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Tag Archives: retire on social security

Retiring on Social Security

I was reading this article over the weekend about how folks who depend on social security aren’t getting much of a cost of living increase this year and haven’t for several years. Of course, there was the requisite moaning and groaning from seniors and from advocates who always seem to be talking about how hard seniors have it and how meager one’s existence is if social security is your only income. For those people who have retired with no income other than social security, I have one word: Lucky! Seniors Are Lucky! Yes, you read that right. I think people who are receiving social security are lucky. In 2014, the average social security payment per month was $1294. I realize that’s not a ton of money. Hopefully you have other assets and/or income streams, but even without those, you’re still lucky. You might not be able to live in that gated golf community or travel around the world. You probably can’t pay for your grandchildren’s college education. You might not even be able to live in many expensive areas of the country. However, there are plenty of areas in the US where you can rent a modest place, cover utilities, ...

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