'I'm not struggling at all': Frugal Kentucky woman lives entirely on Social Security. But can you really retire comfortably on benefit payments alone?

Hullihan worked until her full retirement age, and because she worked in a high-wage industry, her benefit as of 2024 was $4,200 per month. She relocated from northern Virginia, where she sold her condo, to Louisville to be close to her children. She made enough from the sale that she expected to pay off her new mortgage in a few years. She’s also reduced her discretionary spending, and hasn’t had to touch her retirement savings.

“I’m not struggling at all,” she told USA Today. “When I hear people say, ‘I can’t live on Social Security,’ it’s like, Why not?”

Makasini, on the other hand, worked in the airline industry, which was chaotic after it was deregulated in the 1980s and occasionally left her without steady work. Certain life events also took a toll on her ability to build wealth over the course of her life. She divorced in 2000, and in 2012 her daughter had a child that Makasini helped support. She claimed Social Security at 62, which permanently reduced her benefit. At one point, her $1,800 monthly check wasn’t enough to keep her mobile home in Florida, so she sold it but made only $12,000 from the sale.

“It’s not optimal to just get by,” she told USA Today, “but that’s the way it is.”

Social Security was never intended to replace working income

Social Security retirement benefits are meant to supplement other streams of income. It’s meant to replace about 40% of the average worker’s pre-retirement income, according to the Social Security Administration (SSA).

Unfortunately, with defined-benefit pensions largely disappearing and personal savings often falling short of financial benchmarks, the Social Security safety net is often all people have.

According to the Senior Citizens League, 39% of American seniors rely on Social Security for all their income (2). As of January, the average check for retired workers was $2,074.53.

If you wish to calculate your potential Social Security benefit, the easiest way is by creating a "my Social Security" account on the SSA website. From the personalized dashboard, you can access estimates of your benefit based on your employment record thus far and what age you plan to apply.

This tool can be more accurate than general calculators because it uses your actual, verified earnings data. If you prefer a quick, rough estimate without signing in, the SSA also provides a "Quick Calculator" based on provided income details.

What's the secret to living off Social Security?

You might feel it’s too late for you to play catch up in today’s retirement game, where news headlines frequently tout numbers like $1 million, or even $2 million, as necessary for retirement. But many never get that far. According to the latest Survey of Consumer Finances in 2022, Americans aged 65-74 only have a median $200,000 saved in retirement accounts.

Either way, there are some clues about how you can survive on just your Social Security benefit from people who have done it.

If you are still a few years from retirement, the first thing to do is increase and stabilize your guaranteed income. Working longer can raise your benefit, and delaying your claim past full retirement age permanently boosts your monthly Social Security check.