Retirement often isn’t easy for seniors of limited financial means. Fortunately, there are programs that offer financial assistance and subsidies to help ends meet. Financial advisors note that low-income seniors (those receiving less than $30,000 a year) have many ways to ease their burden.
The federal Department of Housing and Urban Development (HUD) offers subsidized apartments for those eligible under local guidelines. Rents are generally no more than 30 percent of income.
For homeowners, reverse mortgages are a way to access the home’s equity in the form of a lump payment or monthly income.
When it comes to helping with food expenses, eligible seniors can receive food stamps from the Supplemental Nutrition Assistance Program (SNAP) or get free meals through a local Meals on Wheels program.
Several states have programs that help low-income seniors with utilities, fuel, phone service, and legal services. The Partnership for Prescription Assistance works with pharmaceutical companies to provide free or reduced-rate medications.
Council of Seniors Wants to Make Life Easier
Extra income during retirement makes a big difference for many seniors, Here at Council of Seniors, we’re dedicated to getting Congress to pass The SAVE Benefits Act. You need this bill to make up for Social Security cost-of-living adjustments (COLAs) that have been too meager over a series of years. If we succeed, the $581 that should have been part of your benefit all along will come your way.
Please sign our petition and get others to help too! Working together we’ll show Washington politicians this bill should be a top priority.
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