Social Security probably forms a key part of your retirement plan -- and that's OK. It makes sense you'd factor these benefits into your retirement budget if you know you qualify for them. You've earned them, after all.
Where it gets tricky is when you rely heavily or exclusively on your Social Security checks. The average monthly benefit for retired workers as of March 2025 was just $1,997. That comes out to less than $24,000 per year.
Most people can't afford to live on that little, and those who try are rarely comfortable. Reducing your dependence on your checks by doing the following four things, if possible, could relieve a little of that stress.
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1. Reduce expenses, if possible
Most retirees try this first, and you may have already done it. But if not, now is a good time to review your budget. Look for opportunities to reduce costs, perhaps by limiting discretionary purchases or finding ways to save on the essentials.
For example, if housing is eating up a large chunk of your expenses, consider moving to a more affordable place. Or if you don't drive that often, you could get rid of your car and save yourself the insurance, gas, and maintenance costs.
2. Get a retirement job
Working in retirement may not be ideal for you, but it could provide a vital source of income to help you supplement your checks. It could also help you stretch any personal savings.
You don't have to choose a traditional 9-to-5 job. You're free to look for something that's part-time, remote, or in a field you find interesting. You don't need to make as much as you did before retirement either. You just need enough to cover what Social Security won't.
3. Apply for other government benefits
Other government benefits can help low-income families cover their costs, including:
- Supplemental Nutrition Assistance Program (SNAP) benefits: This helps low-income households pay for groceries.
- Medicaid: Medicaid helps low-income families pay for healthcare costs.
- Supplemental Security Income (SSI): A monthly benefit the Social Security administers to blind and disabled individuals as well as low-income seniors 65 or older.
There are many others available, too. You generally apply for these programs through your state social services agency. Your local government may have some assistance programs available, too.
Use some of these services to help you cover your essential costs. If they give you any wiggle room in your budget, you may also be able to set aside some money for retirement savings to supplement your Social Security benefits in the future.
4. Delay retirement
If you don't like the idea of working in retirement and you're worried about running out of savings prematurely, delaying retirement may suit you better. Pushing your retirement back gives your existing savings time to grow while also reducing the length and cost of your retirement. Even a few months can make a difference.
Of course, this is only an option if you remain healthy enough to continue working. If not, you may have to explore some of the other options listed here.
You may need to employ a combination of these strategies to make ends meet in retirement. Figure out what works best for you. And if you're not retired yet, do your best to save on your own in a retirement account so you have an extra cushion for when times get tough.
