You think the days have passed when seniors survived on dog and cat food? Media hype may have moved on to what Paris Hilton had for lunch but the practice continues.
In today's workforce, 53% have no private retirement coverage, 32% have no savings for retirement. That's 85% of all workers with nothing set aside specifically for old age. Social Security represents 39% of all elderly income. For 65% of 33 million retired workers Social Security makes up more than half their income.
Maybe that's you.
For 22% Social Security is their only income.
That's me. Could be that's you too.
Average Social Security benefit income is about $1,000 a month. Most do not even get that. Are you making it on $12,000 to $15,000 a year or less?
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January 30, 2012
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