The Realities of Social Security That May Shock Seniors

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Social Security surprises
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Hardworking Americans typically look forward to retirement. During this time, it makes sense that seniors should be able to relax and enjoy all they’ve worked for. However, the realities of Social Security can make it difficult for some retirees to carry out their retirement plans.

Fox Business has recently put out an article detailing some of the surprises that seniors discovered well into their retirement. Among them? The reality of how much income Social Security is designed to replace. Retirees should only expect their benefits to cover about 40% of their previous income. If their financial needs exceed that, they’ll need another source of retirement income.

One of the realities of Social Security that NORA is fighting to fix? Beneficiaries are not guaranteed a cost-of-living adjustment. This means that in some years, retirees won’t receive any increase to their benefits. We’re calling on Congress to pass The COLA Act of 2021 and to pay seniors back what they deserve after years of no COLAs. Ready to join our fight? Sign our online petition today, and follow NORA on social media (Twitter and Facebook) so you never miss an update.