According to the National Poll on Healthy Aging from the University of Michigan, 53 percent of older adults felt stress about their personal finances over the past year.

In addition, 47 percent of adults over 50 said that inflation had impacted them a great deal. 52 percent reported cutting back on at least one daily expense. This includes recreational activities, personal items, and home maintenance. But it also includes things like groceries, gas, and utilities.

In such a wealthy nation, no senior should have to struggle like this. While circumstances can happen to us individually or from a socioeconomic perspective, Social Security was designed to be a safeguard against this.

So why isn’t it?

The answer is that policymakers have mismanaged this program, and neglected their legal obligation to America’s retirees. Fair yearly Cost-of-Living Adjustments (COLAs) can ensure benefits keep pace with inflation, taking some pressure off seniors.

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