From The Wall Street Journal:

Many Americans nearing retirement are facing financial hardship with minimal savings and almost no income beyond Social Security. Approximately one in seven Social Security recipients aged 65 and older rely on their benefits for nearly all of their income, leading them to make adjustments such as downsizing their homes or relying on the support of family members. This highlights the financial strain experienced by a significant portion of the aging population.



Read more: Here’s What It’s Like to Retire on Almost Nothing but Social Security