Social Security is the financial lifeblood for many American retirees. In fact, the Social Security Administration says monthly benefit checks account for at least 90% of the retirement income for one in five couples. A Fox Business report points out that Social Security was never meant to be a primary source of retirement income. The program was designed simply as a supplement to pensions or other investment sources. The way the program was developed, Social Security should replace about 40% of your pre-retirement income, the rest is up to you. The article goes on to suggest a few ways you can supplement your Social Security benefits.
The bottom line is, Social Security is simply not enough for today’s retirees. Many seniors don’t have enough supplemental income to survive. Something needs to be done and the smart solution is to enact the Social Security Expansion Act. The Seniors Trust needs the help of concerned citizens like you in calling on Congress to pass this landmark piece of legislation that would provide retirees with bigger benefits (about $65 a month) and shore up the Social Security system for future generations. You can show your support by signing our petition and giving seniors their much-deserved financial security.