Retirees Reveal: Can Social Security Fund Your Golden Years?

Recent accounts from retirees across the U.S. reveal diverse experiences with living solely on Social Security benefits. While some individuals, like Gail Randle, manage comfortably through extreme frugality and minimal spending, others, such as Alden and Dena Swartz, face financial precarity despite substantial benefits, largely due to unexpected life events and high living costs.

The findings challenge the common notion that millions in savings are required for a comfortable retirement. Experts suggest a much smaller nest egg, around $50,000 to $100,000, might suffice if retirees significantly reduce their expenses. This aligns with surveys indicating that a majority of seniors report managing well financially on their current income.