Tips On How to Retire on Social Security Alone

Last year, the average Social Security benefit was $1,907 a month. That’s not very much when considering the cost of basic necessities these days — and many seniors are struggling. MoneyWise spoke to one retiree who has figured out how to stretch her Social Security income as far as possible. She said she cooks and eats simple meals at home. Rather than purchase new items, she tries to find as much free stuff (or close to free) as possible. She also volunteers at a charity that offers her a $100 monthly stipend.

Obviously, no one wants to see older Americans living like this. 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.