Two-thirds of seniors are unhappy with Social Security checks

“Part of the problem is the near-disappearance of pensions for private sector employees, which means seniors are increasingly reliant on Social Security to fund their retirement expenses,” Chris Motola, financial analyst at NationalBusinessCapital.com, told the outlet.

Nearly 73% of seniors depend on Social Security for more than half their income, with 39% of respondents reporting that it was their sole source of retirement income.

The cost-of-living adjustments haven’t kept pace with the actual inflation incurred by seniors, the TSCL survey found.

“In particular, housing and transportation costs have increased faster than inflation over the last 15 years, which is especially difficult for seniors who rent their homes or live in areas with low walkability,” the…