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View Diary: A Promise Broken To Seniors (257 comments)

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  •  Some significant number of (0+ / 0-)

    the ones that do not  solely rely on Social Security might have some small income in addition to it.  I don't have the numbers but I am betting that it adds significantly to that 24% number.

    For instance, some might have investments that pay dividends of just a couple thousand dollars a year or something in that range. Others might be drawing down their savings every year.  I have known seniors who were in that situation.  

    I am willing to bet that a significant percentage of people on Social Security have some other income but not a lot, and with the explosion in health care costs, savings are always at risk.

    So while that 24% number sounds rather low, I wonder how many rely on Social Security for most of their income. That would be a much more useful statistic.

    "Justice is a commodity"

    by joanneleon on Thu Dec 20, 2012 at 04:24:51 PM PST

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    •  it's right there in slink's blurb (0+ / 0-)
      For nearly two-thirds (65 percent) of elderly beneficiaries, Social Security provides the majority of their cash income.

      For more than one-third (36 percent), it provides more than 90 percent of their income.

      For one-quarter (24 percent) of elderly beneficiaries, Social Security is the sole source of retirement income.[21] (See figure below.)

      so, 36%.

      even in the over-80 group, there is not a majority relying solely on SS.

      Please don't dominate the rap, Jack, if you got nothin' new to say - Grateful Dead

      by Cedwyn on Fri Dec 21, 2012 at 05:29:00 AM PST

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