“If you depend on your Social Security for most of your living expenses, you’re not going to be able to pay your rent, buy your food, pay your utilities, the basics … pay out-of-pocket health care costs that may come up.” “A lot of people in Washington are not that in tune with what this could mean,” he said. But that’s not possible for many recipients. Max Richtman, the committee’s CEO, has been telling members to try to set aside some money to have a little cushion if their June benefits don’t arrive on time. The average benefit for retired workers is $1,827 a month in 2023. Many senior citizens are already growing worried, especially in the past week or so as the deadline grows closer, advocates say.Īlmost two-thirds of beneficiaries rely on Social Security for half of their income, and for 40% of recipients, the payments constitute at least 90% of their income, according to the National Committee to Preserve Social Security and Medicare.
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