Ideally, your retirement years are a time when you can enjoy life without worrying too much about your finances. But, given high levels of inflation, this is not the case for many retirees today.
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A GOBankingRates survey from earlier this year found that Americans 65 and older worry they will run out of money in retirement (56%), that Social Security will be cut or cut altogether (53%) or that they will have an unexpected major health problem (44%).
The fear of running out of money in retirement may be justified, as the majority of Americans 65 or older have $50,000 or less in retirement savings, with 20% having between $10,000 and $50,000 and 31% with less than $10,000.
With little money in savings, many retirees depend on Social Security to make ends meet, with 29% relying entirely on Social Security and 24% relying on Social Security for more than half of their income. retirement, according to the survey.
Given these stats, it’s no surprise that many of GOBankingRates’ top retirement stories focus on affordable places to retire, make thoughtful purchases in those years, and be strategic about collecting benefits. of social security. Here’s a look at the top 10 retirement stories of 2022:
- 5 Best Southern Towns to Retire on a Budget of $1,500 a Month
- 8 Purchases Retirees Almost Always Regret
- The best cities with great weather to retire on $2,000 a month
- 10 Best Countries to Live With Just a Social Security Check
- The best cities to retire on $2,000 a month
- Best cities to retire on a budget of $1,500 per month
- 10 Reasons You Should Apply for Social Security Early
- 15 worst states to live with just a social security check
- 15 Best Places to Live With Only a Social Security Check
- How many hours can you work while collecting social security?
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This article originally appeared on GOBankingRates.com: Social Security Strategies, Affordable Housing, and More of Our Most Read Retirement Stories of the Year
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