprise that retirees report their greatest fear is outliving their assets. Almost 60 percent of older Americans polled said they are worried, and it’s a bigger concern for Generation X and baby boomer respondents who are closer to or already in retirement.

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 $200 per month (average) benefits increase, a fair annual cost-of-living adjustment (COLA), and increased minimum benefits.