Thoughts for Those Struggling on Social Security as Their Primary Income Source
The absence of adequate savings to compensate for the shortfalls between Social Security benefits and living expense is a problem widely covered in the media, especially as Social Security’s looming solvency crisis grinds forward. In fact, for the 12% to 15% of Americans living on monthly Social Serecurricurity benefits alone, it can be a recurring disaster. An article by Next Avenue’s Rosie Wolf Williams posted on startribune.com’s website shares some coping strategies for folks in this predicament. Included in her post is a recap of a recent Edward Jones survey shedding light on navigating the tight channels in retirement, along with several pointers gathered from conversations with folks who’ve found ways to survive with limited finances. Read Ms. Williams’ post here.