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17 Tips To Live Comfortably Off Just a Social Security Check
Social Security was never designed to be one’s sole source of income, as it only replaces about 40% of pre-retirement revenue. Savings and investments have always been the final piece required for a comfortable retirement. Gabrielle Olya of Yahoo Finance looks at 17 steps one can take to make living on only Social Security go further. Some of the suggestions include the obvious– delaying Social Security as long as possible to increase the monthly amount for life. Others involve a relocation to lower costs states or retirement communities and hunting for discounts and freebies. While not noted in the piece, the Association of Mature American Citizens (AMAC) provides such discounts ($16/yr membership and spouse is free) on many items seniors purchase and is the known as “the conservative alternative.” Olya’s full article can be read here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.