In our “golden years” of retirement, we expect to finally reap the rewards of a lifetime of hard work. Unfortunately, however, for many retired Americans, the reality is not quite so sunny. Social Security is designed to provide financial support in retirement but often falls short of meeting the basic needs of seniors.
After dedicating decades to the workforce, retirees find themselves grappling with financial challenges that current Social Security benefits cannot alleviate. Rising healthcare costs and increasing Medicare premiums, for example, present a real concern for aging populations.
Furthermore, food and housing prices continue to climb making it harder to make ends meet. To make matters worse, the annual Cost of Living Adjustment (COLA) does little to offset the continuous rise in living costs. It’s becoming more and more clear that Social Security is not enough to live on alone. Seniors need more.
This is why careful retirement planning is important. We can not rely on a system that has consistently failed to give Americans everything they earned in retirement. Social
Security reform, however, could give retirees a significant boost. We urge Congress to stand up for older Americans and create meaningful change. See what we’re working on here.