What Retirees Really Think About Their Retirement Situation

You may be shocked to learn that just 4 percent of retirees say they are “living the dream.” According to an article by MoneyWise, the same number says they are “living a nightmare.” Even more discouraging, 15 percent said they’re “struggling” and 34 percent think their retirement situation was not bad but not great.

This dire outlook can directly be attributed to inflation. Nine out of ten retirees stated they are concerned about inflation chipping away at their assets. That’s not surprising when you consider how much prices have increased at grocery stores, pharmacies, and gas stations. Healthcare costs are another cause for concern for retirees, with 85 percent citing that as a cause for concern.  

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.