An estimated 7.3 million seniors are living on less than $1,000 a month, below the 2025 federal poverty line for a one-person household.
An estimated 21.8 million senior citizens in America make ends meet solely using their social security funds, The Senior Citizens League (TSCL) said in a June 20 statement.
There are more than 68 million Social Security beneficiaries as of 2024, according to data from the Social Security Administration (SSA).
“Almost two-thirds of seniors who completed the survey said they were dissatisfied with the amount they receive from their monthly Social Security checks,” said the TSCL statement.
Ninety-four percent said the 2025 COLA of 2.5 percent was too low, and their benefits did not keep pace with economic inflation. COLA is an annual adjustment to social security payments made to ensure that benefits keep pace with inflation. The SSA announces the COLA in October every year, which is implemented in the following year.
Moreover, many believe that last year’s actual inflation was considerably higher than the government’s estimate. The Bureau of Labor Statistics estimates 2024 inflation to be 2.9 percent.
Nearly all, or 95 percent, said that reforming Social Security and Medicare should be taken as a top priority by the federal administration and Congress. A majority were in favor of “calculating the COLA with an inflation index that better represents seniors’ economic experiences.”
The January to March 2025 survey was conducted among 3,050 American seniors over the age of 62 who were eligible for their Social Security benefits. Out of those who took the survey, 1,920 provided enough data to use in the study.
According to the survey report, the median U.S. senior lives on $1,000-$2,000 a month. This includes 13 percent of seniors living on less than $1,000 a month.
“TSCL estimates that approximately 7.3 million American seniors survive on less than $1,000 a month, which would put them below $15,650 for the year, the 2025 Federal poverty line for a household of one. TSCL also estimates that another 24.5 million survive on between $1,000 and $2,000,” said the report.
