What do retirees and college students have in common? It seems many in both cohorts are struggling to live off on a tight budget. Statistics show that one in four people over the age of 65 now relies on Social Security benefits for almost all of their income. When you consider that the average monthly benefit is about $1500, it’s plain to see why so many senior citizens are being forced to live off very little money. To help them out, Gabrielle Olya at Yahoo! Finance came up with “17 Tips To Live Comfortably Off Just a Social Security Check.” The list includes suggestions on how to get the most out of Social Security and places where seniors can save when shopping or dining.
The truth is – retirees earned a secure retirement. No senior would be struggling to make ends meet if Social Security paid bigger benefits. Increasing monthly benefits by about $65 a month is one of the key tenets of the Social Security Expansion Act. The Seniors Trust has been working diligently to convince lawmakers to pass this important piece of legislation. The lives and financial future of America’s retirees depends upon it. You can show your support by adding your name to their petition to Congress.