1. Social Security Buying Power Has Dropped a Whopping 33% Since 2000. Here's What the Average Check Is Now

    Social Security Buying Power Has Dropped a Whopping 33% Since 2000. Here's What the Average Check Is Now

    A retiree who collected the average Social Security check in 2000 has lost $407.90 in purchasing power over the past 19 years. More Social Security benefits have lost one third of their buying power since 2000, according to a report released Tuesday by The Senior Citizens League, a non-profit organization. Retirees’ monthly benefit checks have not kept up with the skyrocketing costs of prescription drugs and other essential goods and services, resulting in a 33% drop in purchasing power.

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  1. Quotes

    1. Drugs, housing and food are rising at several times the rate of Social Security.
    2. As people live longer in retirement, their savings have to go a lot farther, and their Social Security benefits have to be adequate to last for 25 or 35 years.
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