It’s easy to understand why so many seniors are struggling to get by when you learn that the average monthly Social Security retirement benefit is a little over $2,000 each month and seniors spend about $5,100 on monthly expenses.
According to Money Talk News, U.S. households led by someone who is 65 or older spend $61,432 a year. Their biggest expenses are housing (36 percent), transportation (15.5 percent), food (12.9 percent), healthcare (12.7 percent), utilities and public services (7.3 percent), entertainment (5 percent), household furnishings and equipment (3.5 percent), household operations (3 percent) and apparel and related services (2 percent).
Council of Seniors is Here to Help Older Americans
The Council of Seniors wants to improve retirement life — and that starts with Congress enacting The SAVE Benefits Act. The passage of this bill will improve retirees’ finances by making up for Social Security cost-of-living adjustments (COLAs) that have let them down in recent years. If it passes, $581 will be returned to eligible seniors.
Sign our petition right now to show you’re on board with our effort.