Tag: low income

Printed Social Security statement

The U.S. Social Security Administration reported a few years ago that half of retirees get at least half of their income from their monthly checks. For lower-income retirees, the benefits constitute almost all of their income. Yet Americans have only a vague understanding of how this crucial program works – one of many obstacles on…

People waiting by a bus

The oldest minority retirees are struggling with debt, a new Urban Institute study finds. The researchers’ starting point is that people generally reduce their debt as they age. To prepare for retiring, older workers try to pay down their mortgage balances and pay off credit cards. Once retired, their debt continues to shrink. But on…