If I Could Tell Retirees 1 Thing About Social Security Right Now, It Would Be This

Group 1 - Social Security serves as a safety net for retirees, aimed at preventing poverty rather than providing a luxurious retirement [3][4][7] - The Nationwide Retirement Institute's 2025 Social Security Survey indicates that approximately 52% of retirees have reduced discretionary spending due to inflation [4][5] - As basic costs rise, retirees are increasingly relying on savings to cover the gap between their expenses and Social Security payments, with about 30% of respondents dipping into savings accounts or retirement funds [5][6] Group 2 - The trend in retirement planning has shifted from company-provided pensions to 401(k) plans, placing more responsibility on employees to save for retirement [6][7] - Social Security payments are not sufficient to cover all living expenses, highlighting the need for additional savings and financial planning for retirees [4][6]