Millions of Seniors Risk Running Out of Money During Retirement

There’s been a lot of concern lately about Social Security running out of money, but a new study shows retirees might be running out of money as well. An article by Business Insider reports that a simulated model found that “about 45 percent of Americans who leave the workforce at 65 are likely to run out of money during retirement.”

And it’s even more dire for single women, with the study finding they had “a 55 percent chance of running out of money versus 40 percent for single men and 41 percent for couples.”

The Seniors Trust is committed to improving the financial well-being of America’s retirees through the 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 will ensure the long-term solvency of the Social Security program.