Retirement on Social Security: Yes, No, and Maybe
Update: 2025-11-30
Description
Can you retire on Social Security alone? It depends on your lifestyle and financial planning. Some couples manage well on $2,400 a month, while others struggle on $4,000. The belief that you need $1 million in savings, plus Social Security, for a comfortable retirement is challenged by experts like Andrew Biggs, who suggest a smaller nest egg of $50,000 to $100,000 might suffice. Gail Randle, a frugal retiree, exemplifies this approach, living comfortably on her Social Security and careful budgeting. However, Alden and Dena Swartz face challenges due to unexpected life events and high living costs, highlighting the importance of adaptability and a bit of luck in retirement.
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