Social Security Strategies, Affordable Places To Live and More of Our Most-Read Retirement Stories of the Year
Ideally, your retirement years are a time during which you can enjoy life without worrying too much about your finances. But, given the high levels of inflation, this is not the case for many of today’s retirees.
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A GOBankingRates survey from earlier this year found that Americans 65 and older are worried about running out of money in retirement (56%), that Social Security will be cut or end completely (53%) or that they’ll have an unexpected major health expense (44%).
The fear of running out of money in retirement may be warranted, as the majority of Americans 65 or older have $50,000 or less in retirement savings, with 20% having between $10,000 and $50,000 and 31% having less than $10,000.
With little money in savings, many retirees depend on Social Security to make ends meet, with 29% relying on Social Security entirely and 24% relying on Social Security for more than half of their retirement income, the survey found.
Given these stats, it’s no surprise that many of GOBankingRates’ most-read retirement stories focused on affordable places to retire, making thoughtful purchases during these years and being strategic about collecting Social Security benefits. Here’s a look at the top 10 retirement stories of 2022:
5 Best Southern Cities To Retire on a Budget of $1,500 a Month
The Best Cities With Great Weather To Retire on $2,000 a Month
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This article originally appeared on GOBankingRates.com: Social Security Strategies, Affordable Places To Live and More of Our Most-Read Retirement Stories of the Year
